St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1904-03-26
Louisiana.


All &c y.
The capital stock of this corporation
is hereby fixed at one hundred thousand
dollars, divided into or represented by
ten thousand shares of ten dollars
each Said stock shall be paid for IN
cash at not less than par, or the same
may be issued vi not less, than par in
payment Of property actually received
or purchased by the corporation, or in
payment for labor done and services
performed, accordingly as the Board OF
Directors may determine. Said corpo-
ration shall be authorized to begin busi-
ness and be going concern when two
thousand shares of its stock shall have
been subscribed for. No transfer Of
stock shall be binding upon.or have any
effect upon the corporation unless and
until made on its books.
The Board of Directors shall have the
power at any regular or special meeting
to order the issue and sale of additional
stock from time to time up to the
authorized capital stock Of the corpora.
ton, as In the judgment of the Board
OF Directors the business and nece SSH
ties of the corporation may require.
Article V.
All the corporate powers aud autbori
ty of this corporation shall be vested 10
and be exercised by Board of Direct
ors. to be composed Of three stock
holders, a majority of whom shall con-
stitute quorum for the transaction Of
business. Said Board shall he elected
annually by the stockholders on the
second Monday IN May OF each year,
beginning in the year nineteen hundred
and FIVE. All elections shall be by bal
lot at the Office of said corporation, un.
der the superintendent of two CON-
missioners to be appointed for that
purpose bv the Board OF Directors, and
ten davs' prior notice OF each election
shall be given by publication, published
in the Parish of st. Tammany, State OF
Louisiana. Each share Of stock shall
be entitled to one vote, to be cast by its
owner, either in person or by written
proxy. and majority OF the votes cast
shall elect. failure to elect at such
times Board of Directors or any Mem'
Der thereof, or any of the corporate
officers as herein provided for, shall not
operate to dissolve this corporation.
but the incumbent directors and Off GERS
shall continue in the exercises of their
duties until the successors shall have
been elected and shall have taken thelr
places. for which purpose an election
sible.
Vacancies occurring in said Board OF
Directors shall be filled by the remain
ing Directors. At the first meeting fol-
lowing each election said Board Of Di-
rectors shall elect of their number q
President, Vice President and q Sec
retary-Treasurer. The Office of Score.
tary and Treasurer may be fill' d by one
and the same person.
The Board of Directors may make
and establish, alter, amend and abolish
all bylaws rules and regulations as II
may deem necessary and proper for the
management of the affairs of the corpo-
ration. not inconsistent with this char
ter and in pursuance of law; it shall
have power to contract debts. borrow
money, issue notes and bonds and other
obligations; execute mortgages, ALLEVIATE
and lease property, real, personal ana
mixed; to appoint such clerks, agents,
managers and employees as may be re-
quired, and generally to do all things
incident to the objects and purposes OF
the said corporation, and moreover,
said Board of Directors shall have
power and authority to Issue end de-
liver full paid shares of stock. OR bonds
or other obligations Of said corporation
in payment for property bought, labor
or services done and performed. or
money borrowed.
Article VI.
Whenever this corporation is dis
solved, either by Limitation. or for any
other cause. It's affairs shall be liqui-
dated under the supervision of three
stockholders to be appointed for that
purpose by the stockholders at geDer
al meeting convened for that purpose
after thirty DAYS public notice thereof
shall have been given in one of the
newspapers published in the Parish of
st. Tammany. State of Louisiana; said
commissioners shall remain in office
until the affairs Of sail corporation
shall have been fully liquidated and
settled. and In case Of the death Of c"e
or more OF said commissioners. the
survivor or survivors shall continue to
act until successor shall be elected by
the stock holders at special meeting
called for that purpose, after ten days
advertisements in a newspaper published
IN the Part h of st. Tammany. State OF
Article VII.
This act OF Incorporation may be
modified. changed or altered, or said
may be dissolved with the