St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1904-03-05

be paid for either in cash or in property
conveyed to the corporation, and shall
be full paid and non assessable. No
stock holder shall have the right Of sell-
ing any OF the shares h',ld by him with.
out having first offered the same. in
writing. to the corporation, through its
Board Of Directors, ard said board shall
i,a - the privilege of purchasing said
shares within thirty days thereafter, for
cash, at their book value according to
the inventory last made. All transfers
OF stock shall be made on the books Of
the company.
Article V.
All the corporate powers of this CON-
pany and the management and control
OF its business shall be vested in and
exercised by Board Of Directors, cor.
posed Of three stock holders, majority
| OF whom shall constitute quorum for
the transaction of business. Said Board
shall Immediately after Its election Sc
lect one Of its members as President,
another as Vice President, and a third
as Secretary aud Treasurer. The said
Board Of Directors shall be elected an
nually by ballot. by the stockholders,
| sso WV SAAANO Va SnV 0Oup0Iys vi GuO
fourth Monday of January Of each year.
Each stockholder shall be entitled, In
person or by written proxy, to one vote
on every share owned by him. and said
election shall be held Under such rules
rs shall be provided for by the Board of
Directors. The said Board shall con-
tinue in Office for one year or until their
successors are duly elected, and no fail
ure to lect shall he Il forfeiture of this
charter. Vacancies occurring in the
Board Of Directors shall be filled by the
remaining members Of the Board
whether u quorum remain or not. All
Directors and officers of this corpora
zion, both those appointed In this Char
ter and those that may be hereafter
elected at the annual meeting OF the
share holders, are to remain in Office un-
til their successors are elected and
qualified.
Article vi.
! The following named persons shall
constitute the first Board of Directors,
viz: G. NJ. Bickham. W. E. Bickham,
DR.. A. T. Pierce and NJ. K. Ray, with
e.. M. Bickham as President, w. Z.
Bickham as Vice President, and DR.. A.
| I. Pierce as Secretary and Treasurer, to
hold their offices until the fourth Mon
day of January 1905, or until their sue
cessors are elected and qualified.
| Article VII.
This act of incorporation may be
changed, modified or altered, with the
| assent of three fourths Of the stock
represented at a general meeting con-
vened for that purpose, and after at
least ten days written notice of said
meeting shall have been given through
| mail, addressed 1c each stakeholder at
his last known place OF residence.
Article VIII.
No stockholder shall ever be held
liable or responsible, for the contracts,
faults or debts of said corporation, nor
shall any informality in its organization
have the effect of rendering this char
ter null or Of exposing stakeholder to
any liability beyond the unpaid balance
due on the shares owned by him.
Article TX.
This Corporation may be dissolved by
vote of three fourths of its whole
stock, ut q meeting called for that pur
pose, proceeded by written notice mail
ed to each share holder. addressed to
his last known residence, ten DAYS prior
to said meeting, at which meeting three
liquidators shall be elected, who shall
remain in flee until the settlement of
said liquidation At said meeting the
compensation of sal, liquidators shall
be fixed. In case of the death or dis
ability of any one of said liquidat0rs,
the survivors shall continue the liquida-
ton.
Thus done aud passed in my Office at
C0viDgton, Louisiana, On the day,
month and year first above written, In
the presence of Harvey E. Ellis and W.
f.. Blossman, competent witnesses, who
have signed with the parties and me,
.,otar, after reading of the whole.
G. M. BICKHAM, IS shares.
Per NJ. X. Ray.
w. f. BICKHAM, IS shares.
Per NJ. K. Ray.
A. L. PIERCE, 20 shares.
Per NJ. X. Ray.
NJ. X. RAY, 20 shares.
Witnesses:
Harvey T. Ellis.
w. T.. BlOsSman.
FL. II. WARREN,
Clerk, and Ex-Oficio Notary Public.
!, the undersigned Deputy Clerk of
Court, Ex-Ofici0 Notary Public and
Recorder of Mortgages In aud for the
uarish s,f ST Tam many State ~ Innisi.