St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1904-04-09
Louisiana.
Ar, I'll. X.

The capital stock Of this corporation
is hereby fixed at Que hundred thousand |
dollars, divided into or represented by !
ten thousand shares Of ten dollars
each Said stock shall be paid tor IN
cash at not less than par, or. the same
may be issued al not less than par IN
payment OF property actually received
or purchased nv the corporation, Or IN
pa ,,nent for labor done and services
accordingly rs Nh: Hoaf'i OF
director. ma. determine. Said c"rpo-
ration shall BE- authorized to begit bust
ness and be a 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 aid authori
ty 0f this corporation shall be vested In
and be exercised by Board OF Direct
ors, to be composed of three stock
holders, majority of whom shall con-
stitute quorum for the transaction Of
business. Said Board shall be 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 COM
missiuners to be appointed for that
purpose bv the Board Of Directors, and
ten DAYS 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 nv its
owner. either in person or by written
proxy. ard majority Of the votes cast
shall elect. A failure to elect Mt snch
times Board of Directors or any lem
Der thereof, or any Of the corporate
officers as herein provided for, shalt not
operate to dissolve this corporation.
but the incumbent directors and oft GERS
shall continue in the exercises OF their
duties until the successors shall nave
been elected and shall have taken their
places. for which purpose an election
shall he held thereafter as soon as pos
sible.
Vacancies occurring in said Board OF
Directors shall be filed by the remain
ing Directors. At the first meeting fol-
lowing each election said Board OF Dir
rectors shall elect Of their number
President. Vice President and Sec
retarv-Treasurer The office ct Secre-
farv and Treasurer may he FIJI by one
and the same person.
The Board of Directors may make
and establish, alter, amend and abolish
all bylaws rules and regulations as 1t
may deem necessary and proper for the
management If the affairs of the corpO
ration, not Inconsistent with this CHAR
ter and in pursuance 1T law; it shal'
have power to contract debts. sorrow
money. issue notes aud bonds and other
obligations; execute mortgages, ALLEVIATE
and lease property, real, ptrsonat an"
mixed; to appoint such clerks. agents.
managers and employees as may Dr re-
quired, and generally to do all things
incident to the objects and purposes q
the said corporation. and moreover.
said Board of Directors shall have
power and authority to issue and de-
liver full paid shares Of stock. or bonds
or other obligations 1T 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. its affairs shall be fquf-
dated under the supervision OF three
stockholders to be appointed for that
purpose by the stockholders at gener
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 liquidafed and
settled. and In case of the death ct one
or more of said commissioners. the
survivor or survivors shall continue to
act until n successor shall be elected by
the stock holders ut n special mretfn"
called for that purpose. after ten DAYS
advertisements in aDewspapprpublishe
IN the Part Il of st. Tammany, State Of
Louisiana
Article VII.