St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1905-12-30

books OF the corporation, or nv his 1genS /
or proxy duly authorized to That effect IN |
writing.
Ills corporation shall commence bnsi-
ness and become a going concern rs
soon as ore Hundred shares of it's CAPT.
:al stock skull have been subscribed ana |
a least five thousand dollars of the CAPT
tai stock fully paid in.
ARTICLE VI.
NJ stockholder shall have authority or
right to sell or otherwise dispose of his
stock, in whole or III part without first
giving t. the Board OF Directors fifteen
days notice in writing OF his intention
or desire to dispose of his stock, or any
part thereof, and allowing the Board OF
Directors, or in its defanlt any stock
holder, tho first opportunity of purchas-
ing the stock. after which fifteen days
the said stock may be sold in open mar
ket. The stock Of said corporation may
be transferred under the above condi-l
tons, provided such transfer thereof be
made on the books Of the corporation, at
its domiclile in Covington. this parish
and State, and upon the surrender o.
the certificate therefor.
ARTICLE VII.
The business affairs aud corp 1ratc
powers Of this corporation shall be trans-
acted by Board Of Directors, to be COM
posed of nine stockholders. A majority
of said Board shall constitute quorum,
bnt less number shall lave right to
adjourn to a given date No person shall
be eligible ms a director or officer, as
| herein provided in this charter, who is
l mn a ofnnl ho11aN .,f This
The members of the Board of Directors
votes Of th3 STOCKHOLDERS cast at meet
ing to be held fer that purpose. The fol-
lowing persons shall constitute the first
j. Smith, W. A. Dutsch, II. H. Smith,
Leopold Levy, Leon Roubion. John B.
| Kent, n. ]. Seller and F. Fortune. Said
Board shall continue in Office until Jan
airy Is, 1907, on which date, and annu-
ally thereafter, an election for directors
shall. be held at the Office of the cor
poration, after fifteen days notice
thereof shall have been given by publi-
cation in one of the newspapers pub
lished in the Parish of St. Tammany,
by two publications thereof, during
| said time. A failure to elect directors
on the date above mentioned shall not
dissolve this corporation, but the then
Board of Directors shall continue to
hold office, and another election shall
be held as soon thereafter as practical
bic, of which notice shall be given in
the manner already provided in this
article. After the election of the Board
Of Directors. they shall Immediately
elect, from among their own number,
3 President, Vice President, and q
Treasurer, who shall also be Secretary.
The Offices, as herein created, shall be
filed by the following named persons,
and who shall serve as such from the
present time until q new Board OF De
rectors are elected at the meeting to be
held January Is, 1907: II. B. Daboval,
President; IL j. Smith, Wise President,
and H. H. Smith. Secretary and Treas
uler.
ARTICLE VIII.
Any vacancy occurring in the Board Of
Directors from any cause shall be filed
by the remaining members of the Board
from among the stockholders Of the
Corporation. The Board of Directors
shall make such bylaws, rules and regu.
lations as they may deem necessary.
and change and alter the same at pleas
ure, name and appoint all managers,
employees or other officers. and fix their
salary, term of service. with tho right
to dismiss them at said Boards pleas
IRE, and the said Board shall have the
right to fix and determine the salaries
and duties Of the several officers herein
created by this charter, and ascribe
other duties to said officers. as W Ill best
serve the interest and welfare of the
Corporation. They shall also have the
power to sell, convey, mortgage. pledge,
lease, suitcase and purchase property,
movable and immovable, personal and
mixed; borrow, issue notes and bonds;
make contracts and do all things which |
may be necessary to properly transact
and manage the business of this Cor
poration.
ARTICLE TX.
This act of Incorporation may be |
changed, modified or amended, or said
Corporation may be dissolved, with the |
assent of the majority Of the amount cf
stock present or represented at any
general meeting of the stockholders OF I
said Corporation convened for such |
purpose, after thirty (3O) days previous
notice of such meeting shall have been
oiyen by publication in one Of the news
papers published in the Parish of st.
Tammany, by four publications OF said
notice during said time. Whenever
this Corporation is dissolved, either by
limitation or from other cause. its al
fairs shall be liquidated under the
Of three commissioners
chosen for that purpose from among
the stockholders, by majority in
amount OF the stockholders present or
at q general meeting OF the
stock holders, rs above set forth in this
Article. The said commissioners shall
remain in office uutfl the affairs of the
Corporation shall! have been fully liqai.
dated. Sho1ld q vacancy occur in said
the survivor or survivors
shall continue to act.
ARTICLE x.
No stakeholder of this CORPORATION
shall be held liable or responsible for
The contracts or fault thereof lin any
further sum than the unpaid balance
due the Corporation on the shares SUBJ
,crIbed for or owned by him; nor shall
any informality in organization have
The effect Of rendering this charter null. .
or exposing q stakeholder to any liza
bility beyond the unpaid balance, it
any, of his stock.
Thus done and passed at my notarial
office, in the Town Of Covington, Par
sh of st. Tammany, State Of Louisiana,
IN the day, month and year herein first
lbove written, In the presence of w.
3. Cowart and Wiley Nj. Wood, two
witnesses OF lawful age, aud
esidents of said town, parish aud
state, who hereunto sign their names.
ogether with said appearers and me,
rotary. after due reading of the whole.
Henry ]. Smith, 10 shares.
Hardy II. Smith, 20 shares.