St. Tammany farmer., 1905-03-18

capital stock has been subscribed for.
Tho Board of Directors shall have
the right to determine how much stock
shall be issued.
ARTICLE Nv.
The corporate powers of this CON-
pany shall be vested In and exercised by
Z Board Of seven ~ directors, consist
ing of President, Vice President, Sec.
retary and Treasurer, and three stock
holders -Four (4) of said Board shall
constitute q quorum for the transaction
OF business, and their decisions shall
be valid corporate acts.
The following persons shall consti-
tute the first Board of Directors;
". j. LeEngle, w. A. Hood. A. B.
Holiday. J B Wheat, W. B Gilligan,
T. M Burns and G. F Mason.
No person shall be eligible as direc-
tor or an officer who Is not stock.
holder of this Company.
During the absence of the President
the Vice President shall act and preside.
Said Board shall continue in Office un.
til the second Monday in January, 1906,
on which date and thereafter, annually,
q Board of Directors shall be elected
for each year. unless the same should
be holiday, whom the election shall be
held on the next legal day thereafter.
Notice of such election shall be given
by at least ten days continuous publi-
cation immediately preceding each
election, in one of the newspapers of
the parish; the Board of Directors
shall appoint one or more stockholders
to preside at such election as commits
sioners. Any failure from any cause
whatever to elect Directors the day
named for that purpose shall not dis
solve the CORPORATION, but the directors
then in Office. as well as the officers of
said Company, shall hold over until their
successors are chosen.
In such event the President shall
cause another election to be held within
thirty (30) days, ard shall give notice
thereof, as herein before provided.
At every election and meeting each
stockholder shall be entitled to q vote
for each share OF stock held in bis name,
and may vote by proxy.
The election of Directors shall be by
ballot. and the majority in amonnt Of
be counted for one vote. shall elect the
person or persons for whom they have
been cast.
After each election the Board of Dr.
rectors shall elect from their own num-
Der the officers Of the said Company.
ARTICLE v
The Board of Directors shall have full
power to fill vacancies In their number
caused by death, resignation or other
wise from among the stockholders Of
tho Corporation.
The said Board shall have full con,
troll Of the property Of this Company
and shall SO conduct, manage and use
the same as IN their discretion they
deem fit, and il consistent with the ob-
jects Of this Company, or the welfare Oi
the same.
The said Board is further authorized
to frame and adopt such bylaws, rules
and regulations as the affairs and busi-
nesG of the corporation may require,
and as it may deem necessary for the
conducting and management thereof;
provided the same shall not conflict
with the Charter, or With the laws OF
the State, or Of the United States.
The said Board shall elect or appoint
. Secretary and such other officers,
agents, employees, servants and clerks
rs 1t may deem necessary for the con-
Quoting Of the business Of the Corpora.
tion; fix their compensation, term of
service, with the right to dismiss them
at said boards pleasure; and said board
shall have the right to flx aud determine
the sslary of the said officers herein
provided for.
Article vi.
This Charter may be changed, ,nodi-
fed or amended, the capital stock in
creased or decreased, or this corpora
tion may te dissolved, at . general
meeting Of the stockholders convened
for that purpose, With the assent OF
three -fourths Of the entire capital stock,
whether present or repesentsd at such
meeting.
Notice Of such meeting shall be given
as heretofore provided. In case Of dis
solution or termination of this Corpora.
tion, either by Limitation Of its Charter
or from any cause, the liquidation Of It's |
affairs hall be conducted by three Com |
selected from the stock. |
holders, with like assent, and at a meet
ing called for that purpose. as above
set forth In this article. Said Commis-
sioners shall remain In Office until the |
Affairs Of said Corporation shall have |
been fully liquidated. In case Of the !
death Of one Or more OF said Commis- |
Bioners. the survivor or survivors shall !
continue to act.
Article VII.
No stockholder of this Corporation l
shall ever be held liable Or responsible
Tor the contracts or faults thereof, In
any further sum than the unpaid bal.
snce due the company on the shares Of
stock subscribed for or owned by him,
Dor shall any informality In or9snizs-
lion have the effect of rendering this
Charter null, or Of exposing . stock.
holder to any liability, beyond the un.
paid balance, II any, of his stock.
Thus done on this Stu day of March,
/. D. 1905, In the presence Of Walter j.
AcCants and John c. Allen, competent
Of lawful age, and residents
II this parish, who hereunto sign their
,ames, together with said parties and
ne, notary, after reading of the whole.
THOMAS J. HOOD,
w. A. HOOD,
A. B. HOLIDAY,
W. B. 0ILLlCAN, |
g. F. MASON, !,
THOMAS N. BURNS, Il
j. B. WHEAT.
w. J. LIE ENGLE.
Witnesses,
". j. McCANTS,
JNO. G. ALLEN.
STATE OF LOUISIANA.