St. Tammany farmer., 1905-11-18
issued at not less than par, in payment


money advanced and for such other valn-
able considt ration or services as the
Boerd Of Directors Of said corporation
may determine; provided no stock shall
issue until consideration therefor has
been received by said corporation. Said
shares of stock shall be sirned by the
President and Secretary. At all cleo
tions by or meetings of the stcckhold ers
each share cf stock shall be entitled to
one vote, to be cast by the person i'll
whose name the stock appears on the
books OF the corporation, or by his agent
or proxy duly authorized to that effect IN
writing.
TLis corporation shall com mence busi-
ness and become going concern as
soon as oEe hundred shares of its capi-
al stock shall have been subscribed and
at least fv > thousand dollars of the cap:-
tai stock fully paid in.
ARTICLE vi.
No stockholder shall have authority or
right to sell Or otherwise dispose of his
stock, in whole or IL, part. without first
giving to 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 defanH any stock
holder. the first opportunity of purchas-
ing the stock. after which tifteeD days
the said stock may be sold in open mar
ket. The stock of said corporation r1ay
be transferred under tho above condi-
tions, provided such transfer thereof be
lnade 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 ,rate
powers Of this corporation shall be trans-
acted by Board Of D Directors. TO be COM
posed Of nine stockholders. A majority
Of said Board shall constitute quorum.
but less number shall have right to
adjourn to given date. No person shall
be eligible as director or officer, as
herein provided in this charter, who is
not stockholder Vt this corporation.
The members of the Board of Directors
shall he elected by najority of the
votes Of tn. stockholders cast at meet
ing to be held fer that purpose, The fol-
lowing persons shall constitute the FIRST
Board Of Directors: Il. B. Daboval, H.
j. Smith, w. A. Dutsch, III. II. Smith,
Leopold Levy, Leon Roubion, John b.
Kent, Nj. Seller and F. Fortune. Said
Board shall continue in Office until jan
ary 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 practice
BILE, 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,
q President, q 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
rect0rs are elected at the meeting to be
held January Is, 1907: II. B. Daboval,
President; IL. J. Smith. Vice President,
and II. Il. Smith. Secretary and Treas
nier.
ARTICLE VIII.
Any vacancy occurring in the Board Of
Directors from any cause shall be filled
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 Ok their
salary, term of service with tho right
to dismiss them at said Boards pleas
Ure, 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 will best
serve the interest and welfare of tho
Corporation. They shall also have the
poWer to sell, convey, mortgages. pledge,
lease, suitcase aud 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 ef
stock present or represented at any
general meeting Of the stockholders of
said Corporation convened for such
purpose, after thirty l3O) days previous
notice Of such meeting shall have been
given BY publication in one OF the news
napers 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 af-
fairs shall be liqufdated under the
anperintendence of three commissioners
chosen for that purpose from among
the stockholders, BY q majority in
amount Of the tockholders present or
represented ct q general meeting OF the
stockholders, as above set forth in this
Article. The said commissioners shall
remain in Office uutil the affairs OF the
Corporation shal. have been fully liq1i-
dated. Shonld vacancy occur in said
commissioners the survivor or survivors
shall continue to act. q
ARTICLE x.
No stakeholder Of this CORPORATION