St. Tammany farmer., 1905-12-09

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whose name the stock appears on the
books of tile corporation, or by his agent
or proxy t'uIy authorized to tna at effect IN
writing.
TLis corporation shall commence busi-
ness and become going concern as
soon as oIe Hundred shares Of its capi-
al stock shall have been subscribed and
at least five thousand dollars of the capl-
tai stock fully paid in.
,sRTI lie VI.
NJ stockho1Ger shall have authority or
right to sell Or otherwise dispose Of his
stock, in whole or II, 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
bolder, the first opportunity of pnrchas-
ing the stock, atter which tifteeD days
the saic stock may be SOLD in open mar
ket. The stock of said corporation may
be transferred under the above condi-
tions, provided such transfer thereof be
1nade on the books of the corporation, at
its domieliie ia Covington, this parish
and State, and upon the surrender o.
the certificate therefor.
ARTICLE VII.
The business affairs aud corpora
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,
but less number shall lave 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 of this corporation.
The members of the Board Of Directors
shall he elected by n majority of the
votes OF th3 stockholders cast at a meet
ing to be held fer that purpose, The fol-
lowing persons shall constitute the first
Board of Directors: Fl. B. Daboval, H.
j. Smith, W. A. Dutsch, FL, H. Smith,
Leopold Levy, Leon Roubion, John B.
Kent, N. ]. 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 practica-
ble, of which notice shall be given in
the manner already provided in this
article. After the election of tie Board
Of Directors. they shall Immediately
elect, from among their own number,
President, Vice President, and a
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 new Board OF d.
rpctors are elected at the meeting to be
held January Is, 1907: II. B. Daboval,
President; IL. j. Smith. Vice President,
and III. Fl. Smith. Secretary and Treas
uier.
ARTICLE VIII.
Any vacancy occurring in the Board Of
Directors from any cause shall be filled
by the remaining members Of the B ard
from among the stockholders Of the
Corporation. The Board Of Direct r.
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-
ure, and the said Board shall have the
right to fix and determine the salaries
nd duties of the several officers h.,reln
cr+ ated by this charter, and ascribe
other duties to said officers as ill best
serve the interest and welfare of the
Corporation. They shall also have the
noWer to sell, convey, mortgage. pledge.
lease, suitcase and purchase property,
movable and immoyable, 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
pora,iOn. 81
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 !
stock present or represented at ans
general meeting of the stockholders OF
said Corporation convened for such
purpose, after thirty 800 days previous
notice of such meeting sLall have been.
given 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 hv
or from other cause. its af-s
fairs shall be Hquidated under the
of three commissioners
chosen for that purpose from among
the stockholders, by a majority in
amount Of the stockholders present or
represented at general meeting of the
as above set for, b in this
Article. The said commissioners shall
remain 10 Office uutil the affairs OF the
Corporatlen shal! have been fully liqli-
dated. Should vacancy occur in said
commissioners, the survivor or survivors
shall continue to act.
ARTICLE x.
No stockholder Of this Corr orator,
shall be held liable or responsible for
the contracts or fault thereof in any
further sum than the unpaid balance
due the Corporation on the shares sub.
scribed for or owned by him; nor shall
any informality in organization have
the effect Of rendering this charter null,
Or exposing a stochhoider to any liza
bility beyond the unpaid balance, If
any, Of his stock.
Thus done and passed at nv notarial
office, in the Town of Covington, Par
sh Of st. Tammany, State Of Louisiana.
IN the day, month and year herein first
above written, in the presence Of "
B Cowart and Wiley N. Wood, tw,
witnesses OF lawful age, anu
'esidents Of said town, parish anu
State, who nereunto sign their names.
ogether with said appearers and me,
rotary, after due reading OF the wnole. |
Henry J. Smith, 10 shares.
Hardy II. Smith, 81 shares.
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