St. Tammany farmer., 1905-12-23

,ne vote, to be cast by ttLe person III |
whose name the stock appears on the
books of the corporation, ,or by his agent
Dr. proxy Guly authorized to Tat effect IN |
writing.
Tlis corporation shalt commence busi- |
ness and become a going concern as
soon as ore hundred shares of its capi-
sal stock sl.tll have been subscribed and
at least fve thousand dollars Of the capi-
tai stock fully paid in.
ARIII.E VI.
N, stockhnlGer shall have authority or
right to sell Or otherwise dis pose Of his
stock. in whole Or L, part. without first
giving t., the Board OF Directors fifteen
days notice in writing OF his intention
or desire to dispose Of lis stock, or any
part thereof, and allowing the Board OF
Directors, or in its defanlt any stock
holder, tile first opportunity OF purchas-
ing the stock, after whics, fifteen days
the sai,: stock may be solo in open mar
ket. The stock of said corporation may
be transferred under the above contli-
tions, provided such transfer thereof be
lnade on the books of the corporation. at
its domiclife.iu egoyington. this parish
and State, and upon the surrender o.
the certificate therefor.
ARTICLE VII.
The business affairs and corp1rat
powers Of this corporation shall be tralis-
posed of nine stockholders. A majority
of said Board shall constitute quorum,
but less number shall lave right to
adjourn to a given date. No person shall
be eligible as director or officer, as
herein provided in this charter, who is
not stochholder Of this corporation.
The members Of the Board Of Directors
shall re elected by rajoIity of the
votes of ihs stockholders, cast at meet
ing to be held fer that purpose, The fol-
lowing persons shall constitute the first
Board of Directors: H. B. Daboval, IL.
J. Smith, W. A. Dutsch, II. II. Smith,
Leopold Levy, Leon Roubion. John b.
Kent, n. J. 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-
BILE, of which notice shall be given in
the manner already provided in this
article After the election Of the Boarc
of Directors. they shall Immediately
elect, from among their own number
a President, a Vice President, and 8
! Treasurer, who shall also be Secretary
The offices, us herein created, shall be
filled by the following named persons
/ and who shall serve as such from thu
present time until anew Board OF Di.
rectors are elected at the. meeting to bt
held January Is, 19J7:.H B. Daboval
President; IL. j. Smith. Vice President
and H. II. Smith, Secretary and Treas.
| u;er.
ARTICLE VIII.
Any vacancy occurring in the Board O
Directors from any cause shall be fillet
\ by the remaining members IF the Boart
from among the stockholders Of th'
Corporation. The Board of Director
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 thei
salary, term of service. with tho righ
to dismiss them at SAID Boards pleas
ure, and the said Board shall have th'
right to fix and determine the salarie!
Ind duties of the several officers hereil
created by this charter, and ascrib'
other duties to said officers. as will bes
serve the interest and welfare OF tn,
Corporation. They shall also have thu
power to sell convey, mortgage. pledge
lease, suitcase and purchase property
movable and immovable, personal ant
| mixed; borrow, issue notes and bonds
make contracts and do all things which
may be necessary to properly transac
and manage the business OF this Cor
poration.
ARTICLE TX.
This act of incorporation may bt
| changed, modified or amended, or saiG
| CORPORATION may be dissolved, with the
| assent of the majority Of the amount Il
stock present or represented at ans
| general meeting of the stockholders OF
said Corporation convened for such
| purpose, after thirty 1907 days previous
notice of such meeting shall have been
given by publication in one Of the news
naners pnblishedin the Parish of st.
Tammapy, by four publications of said
notice during said time. Whenever
this. Corporation is dissolved, either by
limitation or from Otler cause. its af-
fairs shall be liquidated under the
superintendence of three commissioners
chosen for that purpose from among
the stockholders, bv a majority in
amoupt Of the stockholders present or
represanted at general meeting OF the
stock kholders, as above set forth in this
Article. The said commissioners shall
remain in Office uutil the affairs Of the
CORPORATION shsl! have been fully liqli-
dated. Shonld vacancy occur in said
commissioners, the survivor or survivors
shall continue to act.
ARTICLE X.
No stockholder of this CORPORATION
shall be held liable or responsible for
the contracts or fault thereof in any
TURNER SUN CuhA Vt.C TN Ss"'buSo
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 stakeholder to any LA.
bility beyond the unpaid balance, if
any. of his stock.
Thus done and passed at nv notarial
office, inahe Town Of Covington, Par
ish of st. Tammany, State Of Louisiana.
on the day, month and year herein first
above written, in the presence OF w.
B. Cowart and Wiley hi. Wood, two
competent witnesses Of lawful age, ana
residents of said town, parish and
State, who hereun,o sign their names.s
together with said appearers and me,
notary. after due reading Of the whole.
Henry J. Smith, 10 shares.
Hardy II. Smith, 20 shares.