St. Tammany farmer., 1905-12-16

.ach share cf stock shall be entitled to
me vote, to be cast by tthe person III |
whose name the stock appears on the
books Of the corporation, nr i'y his agens
NJ proxy 4 Guly authorized TO tn.it fleet IN |
writing.
TLis corporate shalt commence busl-
ness and become going concern as
soon as oIe hundred shares of ITS capi-
:al stock shall lave been subscribed and
at least fiy > thousand dollars of the cap!-
tai stock fully paid in.
ARTIsLE 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 lis 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, the first opportunity OF purchas-
ing the stock. after which fifteen days
the said stock may be solo in open mar-
ket. The stock of said corporation may
be transferred under the above condi-
tions, provided snch transfer thereof be
made on the books Of the corporation. At
its domiclile in Covington, this parish
and State, and upon the surrender 9.
the certificate therefor.
ARTICLE VII.
The business Affairs aud corporate
powers of this corporation shall be traus-
acted by Board Of Directors. to be COM
posed of nine stockholders. A majority
of said Board shall constitute ono rum
but less number shall have right to
adjourn to q given date No person shall
be eligible as = director or officer, as
herein provided in this charter, who il
not a stockholder of this corporation.
The mem bers of the Board Of Directors
shall he elected by a majority of the
votes of th stockholders csst at a meet.
ing to be held fer That purpose. The fol.
lowing persons shall constitute the first
Board Of Directors: II. B. Daboval, II.
J. Smith, w. A. Dutsch, II. II. 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 no,
dissolve this corporation, but the ther
Board Of Directors shall continue te
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 the Board
of Directors. they shall Immediately
elect, from among their own number
q 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 new Board OF Di-
rectors are elected at the meeting to be
held January Is, 1907: u. B. Daboval
President; II. J. Smith, Vice President
| and H. II. Smith. Secretary and Treas.
uler.
ARTICLE VIII.
Any vacancy occurring in The Board OF
Directors from any cause shall be fliec
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 daem necessary.
and change and alter the same at pleas
ure, name and appoint all managers
employees or other officers. and DIX thell
salary, term of service. with the right
to dismiss them at said Boards pleas
ure, and the said Board shall have the
right to fix and determine the salaries
md duties Of the several officers h..rein
created by this charter. and ascribe
other duties to said officers. as will 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
poraiion.
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 9
stock present or represented at any
general meeting Of the stockholders OF
said Corporation convened for such
purpose, after thirty 1907 days previous
notice Of such meeting shall have been
eiyen 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 Ia dissolved, either by
Limitation or from other cause. it's at
fairs shall be liquidated under the
superintendenceo of three commissioner
chosen for that purpose from among
the stockholders, bv q majority In
amount of the stockholders present or
represented at general meeting OF the
stockholders, as above set forth in this
Article. The said commissioners shall
remain in office until the affairs OF the
Corporation shsl! have been fully liq1i-
dated. Should vacancy occur in said
commissioners, the survivor or survivors
shall continue to act.
ARTICLE x.
No stockholder of this Cor noTation
shall be held liable or responsible tor
the contracts or fault thereof In any
further sum than tho unpaid balance
due the Corporation on the shares sub
scrlbed for or owned by him; nor shall
any informality in. organization have
the effect OF rendering this charter null.
or exposing q stockholdcr to any lia.
hi1ifv hpvonA the unnaid balance. Ii