St. Tammany farmer., 1905-11-25

one vote, to be cast by Ithe person III
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 commence bnsi-
ness and become a going concern as
soon as one Hundred shares of its capi-
ssal stock shall lave been subscribed and
at least fiv ) thousand dollars of the capi-
tai stock fully paid in.
ARTICLE VI.
M stockholder shall have authority or
right to sell or otherwise dispose of his
stock. in whole or ii, 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 defanlt any stock
holder, the first opportunity Of pnrchas-
ing the stock, after which fifteen days
the said 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
inade 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 betrars-
acted by Board Of Directors. TO be COM
posed of nine Stockholders. A majority
of said Board shall constitute qnorum,
but.a less number shall lave right to
adjourn to q given date. No person shal |
be eligible as director or officer, as
herein provided 10 this charter, who is
not stockholder of this corporation.
The members Of the Board of Directors
shall l,e elected by majority of the
votes of tlIs stockholders east ut meet
ing to be held fer that purpose. The fol-
lowing persons Shall constitute the first
Board of Directors: II. B. Daboval, III.
j. Smith, w. A. Dutsch, II. H. Smith,
Leopold Levy, Leon Roubion, John B.
Kent, n. J. Seller and F. Fortune. Said
Board shall continue in Office until jan
ary l5, 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
there Of 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 practical
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 Die
rectors are elected at the meeting to be
held January Is, 1907 II. B. Daboval,
President; IL. j. Smith. Vice President,
and Fl. H. Smith. Secretary and Treas.
user.
ARTICLE VIII.
ANY vacancy Occurring in the Board of
Directors from any cause shall be filed
by the remaining members of the Board
from amohg the stockholders Of the
Corporation. The Board of Directors
shall make such by laws, rules and regu-
lations az they may deem necessary.
and change and alter the same at pleas
ure, name and appoint all managers,
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
and duties OF the several officers hsrein
created by this charter, and ascribe
other duties to said officers, as " i'll 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,
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 lX.
This act. of Incorporation may be
changed, modified or amended, or said
may be dissolved, with the
assent of the majority of the amount #
stock present or represented at any
general meeting Of the stockholders of
,aid Corporation convened for such
purpose, after thirty (30 days previous
notice of such meeting shall have been
yiyen BY publication in one Of the news
3apers published in the Parish Of st.
by four publications of said
lotice during said time. Whenever
his Corporation is dissolved, either by
imitation or from other cause, its af-
.airs shall be liquidated under the
of three commissioners
chosen for that purpose from among
he stockholders, by majority in
mount Of the stock holders present or
epresanted at q general meeting of the
as above set forth in this |
Article. The said commissioners shall |
emain in Office uutil the affairs of the
shal! have been fully liqai- |
ated. Should vacancy occur in said
the survivor or survivors
hall continue to act.
ARTICLE x.
No stockholder of this CORPORATION
hall be held liable or responsible for
he contracts or fault thereof in any
lrther sum than the unpaid balance
ue the Corporation on the shares sub
cribed for or owned by him; nor shall
ny informality in organization have
he effect of rendering this charter null.
r exposing stocAhoider to any lia-
ility beyond the unpaid balance, If
ny, of his stock.
Thus done and passed at my notarial
fflce, in the Town of Covington, Par
h of st. Tammany, State Of Louisiana,
q the day, month and year herein first
oove written, In the presence of w.
!. Cowart and Wiley NJ. Wood, two
witnesses Of lawful age, and
sidents of said town. parish and
ate, who hereunto sign their names.
gether with said appearers and me,
,tary. after due reading OF the whole.
Henry ]. Smith, 10 shares.
Hardy III Smith 1l ahapau