St. Tammany farmer., 1907-05-04
CHARTRR
POnChataIaWa Land And In
prOVement Company, Ltd.
United States of America, State of
Louisiana, Parish of Orleans,
City of New Orleans.
OF THE

'eIoIc me- JOnH MaFSnal QulnterO, notary
public, duly comissoned and qualified, in and
or the Parish of Orleans, State of Louisiana
and in the presence of the witnesses
hereinafter named and undersigned, personally
,ame and appeared the several persons whose
names are hereunto subscribed, who seyeralIy
declared that avalling themselves of the laws
Of the State of Louisiana in such cases made
and provided, they have covenanted and
agreed, and do, by these presents, covenantand
agree and bind themselves, as well as all such
persons as may hereafter become associated
with them, to form corporation for the OBJ
lectS and purposes and under the articles and
stipulations following to-wit;
ARTICLE |,
The name of this corporation shall be ''PON-
LAND & IMPROVEMENT COMPANY,
and under its said corporate name
it shall have power and authority to have and
enjoy corporate existence and succession for
the full term and period of ninety-nine Years
from and after the date hereof, to contract,
sue and be sued to make and use a corporate
seal, and the same to alter and break at pleas
ure; to hold, receive, lease, purchase and con-
vey, as well as mortgage and hypothecate
property, real, personal and mixed, corporeal
and incorporeaI; to name and appoint such
managers, agents, directors and officers as its
business, interest and convenience may re-
quire, and to make and establish, as well as
alter and amend, from time to time, such by
laws, rules and regulations for the proper
government of the affairs of said corporation
dS Eldy DC necessary ana proper,
ARTICLE II.
The domicie of said corporation shall be in
the Town of Covington, Parish of st. Tammany,
State of Louisiana, and all citations or other
legal process shall be served upon the pres-
dent of said corporation, or in the. event of his
absence, upon the vice president thereof, and
in the absence of both of said officers upon the
secretary of said corporation.
ARTICLE Ill.
The objects and purposes for which this
corporation is established and the nature of
the business to be carried on by it are hereby
declared to be to purchase, lease and own, to
cultivate and improve for its own use, or
others, lmmoYable property of every descrip-
ton whatsoever in the Parish of st. Tammany
State of Louisiana, or elsewhere in the United
States and generally to hold and exercise all
such incidental powers and privileges as relate
to the objects hereinabove set forth; as an ad-
junct to said purposes, to construct own and
operate, steamboats,, steam and electric rail-
roads, warehouses and depotS as may be neces-
sary to do in the development and improve
ment OF the land now owned or hereafter tC
be owned, by this corporation, To build
bridges for toll, and to bore for oil, gas and
water and other minerals as the company may
think proper, and to do all things incident
thereto.
ARTICLE ".
The capital stock of said corporation is here
by fixed at the sum of three hundred thousand
OOlldIS tSSOU,OOU,OO,I QlVlQSQ INTO ana repre-
sented by three thousand 5000 shares of stock
of the par value of one hundred dollars $500
each. Sale stock shall be paid for in cash. al
such time, in such amounts and after such no.
tice to the subscribers, as may be fixed by the
Board OF Directors, or the same may be issued
at not less than par for labor done, or property
/, actually received by the corporation.
The corporation shall become a going con-
Germ and be authorized to do business as soor
as ten thousand dollars (S10, 0,000.00) of its capi.
tai stock Shall have been subscribed for.
ARTICLE V.
All the corporate powers of said corporation
shall be vested in and exercised by a Board ot
Directors to be composed of not less than five
{ 81 nor more than twelve u2l stockholders
to be elected annually on the second Monday
In January IN each year, except the first BoarC
appointed in this charter, who shall hold theil
offices until the second Monday in January
1908, and four ~ directors shall constitute
quorum for the transaction of business,
All such elections shall be held by ballot anC
conducted at the office of said corporation, un-
der the supervision of three t3I commissioner:
to be appointed by the Board of Directors, anC
the Board shall be empowered to decrease OF
increase its number at pleasure.
Notice of such election shall be given by the
secretary of the company, by publication fol
not less than ten uO days prior thereto in
newspaper published in the City of New Or
leans.
At all such elections and at all corporate
meetings, every Stockholder shall be entitled
to one vote for each share of stock standing r
his name on the books of the company, to be
cast in person or by his written proxy, pro.
vided any and all proxies so given Shall desig.
nate how said proxy or proxies shall be voted
and the majority of the votes cast shall elect.
Any vacancy occurring among the Director:
by death, resignation or otherwise, shall be
filled by election fol- the remainder of the tern
by the remaining Directors.
A failure to elect Directors on the date above
specified shall not dissolve the corporation
nor impair its corporate management, but the
directors then in office Shall remain in Office
until their successors are elected and qualified
The Board of Directors shall elect from theil
own number, a President and Vice President
They shall also elect Secretary and Treasurer
or one person who shall be both, either o.
whom may orsmay not be members OF the
Board. They may, from time to time. nar1e
and appoint all such other officers and agents a!
1t may deem necessary for the purpose anC
business of the CO rporatiOn. They shall have
power to fix and define the duties of every
officer and employee, and all officers and en-
ployees shall hOa Office and employment at the
pleasure of the BOARD, The Board may make
and establish, as well as aiser and amend, any
and proper in its judgment for sRe conduct
support and management of the business ARc
affairs of said corporation.
The Board shall have full power and authority
TO borrow money, to execute mortgages and tC
create liens; to issue bonds, notes and othel
obligations. and generally to do all thing:
reasonable. convenient and necessary for the
proper carrying Oh Of the business OF the cor
pOratiOn.
No stakeholder owning less than ten no
shares of stock shall be elfgible as q Director.
ARTICLE VI.
Whenever this corporation may be dissolved
either by limitation or from any other cause
its affairs shall be liquidated by three l3l COM
mssioners, to be appointed from amongst the
stockholders at general meeting of the stock
holders convened for such purpose, of which
meeting notice shall be given In the manner
and time provided for Stockhoaefy' meetings
by Article VII of this charter, and majority in
the amount of the capital stock of said COM
pany reDresented at such meeting shall be re-
quiSite to eIs&t, Said commissioners shall re-
main in office until the affairs of said corpora
ton shall have been fully. liquidated: In case
of death Of one or more of said commissioners,
the vacancy shall be filled by election by the
surviving commissioners,
ARTICLE vii.
This act of incorporation may be naadiaed.
changed altered, or said corporation may be
dissolved with the assent of three-fourths of
the capital stock represented at general meet
ing of the stockholders conyened for such
purpose, and after notice shall have been given
in one or more newspapers published in the
Town of Covingt0n, State of Louisiana, once a
week for four weeks preceding the meeting
and by written notice to each StOckholder,
mailed to him thirty days prior to the date of
meeting, at the poStoffice address DESIGNATED
by him in writing.
Any changes proposed or made in reference
to the capital stock shall be made in accordance
with the laws of the State of Louisiana, on the
subject of altering the capital stock of corpora
tions,
ARTICLE VIII.
No stockholder shall ever be held liable for
the contracts or faults of said corporation in
any further sum than the unpaid balance due
the corporation on the shares of stock owned
by him, nor shall any mere infOrmalIty in
have the effect of rendering this
charter null, or of exposing stockholder to
any liability beyond the unpaid amount re-
manning due on his stock.
ARTICLE TX,
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