St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1908-10-10

cised by a Board of Directors COM
posed of three stockholders to be elect
ed annually, on the first day of Janu-
airy; at such election each stakeholder
who may be present in person or by
written proxy, shall be entitled to
one vote for each share of stock held
by him, and majority of votes cast
shall elect; and the persons elected
at each election shall constitute the
Board of Directors for the ensuing
term, shall at once take their seats as
such, and shall serve and continue IN
Office until their successors shall have
been elected. A failure to elect d.
rectors as above provided shall not
dissolve the corporation, but the Board
of Directors in Office at the time OF
such failure shall continue to act until
an election shall be held.
Vacancies occurring in said board
from any cause whatsoever, shall be
filled by the remaining directors. Two
directors shall constitute a quorum for
the transaction of any business. The
said Board of Directors at it's first meet
ing following the election in each year
shall elect from it's number presl-
dent, treasurer and secretary.
The board shall also appoint from
time to time, and dismiss at pleasure,
such officers, clerks, agents and other
employees as they may deem necessary
for the business and purpose OF said
corporation, and may make and es-
tablish, as we'll as amend and alter,
all bylaws, rules and regulation, re-
quisite for the support and manage
ment of the business OF said company.
Said Board of Directors shall have
power and authority to borrow money,
execute mortgages, issue notes or
bonds, and generally to do all such
acts and things as may be necessary
to carry out the objects and purposes
of the corporation.
ARTICLE VI.
This act Of incorporation, or any
article in this charter, may be changed,
altered or amended, it's capital stock
may be increased or decreased, or the
corporation may be dissolved at a
general meeting of the stockholders
convened for such purpose, after no
tice shall have been given by mail;
provided the owners of three-fourths OF
the shares shall vote in favor of such
change, alteration, amendment OF
dissolution, and provided that notice
of such changes as may be made III
reference to the capital stock shall be
given as provided by law, and that nc
change in the capital stock shall be
made except in the manner and on the
vote required by law.
ADTTTT 4 VIII
The first Board of Directors shall
consist of George E. Sanford, I. A.
Vaughan and Alphonse Peyroux Jr.,
of whom George E. Sanford shall be
President, Alphonse Peyroux Jr. Sec
rotary, and T. A. Vaughan shall be
Treasurer, who shall continue in office
until new Board of Directors are
elected, and new officers selected
ARTICLE VIII.
No stakeholder shall be held liable
or responsible for the contracts or
faults of said corporation in any fur
Their sum than the unpaid balance, il
any, due on shares of stock owned by
him, nor shall any mere informallty
in organization have the effect OF rem
dering any stockholder liable beyond
the amount due on his STOCK, or OF
annulling this charter.
Thus done and passed in my office in
the Town of Covington, St. Tammany
Parish, Louisiana, on the day, month
and year her einbefore mentioned, and
in the presence Of Jno. E. Cotton and
J. V. Robinson competent male
witnesses, who have hereunto signed
their names, with the said appearers
and me, Notary, after due reading of
the whole.
GEO. E. SANFORD, 80 shares.
A. PEYROUX, JR., 1 share.
EVA M. SANFORD, 25 shares.
T. A. VAUGHAN, 1 share!
To authorize my wife Eva M. San
ford, GEO. 3. SANDFORD.
HARVEY E. ELLIS,
Notary Public.