St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1908-11-14

for manufacture, or for the purpose
or otherwise acquire or ALLEVIATE all
kinds of lumber, timber, building
material, whether in the crude or
manufactured state, either as CON-
mission merchants, retail merchants
or otherwise; to export and import as
commission merchants or otherwise
the above mentioned material; to do
general merchandise business as re-
tail or wholesale merchants and to
buy and sell all such commodities as
are usually handled in a general mer-
chandise business; and generally to
hold and exercise all such incidental
powers and privileges as relate to the
objects herin set forth, or that may
of conveying the manufactured pro-
duct to market etc; to buy and sell,
be hereafter conferred by law on this
corporation, or corporations of similar
character.
ARTICLE ".
The capital stock of this corporation
shall be fifteen thousand ($15, 1000
dollars, divided into and represented
by one hundred and fifty shares of
stock of par value of one hundred dol
lars each; said stock shall be paid for in
cash at the time of subscription or as
| the same is issued for not less par, or
in payment or exchange for property
actually received or purchased by this
corporation or for work or other SER
vices actually rendered. Any stock
holder may sell, assign or transfer his
! stock in this corporation. No transfer
of stock shall be made unless the
! same is transferred OF the books Of this
corporation at its Office. This corpo-
ration may commence doing business
and shall become going concern as
soon as five thousand dollars Of its
capital stock shall have been subscrib-
ed for and paid in. The board of di-
rectors shall have the right to deter
mine how much stock shall be issued
after the first five thousand dollars OF
it's capital stock shall have been is
sued. -
ARTICLE V.
The corporate powers of this cor
poration shall be vested in and exer-
cised by a board of three directors
and their decisions and acts shall bind
this corporation. The first election
of the board of directors under this
charter shall be at meeting of the
stockholders to be held on the first
Monday in October 1909, and there
after the stockholders shall elect q
board of directors en- the first Monday
in October of each year, who shall
serve until their successors shall have
been elected and qualified. The
board of directors shall elect from
their number their officers. No per-
son shall be eligible as a director OF
hold any office Of this corporation who
is not stockholder. During the alb.
sence of the president, the vice presi.
dent shall act and preside in his stead
Notice of the election of the board Of
directors shall be given in writing by
mail addressed to each stockholder al
his usual place Of business ten days
prior to said election and the board Of
directors shall appoint one of the
stockholders to preside at said elec
ton, and in event said stockholders
shall fail to attend, the president
shall appoint a stockholder to fill hi!
vacancy. Any failure for any cause
whatever to elect directors on the day
named for that purpose shall not dis
solve this corporation but the directors
then in office and the encumbent off
GERS shall continue to serve until thei,
successors are chosen. At ever,
election and meeting of the stockhold
ers each stockholder shall be entitled
to one vote for each share of stool
registered in his name and the vot'
of the stockholders may be cast b.
proxy. The election Of directors
Shall be by ballot and the majority il
amount of votes cast, each share O
stock being counted as one vote
shall elect the person or persons TO
whom they are cast. The first boart
of directorr of this corporation shall
be composed of Geo. S. Leatherberry
,Jr., Tom White and Wilber L. Nc
Crarv, of whom Geo. S. Leather
berry shall be president, Tom Whit
vice president and Wilber L. Nc
Crary secretary and treasurer, VIII
shall serve until their successor
shall have been elected and qualified
ARTICLE vi.
The board of directors shall hav
full power to fill all vacancies in thei
number caused by death, resignation
or otherwise from among the stock
holders of this corporation. The SAT-
board shall have full power and con
troll of the property of this corpora
ton and shall conduct and manag
the same consistent with the object
for which this corporation is organ
lied and in accordance with the pre-
visions set forth in this charter. Sal
board is further organized to adop
such by laws, rules and regulations a
the affairs and business of this COZ
poration may require and as may b
necessary for the management of tn
| business thereof, provided the sam
shall not conflict with this charter G
: with the laws of the State of Louis
: ana, or of the United States. Th
boards of directors shall elect or az
point such further agents, servants
clerks or other employees as they ma
| deem necessary for the conducting c