St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1909-01-16

polite in law, for the objects and
purposes and under the conditions.
agreements and stipulations follow
ing, which they hereby adopt as their
charter:
ARTICLE /.
H. The name and title of said CORPORA
ton shall be THE SANFORD MANU-
FEATURING AND REFINING COM
PANY, LIMITED, and under said
corporate name, it shall have power
and authority to have and enioy sue
cession for the full term and period
of ninety-nine years from and after
the day and date hereof; to contract,
sue and be sued; to make and use a
corporate seal and the same to break
or alter at pleasure; to hold, receive,
lease, purchase and convey, as well
as mortgage and hypothecate, under
its corporate name, property, both
real and personal; to acquire any and
all such property (real and personaD;
to buy, sell and hold the stocks, bonds
and securities of other companies en-
gagged in similar lines of business; to
erect all such buildings, machinery,
fixtures and appliances and apparatus,
and do all such acts and things, as
are or may be necessary and proper
to carry out the objects and purposes
of said corporation.
ARTICLE II.
The domocile of said corporation
shall be in the Town of Covington,
Parish of st. Tammany, in the State
Louisiana, and all citations or other
lnnnE oha11 hx, %LoI
President of said corporation, or in
case of his absence, upon the Vice
President, or Secretary thereof.
ARTICLE III.
The objects and purpose for which
this corporation is established and the
nature of the business to be carried
on by it, are declared and specified to
be as follows: To buy, sell, manufac-
ture and refine sugar, molasses, syrup
and all the by-products of sugar pro-
ducing substances, and to do any and
all other things incident or pertinent
for the promotion and success of the
objects and purposes and the business
hereinabove stated.
ARTICLE w.
The capital stock of this corpora
ton is hereby fixed at the sum Of one
million dollars, divided into or repre-
sented by ten thousand shares of one
hundred dollars each, which stock
may be issued at not less than par
for cash, or in payment or exchange
for property or rights actually receiv-
ed or purchased by said corporation,
provided that all stock certificates
shall be signed by the President and
Secretary of said Corporation, and no
stock shall be issued unless the con-
sideration therefor has been received
by said corporation.
All transfers of stock shall be made
on the books of said company at its
Office at Covington, st. Tammany
Parish, La, on the surrender of the
certificate therefor
This corporation shall commence
doing business as soon as three thou
sand dollars of its capital stock shall
haye been subscribed for.
ARTICLE V.
All the corporate powers of said
corporation shall be vested in and ex-
ercised by a Board of Directors COM,
posed of three stockholders to be
elected annually, on the first Thurs
day Of February, the first election to
be held in 1910. 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 a majority of
votes cast shall elect; and the persons
elected at each election shall consti-
tute 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 directors 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 NEE ting following the election in
each yestr shall elect from its number
a President, a Vice President, and a
Secretary, and shall appoint one of
said officers to act as Treasurer.
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 estab-
lish, as well as amend and alter, all
bylaws, rules and regulations re-
quisite for the support and manage
ment of the business of said company.
| Said Board of Directors shall have
power and autho rity to borrow money,
execute mortga ges, 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 incorpora tion, or any
article in this charter, may be chang.
ed, altered or amended, it's capita
stock may be increased or decreased,
or the. corporation may be dissolved
at q general meeting of the stock.
holders convened for such purpose,
after notice shall have been given by
mail; provided the owners of three,
fOurtts of the shares shall vote ir
favor of such change, alteration,
amendment or dissolution, and provid.
ed that notice of such changes as may
be made in reference to the capita
stock shall be given as provided by
law, and that no change in the capita
stock shall be made except in the
manner and on the vote required by
law.
ARTICLE VII.
The First Board of Directors shall
consist of George E. Sanford, John /
Sanford and 7. A. Vaughan, Of
whom George E. Sanford shall b.
I President and Treasurer, T. A
I Vaughan, Vice President, and John l