St. Tammany farmer., 1909-04-10
Article LII

Article iii.
| The objects and purposes for which this cor
| poration is established and the nature of the
business to be carried on by it are hereby de-
| clared to be:
! To buy or sell, own, operate, run, manage,
! lease, hire or rent saw mills; to buy and sell
lumber in its manufactured state, timber, tim
Der lands, lands etc. to conduct lumber agen-
cies, and to build railroads, tram roads or
wagon roads for the furthering of the pur-
| poses for which this corporation is established,
and to do all acts necessary in the conducting
and carrying on of a general saw mill and lum-
Der export business, although such acts may
not be enumerated herein.
Article ".
This corporation may sue or be sued in its
corporate name, make and use corporate seal,
the same to break and alter at pleasure; hold
have, receive, purchase, convey, SELL mort
gage, hypothecate, pledge Tease, sub-ease,
and enjoy real personal and mixed property;
also borrow and lend money, and make con-
tracts; make and establish such by-IaWS, rules
and regulations as may be necessary, and the
same to alter and change at pleasure: and shall
possess all the rights and privileges to which
corporations are or may be authorized and en-
titled to possess.
This corporation may exercise its corporate
powers within any other State or Territory of
the Union.
Article v.
The capital stock of said corporation shall be
ten thousand tSiO,000J dollars, divided into and
represented by one hundred shares of the sum
said stock shall be paid for in cash at the time
of subscription, or the same may be issued at
not less than par, in payment of exchange for
property or rights actually received or pur-
chased by said corporation, or the same may be
iSsaed full paid, for money advanced and for
such other valuable consideration or service
as the Board of Directors of said corporation
may determine, provided that no stock shall
issue until consideration therefor has been
received by said corporation. Said shares of
stock shall be signed by the President and Sec
retary-Treasurer.
At all elections by, or meetings of the stock
holders, each share of stock shall be entitled
to one vote to be cast by the person in whose
name the stock appears on the books of the
corporation or by his agent or proxy, duly
authorized 10 that effect in writing. This cor
poration to become a going concern as soon as
the sum of three thousand and five hundred
dollars is subscribed for and paid in.
Article vi.
No stakeholder shall have authority or right
to sell or otherwise dispose of his stock in
whole or in part, without first giving the Board
of Directors fifteen days notice in writing of
his intention or desire to dispose of any of his
stock or part thereof, and allowing the Board
of Directors or in its default any stock-holder,
the first opportunity of purchasing the stock,
after which fifteen days, the said stock may be
sold in open market. The stock of said corpo-
ration may be transferred under the above
conditions, provided such transfer be made on
the books of said corporation at its office at
Folsom, in the Parish of St. Tammany State of
LOuISldIld, anu on SURRENDER OF the CSrrlHCdtSS
therefor. The Board of directors shall have the
right to determine how much stock shall be
issued.
Article VII.
The business affairs and corporate powers of
this corporation shall be transacted by Board
of Directors to be composed of three stock
holders. No person shall be eligible as Drec-
tor or officer as herein provided in this charter
who is not Stockholder in this corporation.
The members of the Board of Directors shall
be elected by majority of the votes of the
stockholders cast at meeting to be held for
that purpose, each year. The following named
persons Shall constitute the first Board of Di-
rectors: Geo. D. CantrelIe, J. H: Cassels and
William P. Cantrelle. Said Board shall continue
in office untiFMarch f9i0, on the first Monday
thereof, or until their successors are elected.
On which date, and thereafter annually, an
election for directors shall be held at the office
of the corporation, at Folsom, in the Parish of
st. Tammany, State of Louisiana, after fifteen
days notice thereof shall have been given by
publication in one of the newspapers published |
in the Parish of st. Tammany, by two publica-
tons thereof during Said time.
failure to elect Directors on the date above
shall not dissolve this corporation
tinue to hold office, and another election shall
be held as soon thereafter as practicable, of
which notice shall be given in the manner al |
ready provided for notice of meetings. /
Every Board of Directors shall elect a PreSi-
dent. Vice President and Treasurer who will |
also be the Secretary, from among their own |
number.
The offices as herein created shall be filled |
for the ensuing year as follows: Geo. D. Can
trele, President; J. H. CaSselS, Yice-President;
and VIM. P. Cantrelle, Secretary Treasurer.
Article VIII. |
ANY vacancy occurring in the Board of Direc-
tors, for any cause, shall be filled by the re- |
naming members of the Board of Directors
from among the stockholders of the corpora |
ton. Two members of the Board shall consti- /
tute quorum thereof, unless otherwise pro-
yided bY the Board of Directors.
The Board of Directors shall make such by
laws, rules and regulations as they think neces- 1
Sary, and change and alter same at pleasure. |
Name and appoint other officers and employees |
and fix their salaries, term of service, with the 1
right to dismiss them at said Boards pleasure. /
And said Board shall have the right to deter |
mine and fix the salaries and duties of the sew
eral officers herein provided for and ascribe /
other duties to said officers as will best sub \
serve the interest and welfare of the corpora
ton. They shall also have the power to sell, |
convey, mortgage, pledge, lease, sub-lease and |
purchase property, movable, immovable, per-
sonal and mixed; borrow and lend money, and l
issue notes and bonds and make contracts, and |
to do all things which may be necessary to /
properly transact and manage the business of /
the corporation.
Article TX.
This act of incorporation may be changed, |
modified or amended, or said corporation may |
the amount of stock present or represented at |
general meeting of the stockholders, of said |
corporation, and convened for such purpose |
after 80 days previous notice of such meeting |
shall have been given by advertisement in one |
Of the newspapers published in the Parish of ST. |
Tammany by publications during said time. |
this corporation is dissolved, either |
by limitation or from any other cause, its af- I
fairs shall be liquidated under the superintend-
ance of three commissioners chosen for the |
purpose from among the stockholders by a |
majority in amount of the stockholders as |
Observation-Disclosures article
In the event of the death of any of said COM |
niSsionerS, the survivors shall continue to act |
Article
No stockholder of this corporation shall ever
be held liable responsible for the contracts or
faults thereof in any further sum than the un- |
paid balance due the corporation on the shares |
subscribed for or owed by him, nor shall any
in organization have the effect of |
this charter null, or exposing stock
holder to any liability beyond the unpaid bal |
ance, if any, of his stock.
Thus done and passed in my notarial office, in |
the town ofCovington, Parish of st. Tammany,
State of Louisiana, on the day, month and year
herein first above written, in the presence of |
witnesses of lawful age, and resi- |
dents of said town, who hereunto sign their |
names, together with said parties and me, said /
notary, after reading of the whole.
Signed GEO. D. CANTRELLE, |
J. H. CASSELS,
W. H. CANTRELLE.
Witnesses:
6. L. CASSELS, !
w. G, CORE.
EDW. H. RICHARD, Notary Public.
A true copy,
EDW. H. RICHARD, Notary Public.
State of Louisiana Parish of st T3mmanv I |