St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1909-10-02
ARTICLE ".

The capital stock of this corpora
tion is hereby fixed at the sum of
/ twelve thousand dollars, to be divided
into and represented by twelve thous-
aud shares of the par value of one
dollar; which capital stock may be in
creased or decreased in the manner
provided by the laws of the State
of Louisiana. Said stock shall be paid
for in cash, or its equivalent in per-
sonal or real property received for
services rendered, or labor performed,
| in such manner and under such terms
as the Board Of Directors may fix or
determine, but no certificate or stock
shall be issued until the same has
been paid for either in cash, property
received, services rendered or labor
performed No transfer of stock
shall be binding upon this corporation
unless recorded upon its books, and
until the certificate of stock shall have
been delivered to the corporation and
duly cancelled.
ARTICLE v.
All the corporate powers of this
corporation, and the management and
control of it's affairs shall be vested
in and exercised by a Board of Di-
rectors, composed Of nine stockhold-
ers, of whom five shall constitute
quorum for the transaction of all
business, the number of said Board of
Directors may be increased at the op-
tion of the Board of Directors, but in
all cases majority of the number of
said Board of Directors shall consti-
tute a quorum thereof. Said Board
of Directors shall be elected on the
Fourth Monday of the month of Aug
ust, of each year and shallimmediately
after their election, elect from among
their own number a President, Vice
President and a Treasurer each of
whom shall be stockholder. They
shall also elect secretary, who may
or may not be stockholder. Each
stockholder shall be entitled in person
or by proxy to one vote for every share
of stoc k owned by him or her. All
elections shall be by ballot and held
at the office Of said corporation, under
the superintendent of two commits
sioners to be appointed for that pur-
pose by the Board of Directors. A
majority of votes cast shall elect
said Board of Directors with the
officers thereof shall continue in
office for one year, and until their sue
cessors have been elected and quail
fed. Notice Of the election of a
Board Of Directors shall be given by
publication in some newspaper pub
lished at the domicile of said corpora
tion for period of at least ten davs
previous to said election, and by
written notice mailed to the last
known address of each stockholder at
least ten days previous to said election.
The first election of a Board of Di-
rectors under this charter shall take
place on the 4th Monday of August,
1910, until which time, or until their
successors have been duly elected and
qualified the following named per
sons shall constitute the first Board of
Directors, namely DR.. B. B. Warren,
A. V. Smith, S. D. Bulloch, E. P.
Singletary, Prof. w. H. Drummet,
A. H. Grimmer, Leon Hebert, Paul J.
Lacroix and Geo. M. Fendlason, of
whom DR.. B. B Warren, shall be
President; A. H. Grimmer Vice-Presi-
dent; S. D. Bulloch, Treasurer and
W. G. Evans, Secretary. The failure
from any cause to elect Directors on
the day stipulated shall not dissolve
this corporation, but the officers and
directors then in Office shall hold over
until their successors have been elect
ed and qualified. In the event of fail
ure to hold the election on the day
stipulated, the President shall call a
new election, Immediately thereafter,
within ten days notice as hereinabove
provided. Amy director shall have the
right to appoint another stockholder
as his proxy to attend any and all
meetings of said Board of Directors.
ARTICLE VI.
The Board of Directors shall have
power to fill all vacancies occurring
in it's membership from among the
stockholders of the corporation. They
shall have full control of the property
of this corporation and shall conduct
and manage its business. They shall
appoint such officers, agents, man.
ayers, employees, servants and clerks
as may be necessary for conducting
the business and affairs of the cor
poration, shall fix their compensation
and shall have the right to dismiss
them at pleasure, and may make and
establish, as well as alter and amend,
any and all bylaws, rules and regula-
tions for the conduct, support and
management of the business and
affairs of the corporation. Said Board