St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1909-03-27
Charter
THE FOLSOM EXPORT LUMBER co. LTD.

the United States the one hundred and thirty
fourth; before me, Edward H. Richard, a notary
public in and for the parish of St. Tammany,
State of Louisiana, aforesaid, duly commission
ed and qualified, and in the presence of the
witnesses hereinafter named; and undersigned
personally cameand appearedthe parties whose
names are hereunto subscribed, all of full age,
who declare, that avaiing themselves of the
provisions of the laws relative to the organiza-
ton of corporations, they have covenanted
and agreed, and by these presents do covenant
and agree and bind themselves, as well as such
other persons as may hereafter become asso-
ciated with them, to form and constitute a
corporation and body polite in law, for the
purpose and objects and under the stipulations,
articles and conditions following to-wlt:
Article l.
The name and style of this corporation shall
be The FOLSOM EXPORT LUMBER COMPANY,
LIMITED, and by that name, it shall have power
the full term and period of ninety-nine years
from date hereof, unless sooner dissolved.
Article II.
The domiciIe of this corporation shall be in
the town of Folsom, Parish of St. Tammany,
State of Louisiana. All citations and other le-
gal processes shall be served upon the Presi-
denton in case of his absence or inability to
act upon the Vice President. The President
shall be the executive officer of the corporation,
and shall preside at the meetings of the Board
of Directors and Stockholders.
Article ILL.,
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 turtherng of the pur-
poses for which this corporation is established,
ana to do all acts necessary in the conducting
ana carrying on of general saw mill and lum-
Der export business, although such acts may
not be enumerated herein.
Article Nv.
This corporation may sue or be sued in its
corporate name, make and use acorporate seal,
the same to break and alter at pleasure; hold.
have, receive, purchase, convey, sell, mort
gage, hypothecate, pledge, lease, sub-lease,
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 tS1O,OO0l dollars, divided into and
represented by one hundred shares of the sum
of one hundred t$100D dollars each, which
said stock shall be PAID for in cash at the time
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
issued 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
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 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 stakeholder,
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
Louisiana, and on surrender of the certificates
right to.determne 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 Direc-
tor or officer as herein provided in this charter,
who is not stakeholder 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 Dir
rectors: Geo. D. Gabrielle, ]. H. Cassells and
William P. Gabrielle. Said Board shall continue
in office until March 1910, on the first Monday
thereof, or until their successors are elected.
On which date, and thereafter annually, an
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
mentioned, shall not dissolve this corporation,
but the existing Board of Directors shall con-
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
alsobe the Secretary, from among their own
number.
The offices as herein created shall be filled
for the ensuing year as follows: Geo. D. Can
trelle. President; J. H. Cassels. Vice-President;
and VIM. P. Gabrielle, 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-
vided by the Board of Directors.
The Board of Directors shall make such by
laws, rules and regulations as they think neces-
Sary, and change and alter same at pleasure
Name and appoint other officers and employees
and fix their salaries, term of service, with the
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 Tor, 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 anc
purchase property, movable, immovable, per-
Sonal and mixed; borrow and lend money, arC
issue notes and bonds and make contracts, anc
| to do all things which may be necessary tc
properly transact and manage the business O
| the corporation.
Article TX
This act of incorporation may be changed
| modified or amended, or said corporation ma!
| be dissolved with the assent of majority o
| the amount of stock present or represented a
| general meeting of the stockholders, of sail
corporation, and convened for such purpose
after 80 days previous notice of such meeting
shall have been given by advertisement in on
of the newspapers published in the Parish of ST
| Tammany by four publications during said time
Whenever this corporation is dissolved, eithe
| by limitation or from any other cause, its af
| fairs shall be liqudated under the superintend
ance of three commissioners chosen for tn
purpose from among the stockholders by
| majority in amount of the stockholders a
| above set forth in this article.
In the event of the death of any of said com
! missionerS, the survivors shall continue to act
| Article
| No stockholder of this corporation shall eve
be held liable or responsible for the contracts o
| faults thereof in any further sum than the un
/ paid balance due the corporation on the share
/ subscribed for or owed by him, nor shall an
| informality in organization have the effectH
| rendering 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, il
| the town of Covington, Parish of st. Tammany
State of Louisiana, on the day, month and yea