St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1910-12-24

a going concern as soon as five thou
sand dollars of its capital stock shall
have been subscribed and paid FOR;
the residue of said stock TO be issued
and payment made therefor; said
stock shall be fully paid at the time
OF its issuance and thereafter non
assessable, and the capital stock may
be increased or decreased in the man
ner provided by the laws OF this
State.
The parties to this act declare that
they hereby subscribe for the num-
Der or shares of said capital stock
set opposite their respective sigma
lures hereto, SO that this act OF IN
CORPORATION shall serve as an orlgl-
nal subscription.
All the powers of this corporation
shall be vested in and be exercised
by board of three directors, to be
elected each year by the stockhold-
ers at the annual meeting; the said
directors shall be bona fide stock
holders, and the first board shall
consist of James S Jones, Thomas
C. Adams and E. Jones, with James
S. Jones as president, Thomas c.
Adams, vice president and treasurer,
and e. Jones secretary
On the Saturday next preceding
the second Monday of December,
1911. and annually thereafter, except
when such day shall fall on a legal
holiday, then upon the next follow
ing lay-day, the stock holders shall
elect a board of directors for the
ensuing year, the board already in
stalled to continue to hold over until
their successors are elected and quail
fed. The board of directors so elect
ed shall elect from their own number
the officers of the corporation which
shall be president, vice president
and treasurer and secretary. The
election of directors shall be by
ballot, and the persons receiving the
largest number of votes cast shall
be declared elected.
For electing directors, or for any
other purpose, each share of stock
whether present or by proxy, shall
be entitled to one vote, and a major
ity of the votes cast shall be required
to pass any resolution or decide any
question submitted to the stockhold-
ers except for the alteration or
amendment of this charte, or the
dissolution of the corporation, as
hereinafter provided.
The said board of directors shall
have power and authority to make
all necessary rules and regulations
for the management, operation and
control of the business of the corpor-
alton, as we'll as to make all neces-
sary rules and bylaws, with power
&1 n
number. A majority of the directors
voting at any one time, in person or
by proxy, shall be required to pass
any resolution or adopt any bylaws,
and which, when adopted, shall be-
| come valid corporate acts.
ARTICLE vi.
Notice of all meetings of stock
holders, for electing directors, or for
| any other purpose, shall be given, in
| writing, by the secretary, to be de-
posted in the mail at least ten days
before such meeting, directed to each
stockholder at his last known adj
dress, appearing upon the books of
| the corporation, unless said notice Is
waived in writing by all the stock
holders appearing as such upon the
! books.
ARTICLE VII.
| Whenever this corporation is dis
| solved, either by limitation of its
charter or from any other cause, its
| affairs and business shall be Hqu1-
dated by three commissioners, to be
appointed from among the stock
holders, at a general meeting there
of, to be convened after ten days
prior notice to be given in one OF
the newspapers published in the town
of Covington, in addition to the no.
tice to each stockholder provided in
Article vi hereof, and by the affirma-
tive vote of three-fourths of the stock
of the corporation shall have been
fully liquidated; and, in case Of the
missioners, the survivors or survivor
shall continue to act
ARTICLE VIII.
This act of Incorporation may be
modified, added to, changed OF
amended or this corporation may
be dissolved by and with the assent
of the holdeds of three-fourths in
amount of its then outstanding capi,
tai stock, given at a. general meet
ing of the stockholders of the cor.
poration. to be convened for such
purpose after ten days prior notice
to be given in one of the newspapers
published in the town of Covington
in addition to the notice to the stock
holders as provided in Article vi o.
this charter.
II ARTICLE TX.
No stockholders shall be helt
liable or responsible for contracts o.
faults of this corporation, in an!
further sum than the unpaid balance
due to the corporation on the shares
; owned by him, nor shall any mer.
informality in organization have Ell
! feet of rendering this charter null o
e of exposing stockholder to liabilit.
8 beyond the amount of his unpai'
stock, If any.
Thus done and passed, at my off1c
in the town of Covington, in the pres
r ence of Messrs S. C. Hart and Georg
d Sawaya, competen witnesses, VIII
e hereunto signed their names, to
4 gether with said appearers and me
r notary, after due reading or tn
!; whole.
J., Witnesses:
Il S. C. HART.
Il GEORGE SAWAYA.
), Original signed:
IL JAS. S. JONES, 4S shares.
h THOMAS C. ADAMS, share
y e. JONES, share.
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