St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1910-10-29
ARTICLE TIT.


and represented by ten thousand
100000 shares of the par value OF
nVe (S5.OO) each, which may be is
sued at not less than par for cash
or IN payment or exchange for prop.
erty or rights actually received OF
purchased by said corporation; pro.
Vlded no stock shall be issued unless
the consideration therefor has been
received by said corporation. All
transfers of stock shall be made on
the books of said company at its
ONCE at Abita Springs, La, on the
surrender of the certificate therefor
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 di-
rectors ten days written notice of his
intention or desire to dispose of his
stock, or part thereof, and allowing
the board of directors the first op-
portunity of purchasing the stock.
Said corporation shall become a
going concern and be authorized to
DO business as soon as three thou
sand ($3000.00) dollars of the CAPT.
tai stock shall have been subscribed
for.
ARTICLE w.
The corporate powers of this cor
poration shall be vested in and ex-
ercised by board of seven directors,
consisting of president, vice presi-
dent, secretary, treasurer and three
stockholders, four of whom shall
constitute quorum for the transac-
ton of business. Said directors shall
be elected annually from among the
stockholders on the third Tuesday
of September of each year, COM
mencing in September, 1911.
Notice of such election shall be
given at least ten days publication
in a daily of weekly newspaper pub
blished in the parish of St. Tam
many, Louisiana, Immediately pre-
ceding said election. At said cleo
ton and at all other meetings of the
stockholders the voting shall be by
ballot and each share of stock shall
be entitled to one vote by the owner
in person or by written proxy.
Within one week of their election,
as above provided for, the board of
directors shall elect from among
their number president, vice
secretary and a treas
urer, and all of said officers and d.
rectors shall hold their respective
offices for a period of one year from
the date of their election, or until
their successors are elected. But
the failure to hold an annual cleo
ton, or to elect the officers as above
provided for, shall not result in a
of this corporation, but
the then board of directors and Of
ficers shall hold their offices until
their successors are duly elected.
Any vacancies occurring in said
board of directors shall be filled by
he remaining members of the board
tor the unexpired term, at meet
ng called for That purpose after ten
lays prior notice in writing sent by
nail to said directors at their last
Known address.
The said board of directors shall
lave power to make all bylaws,
'ules and regulations for the proper
and conduct of the af-
airs of this corporation, and to
;hange, alter, abolish or amend same
1t pleasure, and shall exercise all the
covers conferred by law on this cor
'oration and as set forth generally
Dove. The said board of directors
nay also delegate any of said powers
n the transaction of the business of
his corporation to committees of
heir own body or to the officers and
gents of this corporation.
The first board of directors of this |
orporation are hereby declared to |
e Messrs. ]. L. Phillips, G. E. Millar,
!. B. Kustenmacher, Jos. Schuyler,
J. D. Wilbur, J. H. Dutsch and H.
|. Dutsch, with G.. E. Millar as
resident, A. B. Kustenmacher as
ice president, ]. H. Dutsch as secre-
AIRY, and H. A. Dutsch as treasurer,
tho shall hold their respective Of
ces until the third Tuesday in Sep
ember, 1911, or until their success
ors are duly elected.
1t shall be the duty of the presi-
emit of this corporation or in the
vent of his inability to act, the vice
resident, to call meeting of the
oard of directors or of the stock
olders thereof, on the written re-
Jest to that effect signed by three
more directors, or upon the writ
n request to that effect of fifteen
er cent of the capital stock issued.
ARTICLE v.
This corporation may be dissolved
a vote of three-fourths of the
pital stock thereof issued, at a
'neral meeting convened for that
'rpose after thirty days advertise {
ent in a newspaper published in
e parish of St. Tammany, Louisi-
Ia, Immediately preceding said '
Getting sent to each stakeholder I
irty days prior to said meeting, at {
S last known place of residence. is
Whenever this corporation is dis
lived, whether by limitation or r
herWise, its affairs shall be liqui- a
ted by three liquidating commits
'ners, to be elected at such general /
Getting, and in case of death or in 8
ility to act of any of the said
mmissioners, the surviving COM
ssioners shall appoint a successor,
d together they shall continued
CHI liquidation to it's termination.
ARTICLE vi. 1T
This charter may be changed, al
ed or amended, and the capital
'ck increased or decreased by a
te Of two-thirds of the capital stock tt
ued, at a general meeting called D
that purpose after thirty days b
or notice in writing having been O
1t to each stakeholder at his last C
own residence, stating the object m
said meeting, and forty days ad- tt
'tisement in a newspaper publish fl
in st. Tammany parish, Louisiana c;
ARTICLE VII. Lee
No stakeholder shall be held liable 81
responsible for the contracts or 81
Its of this corporation in any in
Their sum than the unpaid balance Of
) the cnrnnratinn on sharac oil