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

| 100000 dollars, divided into
and represented by ten thousand
| lO,OOO) shares of the par value of
five ($5.00) 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 or
| purchased by said corporation; pro-
| vided no stock shall be issued unless
| the consideration therefor has been
received by said corporation. ALI
| transfers of stock shall be made on
| the books of said company at it's
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 ".
The corporate powers of this cor
poration shall be vested in and ex-
| ercised by board of seven directors,
| consisting of a 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
in 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 a president, a vice
president, a secretary and treas
urer, and all of said officers and d.
rectors shall hold their respective
| Offices for 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
| dissolution 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
| for the unexpired term, at meet
ing called for mat purpose after ten
days prior notice in writing sent by
| mail to said directors at their last
| known address.
The said board of directors shall
have power to make all bylaws,
| rules and regulations for the proper
management and conduct of the af-
fairs of this corporation, and to
change, alter, abolish or amend same
at pleasure, and shall exercise all the
powers conferred by law on this cor
poration and as set forth generally
above. The said board of directors
may also delegate any of said powers
| in the transaction of the business of
this corporation to committees of
their own body or to the officers and
agents of this corporation.
The first board of directors of this
corporation are hereby declared to
be Messrs. J. L. Phillips, G.. E. Millar,
A. B. Kustenmacher, Jos. Schuyler,
E. D. Wilbur, J. H. Dutsch and H.
A. Dutsch, with G. E. Millar as
president, A. B. Kustenmacher as
vice president, ]. H. Dutsch as secre-
tary, and H. A. Dutsch as treasurer,
who shall hold their respective Of
fees until the third Tuesday in Sep
TENDER, 1911, or until their success
sors are duly elected.
1t shall be the duty of the presi-
dent of this corporation or in the
event of his inability to act, the vice
president, to call meeting of the
board of directors or of the stock
holders thereof, on the written re-
quest to that effect signed by three
Or more directors, or upon the writ
ten request to that effect of fifteen
per cent of the capital stock issued.
ARTICLE v.
This corporation may be dissolved
by vote of three-fourths of the
capital stock thereof issued, at
general meeting convened for that
purpose after thirty days advertise
ment in a newspaper published in
The parish of St. Tammany, Louisi-
i'm, obi 10 01t dfyoO
meeting sent to each stakeholder
thirty days prior to said meeting, at
his last known place of residence.
Whenever this corporation is dis
solved, whether by limitation or
otherwise, it's affairs shall be liqui-
lated by three liquidating commits
sioners, to be elected at such general
meeting, and in case of death or in
ability to act of any of the said
commissioners, the surviving COM
missioners shall appoint a successor,
and together they shall continue
such liquidation to it's termination.
ARTICLE VI
This charter may be changed, al
tered or amended, and the capital
stock increased or decreased by
vote Of two-thirds of the capital stock
ssued at general meeting called
FOR that purpose after thirty days
prior notice in writing having been
sent to each stakeholder at his last
known residence, stating the object
of said meeting, and forty days adj
vertisement in newspaper publish
ed in st. Tammany parish, Louisiana.
ARTICLE VII.
No stakeholder shall be held liable
or responsible for the contracts or
faults of this corporation in any
further sum than the unpaid balance