St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1910-05-14

qualified, in and for the Parish OF St.
Tammany, State of Louisiana, and in
the presence of the witnesses herein
after named and underS Sned, person
ally came and Appeared the parties
whose names are hercu..to subscribed,
all Of full age, who declare that, avail
ing themselves Of ms provisions OF
the laws of the Stat. Of Louisiana.
relative to the Organization of corpora
tons, they have covenanted and agreed,
and by these presents do covenant and
agree to bind themselves, as well as
such other persons as may hereafter
become associated with them, to form
and constitute a corporation and body
polite in law, for the purposes and OBJ
jects, and under the stipulations, ar
ticles and conditions following, to-
wit:
ARTICLE l.
The name and style of this corpora
ton shall be the SMITH HARDWARE
COMPANY. LIMITED" and by that
name it shall have power and author
ity to exist and enjoy succession for
the full term and period of ninety-nlne
years from date hereof, unless sooner
dissolved.
ARTICLE II.
The domicile of this corporation
shall be in the Town of Coyington.
in the Parish of St. Tammany, State of
Louisiana All citations and other
legal processes shall be served upon
the President, or in case of his abb
sence 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 III.
The objects and purposes for which
this corporation is established, and
the nature of the business to be
carried on by it, are hereby declared
to be: To do general wholesale and
retail hardware and building material
business, and to handle, incidental to
said business, a full line of wooden
ware, glass ware, crockery ware, tin
ware and granite ware, wagons, bug
gies, leather goods, and such other
lines of general merchandise as may
be deemed necessary to carry in stock,
incidental to the above enumerated
lines Of business.
ARTICLE ".
This corporation may sue or be sued
in its corporate name, make and use
a corporate seal, the same to alter and
break at pleasure; hold, have, receive
purchase. convey, sell, mortgage. ny
pothecate, pledge, lease, suitcase and
enjoy real, personal or mixed prop
erty; also"borrow and lend money and
make contracts; make and establish
such bylaws, rules and regulations as
may be necessary, and the same TO
change and alter at pleasure; and shall
possess all the rights and privileges to
which corporations are, or may be au-
thorized and entitled to possess. This
corporation may exercise its corporate
powers within any other State of this
Union.
ARTICLE v.
The capital stock of said corpora
ton shall be Twenty Thousand ($20.-
0Oo.o0) Dollars, divided into and repre-
scented by two hundred (20o) shares
OF the sum of One Hundred (s1oo;ooo
Dollars each, which said stock shall
be paid for in cash 1t the time of sub
scrIption, or the same may be issued
at not less than par, In payment or ex-
change for property or rights actually
received or purchased by said corpora
paid, for money advanced and for sucn
other valuable consideration or service,
as the Board of Directors of said cor
poration may determine, provided that
no stock shall be issued until consider
alton therefor has been received by
said corporation; said shares of stock
shall be signed by the President and
Secretary-Treasurer. At all elections by,
or meetings of, the stockholders, 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 to that effect
IN writing. This corporation to become
a going concern as soon as the sum OF
Ten Thousand ($10,00O.00) Dollars is
ARTICLE VI.
No stakeholder shall have the author
ity or right to sell Or otherwise dis
pose of his stock in whole or in part
without first giving the Board of Di-
rectors fifteen (15) days notice of his
of his stock or part thereof, and al
lowing the Board of Directors, or in
its default, any stockholder, the first
opportunity of purchasing the stock.
After which fifteen days, the said
stock may be sold in open market. The
stock of said corporation may be trans
ferred under the above conditions, pro-
vided such transfer be made on the
books of said corporation at it's office
at Covington, in the Parish Of st. Tam
many, State OF Louisiana, and on sur
render of the certificate therefor; the
Board of Directors shall have the right
to determine 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 four (4) stockholders.
No person shall be eligible as director
or officer as herein provided in this
Charter, who is not a stockholder in
this corporation.
The members of the Board of Di-
rectors shall be elected by majority
of the votes of the stockholders cast
at a meeting to be held for that pur-
pose each year. The following named
persons shall constitute the first Board
OF Directors, viz: Hardy H. Smith, AL
fred V. Smith, Archie r. Smith, Bar
clay NJ. Smith.
Said Board shall continue in Office
until April, 1911, on the first Monday
thereof, or until their successors are
elected. On which date, and thereafter
annually, an election for directors shall
be held at the office of the corporation
at CoVlngton, in the Parish of ST. Tam
many, State of Louisiana, after fifteen
tlo) days notice thereof shall have
been given by publication in one of the
newspapers published in the Parish of
st. Tammany, by two CD publications
thereof during that time.
A failure to elect Directors on the
date above mentioned shall not dissolve
thlS corporation, but the existing Board
OF Directors shall continue to hold Of
nee, and another election shall be held
as soon thereafter as practicable of
which notice shall be given in the
manner already provided for notice of
meetings.
Every Board of Directors shall elect
a President, a Vice-President and
treasurer, who shall also be the Secre-
tary, from among their own number.
The officers as herein created shall
,ou hiie drf for the ensuing year as fol-
President, A. V. Smith; Secretary.
Treasurer A. r. Smith,
ARTICLE VIII
ANY vacancy occurring in the Board
Of Directors, from any cause, shall be
filled by the remaining members of the
Board of Directors, from among the
stockholders of the corporations: three
90 members of the Board shall con-
stitute a quorum thereof, unless other
wise provided by the Board of Direc-
tors.
The Board OF Directors shall ,
such bylaws, rules and regulations as
they think necessary, and change and
alter the same at pleasure. Name and
appoint other officers and employees