St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1910-05-28

patent medicines, proprietary goods,
perfumeries, toilet articles, cigars.
tobacco, soda water, ice cream and
any other merchandise necessary in
the conduction of such business.
ARTICLE III.
The capital stock of this corporation
shall be three thousand ($3, ,00O) dol
lars, divided up into three thousand
shares of one dollar each, which shall
be paid as fellows: Cash on purchase
or in service rendered or goods fur
nished equal to the cash value of the
stock. This corporation shall begin
business as soon as five hundred dol
lars of its stock have been paid for in
cash. The board of directors shall
have the right to determine how much
of the stock shall be issued.
ARTICLE w.
The corporate powers shall be vested
in board of directors composed of
the President, vice president, secretary
and treasurer, and two other stock
holders, selected by the other three,
and three of said directors shall con-
stitute a quorum for the transaction
of all business, and their decisions
shall be valid and corporate acts. The
following persons shall be the first
officers and board of directors of this
corporation: DIR. R. B. Paine Presi-
dent; J. H. Davis vice president; W.
j. Tucker, secretary and treasurer.
No person shall serve as director or
hold any Office unless they shall own
at least one hundred dollars worth of
stock in said corporation.
The said board will hold Office until
the first Thursday in April, 1911, on
which date, and thereafter annually,
a board of directors and officers shall
be elected, unless the above named
date be legal holiday, when an cleo
tion for that purpose shall be held on
next legal day thereafter.
Notice of such an election shall be
given by sending each stockholeer a
postal card at least ten days before
the election is held. The board OF
directors shall appoint three stock
holders to preside and act as commits
sioners of election, and in the event
of failure of any of the commissioners
to attend and perform their duty, the
secretary shall, by appointment from
the president, act in their stead.
Should for any reason whatever no
election be held, the officers and board
of directors shall hold offices until
their successors have been elected
and qualified. In such an event the
president shall issue a call for an
election every thirty days until such
time as he may get a quorum to-
gether. At every election and meet
ing, each stockholder shall be entitled
to one vote for each share of stock
held by said stockholder and must
vote in person. After each election
the board of directors shall elect the
manager of the drug store, and other
employees necessary, by ballot.
The said board shall have full con-
troll of the property of this corpora
tion and shall so conduct, manage and
use same as in their discretion they
may deem fit. The said board is fur
ther authorized to form and adopt
such by laws, rules and regulations as
is necessary for the proper conduct of
the business affairs of their corpora
tion, fix the compensation of employ
ees, and determine amount of COM
pensation due the organizer of this
corporation, which shall be payable in
stock of this corporation.
ARTICLE v.
The charter of this corporation shall
be changed, modified or amended, the
capital stock increased or decreased,
or this corporation dissolved at a
general meeting of the stockholders
convened for that purpose.
Ton 6avc r,rior potioo ne ,,,,L ,~~~.k
ing must be given each stockholder
by postal card. No meeting for any
of said purposes, however, shall be
held, unless petitioned to the president
for by at least seven stockholders,
the president shall issue a
call for meeting.
ARTICLE vi.
In case of dissolution or termination
OF this corporation, either by limita-
ton of its charter, or any other cause.
the liquidation of its affairs shall be
conducted by three commissioners
selected from the stockholders at a
called for that purpose. Said
commissioners shall hold office until
the affairs of this corporation shall be
fully liquidated.
ARTICLE VII.
No stockholder shall be held liable
for any contracts or faults of this as
sociation further than the amount of
stock held by him or her, nor shall
any informality in organization have
the effect of rendering this charter
null, or exposing any stockholder to
any liability beyond the value of his
or her stock.
Original signed:
r. B. PAINE,
JOHN H. DAVIS,
VIM. j. TUCKER,
WILLIAM H. DAVIS, .
1SOM H. KELLER.
Witnesses:
F. Edw. Vix,
Ii no~s.