St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1910-04-30

DC PAID lot III CdSu dt LIE Time Ol SUI
| scrlption, or the same may be issue
| at not less than par, in payment or ex
change for property or rigE $ actual
received or purchased by said corpora
| ton, or the same may be .ssued, full
| paid, for money advanced and for sue
| other valuable consideration. or service
| as the Board of Directors of said cor
| poration may determine, provided tina
no stock shall be issued until consider
| alton therefor has been received b
| said corporation; said shares of stool
shall be signed by the President an
or meetings of, the stockholders, eacI
share of stock shall be entitled to on
vote to be cast by the person in who's
name the stock appears on the book
of the corporation, or by his agent o
proxy, duly authorized to that effec
IN writing. This corporation to becom
a going concern as soon as the sum 0
Ten Thousand ($1o,o00.oo) Dollars il
subscribed for and paid in.
ARTICLE vi.
No stockh older shall have the auth or
ity or right to sell or otherwise dis
pose of his stock in whole or in par
without first giving the Board OF Di
rectors fifteen l5) days notice Of hi!
intention or desire to dispose of an,
Of his stock or part thereof, and al
lowing the Board of Directors, or il
its default, any stockholder, the frs
opportunity of purchasing the stock
After which fifteen days, the sale
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 a Board of Directors to
be composed of four "a stockholders
No person shall be eligible as director
or officer as herein provided in this
Charter, who is not stockholder in
this corporation.
The members Of the Board of Di-
rectors shall be elected by a majority
of the votes OF the stockholders cast
at 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.
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
(l5) days notice thereof shall have
been given by publication in one Of the
newspapers published in the Parish of
st. Tammany. by two 90 publications
thereof during that time
A failure to elect Directors on the
date above mentioned shall not dissolve
this corporation, but tho existing Board
OF Directors shall continue to hold Of
flee, and another election shall be held
as soon thereafter as practicable, Of
manner already provided for notice of
meetings.
Every Board Of Directors shall elect
a President, Vice-President and a
Treasurer, who shall also be the -Secre-
tarX, from among their own number.
be filled for the ensuing year as fol-
President, A. v. Smith; seereta .rs
Treasurer, A. r. Smith.
ARTICLE VIII.
any vacancy occurring in the Board
of Directors, from any cause, shall be
hlled by the remaining members of the
Board of Directors, from among the
of the corporation; three
% members of the Board shall CON
tors.
The Board Of Directors shall make
such bylaws, rules and regulations as
they think necessary, and change and
after me same at pleasure. Name and
and fix their salaries, term of service
with the right to dismiss them at said
Boards pleasure. And said Board
shall have the right to determine and
NIX the salaries and duties of the sew
eral officers herein provided for, and
ascribe other duties to said officers as
VIII best subserve the interest and wei
fare of the corporation
they shall also have the power to
SCI ser, convey, mortgage, pledge, lease
able, 1mmovable, personal and mixed:
borrow and lend money, and issue notes
and bonds, make contracts and to do
all things which may be necessary to
properly transact the business Of this
N
ARTICLE IN.
rms act OF incorporation may be
changed, modified or amended. or said
corporation may be dissolved with the
consent of a majority of the amount
81 s.oEk present present or represented at
OF SAID corporation, and convened for
such purpose, after thirty days pre-
y1ous notice of such meeting shall have
Deen given by advertisement in one Of
TN! the newspapers published in the Par
a..
tons during said time
whenever this corporation is dis
solved, either by limitation or from
any other cause, its affairs shall be
INUNDATED under the superintendent
Of three commissioners chosen for the
purpose from among the stockholders.
oy majority in amount of the stock
nolders, as above set forth in this
article. In the event of the death or
inability. to act of any one Of said
com mlssioners, the survivors shall con-
Einue to act.
ARTICLE x
NO stockholder Of this corporation
shal! ever be held liable or RESPONSE
PIE Tor the contracts or faults thereof,
m any further sum than the unpaid
shares subscribed for or owned by
him. nor shall any informality in or
ganizatfon have the effect of rendering
ms charter null, or exposing a stock
holder to any liability beyond tho un-
THUS DONE AND PASSED. f,'i in NV
notarlal ONCE. in the Town of Coving-
ton, Parish of St. Tammany, State Of
Louisiana, on the day, month and year
herein first above written, in the pres.
TmSe Of AUGUST Co1G and G. BoU-
awful age, and residents OF said town,
who hereunto sign their names, to-
getner with said parties and me, Mo-
[ary: after reading Of the whole.
Witnesses:
AUGUST COIG.
!. BoUDOUSQUIE
(Signed HARDY H. SMITH.
70 sares.
(signed) A. V. SMITH, 40 shares.
(SignedD ARCHIE r. SMITH,
10 shares.
(signed) BARCLAY M. SMITH.
20 shares.
(S1sned) EDW. H. RICHARD,
Notary Public.
STATE OF LOUISIANA,
Parish Of st. Tammany.
L, the undersigned Recorder of Mort
cages in and for the Parish OF ST Tam