St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1911-01-14
ARTICLE w.

said stock shall be issued only for
cash, or in payment OF property or
services actually received by or rem
dered to said cooperation. This
corporation snail commence business
and become going concern as soon
as six Thousand dollars of it's capital
paid for; 8 the residue of said stock
to be issued and payment made there
for; said stock shall be fully paid at
the time of its issuance and there
after worcestershire, and the capital
stock may be increased or decreased
In the manner provided by the laws
of this State.
The parties to this act declare that
they hereby subscribe for the num-
Der of shares of said capital stock
set opposite their respective sigma
lures herto. 80 that this act of in
corporation shall serve as an original
subscription.
ARTICLE v.
All the powers of thic corporation
shall be vested in and be exercised
by board of directors, to be elected
each year by the stockholders at the
annual meeting; the said directors
shall be bona flde stockholders, and
the first board shall consist Of: Jas.
S. Jones, Thomas C. Adams and E.
Jones, with Jas. 8. Jones, president;
Thomas C. Adams, vice president and
secretary, and e. Jones, treasurer.
On the Saturday next preceding the
second Monday of December, 1911,
and annually thereafter, except when
such day shall fall on legal holiday,
then upon the next following lay-day,
the stockholders shall elect board
of directors for the ensuing year, the
board already installed to continue
to hold oevr until their successors
are elected and qualified. The board
OF directors so elected shall elect
from their own number the officers
of the corporation which shall be a
president, vice president and secre-
tary and q treasurer. The election
of directors shall be by ballot, and
the persons receiving the largetst
number of votes cast shall be de-
clared elected. For electing directors,
or for any other purpose, each share
Of stock, whether present Of by proxy,
shall be entitled to one vote, and a
majority of the votes cast shall be
required to pass any resolution or
decide any question submitted to the
stockholders, except for the altera-
ton or amendment of this charter,
or the dissolution of the corporation,
as hereinafter provided.
The said board of directors shall
have power and authority to make
all necessary rules and regulations
for the management, operation and
control of the business of the cor
poration, as we'll as to make all
necessary rules and bylaws, with
power to fill any vacancy occurring
in their number. A majority of the
directors voting at any one time, in
person or by proxy, shall be required
to pass any resolution or adopt any
bylaws, and which, when 80 adopted,
shall become valid corporate acts.
Notice Of all meetings of stock
holders, for electing directors orr or
any other purpose, shall be given, in
writing, by the secretary, to be de-
posted in the mail at least ten days
before such meeting, directed to each
stockholder at his last known ad-
dress, appearing upon the books of
the corporation, unless said notice
is waived in writing by all the stock
holders appearing as such upon the
books.
ARTICLE VII. g.
Whenever this corporation is dis
solved, either by limitation of its
charter or from any other cause, its
affairs and business shall be liquid
ated by three commissioners, to be
appointed from among the stock
holders, at general meeting there
Of, to be convened after ten days
prior notice to be given in one Of
the newspapers published in the
town of Covintogn, in addition to the
notice to each stakeholder provided
in Article vi hereof, and by the af-
nrmative vote of three-fourths' of the
stock of the corporation shall have
been fully liquidated, and, in case of
the death of one or more of such
commissioners, the survivors or sur
vivor shall continue to act
ARTICLE VIII.
This act of incorporation may be
modified, added to, changed or
amended, or this corporation may be
dissolved by and with the assent OF
the holders of three-fourths in
amount of its then outstanding CAPT
tai stock, given at general meet
ing Of the stockholders of the cor
poration, to be convened for such
purpose after ten days prior notice
to be given In one of the newspapers
published in the town Of Covington
in addition to the notice to the stock
! holders as provided in Article vi OF
this charter.
ARTICLE TX.
No stakeholder shall be held
liable or responsible for the contracts
| further sum than the unpaid balance
due the corporation in the shares
| owned by him, nor shall any mere
| informally in organization have eff
feet of rendering this charter null
or of exposing stakeholder to liabil
| ity beyond the amount of his unpaid
stock, il any.
| Thus done and passed, at my Office
in the town Of Coingtvon, On the day
month and year hereinafter written
| in the presence of Messrs. S. c. Har
and George Sawaya, competent wit
nesses, who hereunto sisned thei
names, together with said appearerl
and me, notary, after due reading o
the whole.
Witnesses:
S. C.. HART.
| GEORGE SAWAYA.
Original signed:
JAS. S. JONES, 80 shares.
| THOMAS G. ADAMS,
20 shares
WARREN THOMAS, / share
e. JONES. | share,