St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1911-03-18

convenience may require; to make
and establish such bylaws, rules anf
regulations for the proper manage
ment and regulation of it's affairs As
may De deemed necessary and proper
TO carry out the objects and pur.
poses OF said corporation.
SAID corporation, unless soone,
dissolved, in accordance with its
charter, shall exist or continue fo,
the period of ninety-nine years from
and after the date hereof.
u. me president, or in his absence
the vice president, or in the absence
OF both, the secretary shall be the
proper person upon whom citation
or other legal process shall be sery-
ed. w
ARTICLE II.
The objects and purposes for
which this corporation is formed and
the nature of the business to he
carried on by it, are hereby declared
TO De: The operation of a hotel in
all of it's branches; the leasing or
letting OF same in whole or in part
Tor motel, or commercial purposes,
or otherwise; the manufacture of ice.
electricity and the production of
water for the use of said hotel. with
the right to sell said ice, electricity
or water to the general public: to
purchase for cash or on terms of
credit, such lands or buildings. or
TO cause such buildings to be erect
ca, as shall be necessary to the con-
duct OF the aforesaid business, and
generally to do all things incidental
70 the proper management or con-
troll of said business.
ARTICLE III.
The capital stock of this corpora
ton is hereby fixed at fifty thousand
$3.50, 000.0O) dollars, divided into
and represented by five hundred
(50O) shares of the par value of
one hundred ($100.00) dollars each,
which stock may be issued at not
less than par for cash, or in pay
ment of exchange for property or
rights actually received or purchas-
ed by said corporation, provided that |
no stock shall be issued unless the |
consideration therefor has been re-
ceived by said corporation. All trans
fers of stock shall be made on the |
books of said company at it's Office
at Covington, Louisiana, on the sur
render of the certificates 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 d.
rectors ten days written notice of |
his intention or desire to dispose of
his stock or a part thereof, and al
lowing the board of directors the
first opportunity of purchasing the |
stock.
Said corporation shall become a
going concern and be authorized to
do business as soon as 100000 of
the capital stock shall have been
subscribed for.
The corporate powers of this cor
poration shall be vested in and ex-
ercised by board of three direc-
tors, consisting of president, vice
president, secretaryItreasurer, Two
of whom shall constitute a quorum
for the transaction of business. Said
directors shall be elected annually
from among the stockholders on the
third Monday of the month of Feb
ruary in each year, commencing on
the 18th day in the month of 1912.
Notice of such election shall be
given by at least five days written |
notice addressed to the stockholders |
at his last known place of residence.
At said election and all other meet
ings 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 writ
ten proxy.
Within one week of their election, |
above provided for, the board shall
elect from among their number a |
president, vice president, and a |
secretary-treasurer, and all of said
officers and directors shall hold their |
respective Offices for a period of one
year from the date of their cleo
ton, or until their successors are
elected. But the failure to hold an
annual election, or to elect the Of
ficers as above provided for, shall
not result in a dissolution of this
corporation, but the then board of
directors and officers shall hold their
offices until their successors are duly
elected.
Any vancancies in said board of
directors shall be filled by the re-
naming members of the board for
the unexpired term, at a meeting
called for that purpose after three
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 bylaws, rules
and regulations for the proper man
agement and conduct of the affairs
of this corporation, and to change,
alter, abolish or amend same at
pleasure, and shall have and exer-
else all the powers conferred by law
on this corporation as set forth gen.
orally above. The said board Of di-
rectors may also delegate any of said
powers in the transaction Of. the
business of this corporation to- COM
mittees of their own body or to the
officers and agents of this corpora
ton.
The first board of directors of this
corporation are hereby declared to
be: Harvey E. Ellis, as president,
w. A. White as vice president, W. A.
Hood, as secretary-treasurer, who
hold their respective offices until the
third Monday of February, 1912, or
until their successors are duly elect
ed.
It 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 a meeting of the
board of directors or the stockhold-
ers thereof, on the written request
to that effect, signed by two direc-
tors, or upon the written request to
that effect of fifteen per cent of the
3d.