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

~SoSA
, ARTICLE II.
The objects and purposes fo
which this corporation is formed an
the nature of the business to b
carried on by it, are hereby declare
TO be: The operation of a hotel il
all of its branches; the leasing O
letting of same in whole or in par
for hotel, or commercial purposes
or otherwise; the manufacture of ice
electricity and the production o
water for the use of said hotel, will
the right to sell said ice, electricity
or water to the general public; t.
purchase for cash or on terms o.
credit, such lands or buildings, OF
to cause such buildings to be erect.
| ca, as snail be necessary to the con.
duct OF the aforesaid business, and
generally to do all things Incidental
| to the proper management or con.
troll of said business.
| ARTICLE III.
The capital stock of this corpora
ton is hereby fixed at fifty thousand
($5O,OO0.00) dollars, divided into
and represented by five hundred
(500) shares of the par value of
one hundred ($100.0O) 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 di
rectors ten days written notice of
his intention or desire to dispose of
his stock or 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 a president, vice
president, secretary-treasurer, 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.
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, a vice president, and a
secretary-treasurer, and all of said
officers and directors shall hold their
respective offices for 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
hy,f fhnr h0or1 re
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.
1t 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 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
capital stock issued.
ARTICLE v.
This corporation may be dissolved
by a vote of three-fourths of the
capital stock Thereof issued, at gen.
eral meeting convened for that pur-
pose after ten (10) days written
notice of the objects of said meeting,
sent to each stakeholder prior to
said meeting, at his last known place
of residence.
Whenever this corporation is dis
solved, whether by limitation or
otherwise, it's affairs shall be iqui-
dated by two liquidating commits
sionars To he elected at such general