St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1911-02-25
,ne hundred (s1oo.oo) dollars each,

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 its 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 part thereof, and al
lowing the board of directors the
first opportunity of purchasing the
stock.
Said corporation shall become
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 a board of three direc-
tors, consisting of a president, vice
presidenb, secretary 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
| ,ngs 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
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
icers 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
he unexpired term, at meeting
called for that purpose after three
lays prior notice in writing sent by
mail to said directors at their last
hnown address.
The said board of directors shall
nave power to make bylaws, rules
and regulations for the proper man
| agement and conduct of the affairs
IF 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
erally above. The said board of di-
rectors may also delegate any of said
IpoWers 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
led.
1t shall be the duty of the presi-
lent 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
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, its affairs shall be liqui-
dated by two liquidating commits
sioners, to be elected at such general
meeting, and in the case of death or
inability to act of any of said COM
missioners, the surviving commits
sioner shall appoint a successor and
together they shall continue such
liquidation to it's termination.
ARTICLE VI.
This charter may be changed, al
tered or amended, and the capital
stock increased by a vote of two
thirds of the capital stock issued, at
la general meeting called for that
purpose after thirty days prior no
tice in writing having been sent to
each stakeholder at his last known
place of residence, sating the object
of said meeting and forty days prior
advertisement in newspaper pub
lished in St. Tammany Parish, La.
ARTICLE VII.
No stakeholder shall he held re-
sponsible or liable for the contracts
of faults of this corporation in any
further sum than the unpaid bal
ance due the corporation on shares
of stock owned by him, nor shall any
mere informality in the organization
| hereof have the effect of rendering
this charter null, or of exposing a
stakeholder to any liability beyond
such unpaid balance due on his
| stock
Thus done and passed in my Office
in the town of Covington, Parish of
| ST Tammanv State Louisiana