St. Tammany farmer., 1911-11-25

shall be paid for by the subscribers
thereto as shall be required by the
Board Of Directors, and the stock
may be issued in payment Of prop-
erty acquired by the corporation or
in compensation for services render-
ed, but in no case shall any of the
stock be sold or disposed of for less
than par value. This corporation
shall be authorized to begin its busi-
ness as soon as Five Thousand Doll
lars of the capital stock shall have
been subscribed for.
ARTICLE v.
All the powers of this corporation
shall be vested in a Board Of Direc-
tors composed of not less than
three stockholders. They shall be
ele cted on the first Monday of Oc-
tober in each year, commencing
with the year 1912, at a general
meeting convened for that purpose,
after ten days previous notice in
writing to each stockholder owning
stock standing in his name on the
books OF the corporation, and until
such time the following stockhoId-
ers are hereby named as the first
Board OF Directors, and who shall
hold their office and exercise their
functions until their successors are
elected, viz: James s. Jones, John
+. Rausch and r. C. Adams, of
whom James s. Jones shall be pres-
ident, John P. Rausch yice-Presi-
dent and Treasurer, and T. c.
Adams Secretary.
One director may fill any two OF
such offices except the offices OF
President and vice-President.
The election Of the Board OF M.
rectors shall be by ballot, and each
stockholder shall be entitled TO ont,
vote, either in person or by proxy,
Tor each share of stock owned BY
him, and a majority OF the votes
cast shall elect. The Board of Df.
rettors shall Immediately after their
election, elect from their number
President. Vice-President, a Secre-
tary and a Treasurer.
! The said Board of Directors shau
elect and employ any and ali EN-.
ployees, managers and clerks OF the
corporation they may deem neces-
s;ry for the proper conduct Of its
business, and may fix their compen-
sation, and remove or dismiss them
at pleasure.
ARTICLE vi.
This charter may be amended or
altered by the stockholders, at gen
eral meeting convened for that .,nr-
pose, after ten days written nctfcs
to each stakeholder; or this cornora-
tion may be dissolved with the as
sent OF two-thirds of the capital
stock represented at such a meeting.
In case of dissolution, the affairs oil
the corporation shall be closed and
liquidated, as rapidly as possible by
two or three liquidators, appointed
or elected by the stockholders I
such meeting. The capital stock -
this corporation may be incre 80 -
or diminished in accordance a,;t,.
the laws of the State of u Lo,,;s,.na
on the subject of altering the arr.i. nani-
tai stock of corporations
ARTICLE VII
The subscribers he.cetn have -
spectfvely stated op.oosita their do
natures the number of shares of the
capital stock Subscribed to hv them,
respectively, Constituting these pres-
ents the subscription list made by
the lncorDorators for the purpose of
organizing this corporation.
ARTICLE VIII.
No stockholder shall be liable or
responsible for the contracts or
faults of this corporation in anv FUR
Irer sum than the unpaid balance
uue TO the corporation, on the
shares owned by MIN or shall aEy
Mere lnformality in organization
nave erect OF rendering this charter.
nun and exposing stockholder tn
ilaI lilty beyond the amount Of the
unpaid stock, If any.
Inus done and passed, in nay Of
!te, at Covington, ST. Tammany par.
lsn' Louisiana, on the day and year
INST above written, in the presence.
OF A. Sidney Burns and Nina Can
tftlle, competent witnesses, residing
IN said parish, who have signe
their names, together with said an
pearers, and me, Notary, after dc
reading of the whole.
John P. Rausch subscribes to
sixty shares.
I. c. Adams subscribes to sixty
shares.
Jas. S. Jones subscrihos tc sixty
shares.
BENZ. M. MILLER.
u.. Notary Public>.
A. Sidney Burns.
Nina Cantrelle.
| certify that the abov,4 arfr f7,re-
going is true copy cf tha o.iaina1
charter OF the Louisiana Land &
Timber Company.
BEses1. NJ. MILLER,