St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1911-01-28

and other legal process shall be
served npon the president. or, in his
absence or inability to act, upon any
officer of the corporation.
ARTICLE III.
The objects and purposes for
which this corporation is organized
are hereby declared to be to engage
in producing and manufacturing of
turpentine, rOsin, rOsin oil, pine tar
and all other naval stores products;
to buy and sell turpentine, rosin,
rosin oil, pine tar and all other naval
stores products; to buy and sell real
estate, turpentine privileges, leases,
timber for saw mill purposes and all
other commodities connected with
naval stores; to acquire, by lease or
otherwise, timber and to own, lease
and operate turpentine farms and
stills; to buy and sell merchandise
of all classes; to borrow and loan
money and secure same by mortgage,
pledge or other form of security and
when in necessary needs it's business,
may acquire, by purchase, lease or
otherwise, and may operate tram
ways. railroads, tank-cars, termi-
mails, landings, steamboats, and other
water craft, but not as a common
carrier, and to operate saw mills.
ARTICLE ".
The capital of this corporation
shall be fifty thousand ($50,O0O.oO)
dollars, divided into five hundred
(500) shares, of the par value of
one hundred ($1OO0O) dollars each,
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 SHALL commence business
and become a going concern as soon
as six Thousand dollars of it's capital
stock shall have been subscribed and
paid for; the residue of said stock
to be issued and payment made there
for; said stock shall be fully paid at
the time of it's 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, so that this act of in
corporation shall serve as an original
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 fde stockholders, and
The first board shall consist Of: Jas.
). Jones, Thomas c.. Adams and E.
Jones, with Jas. S. Jones, president;
Thomas G. Adams, vice president and |
secretary, and e. Jones, treasurer.
On the Saturday next preceding the |
second Monday of December, 1911,
Ind annually thereafter, except when
such day shall fall on legal holiday,
hen upon the next following lay-day, |
he stockholders shall elect board |
BOARD already installed to continue
o hold oevr until their successors
ire elected and qualified. The board
# directors so elected shall elect
rom their own number the officers
# the corporation which shall be
vice president and secre-
airy and a treasurer. The election
# directors shall be by ballot, and
he persons receiving the largetst
lumber Of votes cast shall be de-
Jared elected. For electing directors,
II for any other purpose, each share
f stock, whether present Of by proxy,
hall be entitled to one vote, and a
1ajority of the votes cast shall be
equired to pass any resolution or
ecide any question submitted to the
tockholders, except for the altera-
ion or amendment of this charter,
T the dissolution of the corporation,
S hereinafter provided. r.
The said board of directors shall
ave power and authority to make
II necessary rules and regulations
Or the management, operation and
ontrol Of the business of the cor
Grafton, as we'll as to make all
ecessary rules and bylaws, with
over to fill any vacancy occurring
/ their number. A majority Of the
irectors voting at any one time, in .
person or by proxy, shall be required
to pass any resolution or adopt any