St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1911-04-01
ARTICLE II.

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ARTICLE II.
| The objects and purposes fol
Which this corporation is formed and
the nature of the business to be
| carried en- by it, are hereby declared
to be: The operation of hotel in
all of its branches; the leasing OF
letting of same in whole or in part
for hotel, 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
ed, as shall 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
($50,000.00) dollars, divided into
and represented by five hundred
5000 shares of the par value of
one hundred ($10G00) 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 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 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 a board of three direc
tors, consisting of president, vice
president, secretary-treasurer two
of whom shall constitute quorum
e. of II,rf ny
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 10Th day in the month of 1872,
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
Zen proxy.
Within one week Of their election,
above provided for, the board shall
elect from among their. number a
II ColdCAI, VINO VI Co1oSh1, 1Au -
5ecretary-treasurer and all OF said
Ulcers and directors shall hold their
.espective offices for period of one
;ear from the date of their cleo
lion, 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
aot 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 fol
he unexpired term, at meeting
called for that purpose after three
lays prior notice in writing sent by
nail 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 affair:
| IF this corporation, and to change
| alter, abolish or amend same a
| pleasure, and shall have and exer
Use all the powers conferred by Law
IN this corporation as set forth gen
| orally above. The said board OF dl
| ectors may also delegate any of sal
powers in the transaction OF tn
business of this corporation to com
nittees of their own body or to tn
-,fficers and agents of this corpora
ton.
| The first board Of directors of thi
corporation are hereby declared t
De: Harvey E. Ellis, as presiden
w. A. White as vice president, w. a
i Hood, as secretary-treasurer VIII
| hold their respective offices until tn
| third Monday of February, 1912, G
until their successors are duly cleo
il ed.
It shall be the duty of the pres
lent of this corporation, or in tn
event of his inability to act, the vie
l,Dresident, to call meeting OF tf
BOARD of directors or the stockholt
srs thereof, on the written reque
1 to that effect, signed by two dire
tors, or upon the written request
| that effect of fifteen per cent of tt
| capital stock issued.
ARTICLE v,
II This corporation may be dissolve
n " vote of three-fourths of Il
4 apital stock Thereof issued, at a ge
{ .ra1 meeting convened for that pu
aose after ten (10) days writt'
4 notice Of the objects of said meetin
| sent to each stockholder, prior
said meeting, at his last known pia
tof residence.
Whenever this corporation is q
l. l ,oJrod uhathar nv limitation