St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1911-04-15

directors may be increased at tt,
!. option of the said board of directo.
but in cases of a majority of t.!
number of the said board of dirct
tors shall constitute a quorum ther.
of. Said board of directors shall L
elected at an election on the Is
Monday in April, of each year, an
shall Immediately after the electicI
elect from among their number
president, a vice president and
treasurer, each of whom shall b
a stakeholder. They shall also cleo
a secretary, who may or may no
be stakeholder. Each stockholde
shall be entitled in person or by prox
to one vote for every share of stoc1
owned by him or her. All election
shall be by ballot and held at the
office of the said corporation under
the superintendent of two commits
sioners to be appointed for that pur.
pose by the board TO directors. A
majority of the votes cast shall elect
said board of directors who with
the officers thereof shall continue in
office for one year and until their
successors shall have been elected
and qualified. Notice of an election
of board of directors shall be given
by publication in some newspaper
at the domicile of the said corpora
ton for period of at least ten days
previous to said election, and by
written notice mailed to the last
known address of each stockholder
at least ten days previous to date of
said election. The first election of
the board of directors under the
charter shall take place on the LIST
Monday of April, 1912, until which
time, or until their successors have
been elected and qualified, the fol-
lowing persons shall constitute the
first board of directors, namely, Dr.
A. H. Grimmer, president; H. r..
Lacroix, e. G. Del Corral, Thomas
Lacroix, A. R. Smith, Lawrence Cole
and S. D. Bulloch, of which A. H.
| Grimmer is president; Lawrence
| Cole, vice president; E. G. Del Cor
raj, secretary, and A. R. Smith,
treasurer The failure from any
| cause to elect directors on the day
| stipulated shall not dissolve this cor
poration, but the officers and direc-
tors then in Office shall hold over
| until their successors shall have been
elected and qualified. In the event
of failure to hold the election on
the day stipulated shall not dissolve
this corporation, but another cleo
ton shall be called Immediately
thereafter as hereinabove stipulated.
Any directors shall have the right
to vote on all questions before the
board, either in person or by proxy,
and when by proxy, the person hold
ing same to be counted in place of
absent directors. The board of di-
rectors shall have the power to fill
any and all vacancies occurring in its
membership from among the stock
holders of the corporation. They
shall have full control of the prop.
erty and arrangements of this cor
poration and shall conduct and man
age it's business. They shall appoint
such officers, agents, managers, en-
ployees, servants and clerks as may
be necessary for conducting the bust
ness affairs of the corporation; shall
fix their compensation and shall have
the right to dismiss them at pleas
ure, and may make and establish,
as we'll as alter and amend, any and
oil Uy-ldWS, lulCS dAu ICE uAnIlOIS 1oi
the conduct, support and manage
ment of the bushes and affairs of
the corporation. Said board of d.
rectors shall have full power to con-
tract debts, borrow money, issue
notes, bills of exchange, bonds and
other obligations; execute and grant
mortgages, and to receive same, and
to generally do all things necessary
for the conduct of the business. And
shall have full power to issue and
deliver full paid shares of stock for
cash or property received, services
performed or labor done. All certi-
ticates of stock of this corporation,
after being duly ordered issued by
the board of directors, shall bear
the seal of the corporation and be
signed by the president and the Sec
rotary. In the absence of the presi-
dent, then signed by the vice presi-
dent.
ARTICLE vi.
This charter or act of incorpora-
tion may be changed, modified or
amended, of this corporation may be
dissolved, at general meeting OF
stockholders held for that purpose,
with the consent of three-fourths of
the capital stock present or repre-
sented at such general meeting as
hereinabove provided in article five.
In case of the dissolution of this
corporation, either by limitation of
it's charter or for any cause, its af-
fairs shall be liquidated by three
commissioners selected by the stock
holders at a general meeting as
above set forth. The commissioners
shall remain in Office until the af-
fairs of the corporation shall have
been fully liquidated. In case of
the death of incapacity to act of any
one or more of the liquidators, the
survivors or survivor shall continue
to act. Said liquidators are hereby
invested with full power to sell any
and all assets and property, both
real and personal, of the corpora
ton, and give and grant full and
complete title thereto, and shall have
full power and authority to do and
perform all acts necessary, useful
and proper to fully wind up and
liquidate it's affairss.afld distribute
it's proceeds, II any, among the stock
holders.
NDsTICT VII