St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1912-04-27

by the board of directors, and the
stock may be issued in payment of
property acquired by the corpora
ton or in compensation of services
rendered, but in no case shall any
of the stock be issued for less than
par value. This corporation shall
be authorized to begin its business
las soon as fifteen thousand dollars
of the capital stock shall have been
subscribed.
ARTICLE. v.
All the powers of this corporation
shall be vested in board of direct
ors composed of not less than three
stockholders. They shall be elected
on the first Monday of March in each
year commencing with the year 1913
at a general meeting convened for
that purpose, after ten days previous
notice in writing to each stakeholder
owning stock standing in his name
on the books of the corporation, and
until such time the following stock
holders 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: C. R. Ketcham, ].
A. Brinker and C. w. Goodyear, Jr.,
of whom C. r. Ketcham shall be
president, and J. A.. Brinker secre-
tary and treasurer.
One director may fill any two of
such offices.
The election of the board of di-
rectors shall be by ballot. and each
stakeholder shall be entitled to one
vote, either in person or by proxy,
for each share of stock owned by
him, and a majority of the votes cast
shall elect. The board of directors
shall Immediately after their cleo
ton elect from their number presi-
dent and OBSERVATION-DISCLOSURES. In
case of the death or inability of the
president to act, the secretary-treas
urer shall perform the duties Of
president until president shall be
elected by the board of directors.
The said board of directors shall
elect and employ any and all EN-
ployees, managers and clerks of the
corporation they may deem neces-
sary for the proper conduct of its
business and may fix their cornpensa
ton 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 pur-
pose, after ten days writer notice
to each stakeholder; or this corpora
ton may be dissolved with the assent
of two-thirds of the capital stock
represented at such meeting. The
capital stock of this corporation may
be in creased or diminished in accord
ance with the laws of the State of
Louisiana on the subject of altering
the capital stock of corporations.
In case of dissolution, the affairs of
the corporation shall be closed and
liquidated, as rapidly as possible, by
two or three liquidators, appointed
or elected by the stockholders.
ARTICLE VII.
The subscribers hereto have re-
|spectively stated, opposite their sig
natures, the number of the shares
of the capital stock subscribed by
them respectively, constituting these
presents the subscription list made
by the incorporators, for the pur-
pose of organizing this corporation.
ARTICLE VIII.
No stakeholder shall be liable or
responsible for the contracts or faults
of this corporation in any further
sum than the unpaid balance due to
this corporation on the shares own
led by him, nor shall any mere infor-
mality in organization have the eff
feet of rendering this charter null
or Of exposing a stakeholder to liza
bility beyond the amount unpaid by
him on his stock, If any.
Thus done and passed in my office
at Covington, st. Tammany parish,
louisiana, on the day and year first
above written, in the presence of A.
is. Burns and Ed. Burns, competent
witnesses, residing in said parish,
who have signed their names, to-
gether with appearers and me not
airy, after due reading of tie whole.
James A. Brinker subscribes for
fifty (50) shares.
Charles r. Ketcham subscribes for
fifty (50l shares.
Benz. M. Miller subscribes for fifty
(50) shares.
FRED. J. HEINTZ,
Notary Public.
Witnesses:
A. S. BURNS.
ED. BURNS.
l certify the above and foregoing
to be true and correct copy of the
original charter of the St. Tammany
Lumber Company recorded in st.
Tammany parish, in mortgage book
49," page
FRED. J.. HEINTZ,
Notary Public