St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1912-08-10

Of said corporation, and all trans
fers of stock shall be made on tn
books of said company. at its office
on the surrender Of tie certificate.
No stakeholder shall have authori
ty or right to sell or otherwise dis
pose of his stock In whole or part
without first giving the Board o
Dir ectors ten (1O) days writtcl
notice Of his intention or desire t
dispose Of any of his stock or a par
thereof, end allowing the Board Q
Dir ctors or in its default, any stock
holder, the first opportunity OF pun
chasing the stock.
This corporation shall commenc
doing business as soon as.Three Hun
dred Thousand and No-One Hun
dredths ($3OO,OOO.OO) Dollars of it
capital stock shall have been sub
scribed for, as above provided.
! ARTICLE Nv.
! The corporate powers of this cor
poration shall be vested in and ex
! ercised by a Board of Directors
! which shall consist of three 81
stockholders; a majority of whom
f, shall constitute quorum for the
transaction of business. Said Direct
tors shall be elected annually from
among the stockholders on the Isl
day of January of each year. com.
mencing on the LIST day of January
1913. ..-.-
Notice Of such election shall be
given by two (2) publications in q
newspaper published in St. Tam
many parish, La, within fifteen (15)
days Immediately preceding said
election.
At said election, and at all other
meetings 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 written proxy.
Within ten days of their election
as above provided for the Board of
Directors shall elect from among
their number a President, a Vice
President, and Secretary and
Treasurer, provided one person may
hold the office of both Secretary and
Treasurer, and all of said officers
and directors shall hold their re-
spective offices for a period of one
% year from the date of their cleo
ton, or until their successors are
elected. But the failure to hold an
annual election, or to elect the Of
fcers as provided for, shall not re-
suit in a dissolution of this corpora
ton but the then Board of Direct.
ors and officers shall hold their Offices
until their successors are duly
elected.
Any vacancies occurring in sale
Board of Directors shall be filled by
the remaining members of the Board
for the unexpired term, at meet
ing called for that purpose, after five
90 days notice in writing, sent by
mail to said directors at their las:
known residence.
The said Board of Directors shall
have the power to make all bylaws
rules and regulations for the proper
and conduct of the at
fairs of this corporation, and tc
change, alter, abolish and amend
same at pleasure, and shall have and
all the powers conferred by
law vi tulS COI pOE0LlOH, dIu dS SSt
forth generally above.
The said Board of Directors ma.
also delegate any of said powers
IN the transaction of the business of
his corporation, to committees of
heir own body or to the officers and
agents of this corporation.
The first Board of Directors of
his corporation are hereby declared
o be William L. Houlton, Fred A.
Lewis and Richard G. Latta, with
l.. Houlton as president
G. Latta as vice president.
md Fred A. Lewis as secretary-treas
lrer, who shall hold their respective
'flces until the first day of January
1913, or until successo..s are duly
elected snd qualified.
ARTICLE Y.
This corporation may be dissolved
~ a vote of three-fourths Of the cap
tai stock thereof present at gen
'ral meeting tOnven:: for that rur-
rose after forty days advertisement
n newspaper published in st. Tam
many parish, La, Immediately pre-.
'eding said meeting and written
notices Of the objects of said meet.
ng sent to each stakeholder thirty
800 days Immediately prior to sale
Meeting, at his last known place O.
esidence.
Whenever this corporation is dis
'olved, whether by liquidation
otherwise, it affairs shall be liqui
lated by two liQuidating commission
rs to be elected at a general meet
ng, and in case of death or disabili.
y of any Of said commissioners, tn
commissioner shall appoint
successor from among the stock.
folders, and together they shall con
inue said liquidation to it's termi
lation.
ARTICLE vi.
This charter may be changed, al
cred or amended, and the capital |
took increased or decreased, by E
1ote of two-thirds of the capital
'tock issued, at = general meeting
:alled for that purpose, after thirt:
800 days prior notice in writing
having been sent to each stockholde1
It his last known residence, STATING
he object Of said meeting, and fort,
400 days advertisement in a news
'aper published in st. Tammany
parish, Louisiana, in which the OBJ
ect OF the meeting is also stated.
ARTICLE VII.
No stakeholder shall be held liable
n responsible for the contracts
aUlts of this corporation in anv fur