St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1913-07-12


1 the following, towit: The purchase
and sale of lands, timber. and the
engagement in any enterprises in any
way connected with or relating tC
the land and timber business, includ.
ing the milling and transportation
of timber, operation of commissary
stores. and generally to engage In
any and all business permitted under
Act IS of 1904, which may promote
the successful operation Of this cor
poration subject to the prohibition
contained in said act against c0rpOr-
ations organized Hereunder from
conducting insurance or banking
business, or any business which shall
entitle the corporation to exercise
the power of eminent domain; and
generally to do all things necessary
for the successful operation of the
businesses undertaken by this cor
poratfon.
/ ARTICLE III.
! The capital stock OF the said cor
pOration shall be Twenty Thousand
| ($2O,OOO) Dollars, divided into and
represented by Two Hundred (2OO)
shares of the sum of One Hundred
| $1,000 Dollars each, which said
stock may be issued, at not less than
par, in payment or exchange for
property or rights actually received
or purchased by said corporation, or
the same may be issued, full paid
for money advanced, Or for such
other valuable considerations or ser.
vices, or upon such terms as the
Board of Directors of said corpora
ton may determine; provided that
no stock shall be issued until the
consideration therefor has been re-
ceived by said corporation.
Any stakeholder may sell, assign
or transfer his stock In this corpora.
ton. provided thirty 600 days prior
notice of such intention to sell, as
sign or transfer the same. be given
the company, and the other stock
holders thereof shall have the first
privilege or purchasing same, after
which thirty days notice the. said
stock may be sold in open market.
The stock of said corporation may
be transferred under the above con-
ditions, provided such transfer there
of be made on the books of said
company. at its Office, and on sur.
render of the certificate therefor
No transfer of any fractional part of
a share shall be made
This corporation shall commence
doing business as soon as Thirty-Twt
Hundred $3,2O0.OO) Dollars of the
capital stock shall have been sub
scribed for.
ARTICLE Nv.
The corporate powers of this COM
pany shall be vested in and exercised
by board Of three (3)4 directors,
consisting of the president (wh0 shall
also be the treasurer Of said corpora
tion), vice president, and one sotck-
holder. Three of said board shall
constitute a quorum for the transac-
ton of business, and their decisions
shall be valid corporate acts.
The following named persons shall
constitute the first Board of Direct
ors: George Dendinger, Theodore
Sr., and Paul A. Blanch-
ard.
No person shall be eligible as d.
rector or an officer who is not .
of this company.
During the absence of the presi- I
dent the vice president shall act and
preside.
Said board shall continue in office
until the second Monday of June,
1915, on which date and thereafter.
annually, q board of directors shall
be elected on the second Monday Of
June of each year.
Notice Of election and Of stock
holders meeting shall be given by q
least ten (1O) days notice immediate
ly preceding election or meeting, ad-
dressed by mail to each stockhOlde'
at his last known address. Any fail
ure from any cause whatever to elect
directors the day named for that pur-
pose shall not dissolve the corpora
ton. but the directors then in office
as we'll as the officers Of said COM
pany, shall hold over until their sue
cessors are chosen.
In such event the president shall
cause another election to be held
within thirty (3O) days. and shall
give notice thereof as hereinbefort
provided.
At every election and meeting each
shall be entitled to vote
for each share of stock registered in
his name, and may vote by proxy.
The election of directors shall be |
by ballot, and the majority In amount 1
Of votes cast, each share Of stock
voted upon to be counted for one
vote, shall elect the person or per-
sons for whom they have been cast.
After each election the board off,
directors shall elect from their own
number the officers of said company n
ARTICLE v.
The board Of directors shall have II
full power to I'LL vacancies in their {
caused by death, resignation
or otherwise, from among the stock
holders of the corporation IL
The said board shall have full Ii
control Of the property of this COM |,
pany, and shall conduct, manage and
use the same as In their discretion
they deem fit. and consistent with
the objects Of this company. or the
welfare Of the same.
The said board 10 further author X
ICED to frame and adopt such bylaws, II
rules and regulations as the affairs
and business Of the corporation may
and as 1t may deem neces-
sary~ for the conduct and manage
ment thereof: provided the same |
shalt not conflict with this charter, or
with the laws OF the State, or Of
the United States. II
The said board shall elect or an !
point secretary and such other Of
md clerks - 1t may deem necessary j
'or the conducting 81 the business !
II the corporation: nx their compen- /
q dismiss them at said boards pleas-l