St. Tammany farmer., 1913-06-28

prove, ALLEVIATE. convey, sell, borros.H
pledge, mortgage and hypOthecs 6
under its said corporate name. pro
erty, real. personal and mixed: I.
name and appoint such officers,
! rectors, agents and managers. or eni-
/ ployees, as the interest or convent
ence Of said corporation may reqL- -e'
to make and establish bylaws, rili,
and regulations for the proper ian
agement and regulation of its af.
/ fairs, as may be deemed necessa ~
and proper, and the same to changs
| and alter at pleasure; and to do AZ
other acts and things permitted T.
law, or as shall or may be necessary
aud proper to carry out the objects
and purposes OF said corporation.
Said corporation, unless sooner
dissolved in accordance with itE
charter, shall exist and continue for
| the period of ninety-niue (H9) years
from and after the date hereof.
The president. or in his absence.
the vice-president. shall be the prop-
or person upon whom citation or
other legal process shall be served.
ARTICLE II
The objects and purposes for which
this corporation Is organized and
the nature OF the business to be
carried on by it, are declared to be
the following. towit: The purchase
and sale Of lands. timber, and the
engagement in any enterprises in any
way connected with or relating to
the land and timber business. inciud-
ing the milling and transportation
of timber, operation Of commjssary
stores, and generally to engage in
any and all business permitted under
Act 78 OF 1904, which may promote
the successful operation of this corr
puratipn subject to the prohibition
contained in said act against corpor-
ations organized thsreuRder 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 aperatiop of the
businesses undertaken by this cor
pOration.
ARTICLE III.
The capital stock Of the said eor-
poration shall he Twenty Thousand
($2O,O ,O0O) Dollars, divided into and
represented by Two Hundred (20O) |
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 |
nrnperty or rights actually received I
or purchased by said corporation, or |
the same may be issued, full paid |
for money advanced, Or for such |
other valuable considerations or ser I
vices, or upon such terms as the /
Board of Directors Of said corpora
tion may determine: provided that
no stock shall be issued until the
therefor has been re-
ceived by said corporation.
Any stockhplder may sell. assign
or transfer his stock IN this corpora.
tion. provided thirty (30) 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
De transferred under the above con-
litions, provided such transfer there
Of be made ON the books of said
at its ofiice, and on sur
.ender OF the certificate therefor
No transfer of any fractional part OF
! share shall be made
This corporation shall commence
lOin9 business as soon q; Thirty-TW6
Hundred 33,2OO.00) Dollars OF the
.apital stock shall have been sub
,cribed for.
ARTICLE ".
The corporate powers OF this COM
,any shall be Vested in and exercised
" board Of three (3} directors.
of the president (who shall
Llso be the treasurer of said corpora
ion1, vice president, and one sotck-
lolder. Three Of said board shall
onstitute quorum for the transac.
ion of business. and their decisions
hall be valid corporate acts
The following named persons shall
constitute the first Board OF Direct
RS: George Dendinger. Theodore
)endinger Sr., and Paul A. Dianch-
rd.
No person shall be eligible as di- I
'ector or an officer who is not q
of this company.
During the absence Of the presi-
ent the vice president shall act and
preside.
Said board shall continue in Office
ntil the second Monday Of June,
S15, on which date and thereafter
nnnally. a board of directors shall
e elected on the second Monday OF
une OF each year. Il
! Notice OF election and of stock
lolderS meeting shall be given by a.
east ten (10) days notice immediate.
? preceding election or meeting. ad-
ressed by mail to each stockholde'
{ his last known address. Any fail
ire from any cause whatever to elect
irectors the day named for that pur-
ose shall not dissolve the corpora
ion. but the directors then in office
8 well as the officers of said COM
any. shall hold over until their sue
essors are chosen. II
In such event the president shall
ause another election to be held ts
yithin thirty (3O) days, and shall
i've notice thereof as heretnbefors 9
rovided.
At every election and meeting each
shall be entitled to vote {
Or each share of stock registered In 8
is name, and may vote by proxy.
The election of directors shall be Eh
=, u. lln% ard %ho M - iorifv in m 01yuf / 4