St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1913-07-05

prove, ALLEVIATE, convey, sell, borrow
pledge, mortgage and hypothecate,
under its said corporate name, prop
erty, real, personal and mixed; to
name and appoint such officers, di-
rectors, agents and managers, OF en-
ployees, as the interest Or convent
ence of said corporation may require;
to make and esta blish bylaws, rules
and regulations for the proper man
agement and regulation Of its at
fairs, as may be deemed necessary
and proper, and the same to change
and alter at pleasure; and TO do all
other acts and things permitted by
law, or as shall or may be necessary
and proper to carry out the objects
and purposes of said corporation
Said corporation, unless sooner
dissolved in accordance with its
charter, shall exist and continue for
the period of ninety-nine (99) years
from and after the date hereof.
| The president. OF in his absence.
the vice-president, shall be the prop
er 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, 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 corpor-
atoms organized hereunder from
conducting insurance or banking
business, or any business which shall
entit1s the corporation to exercise
the power Of eminent domain; and |
generally to do all things necessary
for the successful operation of the |
businesses undertaken ny this cor |
polation.
ARTICLE III.
The capital stock of the said cor
poration shall be Twenty Thousand
'($2O,OOO) Dollars, divided into and
represented by Two Hundred (2O0)
shares of the sum of One Hundred
(f1005 Dollars each, which said
stock may be issued, at not less than
par. in payment OF 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. Is
Any stocKAolder may sell, assign
Or transfer his stock in this corpora
ton. provided thirty (3e} 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 .
,e transferred under the above con- r
litions, provided suck transfer there
# be made on the books OF said :,
company. at its Office, and on sur :,
ender of the certificate therefor =
70 transfer of any fractional part of =
. share shall be made i
This corporation shall commence =
[oing business as soon as Thirty-TWe g
$3,2OO.OO) Dollars of the =
apital stock shall have been sub =
cribed, for. =
ARTICLE ". +,
The corporate powers of this com W
any shall be vested in and exercised W
y board of three 90 directors: a
of the president (who shall p
lso be the treasurer Of said corpora Il
[on), vice president. and one sotck-
older. Three of said board shall
onstitute q quorum for the transac- p
ion of business, and their decisions C
hall be valid corporate acts. n
The following named persons shall 81
onstitute the first Board of Direct n
RS: George Dendinger, Theodore il
'endinger. ST., and Paul A. Bianch- tt
I'd, d
No person shall be eligible as di- p
eetor or an officer who is not a al
Of this company. p
During the absence of the presi- b.
emit the vice president shall act and e.
reside. CT
Said board shall continue in office al
ntil the second Monday of June, ri
915, on which date and thereafter, W
a board of directors shall m
e elected on the second Monday OF al
une of each year. a.
Notice of election and of stock
olders meeting shall be given by a.
asst ten (10) days notice immediate 81
preceding election or meeting, adj is
ressed by mail to each stockholde1 lie
J his last known address. Any fail. tt
re from any cause whatever to elect in
[rectors the day named for that pur- fl.
ose shall not dissolve the corpora
on. but the directors then in office
, we'll as the officers of said COM til
any, shall hold over until their sue h
sssors are chosen. fc
In such event the president shall W
luse another election to be held st
thin thirty 900 days, and shall in
We notice thereof as hereinbefort al
rovided. al
At every election and meeting each fo
ockholder shall be entitled to vote o,
n each share of stock registered in st
is name, and may vote by proxy. hi
The election of directors shall be bl
Y ballot, and the majority in amount ia
votes cast, each share of stock OF
oted upon to be counted for one tr
)te. shall elect the person or per be
ms for whom they have been cast. W
After each election the board Of to
rectors shall elect from their own Oy
amber the officers of said company XII
ARTICLE V. ar
The board of directors shall have by
IT pouor IN fiji uooannioc in THAR ty