St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1913-07-19


II ARTICLE II
The objects ana purposes for which
this corporation 10 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 eommfssary
stores, and generally to engage in
any and all business permitted under
Act 10 OF 1904, which may promote
the successful operation Of this cor
poration subject to the prohibition
contained in said act against corpor-
etions organized Hereunder from
conducting Insurance pF banking
business, or any business which shall
entitle the corporation to exercise
the power OF eminent domain; and
generally to do 2ll things necessary
for the successful operation of the
businesses updertaken BY this cor
poratio4:
ARTICLE III.
The capital stock of the said cor
poretioH shall b Twenty Thousand
($20,000) Dollars. divided into and
represented by Two Hundred (2O0)
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 DO 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 stack shan he issued until the
consideration therefor has been re-
ceiyed by said corporation.
Any stakeholder may sell, assign
or transfer his stock iR this corpora !
ton, 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
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 Guy fractional part of
q share shall. be made
This corporation shall commence
doing business as soon as Thfrty-Twt
Hundred $3,2OO.O0) Dollars of the
capital stock shall have been sub
scribed for.
ARTICLE ".
The corporate powers of this COM
.pany shall be vested in and exercised
by board of three (3) directors,
consisting of the president (who shall Il
also be tie treasurer Of said corpora
tiopl, vice PRECEDENT. and one sotck-
holder. Three of said hoard shall
constitute 2 quorum for the transac-
tio4 of business, and their decisions I
shall be valid corporate acts. IA
The following named persons shall {
constitute the first hoard Of Direct l
ors: George bendiager. Theodore
hendiAger, Dr., and Paul A. Blancn-
ard. 4
No person shall be eligible as d. b
rector or IN ofieer who 10 not q
etpckholder of this company. b
During the absence Of the presi-
dent the vice president shall act and q
preside. c
Said board shall continue in ONCE I
until the second Monday of June, +
1915, on which date and thereafter '
board Of directors shall \
be elected on the second Monday Of Z
June of each year. q
~ - Nh AAn
holders meeting shall be given by q
least ten (10) days notice immediate 8
" preceding election Or meeting, I'D. Il
1t his last known address. Any fail t
directors the day named for that pur- 4
lion. but the directors then In Office
Is well as the officers of said COM Il
oany, shall hold oyer until their sue b
.ejaors are chosen. Il
In such event the president shall Y
within thirty 900 days, and shall IL
provided. o
At every election and meeting each t,
shall be entitled to vote o
lis name, and may vote by proxy. h
~ ballot, and the majority ip amount +,
IT votes cast, each share Of stock u
,0ted upon TO be counted for one tt
1ote. shall elect the person or per- b,
IONS for whom they have been cast. W
After each election the board Of Ct
directors shall elect from their own Q,
nm hor tho of53coro ~ ooid NJ nnnonv Ia
ARTICLE v. lal
The board of directors shall have b,
ull power to fill vacancies in their ty
lumber caused by death, resignation n,
II otherwise, from among the stock. Ire
folders Of the corporation b,
The said board shall have full bl
ontrol OF the property of this COM |Ut
ANY. and shall conduct, manage and pl
lse the same as in their discretion d
hey deem fit, and consistent with pl
he objects of this company. or the b,
Welfare of the same. te
The said board Is further author. Ice
zed to frame and adopt such bylaws. In
ules and regulations ~ the aftairs
nd business of the corporation may
equfre, and as it may deem neces- tt
airy for the condEct and manage th
aent thereof; provided the same In
hall not conflict with this charter. or {:
nth the laws Of the State, or Of d.
he United States. b
The said board shall elect or ap. m
oint secretary and such other Of re
GERS. agents, employees, servants fpe
nd clerks rs 1t may deem necessary m
Or the conducting Of the business CT
I the corporation; FIX their compen- d.