St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1914-10-10

period of ninenty-nine years from
this day; it shall have power to con
tract, sue and be sued, In its cor
porate name; to make and use cor
porate seal, and the same to alter at
pleasure; to hold, receive, purchase.
convey. mortgage, hypothecate OF
| pledge, property, both real and per
sonal; to issue bonds, notes and other
obligations; to have and employ such
managers, directors. officers, agents
and other employees as the interests
and convenience of said corporation
| may require; and to make and es-
tablish such bylaws, rules and regu-
lations for the proper management
and conrol of the affairs Of the cor
poration as may be reasonable and
expedient.
ARTICLE II.
The domicile of said corporation
shall be in the town OF Covington,
parish of st. Tammany. State OF Lou
| isiana; all citations and other legal
process shall be served on the presl-
dent and in his absence on the secre-
tary-treasurer.
ARTICLE Ill.
. The objects and purposes Tor Wnlcn
this corporation is established ana the
nature of the business to be carried
on by it are declared to be: To con-
struct. operate and maintain saw
mills, single mills, wood mills, plan
ing mills, logging railroads, roads
and bridges; to purchase, mortgage
lease and sell lands and timber; to
make, buy and sell piling, poles, cross
ties and other kinds Of timber; to
construct and operate turpentine
stills and retort plants; to manufac-
ture brick, tiles, ETC.; to operate
stores and commissaries, and gener-
ally to do and perform any and all
acts and things pertaining to the
business above enumerated, connect
ed Herewith or arising therefrom, In
this State. and elsewhere.
ARTICLE ~.
The capital stock of this corpora
ton is hereby fixed at the sum OF
ten thousand ($10,000) dollars, d.
vided into and represented by one
hundred (1O0) shares Of stock OF the
par value OF one hundred ($1OO) dol
lars each, which shall be paid for in
property; all Of said stock shall be
common stock.
That this corporation shall be
going concern when ten thousand
1S1O.OOO) dollars Of its capital stock
is actually paid for. All shares OF
stock shall be full paid and non-as-
sessable, which capital stock may be
increased to sum not to exceed MI
teen thousand ($15,0O0) dollars, In
which event the person holding stock
at the time shall have the right to
take shares of the additional or In
creased stock, proportionate to the
number of shares owned by him, ana
any shares not taken at the expfra-
ton Of said period may be disposed
of by said Board Of Directors, for the
benefit of the corporation at not less
than their par value. No transfer OF
stock shall be binding upon the cor
poration unless recorded upon the
books.
ARTICLE v.
All the corporate powers OF this
corporation and the management and
control Of its affairs shall be vested
in and exercised by Board OF DE-
rectors composed OF three (3) stock
holders, majority of whom shall
constitute quorum for the trans
action of all of the business. The
directors shall be elected annually,
by ballot, by the stockholders, on the
second Tuesday in January Of each
year. Each person shall be entitled
in person or by proxy to q vote for
every share owned by him, and all
shall be held under such
rules and regulations as may be de-
termined by the Board OF Directors,
the Directors thus elected shall con-
tinue in office for one year, or until
their successors have been duly elect
ed and qualified. No failure to elect
shall be regarded as forfeiture OF
this charter. Any vacancy occurring
on said Board shall be filed by the
directors for the unexpsr-
ed term.
The Board of Directors, shall, at
Is first meeting after its election,
nominate out Of its number presi-
dent, a vice president and a secre-
said Board shall have
the right to divide the Office OF secre-
tary and treasurer and may elect
who need not be q. stock
holder. but whose tenure of office
shall be during the pleasure OF the
Board. And said Board shall have
he right to appoint and dismiss the
Jerks. managers, secretary and other
employees of the corporation, as the
interests and business of the same
nay require. Aay of the Directors
,hall have the right to appoint by
written instrument another Director
Is his proxy, to act in his place at |
my and all of the meetings of the
3oard of Directors.
ARTICLE VI.
Until the election to be held on |
he second Tuesday in January, 1915,
he following named persons shall /
constitute the first Board of Direct
RS, viz: John T.. Coney,. postofiice
Miss, Charles T. Brad
ey, postofflce Covington, La, and
Ienry e. Coney, postof1ce COvington,
a., with said John T. Coney as pres
dent, Charles T. Bradley as vice
and Henry E. Coney as
ARTICLE VII.
No stakeholder shall be liable or
for the contracts, faults
nd debts Of said corporation, nor
hall any mere informality in its
have the effect of rem
ering this charter null or OF ex-
osing stakeholder to any liability