St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1914-08-01
person or by proxy, and a majority Of
the votes cast shall elect.

person or by proxy, and a majority Of
the votes cast shall elect.
Any vacancy occurring among the
directors by death, resignation or
otherwise shall be filed by election
for the remainder Of the term of the
Board by the remaining directors;
but the affirmative vote of at least
four ~ directors shall be necessary
to fill any such vacancy. A failure
to elect directors on the date above
specified shall not dissolve the cor
poratiOn, but the directors then in
Office shall remain in Office until their
successors are elected and qualified,
and shall cause another election to
be held as soon as possible there
after. after notice thereof shall have
been given in the manner as above
provided. Four directors shall con-
stitute quorum for the transaction
of any business.
The Board of Directors hereafter
shall elect from their own number
president, vice president, Sec
rotary and treasurer, and the said
Board shall have the power to COM
bine or separate the offices of secre-
tary and treasurer. 1t may appoint
from time to time such other officers
clerks, agents, or other employees as
it may deem necessary for the pur-
poses and business of the said cor
poration, who shall hold Office at the
pleasure of the Board. No one shall
be employed for longer,period than
one month, except the Board of d.
rectors authorize the same by reso-
luton.
The said Board of Directors may
make and establish as we'll as alter
and amend, any and all bylaws,
rules and regulations necessary and
proper for the support and manage
ment of the business affairs of the
corporation. Said board shall have
full power and authority to borrow
money, issue notes, or other oblt-
cations, in the ordinary course Of
business. and secure the same by
mortgage of its real estate, or pledge
and pawn of its movable property.
and generally to do all things reason
able or necessary for the proper
carrying on of the business of the
corporation; and also to issue and
deliver full paid shares of stock for
cash; or in payment of labor done,
or property actually received or pur-
chased by the said corporal on, but
said board shall have no authority to
execute any mortgages upon the
property of the company without the
consent of a majority of the stock
holders of said company, given at a
meeting expressly called and held for
oh l{~on oh
have authority to appoint in writing
a proxy to represent him at all meet
ings of the Board.
ARTICLE vi.
Whenever this corporation may be
dissolved either by limitation or from
any other cause, its affairs shall be
liquidated by three commissioners to
be appointed from amongst the
stockholders at general meeting Of
the stockholders convened for such
purpose, of which meeting notice
shall be given in the manner and
time provided for stool holders
meetings by Article VII of this chart
er, and a majority in amount of the
capital stock of said company repre-
scented at such meeting shall be
requisite to elect. Said commission
ers shall remain IN Office until the
affairs of said corporation shall have
been fully liquidated. In case Of
death or resignation of one or more
of said commissioners, the vacancy
shall be filled by election by the
surviving commissioners.
ARTICLE VII.
This act of Incorporation may be
modified, changed or altered or said
corporation may be dissolved, with
the assent Of .three-fourths of the
capital stock represented at gener-
al meeting of the stockholders con-
vened for such purpose, and after
notice shall have been given in q
newspaper published in the parish
Of st. Tammany. La, once week
for four weeks preceding the meet
ing, and by a written notice to each
stakeholder, mailed to him thirty
days prior to the date of meeting,
at the postoffice address designated
by him in writing.
Any change proposed or made In
reference to the capital stock shall
be made in accordance with the laws
of the State of Louisiana on the sub
ject of altering the capital stock OF
corporations. ;.
ARTICLE VIII.
No stakeholder shall ever be held
liable for the contracts or faults OF
said corporation in any further sum
than the unpaid balance due the cor
poration on the shares of stock own
ed by him, nor shall any mere In
formality in organization have the
effect of rendering this charter null
or of exposing stakeholder to any
liability beyond the unpaid amount
remaining due on his stock.
ARTICLE TX.
F. w. Salmen, L. T. Miles, F. SAL
men, J. A. Salmen, E. F. HALEY. w.
E. Eddins, and A. d. Canulette have
been chosen and selected as the first
Board of Directors OF said corpora
ton, with F. w. Salmen as presl-
dent; L. T. Miles, vice president; r.
F. HALEY. secretary; w. E. Eddins.
treasurer, to serve as such until their
successors shall have been elected
and qualified.
The subscribers hereto have re-
spectively written :, opposite their
names the amount of stock in this
corporation subscribed by each OF
them necessary to make 1t going
concern, so that this act OF incorpora-
ton may also serve as the original
subscription list of said corporation.
Thus done and passed at my office