St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1914-05-09

business, or any business which shall
entitle the corporation to exercise the
power of eminent domain; and gen.
orally to do all things necessary for
the successful operation of the bust
ness undertaken by this corporation.
ARTICLE III.
The capital stock of the said cor
poration shall be twenty-five thous-
and ($25,O0O) dollars. divided into
and represented by two hundred and
fifty $500 shares of the sum of one
hundred $4,000 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 be issued, full paid for
money advanced, or for such other
valuable considerations or services,
or upon such terms as the board Of
directors of said corporation may de-
termine; provided that no stock shall
be issued until the consideration
therefor has been received by the said
corporation.
Any stakeholder may sell, assign
or transfer his stock in 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 of purchasing same, after
which thirty days notice the said
Istock 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 CON-
pany, at its Office, and on surrender
of the cert ficate therefor. No trans
fer of any fractional part Of share
shall be made.
doing business as soon as seven
thousand ($7,OOO) dollars of the cap
ital stock shall have been subscribed
for.
ARTICLE Nv.
The corporate powers OF this COM
pany shall be vested in and exercised
by board of seven directors, which
shall consist Of the president, vice
president. secretary and treasurer
and three stockholders. Five Of said
board shall constitute q quorum for
the transaction of business, and their
decisions shall be valid corporate
acts.
The following named persons shall
constitute the first board of direct
ors: George Koepp sJr., president:
A. L. Stanga, vice president; Andrew
Peter. treasurer; Paul Policar, Eu-
gene Iugnier, George Peter, ST., Mi
chael Peter. Sr.
No person shall be eligible as di-
rector or an officer who Is not 4
stakeholder Of this company.
During the absence of the press-
dent the vice president shall act and
preside.
Said board shall continue in Of
nee until the second Monday ct April.
1915. ON which date and thereafter
annually. board of directors shall
be elected on the second Monday OF
April each year.
Notice Of election and of stock
holders meeting shall be given by at
least ten (10) days notice Immediate
Y preceding election or meeting, adj
dressed by nail to each stakeholder
at his last known address. Any fall
TIRE from any couse whatever to elect
directors the day named for that pur-
pose shall not dissolve the corpora.
ton, but the directors then In office.
as we'll as the officers Of said COM
pany, shall hold over until their sue
cesse,rs are chosen.
In usch event the president shall
cause another election to be held
within thirty 600 days, and shall
give notice thereof as hereinbefore
prDvid ed.
At every election and meeting each
shall be entitled to vote
for each share of stock registered in
his name and may vote by proxy.
The election of directors shall be
of votes cast, each share of stock
voted, upon to be counted for one
vote shall elect the person or persons
for 'Ehom they have been cast.
A fter each election the board of
dire ctors shall elect from their own
number the officers of said company.
ARTICLE v.
The board of directors shall have
full power to fill vacancies in their
nu mber caused by death, resignation
or otherwise, from among the stock
ht iders of the corporation.
The said board shall have full con-
t r0l of the property of this company,
md shall SO conduct, manage and use
the same as in Their discretion they
deem fit, and consistent with the OBJ
:tects of this company, or the welfare
.of the same.
The said board is further authoriz-
ed to frame and adopt such bylaws
rules and regulations as the affairs
and business of the corporation may
require, and as it may deem neces-
sary for the conduct and management
thereof; provided the same shall not
conflict with this charter or with the
laws of the State, or of the United
States.
The said board shall elect or ap-
point manager and such other Of
ficers, agents, employees, servants
and clerks as it may deem neces-.
;ary for the conducting of the bust
less, Of the corporation; fix their
compensation, term of service, with
the right to dismiss them at said
boards pleasure, and said board shall
have the right to fix and determine
the salaries of the several officers
herein provided for.