St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1914-10-17

.,eriod Of ninenty-nine years from
MS day; it shall have power to con
act, sue and be sued, in its cor
crate name; to make and use a cor
,orate seal, and the same to alter al
,leasure; to hold, receive, purchase
;onvey, mortgage, hypothecate OF
pledge, property. both real and per
,onal; to issue bonds, notes and Other
Obligations; to have and employ such
managers, directors, officers, agents
md other employees as the interests
nd convenience of said corporation
lay require; and to make and es-
ablish such bylaws, rules and regu-
.tions for the proper management
nd conrol of the affairs of the cor
,oration, as may be reasonable and
sxpedient.
ARTICLE II.
The domicile of said corporation
hall be in the town of Covington
arish of st. Tammany, State of Lou
siana; all citations and other Legal
recess shall be served on the presf-
| lent and in his absence on the secre-
| tary-treasurer.
ARTICLE Ill.
The objects and purposes for which
this corporation is established and the
| nature of the business to be carried
IN 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 ($1O,000) dollars, d.
vided into and represented by one
hundred (100) 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 q
going concern when ten thousand
($10,O00) 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 a sum not to exceed III
teen thousand >($15,000) 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, and
any shares not taken at the expira-
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 q Board Of d.
rectors composed Of three go stock
holders, q majority of whom shall
constitute q 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 Tor
every share owned by him. and all
elections 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 filled by the
directors for the unexpir-
ed term.
The Board of Directors, shall, at
is first meeting after its election,
nominate out Of its number a presi-
dent, vice president and secre-
tary-treasurer; said Board shall have
the right to divide the ONCE OF secre-
tary and treasurer and may elect
secretary who need not be stock
holder, but whose tenure Of office
shall be during the pleasure Of the
Board. And said Board shall have
the right to appoint and dismiss the
clerks, managers, secretary and other
Of the corporation, as the
interests and business Of the same
may require. Any Of the Directors
shall have the right to appoint by
written instrument another Director
as his proxy, to act in his place at
any and all Of the meetings OF the
Board of Directors.
ARTICLE VI.
Until the election to be held on
the second Tuesday in January, 1915.
the following named persons shall
the first Board Of Direct
ors, viz: John T. Coney,, postoffice
Miss, Charles +. Brad
ley, postofice Covington, La, and
Henry e. Coney, postofllce Covington
La, with said John T. Coney as pres
ident, Charles +. Bradley as vice
and Henry e. Coney as
secretary-treasurer.
ARTICLE VII.
No stakeholder shall be liable or
responsible for the contracts, faults
and debts of said corporation, nor