St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1914-09-12

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 for wnlch
this corporation is established and 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 w.
The capital stock of this corpora
ton is hereby fixed at the sum OF
ten thousand ($lO,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. a
going concern when ten thousand
(s1O,OOO) dollars of it's 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 fif-
teen thousand ($15,O00) 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.
|
corporation and the management end
control Of its affairs shall be vested
TN and exercised by a Board of Di-
rectors composed of three Cd 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 g, vote for
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 IS forfeiture Of
this charter Any vacancy occurring
on said Board shall be filed by the
remaining directors for the unexDsr-
ed term
The Board of Directors. sha,'' at
is first meeting after it's election.
nominate out of it's number presi-
dent, a vice president and secre-
tary-treasurer: said Board shall have
the right to divide the Office of secre-
tary and treasurer end may elect
secretary who need not be a 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
employees 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 |
constitute the first Board of Direct
ors, viz: John T.. Coney, postoffice
Hazelhurst, Miss, Charles T. Brad
ley, postoffice Covington, La, and |
Henry E. Coney, postoffice Covington,
La, with said John T. Coney as pres /
ident, Charles 7. Bradley as vice
president, 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
shall any mere informally in its T
have the effect Of rem
dering this charter null or of ex-
posing q stockh0lder to any liability
beyond the unpaid balance due on