St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1914-07-25

shares OF the par value OF One Hun
dred ($100.00) Dollars each, which
stock may be issued at not less than
par for cash, at the time it is sub
scribed for, or at such time as may
be deemed proper by the Board of
Directors, provided that said stock
shall be paid for in full within six
months after same shall have been
subscribed for, or in payment or ex-
change for property or rights actu-
ally received or purchased by said
corporation, provided that all stock
certificates shall be signed by the
president and secretary of said cor
poration and no stock shall be issued
unless the consideration therefor has
been received by said corporation.
All transfers of stock shall be
made on the books of said company
at it's Office, on the surrender of the
certificate therefor
This corporation shall commence
doing business as soon as Three
Thousand ($3O0O.00) Dollars of it's
capital stock shall have been SUBJ
lscribed for.
H ARTICLE Nv.
The corporate powers of this cor
pOrati0n shall be vested in and ex-
ercised by Board of Directors, which
shall consist of three (3) stockhold-
ers; majority of two (2) of whom
shall constitute quorum for the
transaction of business. Said Di-
rectors shall be elected annually
from among the stockholders on the
/ first Tuesday after the first Monday
/ In 1,,1 nf
the first Tuesday otter the first Mon
day of July, 1915.
Notice of such election shall be
given by two (2) publications in a
Newspaper published in ST. Tammany
parish, La, within fifteen (15) days
Immediately preceding sad election.
At said election, and at all other
meetings of the stockhc GERS, the vot-
ing shall be by ballot, and each share
of stock shall be entitled to one vote
by the owner in person, or by writ
ten proxy.
Within one week of their election,
as above provided for, the Board of
Directors shall elect from among
Their number, a president, a vice
president and secretary-treasure
provided one person may hold the
Office of both secretary and treasurer
and all of said officers and Directors
shall hold their re-..ective offices for
a period of one year. from the date
of their election, or until their sue
cessors are elected. But the failure
to- hold an annual election, or to elect
the officers as above provided for,
shall not result in a dissolut on of
this corporation, but the then Board
Iof Directors and officers shall hold
| their offices until their successors are
duly elected.
Any vacancies occurring in said
Board of Directors shall be filled by
the remaining members of the Board,
for the unexpired term, at meeting
called for tnat purpose, after five 90
days notice in writing, sent by mail
to said Directors at their last known
residence.
The said Board Board of Directors
shall have the power to make all
bylaws, rules and regulations for
the proper management and conduct
Of the affairs Of tn. S corporation, and
| to change, alter, abol sh and amend
same at pleasure. and shall have and
| exercise all the powers conferred
L Ii,
set forth generally above.
! The above Board of Directors may
also delegate any of said powers in
the transaction of the business of
this corporation. to committee of
their own body, or to the officers and
agent Of this corporation.
The first Board of Directors Of
this corporal on are hereby declared
to be: JOS. Rauch, Emile ALBERT
and Alphonse E. Nichols, with JOS.
Rauch, as president. A1phonse E.
Nichols as vice president, and Emile
ALBERT as secretary-treasurer, who
jshall hold their respective Offices un-
til the first Tuesday after the first
Monday of July, 1915, or until their
succe sors are elected.
/ ARTICLE v.
/ Thu corporation may be 'ssolved
by vote of three-fourths of the cap
ital stock present, at a general meet
ing convened for that purpose, after
forty days advertisement in a news
paper published in st. Tammany par
ish, Louisiana, Immediately preced-
ing said meeting and written notice
of the objects Of said meeting sent to
each stakeholder thirty days prior to
said meeting, at his last known place
of residence.
Whenever this corporation is dis
solved, whether by I'm tation or
otherwise, its affairs shall be liqus-
dated by two liquidating commission
ers to be elected at general meet
ing of the stockholders, and in the
case Of death or inability of any of
sa d commissioner, the surviving
commissioners shall appoint sue
cessor from among the stockholders
and together they shall continue said
liquidation to its termination.
ARTICLE Nv.
This charter may be changed, al
tered or amended, and the capital
stock increased or decreased, by a
vote of twO-ffirds Of the can:tal stock