St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1914-08-08

ed by two hundred and fifty (25O)
SHARES Of the par value Of One Hun.
dred ($1OO.OO) Dollars each, which
stock may be issued at not less than
par for cash, at the time it is sub
scr bed 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 its Office, on the surrender of the
certificate therefor
This corporation shall commence
doing business as soon as Three
Thousand ,($30OO.0O) Dollars of its
capital stock shall have been sub
scribed for.
ARTICLE Nv.
The corporate powers of this cor
poration shall be vested in and ex-
rcised by Board of Directors, which
shall consist Of three (3) stockhold-
ers; a majority of two (2) of whom
snail constitute a quorum for the
transaction of business. Said Dr.
rectors shall be elected annually
from among the stockholders on the
first Tuesday after the first Monday
In July of each year, commencing on
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 sa' election.
At said election, and at all other
meetings of the stock1a sders, the yot-
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
the number, president, a vice
president and secretary-treasurer,
provided one person may hold the
office of both secretary and treasurer.
and all Of said officers and Directors
shall hold their respective Offices for
a period of one 5ear 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 dissolut on of
this corporation, bat the then Board
of 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 unexpsred term, at meeting
called for That purpose, after five (5)
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 this corporation, and
to change, alter, abol sh and amend
exercise all the powers conferred
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 corporation are hereby declared
to be: Jos. Rauch, Emile ALBERT
/ and Alphonse E. Nichols, with JOS:
Rauch, as president, Alphonse E.
Nichols as vice president, and Emile
ALBERT as secretary-treasurer, who
shall hold their respective Offices un-
til the first Tuesday after the first
Monday of July, 1915, or until their
successors are elected.
ARTICLE V.
Ts.is corporation may be d 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 limitation or
otherwise, its affairs shall be liqu.-
dated by two liquidating commission
ers to be elected at a general meet
ing of the stockholders, and in the
case Of death or inability Of any of
sa comm .ssioner, the surviving
commissioners shall appoint sue
cessor from among the stockholders
and together they shall continue said
liquidation to its termination.
ARTICLE ".
This charter may be changed, al
tered or amended, and the capital
stock increased or decreased, by
vote OF two-thirds Of the capital stock
ssued at general meeting callea
for that purpose, after thirty days
prior notice in writing, having been
sent to each stakeholder at his last
known residence. stating the object
of said meeting, and forty days adj
vertisement in newspaper publish
ed In st. Tammany par .sh. La, in
which the object of the meeting is
also stated.
ARTlCE VII.