St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1914-08-15

may designate, or shall be issued for
labor performed, services rendered,
or for the purchase of property. as
said Board may elect. All shares of
stock shall be full paid and non-as-
sessable, which capital stock may be
increased to sum not to exceed
One Hundred and Fifty Thousand
l$15O,OOO) Dollars, in which event,
during the period between the call
Tor the meeting and such increase
and the meeting, the persons holding
stock at the time shall have the right
to take shares of the additional or
Increased stock proportionate to the
number of shares owned by them. and
any shares not taken at the expira-
ton of said period may be disposed
OF by the 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
corporation, unless recorded upon it's
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 Board of Di-
rectors composed of three CD stock
holders, majority of whom shall
constitute a quorum for the transac-
ton of all of the business. The Di-
rectors 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 vote for
every share owned by him, and all
elections shall be held under sucn
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 occurr ng
ON said Board shall be filled by the
remaining Directors for the unex-
pired term.
The Board OF Directors shall, at
it's first meeting after it's election,
nominate out of it's number a pres-
dent, a wee president and secretary
and treasurer, and may elect a sec
rotary who need not be a stakeholder,
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 EN-
ployees 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 stead at
any and an meetings of the Board of
Directors.
ARTICLE VI.
Until the election to be held on the
second Tuesday in January. 1915, the
following named perons shall consti-
tute the first Board of Directors, VIZ:
John H. Davis, William Davis and
Robert Wood, with said John H.
Davis as president, William Davis as
vice president, and said Robert Wood
as secretary
ARTICLE VII.
No stockholder shall ever be held
liable or responsible for the cen
tracts, faults and debts of said ear-
porat On, nor shall any mere .nfor-
mality in it's organization have the
effect of rendering this charter null
nor of exposing a stockholder to any
liability beyond the unpaid balance
due on the shares owned by him
ARTICLE VIII.
This act of incorporation may be
changed, modified or altered, or this
corporation may be dissolved with
the assent Of the stockholders owning
a majority of the stock Of the corpor-
alton at a general meeting convened
ten days written notice of this meet
ing having been given through mail,
addressed toeeach share holder at his
last known place of residence
In case of dissolution by the ex-
spiEation of this charter or other
wise, the stockholders shall elect
two (2) liquidators from among their
number to ~liquidate and settle the
business and affairs of the company.
In case of death CT disability of
any of said comm. ss.oners or ligui-
dators, the survivors or the remain
ing liQuidators shall appoint sue
cessor to him.
Thus done and passed in my office
on the day, month and year first
above written, in the presence of
Philip Beaudean and G. Boudousqu.e,
competent witnesses, who have sign
ed with the said appearers, and me
the Notary, after reading of the
whole.
Original signed:
John H. Davis, 200 shares.
William H. Davis, 100 shares.
Robert M. Wood per William H.
Davis. 100 shares.
WITNESSES:
Philip Beaudean.
G. Boudousquie
THOMAS NJ. BURNS,
Notary Public.
A true copy.
THOMAS NJ. BURNS,
Notary Public.
,TATE OF LOUISIANA,
Parish of st. Tammany.
I certify that this instrument was
fled for record July IA. 1914, at
4 T,,1r A