St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1915-05-08

many, or elsewhere in this State: to
construct and erect buildings and
other Improvements on the property
it may acquire; to operate. lease,
mortgage or sell the same; to deal
in mortgage notes. bonds and other
securities; and generally to do all
things incident to the purposes afcre-
said.
ARTICLE w.
The capital stock of this corpora
ton is hereby declared to be the sum
Of Fifteen Thousand Dollars, divided
into fifteen thousand shares Of the
par value OF one dollar each; and
this corporation shall be operative
and go into business and become
going concern when fourteen thous-
and shares of its capital stock shall
have Eeen subscribed and paid Tor,
to- wit, at the execution of these pres
ants. No transfer of stock shall be
binding upon this corporation un-
less same appears on the books there
Of
No stakeholder shall have the right
to assign or transfer any share or
shares held by him unless he shall
have first offered same in writing to
the Board of Directors, which will
have the right to purchase same
within ten days thereafter, at the
valuation determined by the Board;
and in case Of dissatisfaction as to
the price. the matter shall be ar
bitrated, one arbitrator with the pow
ers of amicable compounders to be
appointed by each side, and an lm-
pire to be selected by those two, who
shall take oath, and whose decision
shall be final, and no recourse to ..s1a
courts to be hereafter allowed. And
all the shares CT stock when SO pur-
chased may be reissued at not less
than par value.
ARTICLE v.
1. The corporate powers of thsa
corporation shall be vested in y
Board of Directors 20 be composed
Of seven directors TO lie elected by
the stockholders at a general meet
ing to be held on the first Saturday
of September in each year. No
stakeholder of this corporation shall
have the power to vote except In
person or by proxy.
2. The Board of Directors shall
have the power 70 make all bylaws,
rules and regulations for the CON
duct OF the affairs Of the corpora
| ton; shall elect from their number a
president, vice president and secre-
tary-treasurer.
8. Until the election to be held
as hereinabove provided, the follow
ing shall constitute the first Board
of Directors, viz: Edward p. Cou.
tsin, 4723 Iberville street, New Or
leans, La, George ]. Cousin, New
iberia, la; Raoul j. Cousin, 4723
IberyiIle street, New Orleans, La:
Marie Cousin, Slidell, La Marcel J.
Cousin, Sl;aell, La; Mrs. Laure Tab
airy, Slidell, La; David Pichon. Sill
dell, La, with Edward p. Cousin as
president, George j. Cousin as vice
president and Marcel J. Cousin as
[secretaT y-srea surer.
Thus done and passed at my Office.
! in the city OF New Orleans, on the
day and date first above written, III
the presence OF Messrs. Horace d.
KNAPP and Gerald G.. Wyness, COM
petens witnesses. who have hereunto
su absorbed their names with the said
appeareTs and me. Notary, after
reading OF the whole.
Signed:
e. p Cousin, ........ 1share.
and others.
Witnesses:
H. D. KNAPP
G. G. Wyness.
PERCY S. BENEDICT,
m20-6t Notary Public.
I certify that this instrument was
fled Tor record March 16, 1915, at
II a. m, recorded March 16, 1915.
IN Charter Book !, page ~, OF the
Official recorfs.
W. E. BLOSSMAN,
Dy. Clerk Of Court.