St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1916-01-22

herein SET 10fI0 400 IN genera 10 90
anything necessary, convenient or in
cidental to the accomplishment OF
said objects and purposes.
ARTICLE Nv.
The capital stock Of this corpora
ton 10 hereby hxed at the sum OF
Eighty thousand ($S0.000.00) Dol
lars, to be divided into and repre-
sented by eight thousand $4,000
shares Of the par value Of Ten Dol
lars each. Said capital stock may
be increased to Two Hundred Thou
sand ($2OO,0OO.OO) Dollars or more
in the manner provided by the laws
Of the State of Louisiana. said stock
shall be paid for in cash. or Its
equivalent in real property or per-
sonal property. property received for
services rendered, or labor perform
ed in such manner and under The
terms such as the Board of Directors
may determine, but NO certificates OF
stock shall be issued until the same
has been paid for either in cash, OF
property received, services rendered
or labor performed. No transfer OF
stock shall be binding upon this cor
poration unless recorded upon the
books and until the certificate OF
stock shall have been delivered to
the corporation and duly cancelled.
ARTICLE v.
All the corporate powers Of this
corporation and the management and
control Of it, afairs snail be vested
in and exercised by . Board Of Di-
rectors composed Of ave stockhold-
ers Of whom three shall constitute a
quorum for the transaction Of bust
ness; the number Of said Board OF
Directors may be increased at the OPP
ton Of the Board Of Directors, but
in that case . majority Of the num-
Der Of the Board Of Directors shall
constitute . quorum thereof. Said
Board Of Directors shall be elected on
the third Monday In February of
each year commencing with the year
1917, and shall Immediately after
the election elect from among their
number q President, . Vice Presi-
dent, and q Treasurer, each Of whom
shall be . stakeholder. They shall
also elect . Secretary who may or
may not be Z stakeholder, or the
Treasurer may hold both offices of
Secretary and Treasurer. Each
stakeholder shall be entitled. in per-
son or by proxy, to one vote for
every share Of stock owned by him
or her.
All elections shall he by ballot,
and held at the Office of said corpora
ton, and under the superintendence
Of two commissioners to be appoint
ed for that purpose by the Board Of
Directors.
The majority Of votes cast shall
elect said Board of Directors, who,
with the officers thereof, shall con-
tinue in Office until their successors
have been elected and qualified.
Notice Of the election of the Board of
Directors shall be, given by publica-
ton In one newspaper published at
the domicile of the corporation and
a written notice to the last known
address of each stakeholder for a
period Of at least fifteen days pre-
vious to said election. The first cleo
ton Of the Board of Directors under
this charter shall take place ON the
third Monday in February, 1917, I'M
til which time, or until their success
sors shall have been duly elected and
qualified, the following persons shall
constitute the first Board of Direct
ors, namely: L. r. Sassinot, 1412
Orleans street, New Orleans, LOU
isiana; NJ. Nielsen, Covington, Lou
isiana; Z ". Richard, Covington,
A. H. Grimmer, Gov ing
ton. Louisiana, and A. r. Smith,
Covington, Louisiana, of whom l.. r.
Sassinot is President, NJ. Nielsen,
Vice President; A. H. Gr;mmer, Sec
rotary, and E. v. Richard, Treas
prer. =!
The failure from any cause to
elect Directors on the day stipulated
shall not dissolve this corporation,
out the officers and directors then |
n office shall hold over until their |
successors have been elected and
lualified. In the event Of failure to !
lold the election on the d stipulat- |
ID the President shall call a new
election Immediately with fifteen |
lays notice as hereinabove provided.
my Director shall have the right to !
vote on all questions before the |
'oard either in person or by proxy; !
he person holding the same to be
ounted in place of the absent mem !
Ter. The Board Of Directors shall
ave the power to fill any vacancies
in its membership from
'mong the stockholders of the cor I
'ora lion. They shall have full con
rol of the property of this corpora
ion and shall conduct and manage
IS business. They shall appoint
uch officers. agents. managers, en-
loyces, servants and clerks as may I!
e necessary for the conducting of /:
he business affairs of the CORPORA IL
ion, shall fix their compensation, |;
nd shall have the right to dismiss j
hem at pleasure, and may make and I:
stahlish as well as alter ard amend Il
ny nd all bylaws, rules and regu- &
.tio S for the conduct, support and Il
LAM cement of the business and af- L.
Mrs If the corporation. Said Board X