St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1916-05-13

and constitute corporation an
corporation and body polite in Law
for the purpose and OBJECTS and VI
der the stipulations. articles an
conditions following, to-wit:
| article !.
The name and title OF the said col
porauon shall be Merchants Grocer
Company, Incorporated, and il
domlcile is hereby established at 81
dell. st. Tammany Parish, Louis
ana: and under its said corporal
name said corporation shall hav
power and authority to contract, su
and be sued; to mare and use q COZ
porate seal. and the same to brea
and alter at pleasure; to hold, re
ceive. have. purchase. improve, alien
ate. convey. sell. borrow. pledge
mortgage and hypothecate under it
said corporate name, property. Tea
ana personal and mixed; to nam
and to appoint such officers, direct
ors. agents and managers or employ
es as the interest or convenience o
said corporation may require; t,
make and establish bylaws, rule
and regulations for the proper man
agement and regulation Of its affair,
as may De deemed necessary an(
proper. and the same to change an&
alter at pleasure; and to do al
acts and Things permitted by law e.
as may be necessary and proper t<
carry out the objects and purposes
OF said corporation.
Said corporation, unless sooner
dissolved, IN accordance with it,
charter, shall exist and continue fol
the peilOd Of ninety-nine years frOl.
and after the date hereof.
The president or in his absence
the vice-president shall be the prop
er person upon whom citation OF
other legal process shall be served.
ARTICLE II.
The objects and purposes TO.
which this corporation il organized
and the nature Of the business to b.
carried on by 1t are declared to be
the following. to-wit:
A wholesale grocery and grain
business; to hold or to purchase oils,
wire. etc; and any other product in
ci1ental to general wholesale gro
Gerry and grain business.
ARTICLE III.
The capital stock Of the said cor
poration shall be Ten Thousand Dol
lars ($1O,OOO.OO) divided into and
represented by one hundred (1OV,
shares Of the sum of One Hundred
Dollars { 5000 each which said
stock shall be paid for in cash at the
time Of the subscription or the same
may be issued. at not less than par,
in payment or exchange for property
or rights actually received or pur-
chased by said corporation or the
same may be issued, full paid. fol
money advanced, and for such Othel
considerations or services
as the board Of directors Of said COM
poration may determine; provided
that NO stock shall be issued unit,
the consideration therefor has been
received by the said corporation.
Any stakeholder may sell, assign
Dr. transfer his stock In this corpora
lion, provided thirty 500 days priol
notice Of such intention to sell, trans
Ter or assign the same be given the
company and the other stockholders
thereof shall have the first privilege
II purchasing same. after which
thirty days notice the said stock
nay be sold in open market.
+. The stock of said corporation may
,e transferred under the above con-
litions, provided such transfers
hereof be made on the books OF said
company at its Office in Slidell. Lou
siana, and on the surrender Of the
thereof. No transfer Of |
my fractional part of q share shall |
70 made.
Fifty per cent or Five Thousand
Dollars Of the capital stock shall be |
before the fling Of this |
ct OF incorporation, and fifty per |
ent of the amount 80 subscribed
hall be actually paid in before the
engages In business, and
he remainder Of the amount 50 sub
cribed shall be paid within one year
rom and after the date hereof: the
esidue Of the stock snail be issued
nd paid for subject to the action
t the board Of directors in conform
ty with the existing provisions Of
aw relating to corporations.
ARTICLE w.
The corporate powers Of this COM
any shall be vested In and exercis-
d by q board Of directors Of not
ess than three (3) directors consist
ne Of the president and vice-prest-
ent and one stockholder, or the
oard shall consist of not more than
We (5) directors. A majority Of
aid board shall constitute q quorum
or the transaction Of business and
heir decisions shall be valid corpor-
to acts.
The following persons shall con-
titue the first board Of directors:
J. L. Morgan, NJ. P. Schneider. s.
!. Redden.
No person shall be eligible as d.
ector or officer who Is not stock
older Of this company.
During the absence Of the presi-
ent the vice-president shall act and
reside.
Said board shall continue in Office
ntil the 5th day Of January, 1917
n which date and thereafter annu-
lily, board Of directors shall be
lected on the 5th day Of January
{ each year, unless the same should
9 a holiday. when the eection shall
9 held on the next legal day there
fter.
Notice Of such election shall be
iven by at least ten (10) days con-
Inuous publication Immediately pre-
eding such election In Z daily paper
4 ~ *.