St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1916-08-12

alton Is estahlished and the nature
OF the business to b carried on ~
! it are declared to be: To construct
work and maintain saw mills, plan
ing mills, dry kilns. commissarles
and other buildings, railroads, ca
mails, telegraph and telephone lines
and other works Of pubic improve
ment; to construct, own. lease, hire
purchase and operate schooners
steamboats,, towboats. barges. dredge
boats, pull boats and other water
craft. for dredging canals. pulling
logs, for transportation Of freight
and passengers; to manufacture lum.
her. and other building materials,
buy and sell ON commission, lumbe.
and ali kinds Of building materials
logs and all sorts Of merchandise.
and generally to do and perform any
and every act and thing pertaining
to the business above enumerated.
connected Herewith or arising there
from, in this State and elsewhere.
ARTICLE ~.
The capital stock OF this corpora
ton is hereby fixed ct the sum OF
Five Thousand ($5.00o.00) Dollars:
divided into and represented by city
(5O) shares Of stock Of the par value
OF One Hundred ($100.00) Dollars
each, which shall be paid for in cash
when subscribed for, or in such man
ner as the Board Of Directors may
designate or shall be issued for labor
performed, services rendered. or for
the purchase Of property. ~ said
Board may elect. al Of which shall
be common stock. aes.
That this corporation shall be q
going concern when TWENTY-FIVE
Hundred .:z.0o.00) Dollars Of lite
capital stock IL actually paid for In
cash. All shares Of stock shall be
full paid and non-assessable, which
capital stock may be increased to
sum not to exceed Twenty-Five
Thousand ($25.00O.00) Dollars. In
which event. during the period be-
tween the call Tor the meeting for
such increase and the meeting. the
person holding the stock ct 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 vt the expiration Of
said period my 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 un-
less recorded upon the books.
ARTICLE v.
All the corporate powers OF thi
corporation and the management an.
control of it's affairs shall be vestet
in and exercised by q Board Of L.
rectors composed OF three 50 STOCK
holders, a majority of whom sha
constitute a quorum for the trans
action of all Of the business. The
Directors shall be elected annual
by ballot by the stockholders. OF
the second Monday In January o;
each year. Each person shall be en-
titled in person or BY proxy to vote
for every share owned by him. AMI
all elections shall be held under such
rules and regulations a. may be de-
termined by the Board OF directors:
the Directors thus elected shall con
tinue in once for one year. or unit,
their successors have been duly elect
ed and qualified. No failure to cleo
shall be- regarded ~ Z forfeiture Of
this charter. Any vacancy occurring
on said Board shall be filled by the
remaining Directors for the unex-
pired term.
The Board Of Directors shall. at
its first meeting after its election
nominate out Of it, number Presi
dent, q Vice-President and Secre-
tary-Treasurer; said Board shall
have the right to divide the ONCE Of
Secretary and Treasurer and may
elect q Secretary who need not be {
stockholder, but whose tenure Of Of
Zee shall be dpRlnG the pleasure Of
the Board. And said Board shall
have the right to appoint and dismiss
the clerks, managero, uecfetary and
other employees Of the corporation
az the interests and business Of thu
same may require. Any OF the Di.
rectors shall have the right to ap-
point by written instrument another
Director as his proxy. to act In his
stead at any and all meetings Of the
Board Of Directors.
ARTICLE vi.
Until the election to be held on
the second Tuesday In January, 1917
the following named persons shall
constitute the nrBt Board Of Direct
ors. viz: Kenneth Pitcher. postof-
fee Hammond, La: Edward J. Fred.
erick, postofnce Covinston. La: and
Maurice p. Planche, postoAce Gov
ington, La, with said Kenneth Pitch
.er as president, Maurice p. blanche
as vice-president, and Edward ]
Frederick 40 secretary-treashrer.
ARTICLE VII.
No stakeholder shall be liable or
responsible for the contracts. FAULT
and debts Of said corporation, nor
shall any mere informally In it, or
ganization have the effect Of render
ing this charter null or Of exposing
a stakeholder to any liability beyond