St. Tammany farmer., 1916-03-11

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use q corporate seal. the same to
break or alter at pleasure, and to
make all necessary rules and regula-
tions for Its corporate management
ARTICLE II.
The domlcite OF this corporation
shall be In the village Of Pearl River,
parish Of St. Ta.mmany, State of
Louisiana, and all citation and other
legal processes shall be served upon
the secretary, or In case Of his abb
sence or inability to act. upon any
other officer Of the corporation.
ARTICLE Ill.
The objects and purposes for which
this corporation is organized and the
nature of the business to be carried
on by it, are hereby declared to be:
to manufacture lumber. shingles and
other products Of wood; to buy and
sell tim ber, timber lands, lumber and
other forest products: to acquire by
purchase or otherwise, and to own
and operate. saw mills, planning mills,
and other manufacturing plants
germane to its business; to acquire
by purchase or otherwise. ana to own
and operate logging. roads, tram
ways, skidders. tug boats, barges and
otehr water craft in connection
with its said business. but al q
common carrier: to own and operate
commissaries for the sale by retail
of merchandise; and to do and per-
form all such acts and things con-
nected with or appertaining to the
manufacture and sale Of lumber and
other wood products as are or may
be germaue to the objects and pur-
poses above expressed.
ARTICLE w.
The capital stock Of this corpora
ton is hereby fixed at the sum o1
Fifteen Thousand ($15,000) Dollars.
divided into one hundred and fifty
(150) shares Of the par value Of One
Hundred ($100) Dollars each. all oi
which shall be common stock. and
the amount to which the capital
stock may be increased IL hereby fx-
ed at the sum Of Fifty Thousand
($50,O00) Dollars; the said stock
shall be Issued only for cash or In
payment Of property or services &C
tually received by or rendered to
said corporation: said stock shall be
fully paid for ct the time Of it's Is.
suance and thereafter be non-assess-
able.
Fifty per cent, or Seventy-Five
Hundred($7,500) Dollars Of the cap
ital stock, shall be subscribed be.
fore the fling Of this act Of incor'
poration, and nfty per cent OF the
amount so subscribed shall be actu'
ally paid In before the corporation
engages In business, and the re
mainder OF the amount 80 subscrib
ed shall be paid within one year from
and after the date hereof: the resi-
due of the stock shall be issued ant
paid for subject to the action and
call Of the Board OF Directors II
conformity with the existing pro
visions OF law relating thereto.
The parties hereto hereby sub
scribe for the number Of shares o.
capital stock of the said corporation
set opposite their respective sigma
lures hereto, SO that this act Of In
corporation sh: II also serve as Al
original subscription.
No present or future stockholdel
shall ever validly sell, assign. o.
transfer, other than by Inheritance
any OF the capital stock OF this cor
poration until the same shall hav'
been first offered to the remaininl
stockholders for the benefit OF thos'
stockholders who may desire to pur
chase the same. through the Boart
OF Directors, for q period Of ten day
at the book va'ue OF such stock q
shown by the books OF the corpora
/ tion on the 31st day OF December
preceding the date Of such offer.
shall be the duty Of the Board o
| Directors, promptly, upon .eceivinl
an offer OF sale OF any Of the capita
stock OF this corporation, to com
municate the same to the stockhold
ers, in writing, through the secretar
,of the compcny, and each OF the sal
stockholders shall be entitled to palr
chase such proportion OF the stocl
so offered for sale % the number Q
shares owned BY him bears to th
mum Der Of shares owned by all othe
stockholders desiring to participat
IN the purchase. No oalA under 4orl