St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1916-10-14

Il
the provisions Of law pertaining
thereto.
No holder of any OF che said stock
shall, without the consent OF the
board OF directors Expressed oy q
formal resolution to that elect, sell
or dispose OF the same 10 14ly person
| not stOckholder III tue .o444paA.
until he shall nrst have ouefe. SAID
stock for sale, at the price BONA hue
offered to him by any non-stocAAola-
err, to the Board of Directors OF the
company, who shall have the right to
buy said stock ut such price Ior the
benefit OF the stockholders of the
company. and to distribute the same,
pro rata, among such stockholders as
are willing to buy the same at such
price. This clause shall be express
ed on the face Of every certificate of
shall have no power to transfer on
the books Of the company any stock
disposed Of In violation Of this pro-
vision Of the charter.
In case Of any increase in the cap
ital stock. the stockholders Of record
at the time of such increase shall
have the preferment right to sub
scribe at par for any such increase,
pro rata to their respective holdings.
ARTICLE NO. 5.
All the powers Of this corporation
shall be vested in and exercised by
Board of Directors, to be composed Of
not less than eight (8) stockholders,
to be elected at the annual meeting
~ "a of nj he
named as Directors, all of whom shall
be stockholders in the corporation,
shall elect from their number Presi-
dent, one or more Vice-Presidents,
q Managing Director. Secretary,
q Treasurer, or q Secretary-Treasur-
er, and such other officers as the Di-
rectors may from time to time de-
termine, all OF whom shall be under
the authority and supervision of the
Board Of Directors. The first Board
Of Directors, with their respective adj
dresses. are as follows:
Frederic w. Salmen, Slideu, La.
Leroy T. Miles, 6lidell, La.
Herbert B. Saunders, Sldell. La.
Edward +. HALEY. Slidell. La.
Fritz Salmen, Slidell. La.
- kAs A01lAAAC4e 0lAOGAAp La.
w. II. Eddins, Slidell, La.
A. d. Canulette. Slidell. La.
Until the first meeting of stock
holders. Frederic w. Salmen shall be
the President; Leroy T. Miles shall
be Vice-President; Herbert B. Saun-
ders shall be Second e-President
and Managing Director, and Edward
=. HALEY shall be Secretary-Treasur
er OF said corporation.
ARTICLE NO. 6.
On the third Thursday OF January,
1917, and on the same day of each |
succeeding year, except when such |
lay shall fall on a legal holiday, in |
which case the meeting shall be held |
IN the next following day, the stock
holders shall elect q Board OF Di- |
rectors for the ensuing year; the
Board OF Directors already installed |
shall continue to hold over until |
their successors are elected and
qualified.
The Board of Directors so elected
shall select from their number the
officers of the Corporation as above
provided, and every such Board ma
appoint all necessary managers and
agents. The election of Directors
'hall be by ballot and the persons
-eceiving the largest number of votes
saSt shall be declared elected For
slecting directors, or for any other
purpose, each share of stock shall
De entitled to one vote, and MAORI
y of votes cast shall be required to
BASS any resolution or decide any
question submitted to the stockhold-
srs except for the alteration O
Of this charter, or /.
OF the Corporation.
Said Board of Directors sha
,ower and authority to make a.
'ssary rules and regulations t.
operation ana c.
II the business Of the Corporal
md shall have power to fiji any !
:ancy occurring in their number.
majority Of the Directors voting =
me time, In person or by proxy. sna5
'e required to pass any resolu il
II adopt any bylaw, and which, Whe1
o adopted. shall become va-iu cor 4
|Orate acts. +
ARTICLE NO. Z.
Notice Of all meetings Of stoc, T;
folders for electing Directors or 70, /.
my other purpose. shall be given il
7riting by the Secretary, such MOTTO
0 be delivered personally or to be /.
deposited In the postoffice, properly
to each stockholder. at Il
lis last known address appearing up-
u the books OF the Corporation, at 4
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