St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1916-01-15

property received. services rendered
tr labor performed. No transfer OF
stock snail be binding upon this cor
poration unless recorded upon tbs
books and until the certificate
stock shall nave been delivered t.
the corporation and duly cancelled
ARTICLE v.
All the corporate powers OF thit
corporation and the management an
control Of its anairs sAal be vest
in and exercised by Board OF "
recto,s composed of i've stockhold-
ers Of whom three shall constitute a
quorum for the transaction of BUS
ness; tne 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 mum
Der of the Board of Directors shall
constitute q quorum thereof. SAT-
Board of Directors shall be elected on
the third Monday in February OF
each year commencing with the year
1917, and shall Immediately ate.
the election elect from among their
number 4 President, q Vice Presf-
dent, and Treasurer, eacn OF whom
shall be q stakeholder. They shall
also elect q Secretary who may or
may not be q 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 fol
every share Of stock owned by him
or her.
All elections shall be by ballot
and held at the office Of said corpora
ton, and under tie superintendent
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 en-
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
q written notice to the last known
address Of each stockholdAr for a
period Of at least fifteen days pre-
vious to said election. The hrst elec-
ton Of the Board Of Directors under
tais charter shall take place on tle
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. Sassinol, !41c
Orleans street, New Orleans, Lou
isiana; NJ. Nielsen, Coviugto.., Lou-
!siana; E ". Richard, Gvvlngtcn,
Louisiana; A. H. Grimmer, Cov:ng-
ton, Louisiana, and A. r. Smith.
Covington, Louisiana, Of whom L. r.
Sassinot IL President. II. Nielsen,
Vice President; A. H. Gr:mEar Sec.
rotary. and q. v. Richard, Treas-
rrcr.
The failure from any cause to
elect Directors on the day stipulated
shall not dissolve this corporation,
but the officers and directors then
N Office shall hold over until their
SUCCESSORS have been elected and
qualified. In tae event Of failure to
hold the election on the day stipulAt-
ed the President shall call q new
election Immediately with fifteen
days notice 40 hereinabove provided.
Any Director shall have the right to
vote on all questions before the
board either in person or by proxy;
the person holding the same to be
counted in place Of the absent mem
Der. The Board Of Directors shall
have the power to fill any vacancies
occurring in its membership from
among the stockholders Of the cor
poration. They shall have full con-
troll Of the property Of this corpora
ton and shall conduct and manage
its business. They shall appoint
such officers. agents, m anagers, en-
ployees, servants and clerks as may
be necessary for the conducting Of
the business affairs Of the corpora
ton, shall FIX their compensation,
and shall have the riglt to dismiss
them at pleasure, and may make and
establish as we'll IS alter and amend
any and all bylaws, rules and regu-
lat:ons for the conduct, support and
management Of the business and at
fairs of the corporation. Said Board
Of Directors shall have full power to
contract debts, borrow money, issue
notes, bills Of exchange, bonds. anf
other oblig atoms, execute and grant
mortgages and receive same, and
generally to do all t1ings necessary
for the conduct Of the business, and
shall have full power to issue and
deliver full paid shares Of stock for
cash or property received, services
performed. Or labor done. All GER
tificates Of stock Of this corporation
after having been duly ordered issu.
ed by the Board Of Directors shall
bear the seal of this corporation
and be signed by tle President and
Secretary, and in the absence of tn
President then signed by the Vice
President.
ARTICLE VII.
Tbs charter or act Of incorpora-
ton may be changed, modified or
8 mended, or this corpo: alton m ~ be
dissolved at ! general meeting Of the
stockholders convened for that pur-
pose with the consent Of three
fourths Of the capital stock present