St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1916-02-05

be increased to Two Hundred Thou-
sand ($200.000.0O Dollars or more
in the manner provided BY the laws
of the State Of Louisiana, said stock
shall be paid for In cash, or Its
equivalent In real property Or per-
s0na property, property received for
services rendered, or labor perform
ed In such manner and under the
terms such - the Board Of Directors
may determine, hat no certificates of
stock shall b issued until the same
has beeA Daid fer sither In cash. or
property received, services rendered,
or labor performed. No transfer of
stock shall be binding upon this cor
poration unless recorded upon the
books and until the certificate Of
stock shall have been delivered to
the corporation and duly cancelled.
ARTICLE v.
All the corporate powers OF this
corporation and the management and
control Of its affairs snail be vested
in and exercised by . Board Of Di-
rectors composed Of i've stockhold-
ers Of whom throe shall constitute .
Quorum for the transaction Of bust
ness; the nunbsr Of sd e
Directors nay - hcrG
tioe Of the Board Of Htosl mt
in tAst case . majorit5 q s1hAsA11a-
bef Of the Board Of tSS9I1 1h1li
constitute q quorum tA1rSo9 Sid
Board of Directors shall bx slsoesd On
the third Moaday In 41sbfuary Of
each yoar commencing with the year
1917, and shall Immediately after
the sleetioA elect from among their
nuDbef Q President, . Vice Presi-
dent aal . Treasurer. each Of whom
shaai 10 . otookholdes. They shall
also eject . Secretary Who may or
may not 10 Q stoskholdsf, o the
Treasurer nay hold both omces of
SECRETARY AAa Treasurer. Each
stockAelder shall b entitled. in per
son or by proxy. to enc vote for
every share of stock ovAed By him
or boe.
All elections shall 10 By ballot,
and held ct the Office Of said corpora
ton, aad undor the ssDoriAteadence
OF two coRniSsio1ers 30 b appoint
81 for thot purpose ~ the Dosrd Of
DifsetsxS.
The najoTity Of votes cast shall
elect said Beard Of Dlrectofs, who,
With the officers thereof, shall con-
tiAuo in once u1til their suceossors
have besa elected and qualified.
Notice Of the election Of the Board OF
Directors shall b given By publica-
ton In one Newspaper Dublishsd 1t
the domicile Of the corporation Aud
= written 1otice to the last known
address of each stockholdsr for q
period Of At least fifteen days pre-
vious to said election. The first cleo
ton Of the Board Of Directors under
this charter shall ta;6e place on the
third Monday in February, 1917. un-
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. Sasstnot. 1412
Orleans street, New Orleans, Lou
isiana; NJ. Nielsen, CovinGton, LOU
isiana; e ". Richard, C0vington.
Louisiana: A. H. Grimmer, Cosing-
ton, Louisiana. and A. X. Smith.
Louisiana, of whom L. Il.
Sassinot is President, n. Nielsen.
Vice President; A. III. Gr;mner. Sec
Rotary, and E. v. Richard, Treas
urer.
The failure from any cause to
elect Directors on the day stipulated
shall not dissolve this corporation,
but the officers and directors then
in Office shall hold over until their
successors have been elected and