St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1916-02-26

4
requirements. have been compiled
with by the person or persons, firm
or corporation provoking such fore
tclosure or sale. The Board Of Di.
Irectors shall have authority, how.
lever. to waive the above require
Ements as to any particular hypothe.
[cation or pledge of stock, by resolu
tion adopted at a regular called
Injecting of the Board, or at a meet.
ling tatended by all the members o1
the Board of Directors, such res0lu.
ton being adopted in advance OF
the pledge or hypothecation.
ARTICLE v.
| All the powers of this corporation
shall be vested and be exercised b,
a Board Of not less than three 81
NOR more than five 90 Directors, az
determined in advance each year by
the stockholders at the annual meet
ing. The said Directors shall be
bona fide stockholders and shall each
own at all times one Il, full paid
non-pledged share of stock. The
first Board of Directors shall con-
sist of:
James N. CrandaM, address Chi
cago,~ Illinois; Frederick L. Brown,
Chicago, Illinois; T. E. Murrhee, ad-
dress Pearl River, Louisiana; ]. D.
lStockstnl,- address Picayune, Missis
sippi; George II. Stockstill, address
Picaynne, Mississippi. :,
The officers of the corporation,
with their addresses, are as follows:
James N. Crandall, Chicago, ILL.,,
who shall be president; ]. D. Stock
still, Picayune, Miss, who shall be
vice president; Frederick L.. Brown,
Chicago. Ill, who shall be treasurer;
| T. E. Murrhee, Pearl River, La,
who shall be secretary.
The above named Board of Direct
ors and each succeeding Board shall
continue to hold Office for one year,
or until their successors are elected
and qualified. The persons to be
hereafter elected Directors for subse-
quent years shall select from their
! own number president, vice
president, treasurer and secre
tary. The Board of Directors may
from time to time, and as the bust
ness of the corporation may dictate,
combine any two of the above officers
in one and the same person.
On the second Tuesday of Febru-
airy of each year, unless the same
should, fall on legal holiday, then
upon the next following lay day, the
stockholders shall elect Board of
Directors as we'll as the officers al
ready installed shall continue in Of
fcesuntil their successors are elected
and Qualified The election of Di-
rectors shall be ny ballot and the
persons receiving the majority of
votes cast shall be declared elected.
lFor electing Directors, or for any
|other purpose, each share OF stock
bshall be entitled to one vote, wheth-
eT: present or by proxy, but NO frac-
l.tional share of stock shall be entitl-
ed to vote. A majority of the Di-
rectors voting at any one time, in
person or by proxy, shall be requir-
ed to pass any resolution or adopt
adopted, shall become valid corpor-
ate acts. In case of vacancy on the
Board or among the officers from any
cause the remaining members of the
Board shall have the power to fill
such vacancy. Said Board of Direc-
tors shall have the power to enact
such bylaws, rules and regulations
as, IN their opinion, may be neces-
sarys and proper for the management,
operation and control fthe busi-
ness of said corporation. =
So ARTICLE vi.
.,sNotice of all meetings held for the
election of Directors, or for any
other purpose. shall be given in writ
Ing by the secretary and may be
served personally or deposited in the
mail addressed fifteen (15) days be-
fore such meeting is held, and di-
rected to each stakeholder at his last
known address, as the same shall
appear upon the books of the cor
poration, unless said notice is waived
in writing by all of the stockholders
appearing upon the books. At all
meetings of stockholders majority
of the votes cast shall be sufficient
to elect or decide all questions voted
upon, except for the alteration,
amendment or the dissolution of the
corporation.
ARTICLE VII.
This act Of Incorporation may be
altered, amended, or modified, or the
corporation dissolved by vote OF
ltwo-thirds in amount of the capital
stock represented at a general meet
ing Of stockholders, called for that
purpose, after notice as provided in
Article vi OF this charter; and in
case Of dissolution OF the corporation
l.fho sfnck h 01dora at aMch meofin o
shall elect three ca Lqaidating
Commissioners, who shall have en-
tire charge of such liquidation, with
lauthority to sell and dispose Of the
assets of the corporation, and fill
Evacancies occurring in their number.
ARTICLE Viii.
No stakeholder shall ever be hello
liable or responsible for the con-
tracts or faults of this corporation,
| in any further sum than the unpaid
balance due the corporation on the
shares owned by him, nor sail any
mere informality in organization
have the effect of rendering this
charter null, or of exposing stock
holder to any liability beyond the
Famount Of his unpaid stock.
Thus done and passed at my Office
| in the city Of New Orleans, on the
day, month and year first herein.
above written, in the presence Of
John d. Miller and George w. Hick.
ey, competent witnesses, who here
matter sim their names together
with said appearers, and me, the
Notary, after reading Of the whole.