St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1916-03-04

2
closure, attachment or other process
or BY virtue Of any power Of attor
Iney. ptedge or hypothecation, shall
be valfdly made until the foregoina
requirements have been complied
with by the person or persons, firm
or corporation provoking such fore.
closure or sale. The Board OF Di-
rectors shall have authority, how
ever, to waive the above require
ments as to any particular hypothe-
cation or pledge of stock, by resoiu
ton adopted at regular called
meeting Of the Board, or at a meet
ing attended by all the members OF
the Board Of Directors, such resolu-
ton being adopted in advance Of
the pledge or hypothecation.
! ARTICLE v.
All the powers Of this corporation
shall be vested and be exercised BY
q Board Of not less than three (3)
nor more than five (5) Directors, as
determined T. advance each year by
the stockholders at the annual meet
Ing. The said Directors shall be
bona fde 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. CrandaN, address Chi
| cago, Illinois; Frederick i. Brown,
Chicago, Illinois; T. e. MLrrhee. ad-
dress Pearl River, Louisiana; j. D..
Stockstill, address Picayune, Missis
sippi; George III. Stockstill, address
Picayune, Mississippi.
The officers Of the corporation.
with their addresses, are as follows:
James N. Crandall, Chicago, ILL.,,
who shall be president; ]. o. Stock
still. Picayune, Miss, who shall be
vice president; Frederick =. 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, 9 vice
president, treasurer and q score
tary. The Board of Directors may
from time to time, and as the busi-
| 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 a legal holiday, then
upon the next following lay day, the
stockholders shall elect q Board Of
Directors for the ensuing year the
Board of Directors as we'll rs the OFF,
GERS already installed shall continue
In office until their successors are
elected and qualified. The election OF
Directors shall be by ballot and the
| persons receiving the majority Of
votes cast shall be declared elected.
For electing Directors, or for any
other purpose, each share Of stock
| shall be entitled to one vote, wheth-
| er present or by proxy, but no frac-
tional share of stock shall be entitl-I
ed to vote. A majority Of the DE-
rectors voting at any one time, IN
person or by proxy, shall be reQuir-
ed to pass any resolution or adopt
any bylaw, and which, when 90
ADOPTED, snaA become valid corpor-
ale acts. IN case OF vacancy on the
Board or among the officers from any
cause the remaining members Of the
BOARD snail nave the power 20 NIL
sucn vacancy. said board OF Dlrec-
tors snali nave the power 70 enact
sucn oy-iaWs, rules ana reguiations
as, IN tnelr OPINION, may De neces-
sary ana proper 1or the managemehl,
operation ana cohtro! OF Inc Dusl-
ness OF salo CORPORATION.
AhflCLE VI.
Notlce o. All meetings neid TOT the
erection OF directors, OF Tor any
otner purpose, snah De gwen III WRIT
ing py the secretary ana may oe
served personahy or oepositea IN the
man addressed nIteen tlo! days pc
lore sucn meetms - neid, ana 81
recteo 70 eacn stocknolaer AZ MS last
known ADDRESS, as the same snai'
appear upon tne DOCKS OF the cor
polatlon, uniess saio notice - waved
II Wrllin1 ny al4 OF tue stock no!oeIs