St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1916-05-06

land constitute corporation an,
corporation and body polite in law
Tor the purpose and objects and I'm
der the stipulations, articles ant
conditions following, to-wit:
ARTlCE |.
The name and title OF the said cor
porauon shall be Merchants Grocery
Company, Incorporated, and it
domlcile is hereby established at Sill.
dell. st. Tammany Parish, Louisi.
ana; and under its said corporate
name said corporation shall have
power and authority to contract, sue
and be sued; to mare and use cor
porate seal, and the same to break
and alter at pleasure; to hold. re-
ceiye. have. purchase, improve, alien
ate, convey. sell. borrow, pledge,
said corporate name. property. real
and personal and mixed; to name
aud to appoint such officers, direct
Ors. agents and managers or employ
es as the interest or convenience Of
said corporation may require; to
make and establish bylaws, rule:
and regulations for the proper man
agement and regulation of its affairs
as may be deemed necessary and
proper. and the same to change. anc
alter at pleasure; anu to do all
acts and things permitted by law E.
as may be necessary and proper to
carry out the objects and purposes
OF said corporation.
Said corporation, unless sooner
dissolved, IN accordance with it,
charter, shall exist and continue fol
the period Of nlnety-nine years frol
and after the date hereof.
The president or in his absence
the vice-president shall be the prop
er person upon whom citation o.
other legal process shall be served
ARTICLE III.
The objects and purposes TO-
and the nature of the business to b.
carried on by it are declared to be
the following, to-wit:
A wholesale grocery and grain
business, to hold or to purchase oils,
wire, etc; and any other product in
cidental to general wholesale gro.
Gerry and grain business.
ARTICLE Ill.
The capital stock of the said cor
poration shall be Ten Thousand Dol
lars ($1O,0OO.00) divided into and
represented by one hundred 600
shares of the sum of One Hundred
dollars { 5000 each which said
stock shall be paid for in cash at the
time OF the subscription or the same
may be issued. at not less than par,
IN payment or exchange for property
or rights actually received OR pur-
chased by said corporation Or the
same may be issued. full paid, fol |
advanced, and for such otle. |
valuable considerations or services
as the board of directors OF said COM
poration may determine; provided
that no stock shall be issued until
the consideration therefor has been
received by. the said corporation.
Any stakeholder may sell. assigL |
or transfer his stock in this corpora
ton, provided thirty (3O) days prior |
notice Of such intention to sell. trans
fer or assign the same be given the
company and the other stockholders |
thereof shall have the first privilege |
Of purchasing same. after which
thirty days notice the said stock
may be sold in open market.
The stock Of said corporation may
be- transferred under the above con-
ditions, provided such transfers
thereof be made on the books of said
company at its Office in Slidell. Lou
lsiana, and on the surrender of the
thereof. No transfer OF
any fractional part of q share shall
be made.
Fifty per cent or Five Thousand
Dollars Of the capital stock shall be
before the fling Of this
act Of Incorporation. and fifty per
,ent Of the amount so subscribed
shalt be actually paid in before thu
engages in business. and
he remainder OF the amount 20 sub
,cribed shall be paid within one year
rom and after the date hereof; the
residue al the stock shall be issued
md paid for subject to the action
If the board Of directors in conform
ty with the existing provisions OF
aW relating to corporations.
ARTICLE w.
The corporate powers Of this COM
3any shall be vested in and exercts-
I'd by q board Of directors of not
ess than three 90 directors consist
ng Of the president and vice-presi-
lent and one stockholder, or the
BOARD shall consist of not more than
I've (5) directors. A majority of
aid board shall constitutes quorum
or the transaction of business and
heir decisions shall be valid corpor-
tie acts.
The following persons shall con-
Ititue the first board Of directors:
). l.. Morgan, NJ. P. Schneider. s.
{. Redden.
No person shall be eligible as d.
'ector or officer who is not stock
lolder Of this company.
During the absence of the presi-
lent the vice-president shall act and
preside.
Said board shall continue in Office
Until the 5th day of January, 1917
N which date and thereafter annu
lily, a board Of directors shall be
elected on the 5th day Of January
# each year, unless the same should
" q holiday, when the eection shall
,e held on the next legal day there
Ifter..
Notice of such election shall be
,iven by at least ten (10) days con-
inuous publication Immediately pre-
:eding such election in daily paper