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

use corporate seal, the same to
break or alter at pleasure, and te
make all necessary rules and regula-
tons for its corporate management
and control. IS
ARTICLE ii.
The domicile of this corporation
shall be in the village of Pearl River,
parish of st. Tammany, State of
Louisiana, and all citation and other
legal processes shall be served upon
the secretary, or in case of his alb
sence or inability to act, upon any
other officer of the corporation.
ARTICLE III.
The objects and purposes for which
this corporation is organized and the
nature of the business to be carried
on by it, are hereby declared to be:
to manufacture lumber, shingles and
other products OF wood; to buy and
sell timber, timber lands, lumber and
other forest products; to acquire by
purchase or otherwise, and to own
and operate, saw mills, planning mills,
and other manufacturing plants
germane to its business; to acquire
by purchase or otherwise, and to own
and operate logging roads, tram
ways, skidders, tug boats, barges and
other logging craft in connection
with its said business but not as a
common carrier; to own and operate
commissaries for the sale by retail
of merchandise; and to do and per-
form all such acts and things con-
nected with or appertadning to the
manufacture and sale of lumber and
other wood products as are or may
be germane to the objects and pur-
poses above expressed.
ARTICLE w.
The capital stock of this corpora
ton is hereby fixed at the sum Of
Fifteen Thousand ($15, 0OO) Dollars,
divided into one hundred and fifty
(15O) shares of the par value Of One
Hundred ($1OO) Dollars each, all Of
which shall be common stock, and
the amount to which the capital
stock may be increased is hereby fix
ed at the sum of Fifty Thousand
(s5O,00O) Dollars; the said stock
shall be issued only for cash or in
payment Of property or services ac-
tually rendered by or rendered to
said corporation; said stock shall be
fully paid for at the time of its is
suance and thereafter be non-assess-
able.
Fifty per cent, or Seventy-Five
Hundred ($7,5OO Dollars of the cap
ital stock, shall be subscribed be-
fore the filing of this act of incor-
poration, and fifty per cent of the
amount SO subscribed shall be actu-
ally paid in before the corporation
Engages in business, and the re-
mainder of the amount so subscrib-
ed shall be paid within one year from
and after the date hereof; the resi-
due of the stock shall be issued and
paid for subject to the action and
call of the Board of Directors in
conformity with the existing pro-
visions of law relating thereto.
The parties hereto hereby sub
scribe for the number of shares of
capital stock of the said corporation
set opposite their respective sigma
lures hereto, SO that this act of In
corporation shall also serve as an
original subscription.
No present or future stakeholder
shall ever validity sell, assign. or
transfer, other than by inheritance,
any of the capital stock of this cor
poration until the same shall have
been first offered to the remaining
stockholders for the benefit of those
stockholders who may desire to pur-
chase the same, through the Board
of Directors, for a period of ten days
at the book value of such stock as
shown by the books of the corpora
ton on the 31st day of December
preceding the date of such offer. II
shall be the duty of the Board
Directors, promptly, upon receiving
an offer Of sale OF any of the capita
stock Of this corporation, to com.
municate the same to the stockhold
ers, in writing, through the secretar,
of the company, and each of the sale
stockholders shall be entitled to pur
chase such proportion of the stocl
SO offered for sale as the number O.
shares owned by him bears to TIL,
number Of shares owned by an otfel
stockholders desiring to participat,