St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1916-08-19

the purpose x0y WINCH TINS COIQOE-
alton Is established and the nature
of the business to be carried on by
it are declared to be: TO construct:
work and maintain saw mills. plan
ing mills, dry kilns, commissaries
and other buildings, railroads, ca
nails, telegraph and telephone lines
and other works Of pubic improve
ment; to construct. own, lease. hire:
purchase and operate schooners,
steamboats,, towboats, barges, dredse
boats, pull boats and other water
craft, for dredging canals. pul!lng
logs, for transportation OF freight
and passengers; to manufacture lum-
Der. and other building materials.
buy and sell on commission, lumber
and all kinds Of building materials:
logs and all sorts Of merchandise,
and generally to do and perform any
and every act and thing pertaining
to the business above enumerated.
connected Herewith or arising there
from. in this State and elsewhere.
ARTICLE ".
The capital stock Of this corpora
ton is hereby fixed at the sum OF
Five Thousand ($5.000.0O Dollars.
divided into and represented by fifty
(5O) shares Of stock Of the par value
Of One Hundred ($100.00) Dollars
each, which shall be paid for in cash
when subscribed for, or in such man
ner as the Board of Directors may
designate or shall be issued for labor
performed, services rendered, or for
the purchase Of property. as said
Board may elect, Ill Of which shall
be common stock.
That this corporation shall be q
going concern when Twent1 Eve
Hundred :1.00.00J Dollar, Of its
capital stock il actually paid for in
cash. All shares Of stock shall be
full paid and non-assessable, which
capital stock may be increased to a
sum not to exceed Twenty-Five
Thousand ($25,00o.00) Dollars. in
which event, during the period be-
tween the call for the meeting for
such increase and the meeting. the
person holding the stock at the time
shall have the right to take shares
Of the additional ~ increased stock,
to the number Of
shares owned by them. and any
shares not taken at the Expiration of
said period my be disposed Of by the
Board of Directors, for the benefit o.
the corporation at not less than their
par value. No transfer of stock shall
be binding upon the corporation un
less recorded uDon the books
ARTICLE v.
All the corporate powers of tn.
and the management an
control Of its affairs shall be veste
in and exercised by q Board OF
rectors composed Of three CD stoc:
holders, a majority of whom sha
constitute quorum for the trans
action Of all of the business. The
Directors shall be elected annual
by ballot by the stockholders, Of
the second Monday in January o
each year. Each person shall be en-
titled in person or by proxy to a vote
for every share owned by him. an
all elections shall be held under such
rules and regulations - may be de
termined by the Board Of Directors
the Directors thus elected shall con
tinue in Office for one year. or unit
their successors have been duly elect
ed and qualified. No failure to cleo
shall be regarded as q. forfeiture o.
this charter. Any vacancy occurrin;
on said Board shall b filed by tn
remaining Directors for the unex
pired term.
The Board Of Directors shall, a
its first meeting after its election
nominate out of its number Presi
dent, a Vice-President and Secre
tary-Treasurer; said ! Board shall
have the right to divide the Office o
Secretary and Treasurer and may
elect a Secretary who need not be
stakeholder, but whose tenure Of Of
fee shall be during tie pleasure OF
the Board. And said Board shall
have the right to appoint and dismiss
the clerks. managers. secretary and
other employees Of the corporation
as the interests and business Of thf
same may require. Any Of the Di
rectors shall have the right to ap
point by written instrument anothe'
Director as his proxy. to act in his
stead at any and al meetings Of the
Board Of Directors.
ARTICLE vi.
Until the election to be held on
the second Tuesday In January, 1917
the following named persons shall,
the first Board Of Direct
ors, viz: Kenneth Pitcher, postof
fee Hammond, L.: Edward J. Fred
erick, postomce Covington, La: and
Maurice p. Planche, postohice Gov
ington, La. with said Kenneth Pitch
er % president, Maurice p. blanche
as vice-president. and Edward ]
Frederick a. secretary-treasurer.
ARTICLE VII.
No sto"kholder shall be liable OF
for the contracts. fault:
and debts of said corporation, nor
shall any mere informality in its or
have the effect Of render
ing this charter null or Of exposing
a stakeholder to any liability beyon6
the unpaid balance due on the share
owned by him.
ARTICLE VIII.
This act OF Incorporation may be
changed. modified or altered or this
corporation may be dissolved with
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