St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1916-04-29

and constitute . corporation ant
corporation and body polite in law
TOR the purpose ana ooJects and un
der the stlpuAatlons. articles ant
conditions following. to-wit:
article |.
The name and title OF the said cor
porauon snail De Merchants GrOcerj
company, incorporated, and it.
domlc1le is hereby established at Sill
dell. st. Iemmany Parish. Louisi,
ana aud under It's 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-
ceive. have, purchase. improve, alien
ate, convey. sell. borrow, pledge
mortgage and hypothecate under ltt
said corporate name, property. real
and personal and mixed; to name
and 10 appoint such omcers, direct
ors, agents anu managers or employ
es as the interest or convenience Of
said corporation may require; ia
make and estaD iish bylaws, rules
and regulations for the proper man
agemeAl and regulation OF its AFFAIRS
as may ue deemed necessary and
proper, and the same to cnange an4
alter at pleasure; and 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 its
charter. shall exist and continue for
the period OF ninety-nine years trol.
ana after the date hereof.
The president or in his absence
the yice-president shall be the prop
or person upon whom citation OF
other legal process shall be served.
ARTICLE II.
The objects and purposes TO-
which this corporation 10 organized
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 q general Wholesale gro
Gerry and grain business.
ARTICLE Ill.
The capital stock OF the said cor
poratlon snail be Ten Thousand Dol
lars ($l0,Ov0.0O) divided into and
represented by one hundred 600,
shares OF the sum Of One Hundred
Dollars { 5000 each which said
stock shall be paid tor 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. tol
money advanced, and tor such olhes
valuab BILE considerations or services
as the board OF directors Of said COM
poration may determine: provided
that no stock shall be issued unit.
the consideration therefor has been
received by the said corporation.
Any stakeholder may sell, assign
or transfer his stock in this corpora
ton, provided thirty 500 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
isiana, and on the surrender OF the
certificates thereof. No transfer Of
any fractional part Of share shall.
be made.
Fifty. per cent or Five Thousand
Dollars Of the capital stock shall be,
subscribed before the filing OF this
act OF incorporation, and fifty per
cent of the amount SO subscribed
shall be actually paid in before the
corporation engages in business. and
the remainder of the amount SO sub
scribed shall be paid within one year
from and after the date hereof; the
residue Of the stock snail be issued
and paid TOR subject. to the action
of the board Of directors In conform
ity with the existing provisions OF
law relating to corporations.
ARTICLE w.
The corporate powers Of this COM
pany shall be vested In and exercis-
ed by q board Of directors OF not
less than three go directors consist
ing Of the president and vice-presi-
dent and one stockholder. or the
board shall consist Of not more than
i've (5) directors. A majority Of
said board shall constitute . quorum
for the transaction Of business and
their decisions shall be valid corpor-
ate acts.
The following persons shall con-
stitue the first board Of directors:
G. L. Morgan, NJ. p. Schneider, 8.
r. Redden.
No person shall be eligible rs d.
rector or officer who is not . stock
holder Of this company.
During the absence OF the presi-
dent the yice-president shall act and
preside.
Said board shall continue in Office
until the 5th day Of January. 1917
ON which date and thereafter annu-
ally, q board of directors shall be
elected on the 6th day Of January
OF each year, unless the same should
be . holiday. when the eection shall.
be held on the next legal day there
after.
Notice Of such election shall be
given by at least ten (10) days con-
tiuuous publication Immediately pre-
ceding such election in Z daily paper
of the parish Of st. TammAny II