St. Tammany farmer., 1917-04-07
CHARTERS.

| CHARTERS.
| relative to the organization of cor
porations, and more especially of Ac
267 Of the Acts of the General As
sembly of the State of Louisiana TO
the year 1914, they have covenantet
and agreed, and by these present
do covenant and agree for them
| selves, their successors and assigns
to form themselves into corpora
tion and body polite, for the object
and purposes, and under the stipula
tions hereinafter set forth, to-wit:
ARTICLE l.
The name and title of this cor
poration shall be
The Pine Stump Product Company
Incorporated,
and its domicile is hereby establish
ed at Covington, St. Tammany par.
ish, Louisio ma; and under its cor.
porate name, said corporation shall
have power and authority to con.
tract, sue and be sued; to make and
use corporate seal, and the same tc
break and alter at pleasure; to hold
receive, have, purchase, improve
ALLEVIATE, convey, sell, borrow, pledge
mortgage and hypothecate, under its
said corporate name, property, real
personal and mixed; to name and ap-
point such officers, directors, agents
and managers or employees as the
interests or convenience Of said cor
poration may require; to make and
establish bylaws, rules and regula-
tons for the proper management and
regulation of its affairs, as may be
deemed necessary and proper, and
the same to change and alter at
pleasure; and do all other acts and
things permitted by law, or as shall
be necessary and proper to carry out
the objects and purposes of said cor
poration.
Said corporation unless sooner dis
solved, in accordance with its chart
er, shall exist and continue for a
period of ninety-nine years from and
after the date hereof.
ARTICLE II.
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:
The manufacture and sale of tur-
pentine, rosin, tar and charcoal, and
all other pine productions, and their
by-products. The conducting of a
general commissary and mercantile
business; and generally to do all
things that are necessary. incidental
to or connected with the carrying
on of said business and the objects
and purposes hereina bove set forth.
ARTICLE III.
The capital stock Of this corpora
tion is hereby fixed at the sum of
Twelve Thousand ($12,OOO) Dollars,
divided into one hundred and twen-
ty (12O) shares of the par value of
One Hundred ($1OO) Dollars each,
provided, that the amount to which
the capital stock of this corporation
may be increased. shall be One Hun
dred Thousand ($1OO,OOO) Dollars
Which stock may be issued at not
less than par for cash, at the time
it is subscribed FOR, or at such time
as may be deemed proper by the
Board of Directors, provided that
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within twelve months after same
shall have been subscribed for, or in
payment or exchange for property or
rights actually received or purchased
by said corporation, provided that
all stock certificates shall be signed
by the president and secretary of
said corporation and no stock shall
be issued unless the consideration
therefor has been received by said
All transfers of stock shall ibe
made on the books of said COM
pany at is Office, on the surrender of
the certificate therefor.
All of said stock has been sub
scribed for. If, in addition, any
stock of this corporation is exchang-
ed, either in whole or in part for
or good will, in that event
the provisions of Section 3 of Act
267 of 1914 shall be complied with
strictly.
ARTICLE Nv.
The corporate powers of this cor
poration shall be vested in and ex-
ercised by a Board of Directors,
which shall consist of five 60 stock
holders, a majority of three CD of
whom shall constitute a quorum for
the transaction of business. Said
Directors shall be elected annually
from among the stockholders on the
first Tuesday after the first Monday
Of March of each year, commencing
IN the first Tuesday after the first
Monday in March, 1918.
Notice of such election must be
delivered, personally or by depositing
In the postofice, properly addressed
TO each stockbolder, at least fifteen
days before such meeting.
At said election, and at all other
of the stockholders, the
voting shall be by ballot, and each
share of stock shall be entitled to
one vote by the owner in person, or
BY written proxy.
Within one week of their election,
Is above provided for, the Board of
Directors shall elect from among
heir number, q president, vice.
president, secretary-treasurer and
! general manager, provided one
person may hold the Office of both !
secretary and treasurer. and all of
aid officers and directors shall hold |
heir respective offices for a period |
II one year from the date of their
election. or until their successors