St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1917-08-18


be necessary and proper to carry out
the objects and purposes of said cor
poration.
Said corporation unless sooner
dissolved, in accordance with its
charter, shall exist and continue for
q period of ninety-nine years from
and after the date hereof.
ARTICLE II.
The objects and purposes for
which this corporation is organized
md the nature of the business to be
carried on by it, are hereby declared
to be: To produce, manufacture,
buy and sell pine oils, turpentine,
rosin and wood derivatives of all
kinds, disinfectants, proprietary
medicinal preparations, essential
oils and chemicals; to operate ad-
vertising agencies; to own and OPP
crate tram roads, and other means
of transportation; to own. buy and
sell real estate lin connection with
the carrying on of its business; and
in general to engage in any business
incidental to or connected with the
operations of the business above
mentioned
ARTICLE III.
The capital stock of this corpora
ton lis hereby fixed at the sum of
Twenty-Five Thousand ($25, 100000
Dollars, divided into twenty-five hun
dred (25OO) shares of the par value
Of Ten ($1O.OO) Dollars each, pro-
vided, that the amount to which the
capital stock of this corporation may
be increased, shall be One Hundred
Thousand ($1OO,OOO) Dollars.
Which stock may be issued at no
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
said stock shall be paid for in full
| within twelve months after same
shall have been subscribed for, or in
payment or exchange for property or
rights actually received or purchas-
ed by said corporation, provided that
all stock cert :fcates 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
corporation.
All transfers of stock shall be
made on the books of said company
at its Office, on the surrender of the
certificate therefor.
ARTICLE ".
The corporate powers of this Coz
porat'ion shall be vested in and ex-
ercised by a Board of Directors,
which shall consist of five 50 stock
holders, a majority of three 60 OF
whom shall constitute a quorum for
the transaction of business. Said
Directors shall be elected annually
from among the stockholders on the
second Monday in January of each
year, commencing on the second
Monday in January, 1918, as pro-
vided by law.
Within one week of their election,
as above provided for, the Board OF
Directors shall elect from among
their number, a President, Vice
President, and a Secretary-Treasur-
er, provided that one person may
hold the office of both Secretary and
Treasurer, and all of said officers
and directors shall hold their re-
spective Offices for a period of one
year from the date of their election
or until their successors are elected
and qualified. But the failure to
hold an annual election, or to elect
the officers as above provided for
shall not result in q dissolution OF
this corporation, but the then Board
of Directors and officers shall hold
their Offices until their successors
are duly elected and qualified.
Any vacancies occurring in said
Board of Directors shall he filled by
the remaining members of the board
for the unexpired term, at a meet ne
called for that purpose after five 60
days notice in writing, sent by mail
to said Directors at their last known
residence.
The said Board of Directors shall
have the power to make all bylaws
rules and regulations for the proper
management and conduct of the at
fairs of this corporation, and to
change, alter, abolish and amend
same at pleasure, and shall have
and exercise all the powers conferred
by law on this corporation, and as
set forth generally above.
The said Board of Directors may
also delegate any of said powers in
the transaction of the business OF
this corporation to committees oil
their own body, or to the officers and
agents of this corporation.
The first Board of Directors OF
this corporation are hereby declared
to be: Frank w. Mackie, New Or.
leans, La; Fred A. Earhart, New Or.
leans, La; G. E. Schonberg, Coving
ton, La; William P. Young, Gov,
ington, La; and J. H. Warner, Gov.
|ingtOn, La. ..I
With Fred A. Earhart, as presi.
dent; Frank w. Mackie, as vice.
president, and j. II. Warner, as sec
retary1treasurer; who shall hold
their respective Offices until the sec.
ond Monday in January. 1918. OF
until their successors are elected
and qualified.
ARTICLE v.
| No stakeholder shall be held liable
or responsible for the contracts VI
| On - 81 -