St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1917-03-17
The objects and purposes for which

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 hereinabove set forth.
ARTICLE III.
The capital stock of this corpora
ton is hereby fixed at the sum of
Twelve Thousand ($12,00OO Dollars,
divided into one hundred and tWen-
ty (120) shares of the par value OF
One Hundred ($10O) Dollars each,
provided, that the amount to which
the capital stock of this corporation
may be increased, shall be One Hun
dred Thousand ($1O0,000) 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
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 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
| corporation.
". All transfers of stock shall ,be
| 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
| property or good will, in that event
! the provisions of Section 3 of Act
| 267 of 1914 shall be complied with
| strictly.
ARTICLE w.
| The corporate powers of this cor
poration shall be vested in and ex-
ercised by Board of Directors.
which shall consist of five 60 stock
| holders, 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
first Tuesday after the first Monday
of March of each year, commencing
on the first Tuesday after the first
Monday in March, 1918.
Notice of such election must be
delivered, personally or by depositing
in the postoffice, properly addressed
to each stakeholder, at least fifteen
days before such meeting.
At said election, and at all other
meetings of the stockholders, the
voting shall be by ballot, and each
share of stock shall be entitled to
by written proxy.
Within one week of their election,
as above provided for, the Board of
Directors shall elect from among
their number, president, a vice.
president, a secretary-treasurer and
a general manager, provided one
person may hold the Office of both
secretary and treasurer, and all of
said officers and directors shall hold
their respective offices for a period
of one year from the date of their
election, or until their successors
are elected. But the failure to hold
an annual election, or to elect the
officers as above provided for, shall
not result in dissolution of thi
corporate ton, but the then Board o.
Directors and officers shall hold their
Offices until their successors are duly
elected.
Any vacancies occurring in said
Board of Directors shall be filed by
the remaining members of the Board
for the unexpired term, at meeting
called for that purpose, after five
90 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 af-
fairs of this corporation, and to
change, alter, abolish and amend
same at pleasure, and shall have and
exercise all the powers conferred BIZ
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 Of
!, their own body, or to the officers
and agents Of this corporation.
The first Board of Directors Of this