St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1917-03-31
CHARTERS.

CHARTERS.
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relative to the organization Of cor
porations, and more especially OF Act
267 of the Acts Of the General As
sembly Of the State of Louisiana for
the year 1914, they have covenanted
and agreed, and by these presents
do covenant and agree for them
selves, their successors and assigns,
to form themselves into corpora
ton and body polite, for the objects
and purposes, and under the stipula-
lions 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, LOUISE 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 a corporate seal, and the same to
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 IL.
The objects and purposes for which
this corporation is organized and the
nature Of the business to be carried
on by 1t, are hereby declared to be:
The manufacture and sale of tur-
pentfne, rosin, tar and charcoal, and
all other pine productions, and their
by-products. The conducting of a
general c0mmissary 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 ($12,0OO) Dollars,
ty (120) shares of the par value of
One Hundred ($100) Dollars each,
provided, that the amount to which
the capital stock of this corporation
may be increased, shall be One Hun
dred Thousand ($1OO,O0O) Dollars
Which stock may be issued at not
less than par for cash, at the time
1t 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.
AL 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 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 (5) stock
holders. majority of three 80 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
one vote by the owner in person, or
by written proxy.
Within one week of their election,
as above provided for, the Board Of
Directors shall elect from among
their number. a president, a vice.
president, a secretary-treasurer and
q 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
o1ocfion- 0r until their successors