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

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dental for the carrying on of its bus:
ness, as we'll as to issue bonds Sc
cured by such mortgages; to max;
and issue notes and other certifi
Gates of Indebtedness; to name
elect and appoint managers, direct
ors, clerks or other employees t:
properly conduct its corporate bus:
ness, and to make such bylaws
rules and regulations as may be nee
essary or found desirable for the
management of the business and at
fairs of this corporation and gen.
orally to do every other act. matter
or thing necessary or desirable fol
the complete and proper carrying out
of said business.
ARTICLE II.
The domicile of this corporation
shall be at Pearl River, in the parish
of st. Tammany, State of Louisiana
where all citations or other legal
process shall be served upon the
president, or in his absence on the
vice-president, or in the absence %;
both upon the secretary.
ARTICLE III.
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 and
stated to be to manufacture, buy
and sell veneer, lumber, shingles,
timber, logs, box shocks and wood
en- packages of all kinds, and all
other timber products, for either do
nestle sale or export; and to that
| end, to purchase, lease or otherwise
acquire and operate veneer mills,
box factories and sawmills in the
State of Louisiana and elsewhere;
| to construct, acquire and use rail
ways, tramways and other roads or
rights of way for the transportation
of veneer, boxes, shocks, lumber,
timber, logs, and other products;
to buy, lease or otherwise acquire
timber lands and timber rights On
land, and to acquire, lease, hold and
buy lands + r the use of sawmills
and factories and timber yards, in
the State of Louisiana, or elsewhere;
to acquire by purchase, lease or 9th
erwise, patents or inventions that
might be used for the purposes of the
business of this corporations; and
generally to do and perform any and
all things necessary or convenient
to carry on said objects and pur-
poses.
ARTICLE Nv.
The capital stock of this corpora
ton is hereby fixed at the sum of
Twenty Thousand ($20,OOO) Dol:
lars, divided into Two Hundred
(2OO) shares of the par value of One
Hundred $4,000 Dollars each, pro-
capital stock of this corporation may
be increased shall be Fifty Thousand
($5O,OOO) Dollars.
One Hundred (1O0) shares, or Ten
Thousand ($1O,0OOO Dollars of the
capital stock of this corporation must
be subscribed before the filing of the
article of Incorporation. The sub
scribed capital stock of this corpora
ton shall be payable in cash, prop
erty (real or personally, or for labor
and services rendered and per-
formed.
No stakeholder shall ever be held
liable or responsible for the faults,
contracts or debts of this corpora
ton in any further sum than the
unpaid balance due the corporation
on the shares of stock subscribed by
him, nor shall any mere informality
in organization have the effect of
rendering this charter null, or of ex-
posing any shareholder to any liza
bility whatsoever.
This corporation shall not engage
in business until One Hundred (1OON
shares, or Ten Thousand ($10,000)
Dollars of the capital stock shall
have been issued and paid in, in
cash. If, in addition, any stock Of
this corporation is exchanged, either
in whole or in part for property or
good will, in that event the pro-
visions of Section of Act 267 of
1914 shall be complied with strictly.
ARTICLE v.
All the corporate powers of this
corporation shall be vested in and
exercised by a Board of Directors to
ibe composed of three stockholders,
each of whom shall own in his own
right, during his term Of office, at
least one fill paid share of stock,
all of whom shall constitute a
quorum for the transaction of bust
ness; provided, the Board of Direct
ors are hereby authorized to in
crease, in their discretion, the num-
Der of Directors to four, in which
case three shall constitute a quorum.
The officers of this corporation
shall consist of president, vice
president, secretary and treasurer,
all of whom shall be members of the
Board of Directors. The Offices of
secretary and treasurer may be COM
bined in one and the same person.
The following named persons shall
constitute the first Board of Direct
ors, to-wit:
Clement B. Penrose, No. 4O1 Au-
dubon street, New Orleans, Louisi-
ana; John B. Lionnet, No. 935 Car
rolton avenue, New Orleans, Louisi-
ana; Victor B. Macksey, Pearl River,
Louisiana, all residents of the State
of Louisiana, as above stated, with
Clement B. Penrose, president; John
NJ. Lionnet, vice-president, and Vic
tor B. Macksey, secretary-treasurer.
and these directors and officers shall
hold office until the first Wednes-
day of January, 1918, or until their
successors are duly elected and quail
fed.
Thereafter the directors shall be
elected annually on the first Wednes-
day of January, of each year; all
elections of directors shall be by bal
lot, and each stakeholder shall b
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