St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1918-11-09

power to contract, sue and be sued In
its corporate name; to make and use
a corporate seal and the same to
alter at pleasure; to hold, receive,
purchase, convey, mortgage, hypothe-
cate or pledge property, both real
and personal; to issue bonds, notes
and other obligations; to have and
employ managers, directors, officers,
agents and other employees as the
interests and convenience OF sald
corporation may require; and TO
make and esta blish such bylaws,
rules and regulations for the proper
MANAGEMENT and control OF the at
fairs OF the corporation as may be
reasonable and expedient.
ARTICLE II.
The domicile OF said corporation
shall be in Onville, Parish of st.
Tammany, State of louisiana; all
citations and other legal process
shall be served on the President and
in his absence on the Vice-President,
and in the absence of both, on the
Secretary-Treasurer.
ARTICLE III.
The objects and purposes for
which this corporation is established
and the nature OF the business to be
carried on by it, are hereby declared
to be: To construct, operate and
maintain saw mills, planning mills;
to do a general saw mill BUSINESS, in
GLIDING piling and all other kinds
OF wood products, including turpen-
tine and retort plants; to operate
general cOmmissary and store busl-
ness in connection Herewith, and
generally to do and perform any and
all acts and things pertaining to the
business above enumerated, connect
ell Herewith or arising therefrom, IN
this State and elsewhere.
ARTICLE Nv.
The capital stock Of this corpora
ton Is hereby fixed at the sum OF
Twelve Thousand ($12,00O.OO) Dol
lars, divided into and represented by
one hundred and twenty (12O)
shares OF the par value OF One Hun
dred ($1O0) Dollars each, which
shall be paid for in cash when sub
scribed, or for the purchase of prop
erty as said Board may elect, all OF
which shall be common stock.
That this corporation shall be a
going concern when all OF its capital
stock is actually paid for. All shares
OF stock shall be full paid and non
assessable, which capital stock may
be increased to a sum not to exceed
twenty-five Thousand ($25,O00.OO)
Dollars, in which event, during the
period between the call for the meet
ing for such increase and the meet
ing, the person holding stock at the
time shall have the right to take
shares of the additional or increas-
cd stock. proportionate to the num-
Der Of shares owned by thin, and
any shares not taken at the expira-
ton of said period may be disposed
of by the Board OF Directors. for the
benefit OF the corporation, at not
less than par value. No transfer OF
stock shall be binding upon the cor
poration unless recorded upon the
books.
ARTICLE v.
All the corporate powers OF this
corporation and the management and
control Of its affairs shall be vested
in and exercised by Board OF Di-
rectors composed OF three 60 stock
holders, q majority OF whom shall
constitute q quorum for the transac-
ton Of all of the business. The d.
rectors shall be elected annually by
ballot by the stockholders, on the
third Monday in September OF each
year. Each person shall be entitled
to a vote for every share owned by
him. and all elections shall be hello
under such rules and regulations as
may be determined by the Board OF
Directors. The Directors thus elect
ed shall continue in office for one
year, or until their successors have
been duly elected and qualified. NO
failure to elect shall be regarded as
q forfeiture Of this charter. Any va
cancy occurring on said Board Shall
be filled by the remaining Directors
for the unexpired term.
The Board OF Directors shall. at
ita first meeting after its election,
nominate out Of its number Presi-
dent, q Vice-President and a Score
tary-Treasurer; said Board shall have
the right to divide the office OF Sec
rotary and Treasurer and may elect
a Secretary who need not be stock
holder, but whose tenure OF office
shall be during tho pleasure OF the
Board. And said Board shall have
the right to appoint and dismiss the
Clerks, Managers, Secretary and
other employees OF the corporation
as the interests and business OF the
same may require. Any OF the Di-
rectors shall have the rigth to ap-
point by written instrument another
Director as his proxy, to act in his
stead at any and all meetings OF
the Board Of Directors.
ARTICLE vi.
Until the election of officers to be
held on the third Monday in Sep
TENDER, 1919, the following named
persons shall constitute the first
Board OF Directors, viz: John 7.
Coney, postotfice Hazelhurst, Miss,
Jeremiah Cooley, postotfice Onville
La, and Henry E. Coney, postoftice
Onyille, La, with said John T. Coney
as President, jeremiah Cooley as
Vice-President, and Henry E. Coney
as Secretary-Treasurer.
ARTICLE VII.
No stockholder shall DE liable OF
responsible for the contracts, faults
or debts Of said corporation, nor