St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1918-01-19

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presents do covenant and agree, bind
and form and constitute themselves,
as we'll as such other persons who
| may hereafter join or become as1o-
ciated With them. into a corporation
and body polite in law, for the OBJ
jects and purposes, and under the
agreements and stipulations follow
ing, to-wit: r
ARTICLE /.
The name and style of this corpor-
alton shall be the Onville Mercantile
Company, Inc, and under that name
it shall have and enjoy all rights and
privileges granted by law to corpora
items; it shall exist for a period OF
! ninesy-nine years from this day; II
shall have power to contract, sue
and De sued in its corporate name;
to like and use corporate seal and
he same to alter at pleasure; to
ao.t receive, purchase, convey
nor sage, hypothecate or pledge
5ro- 4rty, both real and personal; te
ssu bonds, notes and other obliga-
ion to have and employ such man
| ggel directors, officers, agents and
the employees as the. interests and
ON nience of said corporation may
eql re: and to make and establish
| ucl bylaws, rules and regulations
or &c. proper management and con
| roll If the affairs of the corporation
IS may be reasonable and eXpedient
ARTICLE II.
Tho domici.e of said corporation
| shall be at OWL, Parish of St Tam
| many, State of louisiana; al cita-
| lions and other legal process shall be
| served On the President, and in his
| absence on the Vice President, and
| m the absence of both, on the Secre-
tary-Treasurer.
| ARTICLE III. =
The objects and purposes tor
which this corporation is established
| and the nature of the business. to bt
| carried on by it, are declared to be:
| To conduct and operate general
store business, both whole9a-e and
| retail, and any and all other bust
ness vocations or callings incidental
to or connected Herewith, or arts
| ing tehrefrom, in this State or else
where.
| ARTICLE w.
/ The capital stock of this corpora
ton is hereby fixed at the sum OF
| Eight Thousand 100000 Dol
lars, divided into and represented by
| eighty ESQ., shares OF stock of the
par value OF One Hundred (S1OO.OO
| Dollars each, which shares shall be
| paid for in cash when subscribed for
or for the purchase Of property, as
said Board of Directors may elect
all of which shall be common stock.
That this corporation shall be q
going concern when Eight Thousand
(sS,O0O.O0) Dollars of It's capita
stock is actually paid for in cash, OF
the equivalent in property. Al
shares shall be full paid and non-as
sessable, which capital stock may be
| increased to a sum not to exceed
Fifty Thousand (S5O,O00.0O Dol
lars, in which event, during the
period between the .aN 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
ed stock, proportionate to the mum
ner of shares owned by them, and
any shares not taken at the expira
ton of said period may be disposed
fof by the said Board of Directors
| for the benefit of the corporation a
not less than their par value. NJ
transfer of stock shall be bindins
upon the corporation unless record
| ed upon the books.
ARTICLE V.
All thes. corporate powers OF th'E
corporation and the management
and control of its affairs shall fbt
vested on and exercised by a Boare
| IF Directors composed Of four a.
stockholders, a majority OF whom
hall constitute a quorum for the
transaction of all of the business
The Directors shall be elected an
nually by ballot by the stockhold
ars. on the second Tuesday in De
! eemher of each year. Each person
shall be entitled in person or by
DroxT to vote for every share own
| cd Nv him, and all elections shall 'bt
! held under such rules and regu,a
| ion as may be determined by the
| Board of Directors, the Directors
AhuG elected shall continue in Office
| cor me year or until thoic successor!
have been duly e.acted and qualified
| No. allure to elect shall be regarded
8 forfeiture of this charter. An,
vacs.7oy occurring on said Board
! ha 'be flied by the remaining Di
| &c RS for the unexpired term.
- 3 Bcard of Direc- RS shall, al
= Tst meeting after its election
| n nate OFT Of its number G Presi
! We President and Sec1e
/ ar Treasurer; said Beard shall
| ~ the right to divide the office O.
| s=~ sTv md Treasurer and ma,
| ~ a Gesrstary who need not be Z
| - n9't. :. but whose tenure o.
| ere shali BE during Il e pleasure ot
he Beard And said Board shall
| pve the right to appoint and edic
ass clerlo9. managers. secretary ans
athe- employees Of the corporation
| g the interests and business OF the
same may require. And any OF tht
| Directors shall have the right to ap
eoint BY written instrument another
| Director as his proxy, to act in his
stead at any and al meetings Of thu
! Beard OF DiFes&oN.