St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1918-02-09


time shall have the right to take
shares OF the additional or increas-
ed stock, proportionate to the num-
mer Of shares owned by them, and
any shares not taken at the exp1ra-
ton of said period may be disposed
OF by the said Board of Directors,
for the benefit of the corporation at
not less than their par value. Nc
transfer Of stock shall be binding
upon the corporation unless record
ed upon the books.
ARTICLE V.
All the corporate powers Of this
corporation and the management
and control of its affairs shall be
vested on and exercised by Board
Of Directors composed Of four ca
stockholders, majority of whom
shall constitute a quorum for the
transaction of all of the business
The Directors shall be elected an
nually by ballot by the stockhold-
ers, on the second Tuesday in De
cember Of each year. Each person
shall be entitled in person or by
proxy te~a vote for every share own
ed by him, and all elections shall he
held under such rules and regula-
lions as may be determined by the
Board of Directors. the, Directors
thus elected shall continue In office
for one year or until theis successors
have been duly elected and qualified
No failure to elect shall be regarded
as a forfeiture Of this charter. Any
vacancy occurring on said Board
shall be filled by the remaining pi.
rectors for the unexpired term.
The Board of Direc rs shall, a
its first meeting after its election
nominate out OF its number Presi-
dent, Vice President ard a Secre.
tary-Treasurer; said Board shal
have the right to divide the office Of
Secretary and Treasurer and may
elect Secretary who reed not be q
stockholder, but whose tenure Of
office shall be during tie pleasure o.
the Board. And said Board shat
have the right to appoint and dis
miss clerks, managers. secretary ant
other employees of the corporation
as the interests and business Of tht
same may require And any Of tht
Directors shall have tho right to ap
point by written instrument another
Director as his proxy. to act in hi
stead at any and all meetings OF thu
Board OF Directors.
ARTICLE VI.
Until the election to be held OF
the second Tuesday In December
1918, the following named person
shall constitute the first Board o
Directors: G. F. Mason, trustee
residence New Orleans, Louisiana
w A. Hood, residence Onville, Lou
isiana; H. B. Collins, residence Pin'
Burr, Mississippi; J. w. York, resi-
dence Onville, Louisiana; which sait
G. F. Mason, trustee, shall be Presi
dent; J. w. York, Vice President
and H. B. Collins, Secretary-Treas
urer.
ARTICLE VII.
No stakeholder shall be liable 0
responsible for the contracts, fault
and debts of said corporation, no
shall any mere informally in it's or
ganization have the effect of render
ing this charter null or Of exposin;
stakeholder to any liability be
yond the unpaid balance due on tn
shares owned by him.
ARTICLE VIII.
This act of incorporation may b
changed, modified or altered, or thi
corporation may be dissolved wit
the assent of the stockholders own
ing tWo-thirds OF the stock of tn
corporation lat general meetin:
convened for that purpose and ate
at least fifteen (15) days writer
notice of this meeting having beel
given through mail addressed t.
each shareholder at his last know
place of residence
In case of dissolution by the Ok
piration of this charter or otherwise
the stockholders shall elect two q
liquidators from among their mum
her, to liquidate and settle the bust
ness and affairs of the company.
In case of death or disability o
any Of said commissioners or HQul
dators, the survivors or the remain
ing liquidators shall appoint q sue
cessor to him.
Thus done and passed in my Of
fee on the day, month and year hrs
above written, and in the pressnc
Of G. Boudousquie and c. Warren
competent witnesses. who have sign
ed with said appearers and me, sal,
Notary, after reading Of the whole.
W. A. HOOD,
Onville, La.
.M. H. B. COLLINS,
Pine Burr, Miss.
J. w. YORK,
Onville, La.
G. F. MASON, Trustee,
New Orleans, La.
Witnesses:
C. BoUDoUsQUIE.
C. WARREN.
THOS. M. BURNS.
Notary Public.
A true copy.
THOS. M. BURNS,
Notary Public
State of Louisiana, !
Parish OF St. Tammany. (
l certify that this instrument was
filed for record January IA, 1918, al
3 p. M. Recorded January 14th
1913, in Charter Book l, pgas 1876
of the official records.