St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1918-11-16

stock shall be made only on the
books of the company and under
such rules and regulations as its
Board of Directors may prescribe.
No stakeholder of this corporation
shall ever be held liable for any OF
its faults, debts, or obligations, be-
You'd the unpaid balance which. may
be due on account of his stock SUBJ
scription, nor shall informally in Or
ganization subject any stockholdcr
to any liability beyond such unpali
balance. The names, residences AMI
the number of shares held by each
of the subscribers are given in the
handwriting of each, or that Of his
attorney in fact. at the end of this
act. and the same shall serve as the
original list Of subscriptions to the
capital stock OF this corporation.
ARTICLE Nv.
All the corporate powers OF this
association shall be vested in its
Board Of Directors to be composed
of not less than ten nor more than
twenty, all of whom shall be citizens
of the United States, and majority
citizens of the State Of Louisiana.
The number necessary to form q
quorum shall not be less than one
third of the entire board. The first
Board of Directors of this corpora
ton shall consist Of the following OF
its stockholders, all of whom shall
hold office rs such until their sue
cessors have been elected and quail
ned:
-. Domergue. w. E. Morriss,
s. D. Bulloch, Harry Piguet, c. E.
Schonberg, l.. L. Morgan, Jacob Sell
or, Alfred Clements, Of Covington;
|Herman Levy, C. A. David, w. +.
Dinkins, Ernest Prieto, F. E. Vicks,
Of Vaudeville, La; H. N. Fendlason,
Folsom, La; John =. Rauscn, Aoita
Springs. La; A. u. Crawford, Pearl
River, La; J. Monroe Simmons, Gov
ington, La.
The members of all subsequent
boards shall be elected by the stock
holders, annually, on the second
Tuesday Of January of eacn year.
All such elections shall be by ballot
and conducted at the principal otnc
Of the corporation, under the supe4.-
vision of three commissioners ap-
pointed by the Board Of Directors for
that purpose. Notice of any SUCH
election shall be given publication,
in a newspaper regularly ISSUED in
St. Tammany parish, not less than
ten days prior to such eleclloii.
Each stakeholder shall be entitled to
one vote for each share OF stock
standing in his or her name on the
books of the corporation, to be cast
ir person or by written proxy. A
majority of the votes so cast snail
elect. Any vacancy on the Boarl OF
Directors occurring by death, resig-
nation, or otherwise, shall be flied
for the remainder of the term so va
Gated by the remaining directors.
Any failure to elect directors annual
~ shall not dissolve the corporation,
out the directors then in Office shall
continue to serve until their sue
lessons shall have been elected and
Qualified. The board of directors
named in this charter shall elect a
resident, one or more vice-presi-
tents, a cashier and such officers and
employees as they may deem neces-
AIRY. Each succeeding board of di-
.ectors shall do the same Immediate
" after having qualified as such.
The board of directors is empowered
to appoint from it's members such
committees as it may deem proper,
and to vest them with any of it's
powers to be exercised when the
board is not in session, and subject
to any requirements which the board
may prescribe. All Of the officers,
employees and committees shall hold
oface at the pleasure Of the board Of