St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1918-10-19

years lOEm IAAS O6y ~ 0AA0AA AessS
power to contract, sue and be sued In
its corporate name; to make and use
q 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 said
corporation may require; and to
make and establish such bylaws,
rules and regulations for the proper
management and control OF the al
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 1t, 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 bust
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 ($12.000.0O) Dol
lars, divided into and represented by
one hundred and twenty (12O0
shares of the par value Of One Hun
dred $4,000 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
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 q sum not to exceed
twenty-five Thousand ($25.OOO.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-
ed stock. proportionate to the mum
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-
rectora composed of three 90 stock
holders, q majority OF whom shall
constitute q quorum for the transac'
ton of all of the business. The Di'
rectors shall be elected annually BY
ballot by the stockholders. on the
third Monday in September OF eact
year. Each person shall be entitled
to q vote for every share owned D,
him, and all elections shall be hello
under such rules and regulations a!
may be- determined by the Board o.
Directors. The Directors thus elect
ed shall continue in Office for ont
year, or until their successors have
been duly elected and qualified. NJ
failure to elect shall be regarded al
a forfeiture of this charter. Any va
cancy occurring on said Board shall
be filled by the remaining Director
for the unexpired term.
The Board Of Directors shall, a
it's first meeting after its election
nominate out Of its number Presi
dent, a VicelPresident and q Secre
tary-Treasurer; said Board shall hav
the right to divide the office of Sec
rotary and Treasurer and may cleo
a Secretary who need not be stock
holder, but whose tenure OF ottlc
shall be during the pleasure OF tn
Board. And said Board shall hav
the right to appoint and dismiss tn
Clerks, Managera, Secretary an
other employees Of the corporation
as the interests and business OF tn
same may require. Any OF the ID
rectors shall have the rigth to ap
point by written instrument anothe
Director as his proxy. to act In hi
stead at any and all meetings o
the Board OF Directors.
ARTICLE WI.
Until the election OF officers to b
held on the third Monday in Sep
TENDER, 1919, the following name
persons shall constitute the frs
Board of Directors, viz: John !
Coney, postoffice Hazelhurst. Miss
jeremiah Cooley, postottice Onvill'
La, and Henry E. Coney, postofic
Onville, La, with said John T. Cone
as President, Jeremiah Cooley a
Vice-President, and Henry E. Cone
as Secretary-Treasurer.
ARTICLE VII.
No stakeholder shall be liable 9
responsible for the contracts. fault
or debts Of said corporation. nc