St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1919-11-29

mortgage on mans independence.
You will have to excuse me now,
| as I have an engagement to elope.
duct a general mercantile business:
buying and selling goods and mer-
chandise of all kinds; to own tram
roads and other means of transpor-
tation, and in general to engage in
any business incidental to or con-
nected with the operation of the
business above mentioned.
ARTICLE III.
The capital stock of this corpora
tion is hereby fixed at the sum Of
sixty-four thousand nine hundred
($64,900) dollars, divided into six
hundred and forty-nine (649)
shares Of the par value of one hun
dred ($100) dollars each, provided,
that the amount to which the CAPT
tai stock of this corporation may be
increased shall be one hundred
thousand ($100,00) dollars.
| Which stock may be issued at not
less than par for cash, at the tima
it is subscribed for, or at such time
as may be deemed proper by the
Board of Directors, provided that
said stock shall be paid for in full
within twelve months after same
shall have been subscribed for, or in
payment or exchange for property
or rights actually received or pur-
chased by said corporation provided
that all stock certificates shall be
signed by the President and Secr3-
tary of said corporation and no stock
shall be issued unless the considera-
tion therefor has been received by
said corporation.
All transfers of stock shall be
made on the books Of said company
at it's office, on the surrender of the
certificate therefor.
ARTICLE w.
The corporate powers of this cor
poration shall be vested in and ex-
ercised by a Board of Directors,
which shall consist Of seven stock
holders, majority of four (4) OF
whom shall constitute quorum for
the transaction of business. Said
directors shall be elected annually
from among the stockholders on the
second Monday in January of each
year, commencing ON the second
Monday in 1921, as provided by law.
At said election as above provided,
the Board of Directors shall elect
from among their number PreSi-
dent, a Vice-President and Serce-
tary-Treasurer, provided that one
person may hold the Office of botl
Secretary and Treasurer, and all Of
said officers and directors shall hold
their respective Offices for perioi
of one year from the date of their
election, or until their successors are
elected and qualified. But the fall
ure to hold an annual election, or to
elect the officers as above provided
for, shall not result in a dissolution
of this corporation, but the then
Board Of Directors and officers shall
hold their Offices until. their success
ors are duly elected and qualified.
Any vacancy occurring in sail
Board of Directors shall be filled by
the remaining members of the board
for the unexpired term at a meeting
called for that purpose after five (5l
days notice in writing, sent by mail
to said directors at their last known
residence.
The said Board of Directors shall
have the power to make all bylaws.
rules and regulations for the proper
and conduct Of the az
fairs of this corporation, and to
change, alter, abolish and amend at
pleasure, and shall have and exercise
all the powers conferred by law on
this corporation, and as set fort1
above.
The said Board of Directors may
also delegate any Of said powers in
the transaction of the business OF
this corporation to committees OF
their own body, or to the officers
and agents of this corporation.
The first Board of Directors of this
are hereby declared to
be:
Everett Alonzo Crawford, Ellis
Alphonso Crawford, Clarence Percel
Thomas c. Craddock, Nor
ris Craddock, Robert Blackwell, Mrs.
Mary Palmer Crawford.
With Everett A1onzo Crawford as
president and general manager;
Clarence Percel Crawford, vice-presi-
dent, and Ellis Alphonso Crawford
as secretary-treasurer, who shall
hold their respective offices until the.
second Monday in January, 1921, CT
until their successors are elected and
qualified.
ARTICLE v.
No stockholder shall be held liable
or responsible for the contracts or
faults of this corporation in any fur
ther sum than the unpaid balance
(Gsntinued On page 81