St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1919-12-20


tons for the proper management
and regulation of it's affairs, as may
be deemed necessary and proper,
and the same to change and alter at
pleasure; and to do all other acts and
things permitted by law, or as shall
be necessary and proper to carry out
the objects and purposes of said co.,
poration.
Said corporation, unless sooner
dissolved, in accordance with It's
charter, shall exist and continue for
a period of ninenty-nine years from
and after the date hereof.
ARTICLE II.
The objects and purposes for
which this corporation is organized,
and the nature of the business to be
carried on by it, are hereby declared
to be:
To buy, lease and sell lands and
timber; to operate and maintain saw
mills, planning mills, and to do the
general saw mill business, including
piling and all other kinds of wood
products; to operate turpentine ami
retort plants. to operate and coa-
duct a general mercantile business;
buying ana 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 ca pital stock of this corpora
ton is hereby fixed at the sum Of
sixty-four thousand nine hundred
($64,9O0) dollars, divided into six
hundred and forty-nine CAD
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 ($1OO,OO) dollars.
Which stock may be issued at not
less than par for cash, at the tina
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 Secre-
'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 Nv.
The corporate powers of this cor
poration shall be vested in and e&-
ercised by Board Of Directors,
which shall consist of seven stock
holders, "a majority of four (4) OF
whom, shall constitute a 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 a Pres!-
dent, Vice-President and Serce-
tary-Treasurer, provided that one
person may hold the office of botl
Secretary and Treasurer, and all Of
their respective offices for a perio
Of one year from the date of their
election, or until their successors are
elected and qualified. But the fail
ure to hold an annual election, or to
elect the officers as above provided
for, shall not result in dissolution
Of this corporation, but the than
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 81
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 a..
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 forth
genergally 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
nd agents of this corporation.
The first Board of Directors Of this
corporation are hereby declared to
5e:
Everett Alonzo Crawford. Ellis
I9honso Crawford, Clarence Percel
Crawford, Thomas c. Craddock, Nor
rs Craddock, Robert Blackwell, Mrs.
Mary Palmer Crawford.
With Everett Alonzo Crawford as
president and general manager;
Clarence Percel Crawford, vice-pres-
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 AMI
qualified.
ARTICLE V.
No stakeholder shall be held liable
or responsible for the contracts Or