St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1919-12-06

4
Said corporation, unless sooner
dissolved, in accordance with its
charter, shall exist and continue for
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 con-
duct a general mercantile business;
| buying ana selling goods and m7r-
| chandise of all kinds; to own tram
roads and other means of transpoT-
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
ton is hereby fixed at the sum ot
sixty-four thousand nine hundred
($64,9OO) dollars, divided into six
hundred and forty-nine (649l
shares of the par value of one hun
dred ($1O0) dollars each, provided,
that the amount to which the CAPT
tai stock of this corporation may be
increased shall be one hundred
thousand ($1OO,00) dollars.
Which stock may be issued at not
less than par for cash, at the time
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 Secr2-
tary of said corporation and no stock
shall be issued unless the considera-
tion therefor has been received by
Isaid 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 eA-
ercised by aboard of Directors,
which shall consist Of seven stock
holders, a majority of four Cd 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 a Pres!-
dent, a Vice-President and Serce-
tary-Treasurer, provided that one
person may hold the office of botl
Secretary and Treasurer, and all OF
lsaid officers and directors shall hold
their respective Offices for perio I
of one year from the date of their
election, or until their successors are
elected and qualified. But the fait-
ure to hold an annual election, or to
elect the officers as above provide
for, shall not result in a dissolution
of this corporation, but the th5ll
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 meeting
called for that purpose after five (7l
days notice in writing, sent by NAL
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 prope"
management and conduct of the :
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 fort 1
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
and agents of this corporation.
| The first Board of Directors Of this
corporation are hereby declared to
be:
Everett Alonzo Crawford. Ellis
Alphonso Crawford, Clarence Percel
Crawford, Thomas C. Craddock, Nor
4 IS Craddock, Robert Blackwell, Mrs.
Mary Palmer Crawford.
4 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.
l. No stakeholder shall be held liable
or responsible for the contracts Or
faults of this corporation in any fur
Their sum than the unpaid balance
/ following as my report as Elemen-
! tary School Supervisor for the month