St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1919-09-27

the company, and the other stock
holders thereof shall have first priyi-
lege of purchasing same, after which
thirty 1909 days notice, the said
stock may be sold in open market.
The capital stock Of this corpora
ton shall be non-assessab BILE, and may
De transferred under the above con-
ditions; provided, such transfer
thereof be made on the books of said
company at it's office, at CovingtOI
Louisiana, and on surrender of the
certificate therefor. No transfer of
any fractional part of share shall
be made.
This CORPORATION 81 oil cor;ma..Ce
CT ing Llsiress as soon as Five
Thousand $5,000.U0) Dollars Of its
capital stock shall have been sub
scribed for.
The Board of Directors shall save
The right to determine how much
stock shall be issued.
ARTICLE w.
The corporate powers of this cor
poratio1 shall be vested in its Board
Of Directors, to be composed OF not
less than three nor more than four,
but may be fixed within those limits,
all Of whom, shall be stockholders of
this corporation. Said Board of Di-
rectors shall be elected annually by
he stockholders on the first Tues
day Of October in each and every
year, which annual meeting of the
stockholders shall be held at the Of
ice OF the company, in Covington,
Louisiana, Of which meeting notice
shall Oe given at least fifteen 15)
days continuous publication imme-
dlately preceding such election in a
paper published in the Town of Gov
ington, Louisiana, or by ten 10)
days written notice to each stock
holder. The first election hereunder
shall be held on the first Tuesday of
October, 1920, until which time the
following persons shall be and con-
stitute the Board Of Directors Of this
company, to-Wit: John P. Rausch,
Ernest j. Domergue and Harry A
Black. Any vacancy occurring in
the Board Of Directors during its
term Of office shall be filled by cleo
ton by the remaining members of
the board Two CD members of the
board shall constitute a quorum for
he transaction OF business and their
decisions shall be vailed corporate
acts.
At each annual meeting of the
Board CT Directors, held on the first
Tuesday OF October, 1919, and an
nually thereafter, the said board
ba1 70 hor q
president, who shall also be the
treasurer of said corporation; vice
president, a secretary and such other
officers as may be necessary, and the
said officers shall hold office for one
year, or until their successors are
elected. Until the first election, the
following are declared to be the Of
ficers of this corporation, to-wit:
John P Rausch, president and treas
urer; E. J. Domergue, vice4presi-
dent, and Harry A. Black, secretary.
Any failure from any cause what
ever to elect directors on the date
named for that purpose shall not
dissolve this corporation, but the di-
rectors then in office, as we'll as the
officers Of this company, shall hold
over until their successors are chos-
en-. In such event the president
shall cause another election to be
held in thirty 900 days, and shall
give notice thereof as above pro-
vided
During the absence Of the presi-
dent the vice-president shall act and
preside.
At every election and meeting each
stockh older shall be entitled to one
vote for each share of stock register
ed in his name, and may vote by
proxy. The election of directors
shall be by ballot, and a majority in
amount of votes cast, each share of
ock voted upon to be counted for
one vote, shall elect the person or
persons for whom they have been
cast.
ARTICLE v.
1t shall be lawful for the stock
holders Of this corporation, at a gen.
eral meeting convened for that pur-
pose, to make any notifications, ad-
ditions or changes in this act of in
corporation, or to dissolve it with
the assent of three-fourths Of the
stock represented at such meetings.
Notice Of such meeting shall be given
as prescribed in Article w hereof
for the election of directors.
ARTICLE vi.
No stockholders of this corpora
ton shall ever be held liable or re-
sponsible for the contracts or faults
thereof in any further sum than the
unpaid balance due the company on
the shares of stock subscribed for or
owned by him, nor shall any infor-
mality in organization have the effect
OF rendering this charter null, or OF
exposing a stakeholder to any liabili-
ty beyond the unpaid balance, II any
OF his stock.
ARTICLE VII.
In case of dissolution or termina-
ton of its charter or from any other
| cause, the liquidation of its affairs
shall Re conducted by three 90
| liquida.ors selected from the stock.
holders of the company by a maiori'
ty of the votes cast at a meeting
called fer that purpose after notice
shall have been given, as provided iI
Article w hereof for the election o.
directors Said liquidators shall re
main in Office until the affairs of the
said corporation have been fully
liquidated. In case of the death o.
one or more of said liquidators, the
survivor or survivors shall continue
to act.