St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1919-10-04


vessels, to acquire, own and operate
and to charter or lease, and to sell
vessels of every description; to con-
struct end operate docks, wharves
and warehouses; to buy, have, own,
and sell steel, iron and ore; to hold,
receive, hire, purchase, lease, SUBJ
lease, sell, convey or exchange prop
erty, both real and personal, and to
mortgage and hypothecate the same:
to borrow or lend money; to appoint
managers, officers, agents and en-
ployees in the State of Louisiana and
other States, as it's interests may re-
quire; to do and perform all other
things requisite, necessary or con-
venient to enable it to carry out the
objects and purposes above set forth.
ARTICLE III.
The capital stock of said corpora
ton snail be Twenty Thousand
($2O,O0O) Dollars, divided into and
represented by Four Hundred (400)
shares of the sum of Fifty $500
Dollars each, which said stock shall
be paid for in cash at the time OF
subscription, or the same may bs
issued, at not less than par, in pay
ment or exchange for property or
rights actually received or purchased
by said corporation, or the same may
be issued, full paid, for money ad-
vanced, and for such other valuable
considerations or services as tbs
board of directors of said corpora
ton may determine; provided, that
no stock shall be issued until the
consideration therefor has been re-
ceiVed by the said corporation.
Any stockholder may sell, assign
or transfer his stock in this eorpors-
ton, provided thirty 900 days prior
notice of such intention to sell, as
sign or transfer the same be given
the company, and the other stock
holders thereof shall have first privi-
lege Of purchasing same, after which
thirty 1907 days notice, the said
stock may be sold in open market.
The capital stock of this corpora
ton shall be worcestershire, and may
be transferred under the above con-
ditions; provided, such transfer
thereof be made on the. books of said
company at it's office, at Covingtor.
Louisiana, and on surrender of the
certificate therefor. No transfer of
any fractional part Of share shall
be made.
This corporation siell cor.ma.ce
CO ing Lusiress as soon as Five
Thousand (s5,000.u0) Dollars of its
capital stock shall have been sub
scribed for.
The Board of Directors shall 1aye
the right to determine how mich
stock shall be issued.
ARTICLE w.
The corporate powers of this cor
poration 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
the stockholders on the first Tues
day of October in each and every |
ySdI, annual uISSUII6 VI VIC
stockholders shall be held at the Of
fee of the company, in Covington,
Louisiana, of which meeting notice |
shall Oe given at least fifteen (15) |
days continuous publication imme- |
diately preceding such election in |
paper published in the Town of Gov
,ngton, 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-
Stltute 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 ca members of the |
board shall constitute quorum for |
he transaction Of business and their |
decisions shall be vailed corporate |
acts.
At each annual meeting of the |
Board Of Directors, held on the first |
Tuesday of October, 1919. and an
nually thereafter, the said board |
shall elect from among its number a |
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
fcers of this corporation, to-Wit: |
J ohm P Rausch, president and treas
urer; E. J. Domergue, vice+presi- |
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 600 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 |
stockholder shall be entitled to one |
vote for each share Of stock register |
ed in bis name, and may vote by |
proxy The election of directors