St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1919-10-11
HE ST. TAMANY FARMER OCTOBER 1919

1
The capital stock of said corpora
ton shall be Twenty Thousand
($2O,000) Dollars, divided into and
represented by Four Hundred (400)
shares of the par value of Fifty (50)
Dollars each, which said stock shall
be paid for in cash, or the same may
be issued, at not less than par, in
payment or exchange for property or
rights actually received or purchased
by said corporation, or the same may
be issued, full paid, for nancy ad-
vanced, and for such other valuable
considerations or services as the
Board CT Directors of said corpora
ton may determine.
The capital stock of said corpora
ton maybe increased to a sum not
to exceed Two Hundred Thousand
($200.Q00) Dollars, at the pleasure
Of the Board of Directors, in which
event, during the period between the
call of the meeting for the purpose
of increasing the capital stock and
the meeting, the persons holding
stock at the time shall have the right
to take shares OF the additional or
! increased stock proportionate to the
number of shares owned by them,
and any shares not taken at the ex-
piration of such period may be dis
posed CT by the Board OF Directors
for the benefit of the stockholders at
not less than par value.
Any stakeholder may sell, assign
or transfer his stock in this corpora
tion, provided thirty 600 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 800 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 surrendering the
| certificate therefor. No transfer of
any fractional part of share shall |
be MADE.
This corporation shall be author.
lied to commence doing business as |
Dollars of the capital stock shall |
have been subscribed for. The stock |
subscribed for shall be paid upon |
call of the Board of Directors in such |
amounts and at such times as the |
said board shall prescribe, with at |
least ten days notice in writing to |
the subscribers.
ARTICLE ".
The corporate powers of this cor.
poratio1 shall be vested in it's Board
of Directors, to be composed OF not
less than three nor more than ten,
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
year, which annual meeting of the
stockholders shall be held at the Of
flee of the company, in Covington,
Louisiana, of which meeting notice {
shall Oe given at least fifteen 15) II
days continuous publication imme-
diately preceding such election in a
paper published in the Town of Gov
lngton, Louisiana, or by ten (1O)
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 s
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 n
the Board of Directors during its {
term of office shall be filled by cleo s
ton by the remaining members of t
the board.
A majority of the members of the I
board shall constitute a quorum for I
the transaction of business and their s
decisions shall be valid corporate !
acts.
At each annual meeting of the
Board Of Directors, held on the first II
Tuesday of October, 1919, and an s
nually thereafter, the said board r
shall elect from among its number }
who may also be the
treasurer Of said corporation; vice t
president, a secretary and such other
officers as may be necessary, and the t
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. ]. Domergue, vice4presi-
dent, and Harry A. Black, secretary. f
Amy failure from any cause what c
ever to elect directors on the date
named for that purpose shall not
dissolve this corporation, but the di-
rectors then in office, as well as the
officers of this company, shall hold
over until their successors are chos- f
en-. In such event the president q
shall cause another election to be r
held in thirty 600 days, and shall
give notice thereof as above pro-
vided.
During the absence of the presi- s
dent the vice-president shall act and
preside.
At every election and meeting each b
stockh0lder 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 t
amount of votes cast, each share of il
stock voted upon to be counted for A
one vote, shall elect the person or