St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1920-07-10


and esta blish bylaws, rules and reg
ulations, for the proper manage
ment and regulation Of its affairs, as
may be deemed necessary and proper
and the same to change aGd alter at
pleasure, and do, all other acts and
things permitted by law, or as saal
be necessary and proper to carry out
the objects and purposes Of said cor
poration.
Said corporation, unless sooner
dissolved, in accordance with Its
charter, shall exist and continue for
a period of ninety-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 1t are hereby declared
to be, the manufacture, buying and
selling of paint, turpentine, tar, ros-
in, pitch, medicinal oils, disinfect-
ants, and all wood derivatives and
their by-products, to clear lana OF
stumps, to operate saw, single and
planning mills, and generally to en-
gage in any business incidenta: to
or connected with the operation OF
the business above mentioned.
ARTICLE III.
The capital stock of this corpora
ton is hereby fixed at the sum of
Twenty-Five Thousand ($25, 100000
Dollars, divided into two hundred
and fifty (250) shares OF the par
value of One Hundred ($10O) Dol
lars, each, provided, that the amount
to which the capital stock of this
| corporation may be increased, shall
be Fifty Thousand (s50,00O.00) Dol
lars.
Which stock may be issued at not
less than par, for cash, at the time
1t is subscribed for, or at such tine
as may be deemed proper by the
Board of Directors, provided that
said stock shall be paid fol. in full
within twelve months after same
shall have been subscribed for, or in
payment or exchange for property Of
rights actually received or purchased
by said corporation, provided that al
stock certificates shall be signed b1
the President and Secretary of tht
corporation and no. stock shall be
Issued unless the consideration there
for has been received by said cor
Iporation.
| All transfers Of stock shall b.
made on the books Of said company
at its office, on the surrender Of thu
certificate therefor.
ARTICLE w.
The corporate powers Of this cor
Iporation shall be vested IN and OK
ercised by Board of Directors
which shall consist of three stock
holders, two of whom shall consti
ltute a quorum for the transaction
of business. Said Directors shall b
elected annually from among III
stockholders on the second Monda
| in June of each year, commencin
on the second Monday of June, 1920
as provided by law.
Within one week of thor election
as above provided for, the Board o
Directors shall elect from anon
their number a President, a Wee
President and Secretary and Treas
urer, provided that one person ma
hold the office of both Secretary an
Treasurer, and all of said officer
and directors shall hold their re
spective offices for period Of ON
year from the date Of their elect.or
and until their SUCCESSORS are elect
ed and qualified. But the failur
to hold an annual election, or t
! elect the officers as above provide
. . for, shall not result in dissolutio
~ to h,1f
Board of Directors and officers sha
hold their offices until their success:
ors are duly elected and qualified.
: Any vacancies occurring in aa1
Board of Directors shall be filled b
y the remaining members Of the board
: for the unexpired tearm, ct NEE
' ing called for that purpose after Nv
:. 90 days notice, in writing, sent b
mail to said directors at their Las
known residence.
The first Board of Directors {
> this corporation are hereby declare
!. to be:
Henry B. Pruden, Covington, La
: Harvey E. Ellis, Covington, La
Ernest Dietz, Covington, La,
: with Henry B. Pruden as presiden
Harvey E. Ellis as v1ce-pre5ident an
Ernest Dietz as secretary-treasure
who shall hold their respective o
fee until the second Monday
June, 1921, or until their successor
are elected and qualified.
ARTICLE V.
No stakeholder shall be held lab
u or responsible for the contracts {
o faults of this corporation in any fu
Their sum than the unpaid balant
due the company on shares of stoc
Iowned by him nor shall any info
mality in the organization here
have the effect Of rendering tn
lcharter null, or Of exposing an
!, stakeholder to any liability beyor
the unpaid balance due on his stocl
ARTICLE VI.
Il The appearers hereby declare tn:
u they have subscribed to the folloN
ing number of shares Of the capt.
stock of this company, to-wit:
Henry B. Pruden, ..... loo shar'
y Harvey E. Ellis, ...... l shar'
l. Ernest Dietz, ......... so sh2r'
Annexed hereto and read in CO
= nection herewith is a list ofscerta
: property and rights to be received /
J. this corporation in payment for Il
?, subscription of Henry B. Pruden Fl
J. one hundred shares, Harvey E. Ell
l. for one share, and Ernest Dietz 4
l. fifty shares of the capital stock
I this corporation.