St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1920-02-21

or dispose of, at wholesale or retail,
either for it's own account or for a.
count Of others, all kinds of building
and construction material, such as
| lumber, laths, shells, gravel, lime,
stone, cement, and such other ma
terial or merchandise usually carried
in such line Of business; to engage
generally in the contracting, building
| and construction business, and for
that purpose to contract for the orec-
ton, construction and maintenance
of buildings, bridges, roads and
highways; and also to engage gen
orally in the manufacturing Dus!-
ness and to manufacture all kinds of
| building and road matedial by crush
| ing or otherwise treating shells and
gravels, so as to make the asme suit
able for commercial purpo ses; and
generally to do such ether thing or
| things and to conduct such other
business or businesses, either for its
own account or as agents for others,
as may be found necessary or con-
| venient properly to effectuate tn !,
aforesaid purposes or to enhance
the prosperity and the value of the
properties, rights and privileges Of
this corporation.
ARTICLE IV.-The capital stock
of this corporation is hereby fixed at
the sum of fifteen thousand do lars
($15, O00), divided into, and repre-
scented by, one hunded and fifty
shares, of one hundred (S100) dol
lars each. Said stock shall be pal
for in cash or it's equivalent as pro-
vided by law, and in such manner
and at such time and in such install
ments as may be prescribed by the
Board of Directors. The capital
stock may be increased to fifty
thousand ($50,000) dollars, to De
represented by five hundred shares
at one hundred ($100) dollars ash.
All stock of this corporation shall
be full paid ana worcestershire, a1d
shall be represented by certificates Of
such form as the Board of Directors
may determine, signed by the PIesi-
dent or Vice-President and the Secre
tary-Treasurer, and sealed with the
seal of the corporation.
ARTICLE V.-The stock Of this
corporation may be transferred only
on the books of the corporation, and
subject to such regulations and for
malities as may be prescribed from
time to time by the Board of Di
rectors. No stockholder shall be
| permitted to sell, or otherwise dis
pose of his stock without first Offer
ing the same in writing to the other
stockholders, through ths Board of
Directors, at price no. exceeding
the book value thereof, and the
stockholders shall have an option
and first right to purchase for cash
all the shares of stock to be thus
disposed of by sale Or by he death,
the stockholders of the corporation,
and shall have period Of ten days
within which to accept or to decline
such offsr of stock.
| Upon the failure of said Beard CT
| Directors or the stockholders to ex
ercise within the time stipulated the
option thus granted them, the stock
| holder who desires to sal Or other
wise dispose of his sto * Tor his
heirs) shall be at liberty to sell Or
| otherwise dispose Of his said stock
| in any such manner and at such
price as he or they may see fit. But
| the stock of this corporation shall be
tnon-negotiable and non-transferrable
except under the conditions and slip
| ulations hereinabove set forth, and
no transfer of stock whatsoever shall
be binding upon this corporation un-
til and unless made upon its books.
| ARTICLE VI. The corporate
powers of this corporation shall be
vested in, and exercised by, q Board
of Directors composed Of not less
than three nor more than five stock
holders, two of whom at all times
shall constitute a QUORUM for the
transaction of business. The Di-
rectors of this corporation may vote
| in person or by written pToXg at any
of the meetings of the Board Ct Di-
rectors.
The first Board of Directors of This
| company shall be composed of the
following:
Emilio Cue, Bay St. Louis, Miss.
Curtis L. Waller, Bly, St. Louis,
Miss.
Herbert S. We'll, New Orleans, La.
These Directors shall serye until
| the second Monday in November,
1920, or until their successors shall
have been elected and qualified. Tie
Directors shall be elected annually
| by the stockholders at meeting CT
stockholders, to be held on the first
Monday in November each yea.
Notice of such meeting shall be given
| fifteen days prior to the date thereof
in writing, and shall be sent &c each
stakeholder at his last kno vn dd-
dress. Each stakeholder ra!i at
such annual meeting Or )ther eet-
ing, general or special, be entitled
in person or by proxy to one vote
| for each share of stock who'd by
him. Elections shall be nell VI Ger
such rules and regulations es may,
from time to time, be prescribed by
the Board Of Directors.
The Directors, when elected. shall
hold office for one yea, or until their
successors shall have been elected
and qualified, and ia lure to nold the
annual meeting of stockholders or to
elect annually the Directors shall
not operate the forfeiture Of this
charter or any Of its rights there
under. Any vacancy occurring in
the Board of Directors may be filled
by the remaining Directors for tie
unexpired term.
Immediately after their election
each wear tho Dirartors shall mo,t