St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1920-07-24

Hundred ($100) Dollars each, pay,
able in cash, or in property or ser.
vices actually received by the cor
poration, at such times as may be
determined by the Board of Di-
rectors.
The capital stock of this corpora
ton may be increased to the sum OF
One Hundred Thousand ($100, O00)
Dollars.
The corporation is to be a gong
concern as soon as Twenty-Five
Thousand (S25, 000) Dollars Of the
capital stock shall have been sub
scribed for and paid in.
All transfers of stock of this cor
poration shall be entered in the
stock book and no transfer of stock
shall be, in any manner, binding on
this corporation unless registered in
its stock book.
ARTICLE w.
The corporate powers of this cor
poration shall be vested in and ex-
ereised by Board of Directors CT
not less tain three nor more than
seven, of which a quorum shall be
three directors for the transaction
of business, and their decisions shall
be valid corporate acts.
The first Board of Directors of this
corporation shall be:
Theodore Dendinger, Jr., Presi-
dent, Madisonville, La; John II.
Menge, Vice-president, New Orleans.
La; w. j. Hermann, Secretary.
Treasurer, Madisonville, La; Joseph
H. CORY, New Orleans, La; Jonn
d. Miller, New Orleans, La.
No person shall be eligible as a
director or an officer who is not a
stakeholder of this corporation.
During the absence of the Pres:-
dent the. Vice-President shall act and
preside.
Said Board shall continue in Office
until the second Monday In June,
1921, on which date and thereafter
annually, Board of Directors shall
be elected on the second Monday of
June of each year, unless the same
shall be a legal hobby, when the
election shall be on the next legal
day thereafter.
Notice of such election shall bes
given by letter to be written ten days
previous to said election and sent by
mail prepaid to the last known ad-
dress of each of the stockholders,
and the Board of Directors shall ap-
nn'nt cfn hoI 10
preside at such election as commits
sioners. In the event of the failure
Of any commissioner or commission.
ers to attend, the President shall, by
appointment, fill the vacancy. A
failure from any cause whatsoever to
elect directors on the day named for
that purpose shall not dissolve the
corporation, but the directors then
in office, as well as the officers of
said corporation, shall hold over I'M
til successors are chosen.
In such event, the President shall
cause another election to be held
within thirty days and shall give
notice thereof as hereinahoye pro-
vided.
At every election and meeting
each stakeholder shall be entitled to
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 the majority in
amount of votes cast, each share of
stock voted upon to be counted for
one vote, shall elect the person or
persons for whom they have been
cast.
After each election the board of
directors shall elect from their own
number the officers of said company.
ARTICLE v.
The board of directors shall have
full power to fill vacancies in their
number caused by death, resignation
Or otherwise, from the stockholders
Of the corporation.
The said board Of directors shall
have full control Of the property of
this company, and shall so conduct,
and use the same as in their
discretion they deem fit, and as is
consistent with the objects of this
or the welfare of the same.
The said board of directors is fur