St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1920-02-14

ton, construction and maintenance
of buildings, bridges, roads and
highways; and also to engage gen
orally in the manufacturing Duss-
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 purposes; and
generally to do such other 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
of this corporation is hereby fixed at
the sum of fifteen thousand dollars
($15, O0O), divided into, and repre-
scented by, one hunded and fifty
shares, of one hundred ($10O) dol
lars each Said stock shall be pail
for in cash Or its equivalent as pro-
vided by law, and in sucn 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 ($10OD dollars each.
All stock of this corporation shall
be full paid and worcestershire, aad
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 aud for
malities as may be prescribed from
time to time by the Boae6 of Di-
rectors. No stockholder shall be
permitted to sell, or otherwise dis
pose Of his stock without frsr offer
ing the same in writing to the other
stockholders, through the Board Of
Directors, at a 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,
resignation or otherwise Of any of
the stockholders Of the corporation,
and shall have period Of ten days
within which to accept or to decline
such offer 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 sci or other
wise dispose of his stock 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
non-negotiable and non-t-dnSferTable
exce2t under the conditions and slip
ulahons hereinabove set forth, and
no transfer Of stock whatsoever shall
be binding upon this corporation I'M
til and unless made upon its books.
ARTICLE VI. The corporate
powers Of this corporation shall be
vested in, and exercised by, a 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 proxy at any
of the meetings of the Board Ct Di-
rectors.
The first Board of Directors of This
company shall be compos I'd OF the
following:
Emilio Cue, Bay st. Losis, Miss.
Curtis L. Waller, Bly, st. Louis,
Miss.
Herbert S. We'll, New Orleans, La.
These Directors shall se-ze 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 If
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 adj
dress. Each stakeholder ra!i at
such annual meeting pr other eet-
ing, general or special, BE- entitled
in person or by proxy to one vote
for each share of stock ,wnrd by
him. Elections shall be nel1 u Ger
such rules and regulations IS may,
from time to time, be prescribed by
the Board of Directors.
The Directors, when elected. shall
hold Office for one year, or until their
successors shall have been elected
and qualified, and ia ,ure to hold 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 year, the Directors shall meot
and select from their number a Pres
ident, a Vice-President and Secre-
taryTreasurer. The first officers Of
this corporation who shall hold Of
fee until the second Monday in No
vember, 1920, or until their success
ar cl, no al