St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1920-05-15
I.

agreements and stlpulations follow
ing, to-Wtt:
ARTICLE I.
The name and style OF this cor
poration shall be the 1.-THE Peters
Rice Farm Company, Incorporated
and under that name it shall have
and enjoy all rights and privileges
granted by law to corporations; II
shall exist for a period Of ninety
nine years from this day; it shall
have power to contract, sue and be
sued in its corporate name; to make
and use corporate seal and the
same to alter at pleasure; to hold,
receive, purchase, convey, mortgage.
hypothecate or pledge property, both
real and personal; to issue bonds.
notes and other obligations; to havo
and employ such managers, direct
ors, officers, agents and other en-
ployees as the interests and convent
ence of said corporation may ia
quire; to make and establish such
bylaws, rules and regulations for
| the porper management and control
of the affairs of the corporation as
may be reasonable and expedient.
ARTICLE II.
The domicile of said corporation
shall be at Madisonville, Parish OF
St. Tammany, State OF Louisiana; all
citations and other legal process
shall be served on the President,
and in his absence on the Vice-Presi-
dent, and in the absence OF both on
the Secretary-Treasurer.
ARTICLE III.
The objects and purposes foe
which this corporation is establish
ed, and the nature Of the business to
be carried on by it, are hereby de-
clared to be:
To produce rice and other agri-
cultural products, as well as the mill
ing of said products to make thom
suitable for market purposes, stock
raising, and generally to do and per-
form any and all acts and things
pertaining to the business above
enumerated, connected Herewith or
arising therefrom, in this State and
elsewhere.
ARTICLE ".
The capital stock of this corora-
ton is hereby fixed at the sum ii
Seven Thousand $4,000 Dollars,
divided into and represented Ivy
seventy (7O) shares OF the par value
of One Hundred ($100) Dollars
each, which shall be paid for in cash
when subscribed, or by the purchase
Of property as said Board may elect
all of which shall be common stock
That this corporation shall be g
going concern when all Of the capt
tai stock is actually paid for. AL
shares shall be full paid and non
assessable, which capital stock ma,
be increased to a sum not to excee-
Fifteen Thousand ($15,000} Dollars
at the PLEASURE of the Board of D.
rectors, in which event, during the
period between the call for the meet
Ing for such increase and the meet
ing, the person holding stock at thu
time shall have the right to TAX
shares of the additional or increase
, ed stock, proportionate to the mum
Der of shares owned by him, and an!
shares not taken at the expiration O
said period may be disposed of b.
the Board of Directors, for the bene
, fit of the corporation, at not les
than their par value. No transfe
Of stock shall be binding upon lh'
corporation unless recorded upon tn
books.
ARTICLE V.
, All the corporate powers of thi
corporation and the management
and control of it's affairs shall b.
vested in and exercised by q Boart
, Of Directors, composed Of seven q
, stockholders, a two-thirds majorlt
, Of whom shall constitute quorum
for the transaction of the businas
/ of the corporation. The Director
shall be elected annually by ballo
by the stockholders, on the thirt
Monday OF May of each year. Eacl
stakeholder shall be entitled in PEI
son or by proxy, to a vote for ever,
share owned by him, and all elac
tions shall be held under such rule
and regulations as may be detern,in
! ed by the Board of Directors; tn
e Directors thus elected shall continu
in office for one year, or until thei
successors have been duly electe
: and qualified. No failure to cleo
Y shall be regarded as a forfeiture o
q this charter. Any vacancy occurfn
on said Board shall be filled by th
remaining Directors for the unex
PRED term.
The Board Of Directors shall, a
Its first meeting after ita election
nominate out of It's number q Pres
dent, Viee-President and a Secre
tary-Treasurer;' said Board cha
= have the right to appoint and di.
miss clerks, managers and other en-
ployeea of the corporation as the IL
terests and business of the sam
h may require. Any of the Directo.
shall have the right to appoint, b
. written instrument, another Directo
c as his proxy, to act in his stead a
i any and all meetings OF the Boar
@ Of Directors.
ARTICLE vi.
Until the election of officers to b
: held on the third Monday OF Ma,
= 1921, the following named person
6 shall constitute the first Board {
e Directors, viz:
! Andrew Peter, postoffice Madison
9 Vile, Louisiana.
Q Barbara Currow, postofice Mad
d sonville, Louisiana.
}. Anthony A. Peter, postoffice Mad
o sonVille, Louisiana.
y Joseph A. Peter, postofice Mad
n sonyille, Louisiana.