St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1920-07-03

ment and regulation of its affairs, as
may be deemed necessary and proper
and the same to change and alter at
pleasure, and do all other acts and
things permitted by law, or as shall
be necessary and proper to carry out
the objects and purposes of said cor
poration.
Said corporation, unless sooner
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 it 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 land or
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, O00.00)
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 $3.50, 000.0O) Dol
lars.
Which stock may be issued at not
less than par, for cash, at the time
it Is subscribed for, or at such tine
as may be deemed prefer by the
Board of Directors, provided that
said stock shall be paid for in full
within twelve months after same
shall have been subscribed for, or in
payment or exchange for property or
rights actually received or purchased
by sad corporation, provided that all
stock certificates shall be signed by
the President and Secretary Of the
corporation and no stock shall be
issued unless the consideration there
for has been received by said cor
poration.
All transfers of stock shall be
made on the books Of said company,
at its Office, on the surrender of the
certificate therefor.
ARTICLE w.
The corporate powers Of this cor
poratfon shall be vested IN and OK
ercised by a Board Of Directors,
which shall consist Of three stock
holders, two of whom shall consti.
tute a quorum for the transaction
Of business. Said Directors shall be
elected annually from among the
stockholders on the SECOND Monday
in June of each year, commencing
on the second Monday Of June, 1920.
as provided by law.
Within one week Of thor election
as above provided for, the Board OF
Directors shall elect from among
their number a President, a Vice
President and a Secretary and Treas
urer, provided that one person NAV
hold the Office Of both Secretary and
Treasurer, and all of said officers
and directors shall hold their re-
spective Offices for period Of one
year from the date Of their election
and until their successors are elect
ed and qualified. But the failure
to hold an annual election, or tc
elect the officers as above provided
for, shall not result in a dissolution
of this corporation, but the then
Board Of Directors and officers shall
hold their Offices until their success
ors are duly elected and qualified.
Any vacancies occurring in aa1d
| Board of Directors shall be filed by
the remaining members of the board
for the unexpired tearm, at meet
| ing called for that purpose after five
90 days notice, in writing, sent BY
mail to said directors at their las'
known residence.
The first Board of Directors Of
this corporation are hereby declared
to be:
Henry B. Pruden, Covington, La.
Harvey E. Ellis, Covington, La.
Ernest Dietz, Covington, La,
with Henry B. Pruden as president
Harvey E. Ellis as vice-president ant
Ernest DietZ as secretary-treasurer
who shall hold their respective Of
fee until the second Monday ii
June, 1921, or until their successors
are elected and qualified.
| ARTICLE V.
| No stakeholder shall be held Liable
or responsible for the contracts o.
faults Of this corporation in any fur
Their sum than the unpaid balance
due the company on shares Of stocH
owned by him nor shall any infor
mality in the organization herein
have the effect Of rendering thi:
charter null, or Of exposing an,
stockholder to any liability beyond
the unpaid balance due on his stock
ARTICLE vi.
| The appearers hereby declare tina
they have subscribed to the follow
ing number of shares Of the capita
stock of this company, to-wit:
Henry B. Pruden, ..... 100 share
Harvey E. Ellis, ....... l share
Ernest Dietz, .....-... SO share!
Annexed hereto and read in con
nection herewith Is a list Of certain
property and rights to be received b!
this corporation in payment for tn
Subscription of Henry B. Pruden fol
one hundred shares, Harvey E. Ellis
for one share, and Ernest Dietz fol
fifty shares of the capital stock o
this corporation.
| Thus done and passed at my Of
fee in the town Of Covington, Lou
isiana, Parish Of St. Tammany, State