St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1920-06-26

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 ($100,000)
Dollars.
The corporation is to be gong
concern as soon as Twenty-Five
Thousand ($25,OOO) 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
it's stock book.
ARTICLE Nv.
The corporate powers of this cor
poration shall be vested in and ex-
ercised by>a Board of Directors CT
| not less tain three nor more than
seven, of which 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., Pres'-
dent, jacksonville, La; John II.
Menge, Vice-president, New Orleans.
La; w. j. Hermann, Secretary
Treasurer, Madisonville, La; Joseph
II. 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, a Board of Directors sha?l
be elected on the second Monday OF
June of each year, unless the same
shall be legal hobby, when the
election shall be on the next legal
day thereafter.
| Notice of such election shall be
given by letter to be written ten days
previous to said election and sent BY
mail prepaid to the last known adj
dress of each of the stockholders
and the Board of Directors shall ap'
point one or more stockholders tt
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 tt
elect directors on the day named fo1
that purpose shall not dissolve the
corporation, but the directors theI
in office, as well as the officers C
said corporation, shall hold over I'm
til successors are chosen.
In such event, the President shall
cause another election TO be hell
within thirty days and shall Civ
notice thereof as hereinahove pro
vided
At every election and meeting
each stakeholder shall be entitled t
vote for each share of stock register
ed in his name, and may vote b,
proxy.
The election Of directors shall b
by ballot, and the majority Il
} amount of votes cast, each share o
stock voted upon to be counted TO
one vote, shall elect the person 0
persons for whom they have peel
J cast.
After each election the board o
directors shall elect from their ow
, number the officers Of said company
ARTICLE V.
The board of directors shall hav
: full power to fill vacancies in thei
| number caused by death, resignatio
or otherwise, from the stockholdel
5 of the corporation.
The said board of directors sha
D have full control of the property {
4 this company, and shall so conduc
manage and use the same as in the
discretion they deem fit, and as
: consistent with the objects Of tn
: company or the welfare of the sam
o The said board of directors is fu
e Their authorized to frame and ado