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

ton may be increased or decrease
by complying with the laws Of the
State of Louisiana providing for the
increase or decrease of the stock OF
corporations.
Any stakeholder may sell, assign
or transfer his stock in this corpora
ton provided thirty 900 days prior
notice of such intention to sell, as
sign or transfer the same be given
the corporation through it's Board Of
Directors. The corporation, through
it's Board of Directors, shall have
first privilege of purchasing same,
after which notice the said stock may
be sold in open market.
The capital atock of this CORPORA
ton shall be worcestershire, and
transferable only on the books Of
the corporation, subject, however, to
the laws relative to the delivery OF
stock certificates.
This corporation shall be author
lied to commence doing business as
soon as Ten Thousand ($10,0OUl
Dollars of the capital stock shall
have been subscribed for.
ARTICLE v.
All the corporate powers of this
corporation and the management anu
control of its affairs shall be veste>.
in and exercised by Board OF D.
rectors of five 60 stockholders, to
be known as Directors. Thee
shall be no quorum Of the Boarr
Of Directors authorized to do bust
nessunelss majority of the mem
bers be present in person or by
proxy, and in addition represent
the majority of the shares of stock
individually or by proxy. Any Di-
rector shall have the right to ap-
point, by written instrument, another
Director as his or her proxy to act in
his or her stead, at any and all meet
ings of the Board of Directors. The
Board of Directors shall have tho
power and authority to make such
bylaws, rules and regulations as
may be necessary for the proper man
agement of the affairs of this cor
poration and to amend and change
the same as they may deem proper.
provided the same shall not conflict
with the provisions of this charter,
nor with the laws of the State of
Louisiana, nor with the laws Of these
United States of America, and shall
hae the power and authority to pro-
vide for and contract debts, borrow
money, issue bonds, drafts, notes, &C.
ceptances and other evidences of in
debtedness and to execute and accept
pledges, mortgages, deeds and other
acts. 1t shall have the right to ap-
point and dismiss the officers and
employees of the corporation, as tho
interest and business Of the same
may require and to fix the amount OF
their compensation and the time and
manner of the payment thereof.
And they shall have the right, power
and authority to fill any vacancy
arising in their number and to do all
other things incident to the objects
and purposes of the corporation and
to vest the president or other officer
or officers with such Of these powers
as they see fit.
ARTICLE vi.
The first election of the Board OF
Directors under this charter shall
be at a meeting of the stockholders
to be held on the first Tuesday In
Novemb Der, 1920, at the office Of the
corporation at Madisonville, parish
of st. Tammany, State of Louisiana,
and thereafter the stockholders shall
| hold a meeting annually on the first
Tuesday In November each year at
the office of said corporation, trans
jr1y hafara fh
and elect a Board of Directors
Notice of stockholders meeting shat
be given In writing, by mail, address
ed to each stakeholder at his usua
place of business, fifteen (15) days
prior to the date of such meeting
| The election of the Board Of Direct
ors shall be by ballot, under such
| rules and regulations as may be de-
terminei by the Board Of Directors
and each stakeholder shall be entitl-
ed to one % vote, either in pers u
or by proxy, for each share owned by
him, and majority Of the votes shall
elect such person or persons TO,
whom they are cast. The Directors
thus elected shall continue in offic;
/ for one ID year, or until their sue
cessors shall have been duly electe
and qualified. No failure to cleo,
shall be regarded as forfeiture OF
| this charter. The Board of Directors
| shall at its first meeting after its
election, out of it's own number, cleo.
a President, Vice-President and Sec
retary-Treasurer These officers sha.
hold office until their successors az,
duly elected and qualified. Sal
Board of Directors, or its successor
may, If they desire, sub-divide IN
office of Secretary-Treasurer into tw.
CD offices, that of Secretary an"
of Treasurer.
ARTICLE VII.
Until the election to be held OF
the first Tuesday of November, 1929
the following named persons, stock
holders of this corporation, shall
constitute the first Board Of Directors
of this corporation, viz:
Mr.. Harry U. Hayden, postofticc
jacksonville, Louisiana; and Mr.
Paul A. Blanchard, postoffice Madi-
sonville, Louisiana; Mr.. Thomas H.
Hayden, postoffice Madisonville, Lou