St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1920-07-24

ment and regulation OF its ana1rs, 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
dissolved, in accordance with Its
charter, shall exist and continue for
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 Of
stumps, to operate saw, single and
planning mills, and generally to On
gage in any business incidental to
or connected with the operation Of
ARTICLE III.
The capital stock of this corpora
ton is hereby fixed at the sum Of
twenty-five Thousand ($25, 000.00)
Dollars, divided into two hundred
and fifty (250) shares Of the par
value of One Hundred ($100)- Dol
lars, each, provided, that the amount
to which the capital stock Of this
corporation may be increased, shall
be Fifty Thousand 0,000.00) 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 proper 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 said 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 it's Office, on the surrender of the
certificate therefor.
ARTICLE ".
The corporate powers of this cor
poration shall be vested in and OK
ercised by Board Of Directors,
which shall consist of three stock
| holders, two of whom shall consti-
tute q 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 President, a Vice
President and 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
lyear from the date of their election
and until their successors are elect
ed and qualified But the failure
to hold an annual election, or to
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 oaid
Board of Directors shall be filled 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 last
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-preaident and
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 BIZ. held liable
or responsible for the contracts Of
faults of this corporation in any fur
Their sum than the unDaid fha1anrf
due the company on shares of stocI
owned by him nor shall any infor
mality in the organization herein
have the effect Of rendering thi:
charter null, or of exposing any
stakeholder to any liability beyond
the unpaid balance due on his stock
| ARTICLE vi.
The appearers hereby declare that
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, ....... share
Ernest Dietz, ......... so shares
Annexed hereto and read in con-
nection herewith Is list of certain
property and rights to be received by
this corporation in payment for the
subscription of Henry B. Pruden for
one hundred shares, Harvey E. Ellis
for one share, and Ernest Dtetz for
fifty shares of the capital stock OF
this corporation.
Thus done and passed at my Of
| fee in the town of Covington, Lou
| ;Siana, Parish of St. Tammany, State