St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1920-02-07

ton may be increased or decreased
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 600 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 stock 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 it's affairs shall be veste>
in and exercised by a Board of hi
rectors of five 60 stockholders, to +
be known as Directors. Thee
shall be no quorum of the Board
of Directors authorized to do bust
nessunelss a 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 the
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
haze 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 shallhave the right to ap-
| fn% oscr h. mr.
employees Of the corporation, as the
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
November, 1920, at the Office Of the
corporation at Madisonville, parish
Of st. Tammany, State Of Louisiana,
and thereafter the stockholders shall
hold meeting annually on the first
Tuesday in November each year at
) the office of said corporation, trans
act any business coming before them,
, and elect Board Of Directors.
Notice of stockholders meeting shall
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 On
or by proxy, for each share owned by
: him, and majority of the votes shall
: elect such person or persons fo-
whom they are cast. The Directors
: thus elected shall continue in Office
, for one ID year, or until their sue
cessors shall have been duly electe
= and qualified. No failure to cleo,
shall be regarded as a forfeiture OF
J this charter. The Board Of Directors
: shall at it's 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 a.,
| duly elected and qualified. Sal
= Board of Directors, or it's successor !;
may, if they desire, sub-divide tn
office of Secretary-Treasurer into twc
CD offices, that of Secretary and
: of Treasurer.
; ARTICLE VII.
: Until the election to be held on
= the first Tuesday of November, 1920
T | the following named persons, stock
: holders of this corporation, shall
constitute the first Board Of Directors
of this corporation, viz:
J Mr.. Harry U. Hayden, postoffico
: Madisonville, Louisiana; and Mr..
Paul A. Blanchard, postoffice Madi-
J sonville, Louisiana; Mr.. Thomas H.
Hayden, postoffice jacksonville, Lou-
: isiana; Mr.. Samuel j. Blanchard,