St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1920-10-16

erty by grant, gift, purchase and 20
devise and bequest; to lease, hold
and dispose Of, and to mortgage and
pledge the same, all subject to nmi-
tatioas as may be prescribed by Law;
to issue bonds and notes, to appoint
such officers and agents as the busi-
ness VI the corporation may require.
and TO fix their compensatory to
name directors and managers, and to
mako and establish bylaws, rules
and regulations for the proper man
agemCnt Of the business affairs OF
said corporation as may be requisite
and necessary.
ARTICLE II,
The domicile Of this corporate IN
shall be Bonfouca, st. Tammany pa:
ish, Louisiana, and the nature Of the
business to be carried on by II are
hereby declared to be: To buy,
lease, sell lands and timber; TO oper-
ate and maintain sawmills, planning
mills, and to do the general sawmil
business, including piling and ell
other k nds of wood works and pro-
ducts; to operate turpentine and le-
tort plants; to operate and conduct
a general merchandise business: buy
ing and selling merchandise OF all
kinds; to own, lease, construct ami
operate tram roads, railroads, ditch
es, canals. steambo and barges,
and in general to do and perform AMI
engage in any business incidental to,
tn NnpHnn0fnN
operation of the business above meI-
toned.
ARTICLE III.
Tho capital stock of this corpora
ton is hereby fixed at Fifteen Thou
sand ($15,000) Dollars. divided in
to one hundred and fifty (15@)
shares of the par value of one hun
dred (S100) dollars each; he
amount of each share shall be paid
for in accordance with law, and this
corporation shall be operative and
go into business when its entire
above capital stock shall have been
subsc. ibed and paid for, to-wit at
the execution of these presents.
However the amount to whcih the
capital stock of this corporation may
be increased, shall be thirty thou
sand ($3O,000) dollars. No trans
fer of stock shall be binding upal
this corporation unless same appears
on the books Thereof.
No stakeholder shall have the
right TO assign or transfer any share
or shares held by him unless he shat
have hrst offered same in writing to
the Board of Directors, who shall
have the first opportunity to pur-
chase same at the book value there
Of; and should the said Board IT
Direc -ors fail or refuse to purchase
said stock within thirty days from
said notice, the shareholder offering
said stock may sell or dispose Of
same to any other person what5o-
ever. The signers Of this charter
with shares opposite their names
constitute Subscription List" Of this
corporation.
ARTICLE ~
1. The corporate powers Of this
corporation shall be vested in d
Board of Directors to be composed CT
five directors, three Of whom shall
constitute a quorum for the tranSa:-
ton Of business, to be elected by ta3
stockholders at general meeting to
be held on the third Monday n
October of each year, beginning on
the third Monday in October, 1921.
q. At all meetings of elections OF
this corporation, each stockholdsr
shall be entitled to one vote for cash
share of stock standing in his name
on the books Of the company, which
vote shall be cast in person or by
proxy
s. The Board Of Directors shall
have tho power. to make all bylaws,
rules and regulations necessary ior.
the conduct of the business affairs OF
said corporation; shall elect from
their number a President, Vice.
President and a Secretary-Treasure-.
L. Until the election to be held
as herein4hove provided, the follow
ing shall constitute the first Board
Of directors:
Marcel j. Cousin, Bonfouca, La,
Louis L. Bernard, 1443 N. Broad
street, New Orleans, La,