St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1920-01-31

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 Beard of
Directors. The corporation, through
its 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
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 ($10,00O)
| 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 vesteu
in and exercised by a Board of D4-
rectors of five CD 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 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
| i
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 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 meeting of the stockholders
to ibe held on the first Tuesday in
November, 1920, at the Office of tie
tconporation at Madisonville, parish
Of ST. Tammang, 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
act any business coming before them,
and elect a Board of Directors.
Notice of .stockh olders' meeting SHAH
L lhn in wi INV Cd
ed to each stakeholder at his usua.
place of business, fifteen (15) days
prior to the date Of such meeting
The election of the Beard of Direca-
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 entit.-
ed to one Cd vote, either in pers IN
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 ofic 3
! for one ID year, or until their SUE
| cessors shall have been duly electe
and qualified. No failure to cleo.
shah be regarded as a 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 a.
duly elected and qualified. Sal
Board of Directors, or its successor
may, II they desire, sub-divide Tn
Office of Secretary-Treasurer INFO twG
! (2) offices, that of Secretary AM
of Treasurer.
ARTICLE VII.
Until the election to be held or
the first Tuesday of November, 1921
the following named persons, stock
holders Of this corporation, shall
constitute the first Board of Directors
of this corporation, viz:
Mr.. Harry U. Hayden, postoffica
jacksonville, Louisiana; and Mr..
Paul A. Blanchard, postoffice Madi-
senville, Louisiana; Mr.. Thomas HI.
Hayden, postoffice Madisonville, LON
isiana: Mr.. Samuel J, Blanchard.