St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1920-08-14

eSLa DISH bylaws, rules anu ISSutd-
tions for the proper management and
regulation of it's affairs as may be
deemed necessary and proper, and
the same to change and alter at
pleasure; and to do all other acts and
things permitted by law, or as shall
be necessary and proper to carry cut
the objects and purposes Of said cor.
poration.
Said corporation, unless sooner
dissolved in accordance with its char
ter, 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: A general business of buy
ing and selling merchandise, retail
or wholesale, including all manner
of personal property whatsoever; to
purchase or otherwise acquire, hold
| or lease, mortgage and sell real ea-
tate of any nature, which may be
| necessary or incident to the opera
ton Of the business above mentioned
ARTICLE III.
The capital stock of this corpora
| ton is hereby fixed at Five Thousand
| ($5, OO0.00) Dollars, divided into
fifty (50) shares of the par value OF
| One Hundred ($100) Dollars each.
| provided that the amount to which
the capital stock Of this corporation
| may be increased shall be Twenty
Five Thousand ($25,000) Dollars.
Which stock may be issued at not
less than par, for cash, at the time
it is subscribed for, or at such time
as may be deemed necessary by the
Board of Directors, provided thai
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 pur-
chased by said corporation, proVid-
| ed that all stock certificates shall be
signed by the President and Se"re-
| tary of said corporation. No stock
| shall be issued unless the cons1dera-
tinu therefor has been received by
the said corpration.
All transfers of stock shall BE-
made on the books Of said company
at it's office, on the surrender of the
certificate thereof.
ARTICLE w.
The corporate powers of this CO..
poration shall be vested in and ex-
ercised by a Board of Directors,
which shall consist of three stock
holders, a majority of whom shall
constitute a quorum for the transac-
zion of business. Said directors shall
be elected annually from among che
stockholders on the second Monday
in August, of each year, commenc-
ing on the second Monday In August
of 1921, as provided by law.
At the said election as above pro
vtded, the Board of Directors shall
elect from among their number a
President, a vice-President and a
Secretary-Treasurer provided that
one person may hold the office 81
both Secretary and Treasurer, and
all of said officers and directors shall
hold their respective offices for j
period of one year from the date G!
their election, or until their success
ors are elected and qualified. But
the failure to hold an annual eleC-
ton, or to elect the officers as above
provided for, shall not result in a
dissolution of this corporate IN
officers shall hold their Offices unit
their successors are duly elected and
qualified.
Any vacancy occurring in said
Board of Directors shall be filled cy
the remaining members Of the board
for the unexpired term at a meeting
called for that purpose after five 60
days notice in writing, sent by mail
to said directors at their last knoW.l
residence.
The said Board Of Directors shall
have the power to make all bylaws
Irules and regulations for the proper
management and conduct of the al
fairs of this corporation, and tt
change, alter, abolish and amend a.
pleasure, and shall have and exercise
all the powers conferred by law or
this corporation, and as SGT fort:
generally above.
The said Board Of Directors ma.
delegate any of said powers In the
transaction of the business of this
corporation to committees of thesl
own body, or to the officers aut
agents OF this corporation.
The first Board of Directors Of thi
corporation are hereby declared t:
be: N. A. Privette, Talisheek, La.
, Adrian D. Schwartz, Covington, La,
and F. B. Armstrong, Talisheek, La.
with F. B. Armstrong as presidea:
Adrian D. Schwartz, vice-president
and N. A. Privette as secretary-treas
urer, who shall hold their respsc
tive Offices until the second Monda,
in August, 1921, or until their sue
cessors are elected and qualified.
ARTICLE V.
No stakeholder shall be held liabl'
or responsible for the contracts O.
faults Of this corporation in any fur
Their sum than the unpaid balanc'
due the company on shares OF stool
owned by him, nor shall any n
formality in the organization neretI
have the effect of rendering tn :
charter null, or Of exposing an
stakeholder to any liability beyont
the unpaid balance due on his stock
| ARTICLE vi.
The appearers hereby declare tha
they have subscribed to the follow
ing number of shares of the capita
stock of this corporation, to-Wit:
N. A. Privette. .......... 8 shar d