St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1920-08-28


lions for the proper management aad
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 or
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 es-
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
($5,0OO.00) Dollars, divided into
fifty (5O) shares of the par value OF
One Hundred ($10O) Dollars each.
provided that the amount to which
the capital stock of.th.s 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 tine
as may be deemed necessary by the
Board Of Directors, provided thai
said stock shall be paid for in full.
| within twelve months after samS
shall have been subscribed for, or II
payment or exchange for property
or rights actually received or puf'
| chased by said corporation, proVid
| ed that all stock certificates shall hi
signed by the President and Se"re
tary of said corporation. No stoct
shall be issued unless the considera
to-: therefor has been received By
the said corpration.
| Al transfers OF stock shall b;
made on the books of said compan.
at It's office, on the surrender of thu
certificate thereof.
ARTICLE Nv.
The corporate powers of this CO..
poration shall be vested in and OK
ercised by a Board Of Directors
which shall consist of three stock
holders, majority of whom shall
constitute a quorum for the transac
ton of business. Said directors shall
be elected annually from among In
stockholders on the second MonGa
IN August, of each year, commenc
ing on the second Monday in Angus
OF 1921, as provided by law.
At the said election as above pro
vided, the Board of Directors shl!
elect from among their number
President, vice-President and
Treasurer, provided thu
one person may ho.d the office ]
both Secretary and Treasurer, an
all of said officers and directors sha
hold their respective offices for
period of one.year from the date c
their election, or until their success
ors are elected and qualified. Blu
the failure to hold an annual eItt
> ton, or to elect the officers as abov
provided for, shall not result in
dissolution of this corporate u
but the then Board of Directors an
officers shall hold Their offices unit
their successors are duly elected an
qualified.
Any vacancy occurring in sal
Board of Directors shall be filled &
the remaining members Of the boar
for the unexpired term at meet n
called for that purpose after five &
days notice in writing, sent by ma
| to said directors at their last know
residence.
The said Board of Directors sha
have the power to make all bylaw
: rules and regulations for the prop,
management and conduct Of the a
fairs of this corporation, and
change, alter, abolish and amend
pleasure, and shall have and exerclE
all the powers conferred by law c
this corporation, and as sat fort
! generally above.
The said Board of Directors M
!. delegate any of said powers in Il
transaction of the business OF tn
i corporation to committees of the
own body, or to the officers ar
Iagents of this corporation.
The first Board of Directors Of tn
corporation are hereby declared
be: N. A. Privette, Talisheek, La
Adrian D. Schwartz, Cov.ngton, Ii
r and F. B. Armstrong, Taltsheek, l.;
u with F. B. Armstrong as presided
u Adrian D. Schwartz, Vice-pr esider
and N. A. Privette as secretary-trea
urer, who shall hold their resps
v tive Offices until the second Mond
in August, 1921, or until their su
cessors are elected and qualified.
ARTICLE V.
No stakeholder shall be held 1iat
or responsible for the contracts
" faults of this corporation IN any fl
Their sum than the unpaid balan
due the company ON shares OF sto
owned by him, nor shall any
formality in the organization here
Il have the effect of rendering tn
h charter null, or of exposing Al
stakeholder to any liability beyol
the unpaid balance due on his stor
II ARTICLE vi.
. The appearers hereby declare tn
}, they have subscribed to the Iollo
It ing number Of shares of the capt.
e stock of this corporation, to-wit: