St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1920-08-07

esta blish bylaws, rules and reguta-
lions for the proper management a1d
regulation of its 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 CDR.
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
($5,0O0.O0) Dollars, divided into
fifty 600 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 ($25,0O0) Dollars.
Which stock may be issued at not
less than par, for cash, at the time
1t is subscribed for, or at such tine
as may be deemed necessary by the
Board Of Directors, provided that
said stock shall be paid for in full
within twelve months after same
shall have been subscribed for, or IN
or rights actually received or pur-
chased by said corporation, provid-
ed that all stock certificates shall he
signed by the President and Secre-
tary Of said corporation. No stock
shall be issued unless the considera-
tinu therefor has been recelv3d by
the said corpration.
All transfers of stock shall b.
made on the books of said company
at it's Office, on the surrender Of tho
certificate thereof.
ARTICLE w.
The corporate powers of this Cor
poration shall be vested in and ex-
ercised by Board Of Directors,
which shall consist of three stock
holders, a majority of whom shall
constitute a quorum for the transac-
ton 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-
vided, 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 OF
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 CT
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,
but the then Board of Directors and
officers shall hold their Offices unit
their successors are duly elected and
qualified.
Any vacancy occurring in said
Board of Directors shall be filled by
the remaining members of the board
for the unexpired term at meeting
called for that purpose after five 60
days notice in writing, sent by mail
to said directors at their last knoWIl
residence.
The said Board Of Directors shall
have the power to make all bylaws,
rules and regulations for the proper
| management and conduct of the al
fairs of this corporation, and to
change, alter, abolish and amend a:
| pleasure, and shall have and exercise
all the powers conferred by law Oh
this corporation, and as set forth
generally above.
The said Board of Directors mas
delegate any of said powers in the
| transaction of the business OF this
corporation to committees of the:l
own body, or to the officers and
agents of this corporation.
| The first Board of Directors of this
corporation are hereby declared t
be: N. A. Privette, Talisheek, La.
Adrian D. Schwartz, Covington, La.
and F. B. Armstrong, Talisheek, La.
with r. B. Armstrong as presided:t
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 liza biz
or responsible for the contracts OF
faults of this corporation in any fur
ther sum than the unpaid balauce
due the company on shares Of stock
owned by him, nor shall any IN
Formally in the organization herein
have the effect Of rendering tn s
charter null, or of exposing an,
stakeholder to any liability beyond
the unpaid balance due on his stock
ARTICLE vi.
| The appearers hereby declare that
| they have subscribed to the follow
ing number of shares of the capital
| stock of this corporation, to-wit:
N. A.. Privette. shar IS