St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1920-09-04

1
lions for the proper management aud
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 a
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
| LlOu VI the UuSlu6SS dDOf0 HIGH LlOuSu.
ARTICLE III.
The capital stock of this corpora
ton is hereby fixed at Five Thousand
($5, 000.00) Dollars, divided into
fifty (50) shares of the par value OF
One Hundred ($10O) Dollars each.
provided that the amount to which
the capital stock Of this corporation
| hn hoI ho wy
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 that
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 Secre-
tary of said corporation. No stock
shall be issued unless the considera-
tiou therefor has been recelyad by
the said corpeation.
hll 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 Cor
poration shall be vested in and ex-,
ercised by d Board of Directors,
which shall consist of three stock
holders, majority of whom shall
constitute a quorum for the transac-
ZION Of business. Said directors shall
De elected annually from among the
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, 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 of
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 III,
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 filed by
the remaining members of the board
for the unexpired term at meet ng
called for that purpose after five 60
days notice in writing, sent by mail
| to said directors at their last known
res dence.
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 on
this corporation, and as sat forta
generally above.
The said Board of Directors may
delegate any of said powers in the
transaction of the business OF this
corporation to committees of tha!r
own body, or to the officers aud
agents of this corporation.
The first Board Of Directors Of this
corporation are hereby declared to
be: N. A. Privette, Talisheek, La;
Adrian D. Schwartz, Cov.ngton, La,
and F. B. Armstrong, Talisheek, La,
with F. B. Armstrong as president;
Adrian D. Schwartz, vice-president,
and N. A. Privette as secretary-treas-
urer, who shall hold their respsc-
tive offices until the second Monday
in August, 1921, or until their sue
cessors are elected and qualified.
ARTICLE v.
No stakeholder shall be held liable
or responsible for the contracts or
faults of this corporation IN any fur
Their sum than the unpaid balance
due the company on shares OF stock
owned by him, nor shall any To-
formality in the organization herein
have the effect of rendering TINS
charter null, OR Of exposing any
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: