St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1920-02-21

by complying with the laws OF the
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 900 days prior
notice of such intention to sell, as
sign or transfer the same be given
the corporation through it's Board oil
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 non-assessable, and
transferable only ON the books of
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 ($1O,0OU)
Dollars of the capital stock shalt
have been subscribed for.
ARTICLE v.
All the corporate powers of this
corporation and the management ana
control OF its affairs shall be pesLeu
in and exercised by Board OF D4-
rectors Of five 60 stockholders, TO .
De known as Directors. The te
shall be no quorum Of the Boar
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
porat1on 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
United States Of America, and shall
hae the power and authority to pro-
vide for and contract debts, borrow
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
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 be held on the first Tuesday In
November, 1920, at the Office of the
corporation at Madisonville, parish
Of st. Tammany, State of Louisiana,
and thereafter the stockholders shall
hold 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 stockholders meeting SHAH
% given in writing, by mail, address,
I'd to each stakeholder at his usua
place of business, fifteen (15) days
prior to the date of such meeting.
The election of the Board of Direct
,rs shall be by ballot, under such
Jules and regulations as may be de-
by the Board Of Directors,
md each stakeholder shall be entitI-
I'd to one % vote, either In pers IN |
" by proxy, for each share owned by |
linn, and majority of the votes shall |
'lect such person or persons fo- |
whom they are cast. The Directors
hus elected shall continue in Office |
or one % year, or until their sue
essors shall have been duly elects1 |
nd qualified. No failure to cleo.
hall be regarded as a forfeiture of |
his charter. The Board OF Directors |
hall at its first meeting after its
lection, out of its own number, elect
President, Vice-President and Sec
These officers sha.I
old office until their successors "a,
uly elected and qualified. Sal.
|oard Of Directors, or its SUCCESSOR !.
nay, If they desire, sub-divide thl
flee OF Secretary into two
p offices, that Of Secretary ana
f Treasurer.
ARTICLE VII.
Until the election to be held Oh
he first Tuesday of November, 1929
he following named persons, stock
olders of this corporation, shall
onstitute the first Board of Directors
t this corporation, viz:
Mr.. Harry U. Hayden, postoff1ca
jacksonville, Louisiana; and Mr..
aul A. Blanchard, postoff1ce Madi-
onville, Louisiana; Mr.. Thomas H.
.ayden, postoffice Madisonville, Lon