St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1920-05-08

ing, the person holding stock at the
time shall have the right to tak2
shares of the additional or increase
ed stock, proportionate to the num-
Der of shares owned by him, and any
shares not taken at the expiration of
said period may be disposed of by
the Board of Directors, for the bene-
fit of the corporation, at not less
than their par value. No transfer
of stock shall be binding upon che
corporation unless recorded upon the
books.
ARTICLE V.
All the corporate powers of this
corporation and the management
and control of its affairs shall be
vested in and exercised by Board
Of Directors, composed Of seven (7)
stockholders, a tWo-thirds majority
of whom shall constitute quorum
for the transaction Of the business
Of the corporation. The Directors
shall be elected annually by ballot
by the stockholders, on the third
Monday Of May of each year. Each
stakeholder shall be entitled in per
son or by proxy, to vote for every
share owned by him, and all cleo
tions shall be held under such rules
and regulations as may be deterntin-
ed by the Board of Directors; the
Directors thus elected shall continue
in office for one year, or until their
successors have been duly elected
and qualified. No failure to elect
shall be regarded as a forfeiture Of
this charter. Any vacancy occurring
on said Board shall be filled by the
remaining Directors for the unex-
pired term.
The Board of Directors shall, at
its first meeting after it's election,
nominate out of its number a Presi-
dent, a Vice-President and Secre-
tary-Treasurer; said Board shall
have the right to appoint and dis
miss clerks, managers and other en-
ployees of the corporation as the in
terests and business of the same
may require. Any of the Directors
shall have the right to appoint, by
written instrument, another Director
as his proxy, to act in his stead at
any and all meetings of the Board
CT Directors.
ARTICLE vi.
Until the election of officers to be
held on the third Monday of May,
1921, the following named persons
shall constitute the first Board of
Directors, viz:
Andrew Peter, postoffice Madison
vile, Louisiana.
Barbara CurroW, postoffice Madi.
sonville, Louisiana.
Anthony A. Peter, postoffice Madi-
sonville, Louisiana.
Joseph A. Peter, postof1ce Madi-
sonville, Louisiana.
Henry J. Peter, postoffice Madi
5onVille, Louisiana.
Rudolph J. Peter, postoffice Madi-
5onville, Louisiana.
Adelia c. Patecek, postoffice Madi
sonville, Louisiana,
with said Andrew Peter as Preji~
dent, and Adelia C. Patecek as Sec
retary-Treasurer.
ARTICLE VII.
No stockhoIder shall be liable CIR
responsible for the contracts, faults
and debts of said corporation, nor
shall any mere informally in its
organization have the effect of rer-
dering this charter null, or of ex
posing a stakeholder to any liability
beyond the unpaid balance due on
the shares owned by him.
ARTICLE VIII.
This act of incorporation may be
changed, modified or altered or this
corporation may be dissolved with
the assent of the stockholders own
ing two-thirds of the stock of the
corporation, at a general meeting
convened for that purpose, and after
at least fifteen (15) days written
notice of the meeting having been
given through mail, addressed to
each shareholder, at his last known
place of residence.
In case of dissolution by the ex-
piration Of this charter, or other
wise, the stockholders shall elect
two CD liquidators among thei:
number, to Hquidate and settle the
business and affairs of the corpora
ton.
In case of stability Of any Of slid
commissioners or liQuidators, the
survivors or the remaining iquidat
ors shall appoint successor to him.
Thus done and passed in my Office
on the day, month and year first
above written, in the presence o.
Gable Boudousquie and Jos. Stanga,
competent witnesses, who have sign
ed with said appearers and me, said