St. Tammany farmer., 1920-06-05


managers or employees as the inter-
est or convenience Of said corpora
tion may require; to make and es-
tablish bylaws, rules and regula-
tions for the proper management and
regulation of its affairs as may be
deemed necessary and proper, and
tho same to change and alter at
pleasure; and to do all other acts
and things permitted by law, or as
shall or may be necessary and proper
to carry out the objects and pull
poses of said corporation.
Said corporation, unless sooner
dissolved in accordance with !ts
charter, shall exist and continue Tor
the period of ninety-nine years from
and after the date hereof.
The president, or, in his absence,
the president, ahall be the per-
son upon whom citation Or other
legal process shall be served.
ARTICLE II.
The objects and purposes tor
| which this corporation is organized,
and the nature of the business to be
| carried On by 1t are declared to be
| the following, to-wit:
To build and construct roads and
bridges; to pave streets and side
walks; to construct and contract for
the construction of drainage, sewer
age and water system; to build
levees and canals; to build railroads
and railroad embankments and
bridges; to contract and to perform
all manner Of works Of public or
private improvements; to own, have,
buy, sell, lease and mortgage ma
chinery, live stock and all other
things that may be required In the
conduct of its business; to establis I
and operate workshops; to purchase,
hold, mortgage, improve, rent, lease,
convey and otherwise acquire or dis
pose Of property, real, personal and
mixed; and to do and perform all
other things requisite, necessary or
convenient to enable it to carry out
the objecta and purposes above set
forth.
ARTICLE II.
The capital stock of this corpora
| tion shall be the sum of Twenty
Thousand (s20,OOO) Dollars, div1d-
ed into and represented by two hun
drod (200) shares Of the par value
Of one hundred ($100) dollars eacn,
which stock shall be paid for in cash,
or the same may be issued and de-
ltvered in payment for actual SER
vices rendered the company, or in
exchange for property or rights
! transferred to or received by said
company; but no stock shall ever be
issued except at its par value for
cash, or for services actually render
ed, or property actually transferred.
The capital stock of said corpora
tlon may be increased to sum not
to exceed Two Hundred Thousand
$500, 0,000) Dollars, at the pleasure
of the Board OF Directors, in which
event. during the period between the
call of the meeting for the purpose
of increasing the capital stock and
the meeting, the persons holding
stock at the time shall have the right
| to take shares of the additional or
increased stock proportionate to the
number Of shares owned by them,
and any shares not taken at the ex-
piration Of such period may be dis
posed Of by the Board of Directors
for the benefit of the stockholders
at not less than par value.
Any stockholder may sell, assign
or transfer his stock In this corpora
ton, provided thirty 500 days
| prior wrjtten notice of such inter-
| tion to sell, assign or transfer the
same be given the company, and thu
stockholders thereof shall have first
privilege of purchasing same, after
which thirty (30) days notice the
said stock may be sold in the open
market.
The capital stock of this corpora
tlon shall be non-assessab BILE, and may
be transferred under the above con-
ditions, provided, such transfer
thereof be made on the books of sad
company at Its Office at Covington,
Louisiana, and on surrendering til ,
certificate therefor. No transfer Of
any fractional part Of share shall
! be made.
This corporation shall be authtl
1AOo W uolh5 osOihOorS
soon as ten thousand (S10, 0,000) Il: !
lars of the. capital stock shall ha*
been subscribed for. The stock su
scribed for shall be paid upon c.
Of the Board of Directors n s.,
amounts and at such times as til
said Board shall prescribe, with
least ten days notice in writing t,
| the subscribers.
ARTICLE ".
The corporate powers of this cor
poration shall be vested in its Boarl
Of Directors, to be composed of not
less than three nor more than ten,
but may be fixed within those limits
all of whom shall be stockholders Of
this corporation. The officers of this
corporation shall consist of the pres