St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1920-02-07

that purpose to contract for the cree
ton, construction and maintenance
| of buildings, bridges, roads and
highways; and also to engage gan
orally in the manufacturing Dus!-
ness and to manufacture all kinds or
building and road matedial by crush
ing or otherwise treating shells and
grayels, so as to make the asme suit
able for commercial purposes; and
generally to do such other thing or
things and to conduct such other
business or businesses, either for its
own account or as agents for others,
as may be found necessary or con-
venient properly to effectuate tn
aforesaid purposes or to enhance
the prosperity and the value OF the
properties, rights and privileges OF
this corporation.
| ARTICLE IV.-The capital stock
of this corporation is hereby fixed at
the sum of fifteen thousand dollars
| ($15, OOO), divided into, and repre-
scented by, one hunded and fifty
shares, of one hundred ($10O) dol
lars each. Said stock shall be pail
for in cash or its equivalent as pro-
vided by law, and in such manner
and at such time and In such INSTALL
ments as may be prescribed by the
Board of Directors. The capital
stock may be increased to fifty
thousand ($50,000) dollars, to DE
represented by five hundred shares
at one hundred ($10O dollars each.
All stock of this corporation shall
be full paid and on-assessable, aad
shall be represented by certificates OF
such form as the Board Of Directors
may determine, signed by the Pfesl-
dent or Vice-President and the Secre-
tary-Treasurer, and sealed with the
seal of the corporation.
ARTICLE V.-The stock Of this
corporation may be transferred only
on the books of the. corporation, and
subject to such regulations and for
malities as may be prescribed from
time to time by the Board of Di-
rectors. No stockholders shall be
permitted to sell, OR otherwise dis
pose Of his stock without irsI Offer
| ing the same in writing to the other
stockholders, through ths. Board OF
Directors, at price no. exceeding
| the book value thereof, and the
stockholders shall have an option
and first right to purchase for cash
all the shares Of stock to be thus
disposed of by sale or by he death,
resignation or otherwise oi any OF
the stockholders of the corporation,
and shall have period Of ten days
within which to accept or to decline
such offer Of stock.
Upon, the failure of said Beard CT
Directors or the stockholders to ex
ercise within the time stipulated the
option thus granted them, the stock
holder who desires to sal or other
wise dispose of his stock Tor his
heirsl shall be at liberty TO sell or
otherwise dispose Of his said stock
in any such manner and at such
price as he or they may see fit. But
| the stock of this Corporation shall be
non-negotiable and non-trahsferrable
except under the conditions and slip
Iulations hereinaboVe set forth, and
mo transfer of stock whatsoever shall
be binding upon this corporation ~un-
It'll and unless made upon it's books.
| ARTICLE vi. - The corporate
fpowers of this corporation shall be
vested in, and exercised by, q Board
of Directors composed Of not less
than three nor more than five stock
holders, two of whom at all times
shall constitute quorum for the
transaction of business. The Di-
irectors of this corporation may vote
in person or by written proxy at any
Of the meetings of the Board Ct Di-
rectors.
The first Board of Directors of mis-
| company shall be composed OF TIC
following: -r- 1859.
| Emilio Cue, Bay St. Louis, Miss.
Curtis l.. Waller, Bly, st. Louis
Il Miss. .r...- rr.,,s -.
Herbert S. We'll, New Orleans, La
These Directors shall serve unit
the second Monday in November
1920, or until their successors shai
have been elected and qualified. The
Directors shall be elected annual!
by the stockholders at a meeting {.
stockholders, to be held on the frs
Monday in November each yea
Notice of such meeting shall be g!vc1
fifteen days prior to the date thereo
in writing, and shall be sent &c eact
stakeholder at his last kno vn adj
dress. Each stakeholder raii a
such annual meeting Ut )ther eet
ing, general or special, ba entitled
in person or by proxy to one vot'
for each share of stock ,Wnrd b!
him. Elections shall be lel1 u de
such rules and regulations IS may
from time to time, be prescribed b.
the Board of Directors.
The Directors, when cleo. ed. shall
hold office for one year, or untlk theil
successors shall have been elected
and qualified, and ia ,,ure to holG thu
annual meeting of stockb oiders or u
elect annually the Directors shall
not operate the forfeiture Of thi
charter or any of its rights there
under. Any vacancy occurring il
the Board of Directors may be file;
by the remaining Directors for til
uneXpired term.
Immediately after their electio,
} each year, the Directors shall maa
!. and select from their number Pres
ident, Vice-President and Secre
tary-Treasurer. The first officers o
this corporation who shall hold of
flee until the second Monday in No
vember, 1920, or until their success
ors shall have been elected and quail
j. ha1 lilo quo