St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1921-07-09
THE ST. TAsMAY FARMER CONVICTION La SATURDAY july 1921

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months shall be due such stockh old
ers. Upon the retiring of the pre-
ferred stock, or any part thereof, the
directors shall have the right " in
crease what is now the common stock
by the number of shares of preferred
stock that has been retired.
This corporation shall be a going
concern as soon as Fifty Thousand
($50, 000.00) Dollars of it's capital
stock has been subscribed.
The provisions contained in the
following paragraphs of this article
shall relate to holders of common
stock only:
No stakeholder of this corporation
shall sell his stock to any person not
already a stakeholder, until he has
first offered it for sale during a
period of thirty (30) days to the
then stockholders of the corporation
at it's then book value.
The inc0rporatOrs and stockhold-
ers, present and future, further agree
that in the event the ownership OF
stock of any stakeholder should III
any manner be actually or in effect
transferred or Invested without The
approval Of the Board Of Directors
Of this corporation, such transferee
shall not thereby become a stock
holder but such stock shall, at the
option Of this corporation, be sub
ject to retirement by payment 70
such transferee of the then book
value of such stock.
Any transfer Of stock made in
violation of the provisions of this
article shall not be recognized by
this corporation.
The capital stock of this corpora
ton may be increased not to exceed
Two Hundred and Fifty Thousand
tSS250,000.OO) Dollars, by vote of
two-thirds (2-3) of all the issued
stock of this corporation at special
meeting for that purpose, of which
not more than thirty 600 per cent
may be preferred stock, and whica
preferred stock shall be subject to
retirement, and which common stock
may be subject to corresponding i'll
crease, on the same basis as herein
before provided for under the CAPT
talization of One Hundred Thousand
($100,000.O0) Dollars; said increase
| shall be determined by vote of two
thirds( 2-3) of all the issued stock
Of this corporation at a special meet
Ling called for that purpose, after
fifteen (15) days notice shall have
been given in person or by mail to
each stakeholder, unless said notice
has been waived in writing by the
stakeholder.
In case Of absence, sickness or
other disability to act, each holder
of stock, whether common or pre-
ferred, shall have the right to ab-
point a $tockholder as proxy to rep
resent him at such meetings at whicl,
said stakeholder may have the right
to VOTE, who shall have the rights
and powers of his constituent, or he
may send his vote by letter, the sig
nature of which nuts be acknowl-
edged before "a Notary Public, or
other officer authorized to take affi-
davits.
ARTICLE ".
The domicile Of this corporation
shall be in the Town of Cov;ngton,
Parish Of st. Tammany, State Of
Louisiana, and all citation or other
legal process shall be served upon
the president, and in his absence, eas
the law directs.
ARTICLE ".
All Of the powers Of this corpora
ton shall be vested in, and the man
agement- and control Of it's affairs
shall be exercised by Board of Di-
rectors, to be composed of not less
than five 60 stockholders, a ma
jority of whom shall constitute a
quorum for transaction of the bust
ness of the corporation, each OF
whom shall own in his own right
during the term of his office, at least
one CD full paid and unpledged
share of the capital stock of this
corporation.
The officers of this corporation
shall consist Of a President, a Vice
president, a Secretary and a Treas
urer, any Of which officers, excepting
the President and Vice-president may
be combined by vote Ct the Board
of Directors.
The first Board of Directors of this
corporation shall be J. D. Kerr, Geo.
Dendinger, Theo. Dendinger, Sr.,
Sara Storm Kerr, and J. E. Williams.
The officers of the first Board Of
Directors of this corporation shall
be J., D. Kerr, President; Geo. Den
dinger, Vice-president, and J. B.
Williams, Secretary and Treasurer.
The said first Board of Directors
and the officers above named shall
serve and remain in office until the
second Monady of May, 1922, or until
their successors shall have been duly
elected and qualified. Annually
thereafter the Board of Directors
shall be elected by the stockholders
at meeting called for that purpose
on the second Monday of May Of
each year, and any failure to elect
Directors shall not be regarded as q
forfeiture of this charter.
At such meetings of stockholders
at which common stockholders anc
preferred stockholders are entitled
by law to vote. each stockholde.
shall be entitled to one vote for eacl
share of stock owned by him ana
standing in his name on the books o
the company, which may be cast IL
the same manner and under the sami
restrictions as provided in this char
ter for the voting Of both common
and preferred stock.
In the election of Directors, eac;
common stakeholder shall be entitl
ed to one vote for each share o