St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1921-07-30

forms that may be deemed most adj
vantageous for the purpose of carry
ing out it's business, and to hold:
sell, mortgage, lease or purchase
improved or unimproved properties
Of any kind, within the State of Lou
lsana, and to develop, reclaim, drain
or cultivate any lands held or &C
quired by 1t, to contract, for dredg-
ing, the construction of canals anu
levees and any other construction Or
engineering work connected with OF
collateral to land reclamation, and
in such connection to operate rail
roads, tramways, and navigation Ca
nails, to build roads and highways,
to construct wharves, warehouses,
landings, piers, station houses and
other improvements necessary, ana
to use and operate all floating crafts
as the needs Of the business may
dictate. In furthering the objects
and purposes of this corporation II
shall have the right to extend the
operation of its affairs to any point
within the State as it's necessities
may require, at which point branches
may be established. 1t shall have
the authority to contract for the con-
struction of all necessary structures
and edifces, to develop town sites in
connection with the work Of recla-
nation and developing and to lay out
streets, roadways and alleys for the
convenience Of the Inhabitants and
In general to do any and all things
that may be incidental to any of
the lines of business heretofore set
forth.
ARTICLE Nv.
The capital stock Of this corpora
ton Is hereby fixed at the sum of
Twenty Thousand ($20, O0O.00) Dol
lars, divided into and represented by
four hundred (400) shares Of stock
Of the par value of Fifty (50.0OI
Dollars per share. Said stock shall
be paid for in cash, at such time
and after such notice to the sub
scribers as the Board of Directors
may fix, or the same may be issued
at not less than par for labor done
or services rendered for the said cor
poration or property or rights ac-
tually received by said corporation.
That when there are subscriptions to
the capital stock Of property or good
will or for labor done or services
rendered for this corporation, there
must appear in, or be annexed to.
the Articles of Incorporation and be
read in connection Herewith, an ac-
curate, detailed and itemized de-
scription Of said property, as to
amount, location, extent, character,
and state of improvements, together.
with statement Of its value, as APP
praised by the Directors, and a state
ment of the value placed upon any
good will or for labor done or ser
vices rendered, as included Ill tl,t.
capital stock. II the giving OF i!,s
property or good will or for laho
done or services rendered, Ii Ell q
fected IN exchange for stock sub
segment to incorporation, a similar
description and appraisement mu:
be filed in the office Of the Secreta::
of State and in the office Of the Ger
and EX-Otficio Recorder of Mort"aa
es, in the Parish of this corporation
domicile, within ten (1O) days af;e.
the subscription, when stock SO iss;,
ed shall, in the absence of fraud,
be full paid stock.
The amount to which the corpora
tion's stock may be increased shall
at no time exceed the sum of One
Hundred Thousand ($100, 000.00)
Dollars, excepting IN accordance with
the provisions OF Section Of Article
267 of he General Assembly of the