St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1921-08-13
THE TAMANY FARMER

poration; all as is provided by Act
267 of the General Assembly Of the
State of Louisiana for the year 1914
and the amendments thereto, at a
meeting of the stockholders cOnven-
ed for that purpose and after due
notice shall have been given to each
Of said stockholders as provided for
in Article V Of this charter or Act OF
Incorporation, except that whenever
in the judgment of the Board of Di-
rectors it shall be deemed advisable,
and for the benefit of said corpora
ton that it should be dissolved, the
Board of Directors within ten (10)
days after the adoption of res0lu-
ton to that effect by majority Of
the whole Board of Directors, at a
meeting called for that purpose, OF
which meeting each Director shall
have received at least three CD days
notice, shall cause notice of the
adoption of such. resolution to be
mailed to each stakeholder, together
with a notice of the meeting Of
stockholders to be held in the Office
OF the corporation to take action up
on the resolution so adopted by the
Board of Directors. In case Of the
dissolution of this corporation, by
the expiration of it's charter or other
wise the stockholders shall eIeei
three CD stockholders from among
it's memb ers who shall have full pow
er and authority to liquidate and
settle the business and affairs of this
company. In case of death or dis
ability Of any of said liquidators, the
survivor or survivors shall appoint
a successor or successors to him or
them.
ARTICLE VIII.
Until the election to be held on
June 1, 1922, the following stock
holders shall constitute the first
Board Of Directors:
John P. Rausch, John T. Rausch,
E. Watson Wood, Edward Daniel
Wood, H. A. Black and w. c..
Rhodes, with the said John P.
Rausch as President; H. A. Black as
Vice-President, and q. Watson Wood
as Secretary Treasurer, the respec-
tive addresses of these officers and
directors being as follows: John P.
Rausch, Abita Springs, Louisiana;
John T. Rausch, Abita Springs, Lou
isiana; E.. Watson Wood, 521 Hi
hernia Bank Bldg, New Orleans,
La; Edward Daniel Wood, sci Hi
hernia Bank Bldg, New Orleans,
La; H. A. Black, 521 Hibernia Bank
Bldg, New Orleans, La; W. G.
Rhodes, sci Hibernia aBnk Bldg,
New Orleans, La.
ARTICLE TX.
The capital stock Of this corpora
ton, after having been transferred
from this company to a subscriber
thereof, shall not be sold or trans
ferred or offered for sale. or trans
fer by said subscriber without first
having offered said stock to this cor
poration at the then market or book
value thereof, which market price
shall be ascertained from the then
prevailing market price of such
stock, if such price prevail at such
time, when if not, the book value, q;
such stock shall be ascertained either
by an agreement Of the parties or OF
two competent and experienced bust
ness men, one to be chosen by the
subscriber, and the other to be chos-
en- by the corporation, or the stock
holder or stockholders prospective
purchaser or purchasers, when f
said two parties cannot agree upon
a book value, said two parties so
chosen to choose a third party, when
the majority opinion shall prevail
In the event of the demise of hold
er or holders Of the stock of this
ecutor or Representative of his estate
is to Immediately tender such stock
to this corporation and the stock
holders hereof, on the same basis un-
less it is desired to retain this stock
as a part Of the estate of said de-
ceased stakeholder. Such offer and
tender to be made by the holder or
holders of said stock. to this corpora
ton and the stockholders thereof, by
mailing of a registered letter con-
tanning such offer or tender, address
ed to the last known address of this
corporation or said y stockholders.
Such offer, or tender to remain open
for a period of thirty days from the
date of the mailing of said register
ed letter, when II not availed OF,
said holder or holders to be RELEASED
to make a sale or transfer as he sees
ft In the event of this corporation
not availing itself of such offer or
tender, such stock so offered to be
equally pro rated between the stock
holders Of this corporation should
they so desire to avail themselves
thereof, when if they do: not, such
stock might be purchased by such
stakeholder or stockholders so desir-
ing to acquire same, in a similar
proportion. To such extent all
stock issued by this corporation shall
be non-negotiable,. when this non
negotiability shall be evidenced on
the face Of each certificate so issued
by "a rubber stamp, the nature Of
which is evidenced in the margin
hereof opposite this paragraph.
ARTICLE r.
The subscribers hereto have writ
ten opposite their respective names
the amount Of stock of this corpora
ton subscribed to by each of them.
Thus done and passed in my office
at the City of New Orleans, Louisi-
ana, on the day, month and year first
hereillabove written in the presence
of Isaac S. Heller and Gatien ].
Livaudias, competent witnesses, who
have hereunto signed their names
together with said appearers, and
me, Notary, after a due and careful
reading of the whole.
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