Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1886-01-05

Board OF Trustees, must pay % per cent of such
par value until the whole is fully paid
SUBDIVISION 2. Noperson shall be admitted as
stockholder in this corporation either by orig
inal subscription or by purchase. transfer or
otherwise, nor shall any certificate of stock be
issued to any person, unless such person is the
a acre of vineyard of shipping grapes, or one
~ acre of small fruits or vegetable suitable
for shipping beyond the limits of the
state ofCalifornia, for each share of stock which
he claims to have issued or transferred to him:
prortded, that persons or firms engaged in
fruit-shipping may become members without
being growers of fruit, By. subscribing for 800
shares of stock each. and paying the regular
assessments prescribed in these bylaws for nav
ment by all other stockholders
SUBDIVISION 3. The Secretary NAV reoui-e
from any person Claiming the issuance of trans
fer OF certificate of stock an affidavit. show
Ing that he Is qualified to own the same under
the provisions of Subdivision hereof
SUBDIVISION A. When any person, to whom
STOCK mas been issued in accordance with the
provisions of Subdivision hereof. shall cease
TO possess the qualifications required by said
SUBDIVISION, he shall ips0 facto to the extent to
which he shall so have ceased to Dossess s,1ch
qualifications, cease to be or TO have any right
as a stakeholder of this corporation, ecccpt tRat
he may transfer his stock to any person ouali-
NED 70 be admitted as a stakeholder or may sur
render the same to the corporation in accord
ance with the provisions hereof: groiidetI
holceter that the representative of the estate of
deceased, insolvent or bankrupt stockhoIder
may exercise ownership of the stock of such
deceased, insolvent or bankrupt stockholder SO
long as his estate shall continue to own The
orchard, vineyard vegetable land necessary
10 guaIiiIy !ne original owner to hold such stock
SUBDIVISION .. These bylaws shall he nrinted
IN full on the back of each certificate.
SECRETARY.
Section 6: The Secretary shall be the Gus
todlan OF the records of the CORPORATION He
shall keep full minutes of the proceedings at
an al meetings OF the stockholders and of the
board OF Trustees. He shall, jointly with the
PRESIDENT, sign all certificates of stock ALWAYS
strictly in accordance with Section hereof reg
ulatlng stock issue and transfers, keeping
proper books of record thereof: shall make
in due form, in accordance also with Section 5
hereof all transfers of stock, whenever
required, carefully csncelling all retired
s s50cS o certificates shall keep an ac
corporation shall countersign all contracts.
notes. deeds and leases signed by the President
under the direction of the Board of Trustees.
Keeping an accurate record of the same He
shall collect of the subscribers to ,tock in this
corporation the amounts Of their contribution
TO its capital and pay the same over to the
treasurer OF the corporation. He shall keep
expenditures of the corporation, and
full and detailed books of account
with the various individual subscribers
He shall cause to be prepared and periodically
issued to the Trustees for the exclusive benefit
OF the CORPORATION. reports and estimates of the
probable fruit yield of each season. and reports
on Eastern constim pton markets; in fact es-
tablshllIg and maintaining, in the highest pos
slble efficiency. department of statistics, I'M
der direction of the Board of Trustees where
everything calculated to promote the interests
OF the stockholders of this corporation may be
carefully collected. digested and periodically
published to the members of this corporation
He shall issue the proper notices of all meetings
OF the stockholders and Board of Trustees He
Il haAr lrf.ap
duties as may be appropriate to the Office of Sec
rotary and be required by the Board of Trustees.
TREASURER.
Section I. The Treasurer shall have charge of
the finances OF the corporation shall receive
from the Secretary, as hereinbefore provided in
Section Z, all avails from disposal of stool; and
proceeds from assessments of stock of the corpo-
ration, depOsiting the same in a bank or de-
postory, to be selected by the Board of Trustees
TO the credit of the corporation. thence to be
drawn only on the order ofthe President and Sec
rotary. He shall collect and receive moneys be-
longing to the corporation from whatever source
derived. lie shall furnish good and sufficient
bond for the safe custody of the same on the
call of, and to the satisfaction of the Board of
Trustees He shall also keep proper books of
account, at all times open to the inspection of
stockholders, AID ut each annual meeting of the
stockholders he shall submit Il report, accompa-
MED by proper vouchers of the corporation for
the preceding year. He shall also make such
partial reports as may be called for by the Board
of Trustees at any meetings of the Board or OF
stockholders other than the annual meetings
lie shall make all necessary disbursements for
the current transaction OF the affairs of the cor
poratlon, in accordance with whatever system
the Board of Trustees may direct.
QUORUM, VOTES, PRoXIEs
Sections s. Stockholders representing a majority
OF the outstanding stock Of the. corpora
ton and majority of the Board of Trus-
tees, respectively, shall constitute quorum for
the transaction OF business at all meetings of
their several bodies. All questions at
meetings of the Board of Trustees shall
be decided by the vote, of
tons before meetings of the stockholders
shall be decided by voting of shares one vote
to each share of stock actually owned by an
owner of an equivalent acreage of orchard
vegetables, small fruits or VINEYARD of grapes
and 10 stock shall be recognized as entitled 10 a
vote, unless so voted by an owner of such equiv
alent acreage as teIoTe mentioned. Voting by
proxy shall only be allowed when the Proxy is
OF his own right an actual owner Of stock in the
corporation, with an equivalent ownership of
orchard ana vineyard. The majority of votes
cast IN accordance with the foregoing shall de-
eide al questions at met inGs of the stockhold-
ers.
Section 9. Any stakeholder of the Union shall
have the right to ship fruit grown by himself
and may purchase fruit of any or all stock
holders thereof. and ship the same in carload
lots by the trains chartered by the Union, to
any point OF destination and to such consignee
rs desired; protided, satisfactory guarantee is
hrst given to the Union for prompt payment of
all costs for transportation, upon demand
LOCAL CORPORATIONS.
Section 10. Local corporations associations
cooperative unions or other bodies cooperative
or otherwise, which are already organized, or
which may hereafter be organized which
represent and which are duly en-
powered to act for q community
or for the fruit producers of a spe-
clal locality or localities acting in unison,
may subscribe to the capital stock
of this corporation as an organization
alent to the acreage of the individual own
ers or producers composing such organ.
ization, and such stock substitution and
the issue thereof shall be subject to all
the rules and regulations for stock issue, trans
fer. voting, etc, hereinbefore prescribed for
individual stockholders
AMENDMENT OF BYLAWS
Section H. These bylaws may be amended
without notice. by vote of majority of the
subscribed stock, upon which at least Is per
cent. of the par value shall have been paid in
at the first annual meeting of stockholders:
thereafter they may be amended by vo.e of
two thirds 90 of such subscribed stock upon
which all calls shall have been paid in at any
regular or called meeting, provided that due
notice of such amendment shall have been
given at a previous meeting, or notice through
the mail, by the Secretary, at least ten n0) days
prior to date Of meeting. shall have been ad-
dressed to each stockholder of the corporation
at his last known residence.
The Nc Carthy Matter.
Very little that is positive has TRANSFERRED
relative to the reason of the sudden depart