Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1886-02-06

of the stockholders of this corporation may be
carefully collected, digested and periodically
published to the members of this corporation.
he snail issue the proper notices of all meetings
of the stockholders and Board OF Trustees He
shall, in all other respects, perform such other
duties as may be appropriate to the Office of Sec
rotary and be required by the Board of Trustees.
TREASURER.
SECTION s. 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 stock and
proceeds from assessments of stock of the corpo-
ramon, deposlting the same in bank or de-
pository, 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. He 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. az d at each annual meeting of the
stockholders he shall submit a report. accompa-
M, neu ny proper vouchers of the corporation. for
partial reports as may be called for by the Board
OF Trustees at any meetings of the Board. or of
stockhoiders, other than the annual meetings
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 9. tockholders representing majority
OF the outstanding stock Of the corpora
tlon ana a majority OF the Board of Trus-
tees, respectively shall constitute a quorum for
the transaction of business at all meetings of
their several bodies. All questions at
be decided by the vote of
a majority of the members present: all cues
tons before meetings of the stockholders
snail 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 cranes
and no stock shall be recognized as entitled to a
vote, unless so voted by an owner of such EQUIV
alent acreage as before 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
east in accordance with the foregoing shall de-
cioe all questions at meetings of the stockhold-
ers.
SHIPMENTS, COMMISSION, GUARANTEE PURCHASES
Section 10. Stockholders of the Union may.
IN all shipments they may make, in entire
carloads, through the Union, name the desti-
nation of the fruit or vegetables, and the CON
signee provided that on all fruit and vegeta-
Dies SO consigned commission of not to ex-
ceed per cent. of the sale value of said fruits
and vegetables, and the actual freight shall
be paid to the Union; and, provided that the
Sailiornla FRUIT Union shall not purchase any
iruit or vegetables from any one. All stock
holders shipping through the Union shall be
required to file good and sufficient guarantee
with the Secretary of the Union to idemnify the
SAID Union against all losses from non payment
OF freights, or for any sales of fruit or vegeta-
bles not covering expenses on his or their ship
ments. No fruit or vegetables shall be shipped
acreage duly represented by ownership of stock
IN the Union, upon which stock ali calls or as
sesSinents shall have been paid.
DIVISION OF PROFITS.
Section IL. In the division of the net profits
Of the Union there shall be allotted 10 the
stockholders OF the Union dividends Of not ex-
ceedlng six per cent. per annum on their stock;
next there shall be allotted two per cent to a
Reserve Fund of the Union, and all the remain
ing profits shall be divided among the stock
holders of the Union. who consign their pro-
duce through said Union in proportion to the
amount in selling value of their produce so
consigned by them, the intent thereof being to
make the Union essentially "co-operation''
Tor the profit OF fruit-growers supporting It,
LOCAL CORPORATIONS
Section u. 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 community.
or for the fruit producers OF spe,
cial locality or localities acting in unison.
may subscribe to the capital stock
of this corporation as an organization
to the extent Of the number of shares EQUIV
alent to the acreage of the individual own
ers or producers composing such organ.
the issue thereof shall be subject 10 all
the rules and regulations for stock issue trans
fer; voting, etc, hereinbefore prescribed for
individual stockholders.
SURRENDER OF STOCK.
Section 10. ANY stakeholder, while still Quail
ned as such, may at any time surrender and
deliver TO the Secretary his certificate of stock
for cancellation, and the same shall thereupon
be cancelled, provided it is fully paid or he
then pays il up fully. From the time OF such
surrender of such stock he shall no longer be a
stakeholder in said corporation, and by such
surrender he shall forfeit whatever he nav
have paid on such stock
LIMITATION OF DEBTs.
Section Ii. M debts shall be incurred for this
Union, by its officers, exceeding the aggregate
amount OF ten tn iusand dollars (sl000G5 at any
time, except for freights On produce handled by
or through the Union.
AMENDMENT OF BYLAWS.
Section u. These bylaws may be amended
without notice, by vote of majority of the
subscribed stock, upon which at least % per
cent. of the par value shall have been paid in
at the first annual meeting of stockholders:
thereafter they may be amended by a vo;e OF
two thirds GO 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 q previous meeting, a notice through
the mail, by the Secretary, at least ten l0) days
prior TO date of meeting, shall have been ad-
dressed to each stockholder of the corporation
at his last known residence.