Sierra County advocate. [volume] (Kingston, N.M.) 1884-1960, 1903-07-31

legations in payment for property pur.
chased or acquired by it, or for any other
objects IN or about It's business; to mort
gage or pledge any stocks, bonds or other
obligations, or any property which may be
scqui:edLy II, to secure any bonds or othei
obligations by 1t issued or incurred to
| guarantee any dividends. or bonds, or
contracts, or other obligations; to make
and perform contracts of any kind and
description and in carrying on its husi.
ness, or for the purpose II attaining OF
furthering any Of its objects, 70 DO any
and al other acts and things, and - ,ex-
ercise sny and all other powers which o
co-paytnership or natural person could
do and exercise. and which now or here
sfter mag be authorised by law.
Tho business Of the Company, that
has to do with the manufacture. sale. or
otherwise dealing in minerals shAll be
In the control Of the Board Of Dinactors
acting through and by the General Man
ager Of the Company who shall be the
chief employee Of the Company. The
dnties Of the General Manager shall bs
the practical conduct Of the business Of
the company except that no eontrsct for
the purchass of material on hehalf Of
tho company or fos the sale ol the pro.
ducts OF the company shall be msds sx-
cspt by the general or special authority
Of the Board Of Directors or the exscu.
tive Committee.
The board Of directors shall have pow.
er from time 10 time 10 Ak and determine
and to vary the amount Of the working
capital Of the company; and to direct
and determine the use and disposition Of
any surplus or net profits over and above
the capital stock paid in, and In It's dis
cretion the Board Of directors may uss
and apply any such surplus or accumu,
lated profits In purchasing and acQuir.
ing bonds or other obligations. or shares
Of capital stock, to such IN extent and
in such manner and upon such terms 20
tho board of directors shall deem expo.
dient; and such bonds, shares or other
ohligatlnns 10 purchased or acquired
may be rs-soid by vote OF majority oi
the board OF directors,
In case Of any vacancy In the board Of
directors through death, resi- xnation,
disqualification or other cause, the res
naming directors by affirmative vote Of
. majority Of the board of directors,
mar elect u successor TO hold offiOe for
the unexpired portion Of the term of the
director whose place shall hs vacant, and
until the election Of q successor.
The board OF directors shall have
power TO hold their meetings within tha
State Of New York, Or in any other State
or Territory OF the United States, at such
places AZ from time to time may be desi-
gnated by the by-laws or by resolution
of the board. The byla may pre-
scribe the number Of directors necessary
to constitute quorum OF the board OF
directors, which number may not be
less than fifty percent Of tho whole num-
ber Of the directors.
The Board Of Directors, by the affirm,
ative vo eof 4 majority OF the whole board.
may appoint any other Standing Commit
tees, and SUCH Standing Committess shalt
have and may exercise such powers ~
shall be conferred or authorized BY the
Bylaws.
The Board Of Directors may appoin
not only other officers Of the Company.
but also ono Or more Vice-pres'dents, one
or more Assistant Tieasurers and one or
more Assistant SECRETARIES; and, TO, the
extent provided in the Bylaws, the per-
lors SO appointed re- pectively shall have
md may exercise oil the powers Of the
Of the Treasurer and Of the
respectively.
The Board of Directors. from time To-
time shall determine whether and to.
what extent, and at what timeaand places,
and under what conditions and regula-
tions, the accounts and books Of the cor.
or any Of theN. shallhe cpen.
to the inspection Of the stockholders,,
and no stakeholder shall have any right;
TO inspect any account or book or docu-
ment Of the corporation, except ~ con-
ierred by Statute, or authorised by the
Board Of Directors. or BY resolution Of
the stockholders,
The stockholders ot, tls corporation,
shall, for its governpent. adopt Bylaws
These By-Iaws may be amended or al.
tered by majority vote Of all the stock
lolders present at the annual or at any
general meeting Of the stockholders, or
At any special meeting called for the pur-
pose OF, amending the Bylaws. Tho
Bylaws may be amended ny tho
Board Of Directors by the affirn.a-
i've vote Of = mpjority Of the Board.
such amendment shs not be,
n conflict with, tho rights Of third par
lies; for the purpose OF constituting this
section third parties shalt mean any,
not, stockholders. The boardl
fContinued on page tw0.l