The Caucasian., 1905-02-16

and bills of exchange and the same t
endorse and deliver in the usual cOurs
of commercial business, and to do al
acts and things permitted by law or a
! shall be necessary and proper to Carr,
7 OFT the objects and purposes Of s1id cts
poration.
! ARTICLE VI
( The capital stock Of said corporation
! shall be fifty thousand dollars (S5o;ooo)
divided into and represented by five hun
dred (5oo) shares Of stock OF one hum
dred ($Ioo) dollars each, and said stock
shall be paid for at the time Of the issu-
ance OF the certificates therefor, ann said
stock may be issued for payment q
money Or for property, real and personal
rights Or credits conveyed 70 said cor
poration of sal,1e fully equivalent 20 the
par value cf said stock Or for other val
liable considerations Or services rendered
to said corporation OF vaiue fully
equivalent to the par value of said stock
as the board of directors may determine.
Any stockholder may sell, assign or
transfer his stock in this corporation.
provided ten (1o) days prior notice of
such intention be given by the corpora
thereof, and each of such otaer stock
holders thereof shall have the first privi-
}ege of purchasing same, after which ten
(Io) days notice the stock may be sold
to other persons All purchases of stock
must be made on the books of said cor
poration at its office, maintained at its
ion1icile
This corporation shall commence bust
ness as soon as thirty thousand dollars
(S3o,ooo)) of the capital stock shall be
subscribed and paid for. The board of
directors may afterwards authorize the
issuance of additional stock not to ex-
ceed fifty thousand ($5o,ooo) dollars of
the total stock of said corporation as
the board of directors may determine.
and no stock shall b., issued until fully
paid for in money Or its equivalent in
property conveyed or services renlered
to said corporation.
ARTICLE VII.
The corporate powers of said corpora
ton shall be vested in board of four
CD directors, three Cd of whom shall
constitute a quorum for the transaction
Of business, and their decision shall be |
acts.
The following persons shall constitute |
he first Board of Directors: Perry P.
Keith Sr., William H. Keith, Daniel W. |
Keith and Perry P Keith jr., with
Perry P. Keith ST., as president thereof,
md William H. Keith as vice presi dent
md general manager thereof; Perry P
Keith Jr, as secretary thereof, and Dan
e. ". Keith as treasurer thereof.
No person shall be eligible as a direc-
Or OF officer who shall not be stock
holder. Said board of directors and Of
lcers shall continue in office until the
irst Monday in January, 1906, and until
heir successors are elected and qualified.
The stockholders of said corporation
hall meet annually on the 6rst Monday
II January of each year, commencing on
he first Monday in January, 1906, and
thereafter for the election Of
board of directors, and the said board
# directors shall elect the president,
ice president and general manager, and
he secretary and treasurer
Notice of said election must be given
ach stockholier. Any failure from any
ause to elect directors on the day
famed for that purpose shall not dis~
olive the corporation, but the directors
nd officers then in office shall hold over
ntil their successors shall be elected
The election of directors shall be by
aAot, and the majority and amount Of
otes cast, each share of stock being en-
tiled to one (11 vote, shall elect the
erson for whom they are cost. The
oard Of directors shall elect from their
wn number the officers of said corpora
ion.
ARTICLE VIII.
The board Of directors shall have
over to fill all vacancies in their num-
er caused by death, resignation or other
rise, from among the stockholders of
le corporation. They shall have full
ontrol Of the property of said corpora
ion and shall conduct and manage and
Sc the same in their discretion as they
lay deem best.
No premissory note or obligation of
aid corporation shall ever be given by
aid corporation except the same be
lgned by the president thereof, nor shall
aid corporation ever borrow money or
ontract any obligation therefor except
pom the approval OF the president and
1e execution of the obligation or note
said corporation signed by the presi-
ent
ARTICLE TX
This charter may be amended Or the
apita1 stock of this corporation increased 1
r decreased, or this corporation may be
issoived by general meeting OF the
.ockholders convened for that purpose
18th the assent of three-fe feurtI1s (3-4)
6 tho at,fira a..i .u~f.