Los Angeles herald., 1905-01-04
CORPORATION FOR
RA|S|N GROWERS
TWO MILLION DOLLAR 0RGA-
NlzATI0N is PROJECTED
sub Is Plan Of Committee Appointed
at Meeting in December,
Stock to Have Par
Value Of 81
ny Associated Press,

SAN FRANCISCO. Jan. 3.---The spe-
oisl committee appointed at the meet
ing of raisn growers held in Fresno
on Thursday, the goth day of Decem-
ber, 1904, has formulated the follow
ing report:
Your committee advises that n cor
poration be found under the laws OF
the state of Nevada. having a capital
stock of s2,000,000, divided into two mill
lion shares of the par value of 81
each, with provision for hereafter in
creasing the capital if required; that
such corporation have corporate pow
ers to act as agent or factor for
raisin growers, and also to buy and
sell and otherwise deal in raisns in
its own behalf; that 1t also have power
to engage in the business of packing
and seeding raisins, acquiring, hold
ing and operating packing houses, seed
ing plants and warehouses, and that 1t
have such other general powers as are
usual in such cases.
"That it's board of directors consist
of thirty-three members, of whom
twenty-siX shall be nominated from
districts to be apportioned as nearly
as practicable according to representa-
tion of shareholders the remaining
seven shall be- elected at large. Pro-
vision shall be made in the articles of
Incorporation or bylaws that directors
shall have voting power in proportion
to the shareholders whom they repre-
sent in manner similar to that obtain
ing at meetings of stockholders.
1.-THE general business of the corpora
ton to be conducted by a manager
acting subject to the control of an
executive committee to be chosen from
the board of directors.
"The articles of incorporation and the
bylaws shall contain a provision that
shares of stock shall not be transferred
without the consent and approval of
the board of directors by q vote rep
resenting at least three-fourths of all
the votes.
your committee advises that for inn
mediate purposes subscription lists be
opened forthwith, and that such pro-
ducer of raisins, whether as owner or
tenant be requested to subscribe for
one share of the company's stock for
each acre of vineyard owned or oper-
ated by him and to pay therefor 81
per share in cash.
THAT the corporation enter into
agreements with the growers substan-
TALLY in the form heretofore used by
the California Raisin Growers asso-
citation conditioned for vesting in the
corporation an undivided per cent of
the crop; such agreements to be for a
term of three years, and to contain a
provision for releasing the grower in
case of bona fide sale by him of his
property. Such agreements also to
contain a provision that in each year
there shall be deducted by the corpora
tion one-half cent per pound OF raisins
delivered, to be applied in payment for
fully paid shares of the capital stock
of the corporation to be issued to such
amount.
Your committee recommends that
all subscriptions for shares be condi-
toned upon there being obtained on or
before the 25th day of February next
the cooperation of growers represent
ing at least $4,000 acres of raisin vine
yard, and that if such cooperation
and support be not obtained by such
time the entire scheme be abandoned.
Respectfully submitted:
wv. S. GOODFELLOW,
m. THEO. KEARNEY,
m. f. TARPEY,
"W. A. LONG,
wv. B. NICHOLS,
W H. M. MACLYMONT,
&C. NJ. BLOWERS,