The Hood River glacier. (Hood River, Or.) 1889-1933, 1908-04-30

Dulld cold storage warehouse. Upon
the roll being called 1t was found that
there we're "a votes in tavoi and only
seven against, while three of the lat
ter signed for stock after the meeting,
leaving practically only four votes
against the proposition.
The first order of business was the
reading of the following resolutions,
which were followed by considerable
discussion before the vote was taken !:
Resolutions.
Resolved, That the capital stock of
the Hood River apple Growers Union
be, and the same is. hereby increased
from two thousand 10000 dollars, its
present authorized capital stock, OF
the par value of ten (l0) dollars O
share, and being two hundred (200)
shares, to twenty-five thousand u.s..
OO0) dollars, OF the said par value of
ten (1D) dollars per share, and being
two thousand five hundred (25OO)
shares OF said capital stock: Provided,
however, that within 30 days from
the date OF adoption Of this resolu-
tion, the sum of $1,000 dollars OF the
new issue OF the said capital stock
shall have been subscribed, the pro-
ceeds to be applied to the erection of
cold storage plant in the City Of
Hood River, to be the property of
said corporation, to be worth twenty
five thousand US, 000) dollars;
Provided further, that all of said
new issue Of said capital stock upon
which no calls nor assessments are un
paid, shall be entitled to bear and the
same shall bear interest OF the rate of
| 7 per cent per annum perpetuaily,
payable annually, on the fist day of
April OF each year, calculated on the
amount actually paid in, from the
date of payment perpetualy;
And provided further. that no in
terest shall be allowed on any OF said
stock upon which calls or assessments
are due and unpaid, until such calls
or assessments are paid, and only
thereafter from date of payment of
same;
And provided further, that by the
adoption OF this resolution and the
subscription of the said stock and the
payment OF same, this corporation
shall and does hereby guarantee the
payment of said interest in the man
ner as aforesaid;
And provided further that the
whole question of the collection of
said stock subscriptions. the method
of assessment. the collection thereof,
In aoca1 dance with the bylaws OF this
corporation, as we'll as the erection of
said cold storage plant, the manner Of
Inn hAk all -
cash, the balance secured by said
plant, and the form of contract for
guara nteeing interest to the subscrib-
ers of the new issue OF capital stock,
and all matters appertainine to this
new stock. the cold storage plant and
the guarantee Of interest on the capi.
tai stock paid in, shall be, aad the
same is hereby turned over to the
Board of Directors of this corporation
and their successors, with full power
to act In all matters appertaining
thereto; and be it further
Resolved, That one copy of this
resolution be turned over to the sec
retary of this company tcr the use Of
the Board of Directors, and cy it
spread upon the minutes of it's next
regular meeting, that the third copy
be prepared, as the law directs. and
submitted to the Seer etary OF State of
the State Of Oregon by the secretary
of this corporation, In order to secure
the necessary certificate, and that as
soon as said certificate shall be OBJ
tanned from the Secretary OF State
and fled with the secretary of his
corporation, that thereupon and
thereafter, the Board of Director g
shall issue the necessary certificates
of said increase of the capital stock
to those entitled to receive the sane.
Resolved, That the Board of Direc-
tors be instructed to call on every
stockbolder of the Apple O. lowers
Union to subscribe 800 for addition
al stock; and he it further
Resolved, That the Board OF Direc-
tors call on no stockholder for over
800 OF additional stock until every
stakeholder has been interviewed,
providing, that it this call does not
raise the required amount of S45, 600
the directors shalt be author zed to
solicit additional subscription fIom
stockholders who are willing aud
able. not to exceed $500 in stock from
any stockholdei.
Resolved, That the president and
secretary of the Hood River Apple
Growers Union he instructed not to
issue over $500 worth OF stock TO any
one individual
Resolved. That in future the presi
dent and secI etary be instructed not
to Issue stock 10 Hpy grower in less
than 500 an mount. and be 1t further
Resolved, That no stock be issued
to any individual except an apple
grower ana orchardi
Resolved. l hat every stockholder Of
the Hood River Apple Growers Union
be exeected to subscribe 500 for ad-
ditional stock.
After an exclamation by Secretary