Rogue River courier. (Grants Pass, Or.) 1886-1927, 1908-09-04

elected aun ally, and shall serve until
their successors are tl,t, d aud quaii.
fled Th Y shall qualify as directors
within five DAYS after the election
and within 10 day. tn r,after they
stall elert ON their nuu, her a presi.
dent, ,ice-presidtn aud secretary.
They shall also choose treasurer,
who shall be required to give bonds
with suretS, in such $ ms as they
may deem ample. TIL y NAV choose a
bank as treasurer without bonds.
ARTICLE III.
The directors shall have power to
levy and co lot assessm, nts on the
capital stock, the same to become de-
linquent in thirty days from date of
notice In local paper aud by mail, Of
such assessment The electors may
sell such d, linqueut stock at public
auction to the highest bidder for
cash, first giving thirty days notice
OF such sale in local newspaper, such
sale to be made at the door If the
office OF the corporation in Grants
Pass, Oregon.
ARTICLE ~.
No sale of stock of this corporation
shall be legal unless transfer is made
on the books OF the corporation, and
10 stockholder shall sell any of this
stock without first Offering it for sale
10 the corporation.
Twenty y-Hve shares (25) of the stock
of this corporation shall be the limit
Of the holding of any one person or
company.
ARTICLE V.
One (S100) dollar per share shall
be the first payment on the stock
aud no future call shall be made with
in 60 days except upon majority vote
OF the stockholders at n regular or
called meeting
ARTICLE VI.
The board of directors shall have
entile control of the handling of the
products handled by this corporation
aud shall employ such agents and
other employees as are necessary to do
the business of the corporation, aud
shall fix their remuneration. No di-
rector shall be elected as manager of
the corporation.
ARTICLE VII.
No stockholders of this corporation
shall sell or offer for sale any Of his
products, outside Of this corporation,
except with the consent of the board
of directors.
ARTICLE VIII.
The directors may refuse to receive
for shipment any fruit not considered
prime for any cause. They may also
refuse to receive fruit for shipment
from any person who has not shipped
with the exchange regularly hereto
fore during the shipping season for
such fruit, when In their Judgment
the receiving and shipping Of the
same would be detrimental to the in
terests Of the regular shippers Of the
exchange.
ARTICLE TX.
The duties of the secretary shall be
to keep all books and accounts and
records Of the corporation, and to
keep the minutes Of the proceedings
of the directors and stockholders'
and to carry on all cores
pondence. and to perform tuch other
duties as may be required by the
board Of directors, and his books shall
be open to inspection by any members
of the corporation at any time.
ARTICLE X.
The duties Of the president and
vice pr esident shall be the same as
are usually required of such officers.
ARTICLE XI.
II shall be tho duty of the treas
urer to receive and pay out all funds
of the corporation on vouchers signed
by the president and secretary and to
keep correct account of the same.
ARTICLE XII.
The annual meeting for the election
Of officers aud the transaction Of other
business Of the corporation shall be
held on the second Saturday in Feb.
ruary, each year, in the town Of
Grants Pass, Oregon, a. 10 O'Clock
q. IN.
ARTICLE XIII.
The president shall instruct the
secretary to call meeting OF the stock.
holders Whenever In his judgment the
necessities Of the corporation require
1t, by giving 10 days notice through
the local newspaper and by written
notices through the mail.
ARTICLE XIV.
A majority OF the stock subscribed,
upon which all legal calls or assess
ments are paid In full, shall consti.
tute quorum at any stockholders
and no vote shall be
counted which is not represented by
one share of stock upon which all calls
or assessments have been paid.
ARTICLE XIV.
These by.laws may be amended by
vote Of two.thirds OF the stock upon
which all calls or assessments have
been paid in full, at any regular or
cnlled meeting provided that notice
to amend bylaws shall have been
given in the call for the meeting. -
ARTICLE.xvL !: -
The board Of directors shall have the
DOWpr N fill any yapaueipa that IN az