The Caucasian., 1910-08-25

| is hereby fixed at two hundred and fifty
thousand ($25oooo.oo) dollars, TO be
divided into twenty-five hundred shares
of the par value of one hundred dollars
each, and this stock shall be issued as
paid for either for cash or for property,
labor or services purchased by or ad-
vanced to said company, and the judg-
ment of the board of directors as to the
value of the property, labor or services
so taken shall be conclusive, provided
| that no stock shall be issued at less than
its par value; and shall begin business
and be a going concern. when all of the
stock is subscribed and paid for. Each
share of stock shall be entitled to one
vote at all meetings, to be cast in per-
son Or on written proxy from the owner
thereof as shown by the stock books.
The transfer of all stock shall be made
upon the books of the company.
ARTICLE V.
The corporate powers of this corpor-
alton shall be exercised by board of
FIVE directors selected from the stock
holders, which said board of directors
shall be elected annually by the stock
holders on the first Monday in August
hereafter. The first board Of directors,
who shall serve until their successors
are elected and qualified, are hereby de-
clared to be E. S. Cayce, M. A. Currie,
Thomas E. Bird, J. L. Breathwit and
w II. Scheen, and in case of death or
resignation of any of the directors, his
successor shall be chosen by the remain
/ ing directors three directors shall con-
| stitt1te a quorum. The board of direc-
tors shall have the right to appoint an
executive committee of three from their
number who shall have power to repre-
sent said board in such matters as may
be delegated to them by the said board
ARTICLE VI.
/ The officers of this corporation shall
lbe a president, vice president and a
secretary treasurer, and shall be elected
| by the board of directors annually at its
regular meeting and shall serve until
their successors are elected and quail
ffed. The first officers of this corpora
ton shall be E. S. Cayce. president; w.
Fl. Scheer, vice president; and M. A.
Currie, secretary treasurer and shall
lserve until their Successors are elected
ARTICLE VII
/ This charter may be amended or the
corporation dissolved by the consent of
lthree-fourths of the stock thereof at a
meeting called for that purpose after
thirty days notice in writing and by
publication to the stockholders, or at a
shorter time when there is waiver Of
time. Whenever this corporation is dis
solved by limitation or otherwise, its
i affairs shall be liquidated by three COM
rnissioners elected BY the stockholders at
a meeting at which a resolution for the
dissolution of the corporation shall have
/ been adopted. In the event of the death
lof such 1iquidators or any Of them, his
successor shall be appointed by court
of proper jurisdiction.
ARTICLE VIII.
No stockholders of this corporation
/ shall ever be held liable OF responsible
i for the contracts or faults thereof in
any further sum than the unpaid bal
ance due on his stock, nor shall any
| mere informally have the effect of rem
i dering this charter null or expose any
| stockho1der to any greater loss than his
stock
j In testimony whereof said parties
/ have hereunto signed their names in the
presence of me, said notary. and G. NJ.
Vernon and T E. Haninett, good and
competent witnesses, on the day and
date first in the beginning written as the
date hereof.
NJ. A. CURRIE.
/ E. S. CAYCEa
i w. H. SCHEEN.
T. e BIRD.
]. L BREATHWIT.
Attest
C. M. VERNON.