The herald., 1911-11-02

ognize the holder OF any such stock unless.
and until the same Is registered on said
stock book.
No stakeholder shall have the right 10
sell his stock without first having offered
IL, in writing. at its book value, to the
directors of this corporation twenty (2Ol
days previous to the contemplated sale %
said stock, and IL the directors OF this
corporation, when said stock is offered TO
them at its book value, desire TO buy It,
purchase shall be made on behalf Of the
corporation, and the said stock shall then
and there become treasury stock 10 be dis
posed OF as shall be determined by the
board OF directors, and to that end this
corporation shall have full right, authority
the same as treasury stock, as hereinbe
fore set out. and the same right and power
shall vest In the corporation should the
stock be offered on the market, and should
the directors desire 10 acquire the same on
behalf OF the corporation, and TO hold the
same as treasury stock TO be disposed of
thereafter as shall be determined by said
board of directors.
ARTICLE V.
All the corporate powers OF this corpora-
tlon shall be vested in and exercised by a
board OF directors composed OF three (3l
STOCKHOLDERS, two 90 OF whom shall CON
stitute quorum In the transaction OF bust
ness, which said directors shall be elected
at a general meeting OF the stockholders
to be held ON the second Monday in Janu-
airy OF each year, and notice Of said cleo
tion shall be given by letter TO be writ
ten ten Q0) days previous to the date Of
said election. and sent to the last known
address OF each OF the said stockholders
But election OF directors may take place
AT any time upon special meeting called
by majority OF the stock outstanding, upon
a ten-day notice, stating specially the o.
ject OF said meeting.
The said board OF directors, at its first
meeting after each annual election shall
elect from Its members a president, vice
president, and said board shall appoint a
retaTy-treaSurer.
The said board Of directors NAV fill all
vacancies occurring on said board and arts
ing from any cause whatsoever
Al the first meeting Of the stockholders
OF this corporation, held under its charter
the officers and directors of the company
shall be elected, and such Officers and di-
rectOrs shall hold their position as officers
ana directors until the first regular meet
ing OF stockholders, on the second Monday
OF January, 1913, shall be held. or unti!
their successors shall have been duly elected
and qualified. Until such election in 1913
the following shall constitute the Officers
or the corporation Richard s. Alcus pres
ldent: Charles ii. Patterson, vice president
treasurer; and the first board Of directors,
70 mold office also until said election in
1913, shall be Richard s. Alcus Charles III
Patterson and Henry Alcus.
ON the second Monday in January, begin
ming In 1913, shall be the regular day for
the meeting of stockholders to elect direc-
tors; the failure to elect directors on the
day specified, from any cause or on any
postponed day, shall not dissolve this cor
poration, but the officers and directors then
In office shall hold over until their success
sors shall have been duly elected and quail
fed.
In the event Of failure to hold election
on the day stipulated the president shall
call new meeting on a ten-day notice, as
herelnbefore set out, as soon thereafter as
practicable.
At all elections and meetings of stock
holders, each stakeholder shall be entitled
TO one vote for each share OF stock regis
tered in his name, and such registered stock
holder may vote In person or by proxy. All
elections shall be by ballot