The herald., 1911-05-11
ARTICLE V.

All OF the corporate powers Of this cor.
pOra ton, and the management and control
OF its business shall be invested In and
exercised by a BOarfd OF Directors TO be
composed OF three members. any two or
whom shall constitute a quorum for the
transaction OF all business, and their de
ciSions shall be valid, corporate acts. The
following persons shall constitute the first
Board Of Directors, viz. a: John Mailhcs, Jo-
seph T. Simone, Salvatore Pellegrinni.
Each Board of Directors shall elect from
among their number its own officers, as
follows: A president, vice president and
a secretary, who shall also be treasurer.
The Board Of Directors shall have the
power to determine the manner and the
causes for which vacancies may be de-
clared on said board.
No person shall be- eligible as a member
Of the Board of Directors unless a stock
holder OF this corporation.
Said Board of Directors shall continue
in office until the first Wednesday in April,
1912. on which day, and annually there
after a Board OF Directors shall be elected
election shall be held under such rules and
regulations may he provided by the
Board Of Directors. Any failure from any
cause whatever to elect a Board of Direc-
tors on the>> day named shall not dissolve
the corporation. but the Board OF Drec-
tors then i'm office shall hold over until
their successors are chosen. At every cleo
tion and meeting of the stockholders, each
only. regardless Of the number OF shares
-p.r stored in his name. and may vote in
re- ,'''t -.-s-lv, and not by proxy. Any va
Inv tors thetrrng on said board shall be
70 their SUE remaining directors by the ap-
and in tina some qualified stakeholder
" meetings sha, until his successor is elect
ed erected. Nolal election. The Board OF
Dire,f all meeth have the right TO appoint
or disc TO each clerks. agents, managers.
and other e1ail, tees as may be deemed nee
esSary or ekad rent. and 10 make. change
and amend all bylaws. rules and regula-
| lions for the proper conduct and manage
ment Of the affairs, business and concerns
OF said corporation, not in conflict with
this charter or the laws of this state: pro-
vided that the president may suspend any
employees in his discretion. pending the
action Of the Board OF Directors.
All warrants, checks. drafts, notes or
other obligations of this corporation shall
be signed by the secretary-treasurer.
ANY officer or director may be- removed by
a majority vote of the stockholders.
| When all the directors consent thereto,
the notices otherwise required for holding
meetings may be dispensed with.
ARTICLE VI.
Meetings may he called at the pleasure
Of the president or upon written request
OF a majority of the stockholders.
All meetings OF the stockholders. whether
general or special. shall be held only after
ten days written notice to each stock
holder.
| ARTICLE VII.
| No stakeholder shall he held liable OF
| responsible for the contract or faults OF
| said corporation in any further sum than
| the unpaid balance due the corporation on
the shares owned by him. nor shall any
mere mfOrmality in organization have the
effect Of rendering this charter null. or ex
posing a shareholder 10 any liability be-
yond the amount remaining unpaid on his
subscription to the stock.
| ARTICLE VIII.