The herald., 1911-07-13
ARTICLE ".

All the corporate powers of this CORPORA
ton shall be vested in and the manage
ment and control of its business and affairs
conducted by a board of directors. composed
of not less than three and not more than
hve stockholders three of whom shall con-
Stltute quorum no member of said board
TO own or subscribe for less than five shares
of stock. Said directors shall be elected by
ballot at "A general meeting Of the stock
holders on the second Monday of September
1917. and annually thereafter on that day.
Every stockhOlder shall be entitled, either
In person or 10y proxy, TO one vote for every
share owned by him. All elections shall be
held under such rules and regulations as
may be determined by said board of direc-
tors Ten days written notice directed
10 the last known address Of every stockhold-
er shall he given of all elections.
The directors thus elected shall continue
IN ONCE for one year or until their success
sors shall have been elected and qualified /:
any failure 10 elect directors or officers sha If
not be considered as "A forfeiture of this
charter. Any vacancy occurring in the
board of directors shall be filled by the re-
naming directors for the unexpired term.
\ majority OF the stockholders at a meeting
shall constitute a quorum for the transac-
tion Of any business.
Said board of directors shall. at its first
meeting after its election. elect out of its
own members, president, a vice-president
ana a Secretary-treasurer; and said board
shall have the power in its discretion 20
unite two or more offices and the same TO
confer upon one person.
Said board shall have the power to an
point and dismiss such officers agents, clerks
and employees as may be deemed necessary
and to nix their compensation.
Said board is specially vested with the
power and authority to mortgage or pledge
the property, real and personal, of the cor
poration, as they may deem advisable: TO
purchase, hold. own, lease, mortgage pledge,
sell and dispose of real estate. improved and
Gnimpr0ved; 10 execute mortgages, issue
notes, bonds and other evidences of debt
and TO borrow and lend money on same to
and from individuals, firms and corpora
tons. at such times, for such price, and
upon such terms and conditions as they NAV
deem advisable. This power to buy and
sell real estate, to borrow and lend money
execute mortgages, issue notes. bonds and
other evidences of debt. and all the powers
herein granted to said board Of directors
shall be exercised by said board without the
necessity Of referring to the stockholders for
special authorization.
Said board Of directors shall make all the
rules, regulations and bylaws for the gov
eminent and control of the business and
AFFAIRS OF this corporation as they may deem
NJ and proper. and amend, alter and change
the same at pleasure.
No contract shall be signed without the
authorization OF the board of directors.
The following stockholders are hereby de-
Jared TO be the first board OF directors Of
his corporation, all Of whom shall hold Of
ice until the second Monday OF September
l?l2, or until their successors shall have
leen elected and qualified: James O'ROurke
Walter ': OROurke, James J. O'ROurke Al
bert l.. O'ROurke.
Until the second Monday of September
1912, or until their successors shall have
'een elected and qualified. the following
FAMED persons shall be the officers Of this
corporation: James O'ROurke, president
ameS j. ORourke, vice-president; Walter
!. O'Rourke, secretary-treaSurer.