The herald., 1911-10-26

OgniZe the holder OF any such stock unless
and until the same Is registered on said
stock book.
No stockhOlder shall have the right to
sell his stock without first having offered
II, In writing, at Its book value, to the
directors OF this corporation twenty coo
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
and power to acquire Its stock, and TO hold
the same as treasury stock, as herelnbe
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 TO 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
tion shall be vested in and exercised by a
board or directors composed OF three 81
stockholders. two (2D OF whom shall con
Sutute quorum in the transaction OF bust
ness, which said directors shall be elected
at a general meeting OF the stockholders
10 be held on the second Monday in Janu-
airy OI edCn year, ana notice or SAID cleo
ton shall be given by letter to be writ
ten ten (10) 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 a special meeting called
by majority OF the stock outstanding, upon
a ien-day notice, stating specially the OBJ
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 q
secretary treasurer.
The said board OF directors may I'LL all
vacancies occurring on said board and arts
ing from any cause whatsoever.
AT the first meeting OF the stockholders
or 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 until
their successors shall have been duly elected
and qualified. Until such election in 1913
me following shall constitute the Officers
or the corporation: Richard = AlcuS. pres
ldent; Charles ii. Patterson, vice president,
treasurer: and the first board OF directors.
10 hold office also until said election in
1919 snail be Richard =. Alcus Charles IL
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 drec-
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
hereinbefore set out, as soon thereafter as
practicable.
At all elections and meetings OF stock
holders, each stakeholder shall be entitled
10 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