The herald., 1911-07-06

conducted by board of directors, composed
OF not less than three and not more than
nv sIockholders, three of whom shall CON
sltuIe quorum no member of said hoard
10 own or subscribe for less than fye shares
of stock. Said directors shall be elected by
ballot at a general meeting of the stock
holders on the second Monday Of September
l9l2, and annually thereafter on that dav
Every stakeholder shall be entitled either
N person or by proxy, to one vote for every
share owned by him. All elections shall he
held under such rules and regulations a.
may De determined by said board of direc-
tors; Ten days written notice directed
10 Ihe iaSt known address Of every Stockhold-
er snail be given of all elections
The directors thus elected shall continue
IN once Tor one year or until their success
sors shall have been elected and qualified
any failure to elect directors or officers shall
not be considered as a forfeiture of this
charter Any vacancy occurring in the
BOARD OF directors shall he filled by the re-
maining' directors for the unexpired term
majority of the stockholders al IA meeting
shall constitute a quorum for the transact
ton OF any business.
Said board of directors shall. at its first
meeting after its election. elect out of lis
own members. president, IA vicc-prcsident
and retary-treaSurer: and said Hoard
shall hav" the power in its discretion ="
unite two or more offices and The same Ia
confer upon one person.
said board shall have the power To an
point ana dismiss such officers, agents. clerks
ana 10 NIX their compensation.
Said board is specially vested with the
power ana authority To mortgage or pledge
the property, real and personal of the cor
roratlOn, as they may deem advisable. 10
purchase, hold, own. lease, mortgage pledge
sell and dispose OF real estate. improved and
unlmproYod; To execute mortgages issue
notes, bonds and other evidences of debt.
and 10 borrow and lend money on same 10
ana from individuals, firms and corpora
lions, at such times, for such price and
upon such terms and conditions as they may
deem advisable. This power to buy and
sell rea! 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 NAV deem
MT and proper. and amend, alter and change
the same a pleasure.
No contract shall be signed without the
authorization of the board of directors.
The following stockholders are hereby do
| clared To be the first board of directors Of
| this corporation, all of whom shall hold Of
F.! nee until the second Monday of September
1912. or until their Successors shall have
| been elected and qualified: James ORourke
Walter '. ORourkp, James !. ORourke, Al
bert l.. O'ROurkc.
| Until the second Monday of September.
| 1872. or until their Successors shall have
been elected and qualified. the following
named persons shall be the officers of this
! corporation James O'ROurkc, president
lanes j. OROurkc. vice-prcSident; Walter
| V. O'Rourke, secretary treasurer.