The herald., 1911-08-03
ARTICLE ".

The capital stock of this corporation is
hereby fixed at the sum of fifty thousand
$3.50, 100000 dollars, divided into and rep
resented by five hundred shares of the par
value of one hundred dollars per share. Said
stock shall be represented by certificates of
stock, signed by the president and the sec
retary-treaSurer, and in the absence of the
president, by the vice president of the cor
pOratiOn. Said stock shall be issued at such
times, in such amounts, for such price and
upon such terms and conditions as the
board of directors may see fit and proper,
and may be paid for in money, services or
property as the board of directors may think
best. All shares shall be full paid and non
asseSsable. No transfer of stock shall be
binding upon the company unless made on
the books of the corporation. No stock
holder shall have the right to sell or other
wise dispose of his stock in this corporation
without first Offering same to the corpora
ton at the book value thereof, as determin-
ed by the books of this company: and this
corporation is authorized TO purchase said
stock at said book valuation for the benefit
of the other stockholders Of the corporation.
ARTICLE V.
All the corporate powers OF this corpora
ton shall be vested in and the management
and control of its business and affairs con-
Quoted by a board of directors, composed of
not less than three and not more than five
stockholders, three of whom shall constitute
a quorum no member of said board to own
or subscribe for less than one share Of stock.
Said directors shall be elected by bal
lot at a general meeting of the stock
holders on the second Monday of Sep
TENDER, 1912, and annually thereafter
on that day. Every stakeholder shall
be entitled, in person or by proxy, to one
vote for every share of stock owned by him.
All elections shall be held under such rules
and regulations as may be determined by
said board Of directors. Ten days written
notice, directed to the last known address of
every stakeholder shall be given of all cleo
lions.
The directors thus elected shall continue
In office for one year or until their sue
oeSsors shall have been elected and qualified
any failure to elect officers or directors
shall 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.
A majority of the stockholders at a meet
Ing shall constitute quorum for the trans
action of any business.
Said board Of directors shall, at its first
meeting after its election, elect out of its
own members a president a vice president
ana secretary treasurer; and said board
shall have the power in its discretion to
unite two or more Offices. the same to con-
fer upon one person. Said board shall have
the power to appoint and dismiss such Off
GERS, agents. clerks and employees as they
may deem advisable and to fix their COM
pensation.
Said board of directors IS specially vested
with the power and authority to mortgage
or pledge the property, real and personal
OF the corporation as they NAV deem At and
proper; to purchase. hold, own. mortgage,
pledge, lease and dispose of real estate
improved and unimproved, city or country
to execute mortgages issue notes, bonds and
other evidences of debt. and TO borrow and
lend money on same to and from indiyid-
uals, firms and corporations, at such times
Tor such prices and upon such terms and
conultlons as they may deem advisable This
power to buy and sell, mortgage, pledge and
dispose or property, real and personal: to
borrow and lend money, execute mort ges
notes, bonds and other evidences of debt
anu anu an tne powers herein granted to said
board OF directors is to be exercised by them
without the necessity OF referring to the
stockholders OF the corporation for special
authorization.
-, Said board OF directors shall make all
the rules, regulations and bylaws for the
government control and management of the
business and affairs OF the Corporation. and
after, amend and change the same at pleas
No contract shall be signed without the
authorization Of the board of directors,
Inc Following stockholders are hereby
deciared to be the first board of directors
office for one year or until .heir successors
s Sia nave been elected and qualified: James
0.n 6ourSe, Walter V. OROurke, James ].
U Rourke. Albert L. O'Rourke
Until the second Monday OF SeptembAr
TT, or until their successor shall have
oeen elected and qualified, the following
udmed persons are hereby declared to be
me ofhcers of this corporation lanes
" Rourke, president; James ]. O'Rourke
VIC. president; Walter V. ORourke. secre'
tary-treasurer Seeie
ARTICLE VI
rms corporation shall begin business and
~ ~, gong concern as soon as ten thousand
doiiars OF its capital stock shall have haan
subscribed and paid for.
ARTICLE VII.
No stakeholder shall ever be liable o-
responsible for the contracts, faults or debts
nor shall any mere informality in frs or
ganlzation have the effect of rendering this
charter null or Of exosing any stockbolder
TO any liability, beyond the unpaid balance
Que on the shares owned or subscribed for
by him. eu AoI
ARTICLE VIII.
This act OF Incorporation shall be changad |
nodined or altered, or this corporation shall
,e dissolved, with the assent of two-thirds ~
ne stock or the corporation Represented AZ a
General meeting called for that purpose and
lfter at least ten days written notice Al
ected to the last known address Of every