The herald., 1911-12-14

convenience of said corporation may require :
to make and establish bylaws, rules and
regulations for the proper mana cement and
regulation of its affairs, as may be deemed
necessary and proper. and the same To-
change and alter at pleasure and to do all
other acts and things permitted by law. or
as snail or may be necessary and proper To
carry out the objects and purposes Of said
corporation
Said corporation. unless sooner dissolved,
IN accordance with its charter. shall exist
and continue for the period of ninety nine
years after the date hereof:
The president, or in his absence the vice
president. shall he the proper person upon
whom citation or other legal process shall
be served
ARTICLE H.
The objects and purposes for which this
c0rpoIation is organized, and the nature of
the business TO he carried ON nv II arc do.
clared TO he the following to-wit: To
carry on the business OF manufacturing
buying. selling, pledGing. mOrtgaging or in
cumbei!ng IN any manner the following
named articles. burlap bags new or second.
hand. Jute twineS, hurlapS. yarns. ties. flax.
or hemp twineS, cotton twineS. cotton bags.
machinery for its purposes: to act as
agents FOR other parties, firms or corpora
lions Tor one or any of the articles set
forth in its purposes and objects: 10 re-
celVe. etc. on commission and TO sell The
same and generally 10 hold and exercise all
such incidental powers and privileges rela-
tive 10 the object heretofore set forth. and
10 car on any other business incidental or
pertaining TO its purposes.
ARTICLE III.
The capital stock Of aid corporation shall
ne two hundred and fifty thousand dollars
divided into and represented by $500 shares
OF the sum of one hundred dollars each
which said stock shall be paid for in cash
at the time of the subscription or such in
StallmentS rs the board Of directors NAV
name. or the same may be issued, at not
less than par in payment or exchange for
property rights or rights actually received
or purchased by said corporation or the
same may be issued, full paid. for money
advanced and for such other valuable con
>lderatlonS or services as the board of di-
rectorS of said corporation may determine :
provided. that no stock shall be issued until
the consideration therefor has been received
ny me SAID corporation; further. stock may
be- Issued. not less than par, for the pur-
poses and consideration of acquiring titl
ana good Wills 10 any into any firm. com
pany corporation or individuals i'm further
ance OF the purposes Of this corporation
ANY stakeholder may assign or transfer
sell or pledge his stock in this corporation.
without first Offering same 20 the CORPORA
ton or other members thereof. The stock of
said corporation NAV he transferred without
entry thereof on the cOmpanv'S books and
such purchasers shall have a valid title
thereto. provided Endorsement of the sale.
transfer or assignment shall be inscribed
on the hack thereof. and the holder or nur-
chaser thereof shall have the right at anv
time to cause his name to he inserted on the
corporations books provided for StockhOld-
erS. and until so done. the liability by this
corporation shall extend to only such re
corded stakeholder
This corporation shall commence business
as soon aS three thousand dollars of the
capital stock shall have been subscribed for
The board or directors shall have the right
to determine how much stock shall be is
sued.
ARTICLE ".
The corporate powers Of this company
shall he vested in and exercised by board
of directors consisting of three persons. who
shall he the president. who shall also be the
secretary of said corporation, vice-preS ident
and treasurer. Two of said board shall con
Stitnte quorum for the transaction of bust
hess. and their decisions shall he valid cor
porate acts; The following persons shall
officers BENJAMIN F. Feitel, president. sec
retary.:- Nathan II. Feitel. vice-president :
Mrs. Myrtle $. Feitel. treasurer. During
me absence OF the president the vice-presi-
dent shall act and preside.
said board shall continue in Office until
the LIST day Of October. 1911. on which date
and thereafter. annually. a board Of direct
Ors shall be elected on the 1st day of Oct0.
her OF each year. unless same should be a
holiday, when the election shall be held on
the next legal day thereafter.
The board OF directors shall send notice by
mail to each recorded stakeholder of such
meetings at their last known address And
the board of directors shall appoint one or
more stockholders to preside at such cleo.
ton as commissioners. In failure of the 1t
tendance of such commissioners or commits
sioner. the president shall make an appoint
ment TO fill the vacancy. Any failure from
any cause whatever TO elect directors the
day named for that purpose shall not dis
solve the corporation. but the directors then
in office. as well as the officers of said com.
pany, shall hold over until successors are
chosen.
At every election and meeting each stock.
holder shall he entitled to vote each share
Of stock registered in his name, and may
vote by proxy.
After each election the board Of directors
shall elect from their own number the off.
GERS Of said company.
ARTICLE V
The board OF directors shall have full
power to NIL vacancies in their number
caused by death or resignation or otherwise
from among the stockholders or outside OF
the corporation.
The said board shall have full control OF
the property of this company. shall so con-
duct, manage and use the same as in their
discretion. they deem fit. and that is con-
Sistent with the objects of this company, or
the welfare of the same.
The said board is further authorized to
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