The herald., 1911-05-18
ARTICLE V.

|
Board OF Directors, composed of five (5l
stockholders, to be elected annually on IN,
| hrst Monday Of the month of MAY of eact
year commencing on the first Monday of tbs
| shall be by ballot, and conducted under m,
| supervision Of two (2) Commissioners n
be appointed by the Board of Directors 70,
that purpose at each election. Thirty (3OC
| days prior notice must be given by the sec
rotary Of the company, in writing. 70 each
| shareholder, by mailing the same nv ray
| istered mail to the last known address n,
place OF business, as left by the said share.
noia es' or shareholders, with the secretary
OF the company. Each shareholder shall he
entitled to cast one vote in person or nv
proxy, for each share Of stock owned nv
MIN, and the majority Of votes cast shall
eieet. Inc board thus elected shall serve
| ana continue in office until their Successors
snail have been duly elected and ouaIItied
me failure to hold an annual meeting or
70 eject directors on the date above snaci.
nee. ueu' snaI not dissolve the corporation, but
the then directors shall continue 10 hoI5
thefr ONCE until their successors shall have
Deen elected, and qualified. All vacancies oc.
curing In said Board of Directors shall he
IIIed by a majority vote Of the remaining
constItnts in nS, 0S) OF the directors shall
any business The said Board OF Dirac
Tors shall make all bylaws. rules and re9
nlatlons, for the proper government OF the
oita, SIS ana anslrs OF the corporation, and
pleasure. They shall have full mower ~
ouy ana 10 sell, mortgage pledge. and lease
any and all Of the property of fhe said co.,
i,h, except as hereinafter restricted.
whenever IN their Judgment they deem snch
acts necessary and proper. They are ar
tnnorlzed 10 issue bonds and other oblioa
IONS ana TO assume the same for this com
pany 10 grant and acquire all leases. CON
IIaSts ana agreements, and to perform any
and all acts necessary TO carry ONT tho a nf
!ScIS and purposes for which this cornora.
ton Is formed 'oi pora
The Board Of Directors shall not mako
a. 50, vi property, or grant any mort
gage on same, where the amount OF nronerty
10 DE sold, or mOrtgaged, shall be more than
mar or the entire holdings and owner
mp oI the company, without first obtaining
snvr tpnSeHt OF the owners of at least three.
lourths or the capital stock OUTSTANDING ~
meetlng or the stockholders held for that
purpose and the holding Of such a maatjna
may he waived and the consent to seIi nS
n torIgage given In writing, provided ali the
stockholders sign said consent or notiry az
Board of Directors of their consent 70 me az
n Suon sue or mortgage. The Board of nj
reetors shall have full power and autboritr
~ III hire, or discharge all officers. agents.
clerks and other employees OF said cornos
alton. and TO fix their salary or ,'apl'o
,nu require any or all of them TO Give hond
In sucn amount as the board NAV deem AZ |
ne oHcers OF this corporation shall he .
sacrater' siee-president, treasurer and
sg,SIetary, ana a general manager All of |
Mnom snail be elected by the Board of Di. |
Itsctors, at us first meeting after its own
Election. The Board of Directors NAV OF
,neir discretion, consolidate any two offices
mo one Tor such period Of time as 1t NAV
IL may elect as secretary of this COM
S Fan person not stakeholder therein.
Ine nrst Board Of Directors of this cor
,oratlon shall hold office until the second
lay OF May In the year Of our Lord. one
housand nine hundred and thir<een. and
hereafter until their successors are duly
lecteu ana qualifed, and said board shall
onsist OF Victor Won Schoeler Don "a trarx
Ohm TT. Prim. John d. Grace and VIM
with Don Caffery, as presi.
ent, Victor Won Schoeler, as vice-president
ma general manager, and VIM. McCausland.