The herald., 1911-05-25
ARTICLE V.

All the corporate powers of this corpor
ation shall be vested In and exercised by the
Board OF Directors, composed of FIVE (5)
sstockhoIders, to be elected annually on the
nrst Monday Of the month Of May Of each
year commencing on the first Monday of the
month OF May. 1913. This said election
shall be by ballot, and conducted under the
supervision Of two (2) commissioners. 10
be appointed by the Board of Directors for
that purpose at each election Thirty C3O(
| days prior notice must be given by the sec
| rotary OF the company, in writing to each
shareholder. by mailing the same by reg.
lstered mail to the last known address, or
place or business, as left by the said sha re-
holder, or shareholders, with the secretary
OF the company. Each shareholder shall be
entitled to cast one vote in person or by
proxy, for each share OF stock owned nv
him. and the majority OF votes cast shall
elect. The board thus elected shall serve
ana continue In ofice until their successors
shall have been duly elected and oualif,ed
The failure to hold an annual meeting. or
TO elect directors on the date above speci
ned, shall not dissolve the corporation. but
the then directors shall continue to hold
their ONCE until their successors shall have
been elected. and qualified. All vacancies oc
curing In said Board Of Directors shall he
nlled by majority vote Of the remaining
directors. Three (3) of the directors shall
constitute a quorum for the TRANSACTION on
any business. The said Board of Direc
tors shall make all bylaws, rules and reg.
ulations, for the proper government of the
business and affairs Of the corporation, and
alter and amend and change the same at
pleasure. They shall have full mower 70
Duy and to sell. mortgage, pledge, and lease
any and all OF the property Of the said cor.
p0ratlon, except as hereinafter restricted.
s whenever n. IN their Judgment they deem such
AUS necessary and proper. They are au-
tnorlzed TO issue bonds and other obliga-
lions, and TO assume the same for this com
pany TO grant and acquire all leases. con
snd su ana agreements, and to perform any
70
ton is formed. wi poia
The Board Of Directors shall not make
any sale OF property, or grant anv mort
gage on same, where the amount o@ 2-o no..
10 De sold, or mortgaged, shall be more than
ohe-ha!f or the entire holdings and owner
s snip OF the company, without first obtaining
the consent Of the owners of at least three
fourths Of the capital stock ontsta nd,n9 e,
meeting OF the stockholders held for that
purpose; and the holding Of such a meeting
may be waived and the consent to sell o1
StocSpne gwen In writing. provided all the
sn.ocKnolders sign said consent, or notify the
board OF Directors OF their consent TO make
such sale or mortgage. The Board of nj
rectors shall have full power and authority
10 hIre, or discharge all officers agents.
cierks ana other employees Of said corpor
ation, and to fix their salary. or wages
ana require any or all OF them to give bond
IN sucn amount as the board may deem fit
Inc omcers OF this corporation shall be a
Presluent, vice-president, a treasurer and
secretary, and general manager. All of
wnom shall be elected by the Board of Di-
rectors. at Its first meeting after its own
election, The Board Of Directors NAV. AT
tntr ulscretion, consolidate any two offices
deem fit ' II may
lt may elect as secretary of this COM
pany person not a stakeholder therein.
me first Board Of Directors of this cor.
poration shall hold office until the second
day OF Nav In the wear az or To-S ~
thousand nine hundred and thirteen. and
thereafter until their successors are duiy
elected and qualified, and said board shall
consist OF Victor Won Schoeler, Don Caifery.
McCausland; with Don Gallery, as presi.
dent, Victor Won Schoeler, as vice-president
and general manager, and VIM. Mctausland. |