The herald., 1911-07-27
ARTICLE ~.

All tue corporate powers or this CORPORA
ton shall be vested In and the manage
ment and control of its business and affairs
conducted by a board of directors, composed
OF not less than three and not more than
hye stockholders, three of whom shall con-
stitute quorum; no member of said board
TO own or subscribe for less than five shares
of stock. Said directors shall be elected by
ballot at general meeting of the stock
holders on the second Monday OF September,
1912, and annually thereafter on that day
Every stakeholder shall be entitled. either
IN person or by proxy, to one vote for every
share owned by him. All elections shall be
may be determined by said board of direc-
tors. Ten days written notice directed
TO the last known address Of every stockhold-
er shall be given of all elections.
The directors thus elected shall continue
in office for 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 be filed by the re-
naming directors for the unexpired term
A majority of the stockholders at meeting
shall constitute quorum for the transac-
tion 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
and secretarytreasurer; and said board
snail have the power IN its discretion to
unite two or more offices and the same to
Said board shall have the power to ap-
point and dismiss such officers agents, clerks
and employees as may be deemed necessary
and to fix their compensation.
Said board is specially vested with the
power and authority to mortgage or pledge
the property, real and personal, of the cor
pOration, as they may deem advisable; to
purchase, hold, own, lease, mortgage pledge
sell and dispose OF real estate, improved and
unlmproved; TO execute mortgages. issue
notes, bonds and other evidences of debt,
and to borrow and lend money on same to
and from individuals, firms and corpora
lions, at such times, for such price, and
upon such terms and conditions as they NAV
deem advisable. This power to buy and
sell real estate, to borrow and lend money
execute mortgages, issue notes. bonds and
other evidences of debt, and ali 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 may deem
nj and proper and amend. alter and change
the same at pleasure.
No contract shall be signed without the
authorization of the board of directors.
The following stockholders are hereby de-
clared TO be the first board of directors Of
this corporation. all of whom shall hold Of
flee until the second Monday of September.
1912, or until their successors shall have
been elected and qualified James O'Rourke.
Walter V. OROurke, James J. O'Rourke, Al
bert l.. O'Rourke.
Until the second Monday Of September.
1912, or until their successors shall have
been elected and qualified, the following
named persons shall be the officers OF this
corporation James O'Rourke, president;
James ]. O'Rourke, vice president; Walter
V. ORourke, secretary-treasurer.