The herald., 1911-06-01
ARTICLE V.

| All the corporate powers Of this corpor
| atlon snail be vested in and exercised by IN,
board OF Directors, composed of five (5l
stockholders. 10 be elected annually ON RI,
nrSt Monday Of the month of Nav of eacI
| year commencing on the first Monday of Nh,
month OF May. 1913. This said election
small Smaar 9e by ballot, and conducted under thu
| supervision of two 90 commissioners n
De appointed by the Board of Directors 20,
| mat purpose at each election Thirty (3Ol
| Gays prior notice must be given by the sec
retary or the company, in writing, to each
shareholder. by mailing the same nv roo
istered mail TO the last known address n,
| place or business, as left BY the said share
| holder, or shareholders. with the secretary
OF me company. Each shareholder shall he
| entitled to cast one vote in person or by
proxy, for each share of stock owned h,
| MIN, and the majority OF votes cast shall
elect. The board thus elected shall serve
ana continue in office until their successors
1,ai nave nave Deen duly elected and qualified
ne IaiIure TO hold an annual meeting or
10 eject directors on the date above snecI.
ned, snail not dissolve the corporation hnt
me then directors shall continue TO hold
h nerr Gnlce untii their successors shall have
peen elected, and qualified All vacancies oc.
curing In said Board OF Directors shall he
niIed by majority vote of the remainino
directors Three (3) Of the directors shall
constitute a quorum for the transaction of
any business The said Board of Dire~
Tors snail make all bylaws, rules and roo.
uIailohs, Tor the proper government OF the
business and affairs OF the corporation ana
a alIr ana amend and change the same AT
pressure They shall have full power 70
Duy and to sell, mortgage, pledge. and Iaoso
any ana all or the property Of the said cor
p9ratlon, except as hereinafter Restricted
scte In their Judgment they deem such
thorized TO issue bonds and other obl,ao-
IONS, and to assume the same for this com.
pdny 10 grant and acquire all leases con
ana %'' or anu a agreements, and to perform any
iacts "a 10 necessary TO carry out the OBJ
tiOn is formed ' eorpora-
me Board OF Directors shall not mako
any safe OF property. or grant apy mort
10 he om , same where the amount Of property
W oe Solu, or mortgaged, shall be more tba1
one-haiI or the entire holdings and owner
sup Oh the company, without first ohtainin,
me consent of the owners of at least thraa
rno ons oI me capital stock outstanding. at
d Hleetlng OF the stockholders held for tbat
purpose; and the holding Of such a maatjna
nd! De waived and the consent to sell o1
tiSage given in writing, provided Ali the
Roo ehloi9ers sign said consent, or notify tbe
BOARD OF Directors of their consent to msLe
such sale or mortgage The Roard ~ M
Iectors shall have full power and autborit
~ hlre, or discharge all officers. agents
sfion ana other employees OF said corpor,
aIlon, and to fix their SALARY. or Waves
a. ana require any or all of them TO give honS
IN IN suca amount as the board NAV deem Ar
= I ne 0tneers of this corporation shall he a
paesaaent' yice-president, a treasurer and
49, oeary, ana a general manager. All Of
wnom shall be elected by the Board NJ NJ
pS, at Its first meeting after its own |
e thsir The Board Of Directors NAV at
Inelr discretion, consolidate any two ofi,cas
5aoD, one Tor such period Of time as It NAV
1t may elect as secretary Of this cor
Pany person not a stakeholder therein
me hrst Board Of Directors Of this cor.
9oratlon shall hold office until the second
Jay OF May in the year Of our Lord. one
hereafter until their successors are dniu
,lected and qualified, and said board shall
,onsist Of Victor Won Schoeler. Don Sasesv
,Gsn Ut; Prim, John D. Grace and VIM
lent, Victor Won Schoeler, as vice nres;de.t
treasurer. ' eSausiand,