The herald., 1911-08-17
ARTICLE ".

The capital stock OF this corporation Is
hereby fixed at the sum Of fifty thousand
$3.50, 100000 dollars, divided into and rep
resented by five hundred shares of the par
value of one hundred dollars per share. Said
stock shall he represented by certificates of
stock, signed by the president and the sec
retary-treasurer, and in the absence OF the
president, by the vice president Of the cor
pOratiOn. Said stock shall be issued at such
times, in such amounts, for such price and
upon such terms and conditions as the
board of directors may see fit and proper,
and may be paid for in money, services or
property as the board of directors may think
best. All shares shall be full paid and nom
assessable. No transfer of stock shall be
binding upon the company unless made on
the books of the corporation. No stock
holder shall have the right TO sell or other
wise dispose Of his stock in this corporation
without first offering same to the corpora
ton at the book value thereof, as determin-
ed by the books of this company; and this
stock al said book valuation for the benefit
Of the other stockholders of the corporation.
ARTICLE V.
All the corporate powers of this corpora
ton shall be vested In and the management
and control of it's business and affairs con-
Quoted by a board Of directors, composed OF
not less than three and not more than five
stockholders, three Of whom shall constitute
a quorum no member of said board to own
or subscribe for less than one share Of stock.
Said directors shall be elected by bal
lot at a general meeting of the stock
holders on the second Monday Of Sep
on that day, Every stakeholder shall
be entitled, In person or by proxy, to one
vote for every share OF stock owned by him
All elections shall be held under such rules
and regulations as may be determined by
said board of directors. Ten days written
notice, directed to the last known address OF
every stakeholder shall be given of all cleo
lions.
The directors thus elected shall continue
In Office for one year or until their sue
cessors shall have been elected and qualified
any failure to elect officers or directors
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 a meet
Ing shall constitute quorum for the trans
Said board of directors shall, at It's first
meeting after its election, elect out of its
own members president, vice president
and a secretary treasurer; and said board
shall have the power in Its discretion to
unite two or more Offices, the same to con-
fer upon one person. Said board shall have
the power to appoint and dismiss such Off
GERS. agent, clerks and employees as they
may deem dvisable and to fix their COM
pensa ton.
Said board of directors Is specially vested
with the power and authority to mortgage
or pledge the property, real and personal.
of the corporation as they may deem fit and
proper; 10 purchase. hold, own, mortgage,
pledge, lease and dispose of real estate
improved and unimproved, city or country
TO execute mortgages issue notes, bonds and
other evidences OF debt, and to borrow and
lend money on same TO and from individ-
uals, firms and corporations, at such times.
for such prices and upon such terms and
conditions as they may deem advisable. This
m hrNHT and sail H.
dispose of property, real and personal: to
borrow and lend money, execute mortgages.
notes, bonds and other evidences of debt,
and all the powers herein granted to said
board of directors Is to be exercised by them
without the necessity Of referring TO the
stockholders of the corporation for special
authorization.
-, Said board of directors shall make all
government, control and management OF the
business and affairs OF the corporation, and
ure.
No contract shall be signed without the
authorization Of the board of directors.
Inc Following stockholders are hereby
declared to be the first board of directors
OF this corporation, all OF whom shall hold
shall have been elected and qualified lanes
ORourke, Walter V. O'Rourke. James II
ORourke, Albert L. O'Rourke.
untll the second Monday Of September
nave
been elected and qualified, the following
named persons are hereby declared TO h
the officers OF this corporation: James
ORourke, president; James j. O'Rourke
vice president; Walter v. O'Rourke. secre,
tary-treasurer
ARTICLE vi.
This corporation shall begin business and
De going concern as soon as ten thousand
dollars OF Its capital stock shall have been
subscribed and paid for.
ARTICLE VII.
No stakeholder shall ever be liable or
responsible for the contracts, faults or debts
nor shall any mere informality in its or,
sanitation have the effect Of rendering this
charter null or of exosing any stockholder
to any liability, beyond the unpaid balance
due on the shares owned or subscribed for
by him. -o'
ARTICLE VIII.
This act OF Incorporation shall be changed.
modified or altered, or this corporation shall
be dissolved with the assent of two-thirds NJ
the stock Of the corporation represented at a
general meeting called for that purpose. and
after at least ten days written notice. di-