The herald., 1911-12-07

N PANItAs anu the same II
change and alter at pleasure and TO do nj
Other acts and things permitted by law. nj
as snail or may be necessary and proper Il
corporation. '
Said corporation, unless sooner dissolved
IN accordance with its charter, shall eXiSt
ana continue for the period of ninety-nin,
years after the date hereof
The president. or in his absence tba vica
president, shall b. the proper person upor
Mhom CITATION or other legal process shall
ARTICLE II.
The objects and purposes for which thi,
corp1latlOn Is organized, and the nature of
me business TO he carried on by il. are de.
clared 10 be the following. tO-wit. Ia
carry on the business of manufocrrring
buying. selling, pledging. mOrtgaging or i'm.
cuhlhelinS IN any manner the following
named articles, burlap bags. new or second.
hand. Jute twineS. burlapS. yarns. ties. Nay.
or hemp twineS, cotton twines. cotton bags,
machinery for its purposes 10 Dcr gs
agents Tor other parties, firms or CORPORA.
IONS Tor one or any Of the articles set
iOrth IN its purposes and objects 10 re-.
celVe. etc. on commission and to sell the
same and generally to hold and exercise ain
Sllch Incidental powers and privileges rrla.
I'VE 10 the object heretofore set forth. and
10 cary on any other business incidental or
pertaining TO Its purposes.
ARTICLE Ill
The capital stock of said cornorafion shall
be two hundred and fifty thousand dollars
divided into and represented bv 300 shares
OF Inc sum OF one hundred dollars each.
which said stock shall BE- paid for in cash
at the time of the substitution. or Such in
NIaIlnentS as the board Of directors may
name, or the same may he issued ar nor
less than par. in payment or exchange for
property, rights or rights actually received
or purchased by said corporation. or the
same may BE- issued, full paid. for money
advanced and for such other valuable con
SldtrdtIonS or services as the board Of di-
r'ttors or SAID corporation may determine !:
provided. That no stock shall be issued until
the consideration therefor has been received
by the said corporation further. stock NAV
DE lSSned not less than par. for the pur-
poses ana consideration of acquiring title
ana good wills 10 any into any firm. com
panE corporation or individuals. in further
anCe OF the purposes OF this corporation.
ANY stakeholder NAV assign or transfer
sell or pledge his stock in this corporation,
without nrSt Offering same 10 the CORPORA
ton or other members thereof. The stock Of
said corporation may be transferred without
entry thereof on the company'S books. and
purchasers shall have a valid title
thereto. provided Endorsement of the sale.
transfer or assignment shall be inscribed
on the back thereof. and the holder or pur-
chaser thereof shall have the right ar any
time 10 cause his name TO he inserted on the
corporations books provided for stockhOld-
and until so done. the liability by this
corporation shall extend TO only such re-
corded stakeholder.
This corporation shall commence business
as soon as three thousand dollars Of the
stock shall have been Subscribed for
The board Of directors shall have the right
sued.
ARTICLE ".
The corporate powers Of this company
shall he vested in and exercised by a board
directors consisting of three persons. who
'hall he the president. who shall also be the
of said corporation. vice-president
ma treasurer. Two OF said board shall con
'tttute a quorum for the transaction of busi-
less. and their decisions shall be valid cor
Iorate acts. The following persons shall
the first board of directors and
BENJAMIN T. Feitel, president. sec
Nathan III. Feitel. vice-president
Yrs. Myrtle 5. Feitel, treasurer. During
he absence OF the president the vice-presi, |
lent shall act and preside,
Said board shall continue in office until
he, LIST day of October. 1911. on which date
nd thereafter, annually. a board OF direct |
'rS shall be elected on the 1St day Of Octo- |
'er or each year, unless same should be "a
Holiday. when the election shall be held on
he next legal day thereafter.
Inc board OF directors shall send notice bv
nail TO each recorded stakeholder of such
leetlngs ar their last known address. And
BOARD or directors shall appoint one or
more stockholders TO preside at such cleo
as commissioners. In failure of the AT
enhance of such commissioners or commits
Toner. the president shall make an appoInf-
1ent TO fill the vacancy. Any failure from
cause whatever to elect directors the
ay named for that purpose shall not dis
Owe the corporation. hut the directors then
n office. as well as the officers of said com
any. shall hold over until successors are
hosen.
At every election and meeting each stock
shall be entitled TO vote each share
I stock registered in his name. and may
Ote by proxy.
After each election the board OF directors
hall elect from their own number the Off
ers or said company.
ARTICLE V.
The board OF directors shall have full
over to NIL vacancies in their number
iused by death or resignation or otherwise
,om among the stockholders or outside of
ne corporation.
The said board shall have full control OF
lie property of this company, shall so CON
net, manage and use the same as In their
they deem fit. and that is con
stent with the objects of this company. or
he welfare of the same.
The said board Is further authorized 10
anne and adopt such bylaws, rules and
as the affairs and business OF
lie corporation may require. and il NAV
necessary for the conducting and man
cement thereof; provided the same shall
IT conflict with this charter. or with the
VS. OF the state, or of the United States.
ne board is further authorized. without
hing on the stockholders for assent, to
irchase. buy, sell. pledge or otherwise ac-
lire any interest in any firm company, cor
'ration or individual businesses, with the
'od VIII thereof for cash or stock In this
operation.
The said board shall elect or appoint a
reman and such other officers. agents. en-
oyeeS, servants and clerks as IL NAV deem
'cessary for the conducting OF the business
the corporation, fix their compensation,
rm or service. with the right to dismiss
at the boards pleasure. and said
ard shall have the right to fix and de-
the salaries OF the several officers
rein provided.
The said board shall have the right to
with banking corporations or
ms or individuals for the issuance to the
mpany of letters of credit or standing, to l
yer whatever purchase the said corpora
IN may bargain or make in this country
some foreign country shall likewise have
e power to negotiate loans in the name of 1
Is corporation. and issue proper certif- .
ties or notes therefor. I
ARTICLE VI. .
This charter may be changed, modified or |
lended, the capital stock increased or de- =
eased, or this corporation may be dis ,
wed, at a general meeting of the stock [
lders convened for the purpose, with the
stock. whether present or represented at
rh meeting. !
days prior notice of such meeting l
all be given in any daily English news I
per published in the city.
In case or dissolution or termination of
Is corporation by limitation of its char I
or from any cause, the liquidation Of It's
airs shall be conducted by two commits =
ners, selected from the stockholders or 0
with like assent, and at a meet I