The herald., 1912-04-04
ARTICLE III.

The objects and purposes for which this
corporation is organized, and the nature OF
the business to be carried on by il are
hereby declared to be as follows:
To apply for, acquire. sell, buy assign
lease pledge. mortgage or otherwise dispose
or letters patent Of the United States or OF
any foreign country, and all or any rights,
territorial or otherwise Hereunder. 10 an
ply for, hold. sell, assign lease mortgage or
otherwise dispose OF patent rights, licenses
privileges, inventions, trade marks, trade
names and pending applications therefor, re-
iatlhS 10 or useful in connection with any
business of the corporation 10 use, manu-
Iacture, or grant leases and licenses under
any letters patent owned or controlled by
the company, and to expend money in experi-
menting upon, and testing the validity or
value OF any patent rights, the company
may nave, acquire or proposes TO acquire 10
purchase, lease or otherwise acquire lands
ana buildings In this state or elsewhere for
me erection and establishment OF manu-
factory or manufactures and work shops
Win suitable plants. engines and machinery
with a view TO manufacture buv soil i'm,
port and export and generally 10 deal in
ran and railway equipment. either directly
or indirectly, through the medium OF agents
OF 9iherwlSe: and generally 10 do all things
Incidental 10 and necessary TO carry ont The
SAID objects and purposes.
ARTICLE ".
The capital stock Of this corporation Is
hereby nNed at the sum of TWENTY-FIVE thou.
Sand dollars tS2J, 100000. to be represented
by twelve hundred and fifty Il 95OI shares
OK the par value OF twenty dollars $50 OOI
each, and three thousand dollars CS3 600 OOl
OF lhe said capital stock shall he Subscribed
d d paid up before the company can organ
IZe ana become going concern The re-
manning shares shall be issued bv the hoard
or directors as IL shall deem fiji and nroner
All shares OF stock shall be paid for In cash
OF properly or equal value actually received
and must be fully paid for before tho isSn'
ance or the certificates therefor The shares
OF stock shall be worcestershire and when
yer Ihey are issued for property received,
the valuation placed by the board OF direc
tors ON said property shall be conclusive ON
me corporation and all its stockholders
present and future.
The capital stock shall be represented nv
STOCK certificates, transferable only on tho
books Of the company on surrendcr or H.
outstanding certificates or proof OF los.
lnereOr, and under such rules and reouIa
ions ~ as the board OF directors may provide.
IT u CONDITION precedent and one of the
CONDITIONS under which the stock Is issued
that before any holder OF stock shall cy
change, or sell. or offer his stock 10 an
outsider for sale or exchange no shall e.
oher same Tor term OF twenty days IN
the holders or the cOmpany's stock AZ a
price not exceeding its market yaIua Sucb
Tner Snal De made 10 all holders OF stock
by letter addressed to the Spcretorv-troa
urer or this corporation, and each holder
shall be Immediately notified by the said
stScTreeIary-tr easurer and the stock offered
o' ph'Itu lot sale to the rem1 inino
loiders OF such stock who shall he entitled
~ ~ secure same within said period OF twenty
Gays AT such market value In Dronorition -
me number OF shares then held BY them or
IN case any holder OF stock does NOT desire
10 PurchaSe said stock. then the same shall
oe DIVIDED among the remaining holders of
STOCK IN proportion TO their holdings Oniv
IN case the said stock is not purchased with
IN term OF twenty days shall said owner
d dsSiflnS 10 sell same be entitled to dispose
or 1t 10 outsiders.
This corporation reserves n JtSor- a.,
r!ght TO cancel any and all Subscriptions m
STOCK on the failure or default Of tho Sub,
scriber TO pay for same after a ten-day de-
nan, r,anI DE me board OF directors: said de-
mand to be in writing and mailed 70 tha last
S hm9Wn address OF said subscriber. All sub
scTlptlons TO stock are made and received
subject TO this condition. '''e'''u