The herald., 1912-03-28

riyatiyes and produce Of all kinds to oper-
ate saw mills and to sell the produce and
residue or waste thereof or to further use
and manufacture the same, and to pull
stumps and clear land, whether In connec-
ton with such business or apart from II {;
to buy, sell and lease real estate, TO operate
tram roads and barge lines or other vessels,
in connection with the carrying on OF its
business: TO conduct a general merchandise
business I'm connection with said business,
and generally to engage IN any business IN
cident TO or conveniently necessary to or
connected with the operation of the busl-
ness above mentioned.
ARTICLE III.
The president, or in his absence or ina
bility to act, the yice-president, or, in case
OF his absence or inability, the secretary
shall be the proper person upon whom all
citations or legal process shall be served.
ARTICLE ".
The capital stock OF this corporation is
| hereby fixed at the sum OF fifty thousand
| $3.50, 900. O0I dollars, divided into five hun
dred shares of the'par value of one hundred
! ISlO0 OOI dollars each. Said shares OF
stock shall he paid for by the subscribers
| thereto as shall he required by the board
| Of directors, and the stock may he issued III
| payment OF property acquired by the cOrpO
| ration or in compensation for services rend
cred This corporation shall be authorized
| to begin business as soon as hve thOuSanC
| )$5, ,0O0.0OD dollars or more, OF the capita
stock shall have been subscribed for. Any
stockholder may sell, assign or transfer hi
stock in this corporation, provided thirty
| 900 DAYS prior written notice of such In
tentiOn to sell, assign or transfer the SAM SAM
be given the company, and the stakeholder
| thereof shall have the first privilege OF pur
| chasing the same; after which notice tn
said stock may be sold in open market. !
prior lien on all shares OF stock shall b
retained by the company on the stock OF an,
shareholder for any Indebtedness secured o
unsecured. however evidenced or created. du
at any time TO the company by the holde
of such stock. And all transfers Of stoc
: shall De transferred subject to this clause
ARTICLE V.
All mowers OF this corporation shall b
vested in a board Of directors composed q
not less than three CD stockholders The
shall be elected on the first Monday OF D'
cember in each year, commencing l9l2,
a general meeting convened for that pul
pose. after ten days previous notice In wri
ing TO each stOCkhOlder owning stock stan,
ing in his name on the books OF tae CORP,
ration. and until such time the followln
named stockholders are hereby named as IN
first board of directors, and who shall hol
their Office and exercise their functions unit
their successors are elected, viz: George
Mason, H. f. Clifton. w J. I'Engle and J
Wood OF whom Geo. +. Mason shall !
president. l.. T.. Clifton shall be vice-preS
dent. and +. Wood secretary ana treasure
secretary and treasurer or each OF such
ticeS NAV be held by different person.
The election of the board OF director
: shall be by ballot and each stOckholder sha
: be entitled TO one vote, either in person ,
by proxy, for each share of stock owned |
him. and a majority OF the votes cast sha
!, elect The board OF directors shall, imm
! diately after their election, elect from the
! number president. a vice-president, Sc
! retary and treasurer.
u The said board OF directors shall elect al
: employ any and all employees, manage
5 and clerks Of the corporation they may dee
! necessary for the proper conduct OF its bus
{ ness, and may fix their compensation, al
= remove or dismiss them at pleasure.
ARTICLE VI.
{ This charter may be amended or alter
L bv the stockholders at a general meetil
;, | convened for that purpose, after ten day
u written notice to each stakeholder: or IN
!. CORPORATION may be dissolved with the a
q sent OF two-thirds OF the capital stock repr
e scnted at such meeting. In case OF diss
, LUTON the affairs Of the corporation shf
!. be closed and liquidated, as rapidly as pc
u sible, by two or three liquidatorS, appoint
a or elected by the stockholders at such me-