The herald., 1912-06-20

ton shall be exercised in and the business
thereof shall be managed by board Of d.
rectors composed Of five stockholders a ma
jority Of whom shall form a quorum to
transact business.
The following named persons shall con-
stitute the first board of directors, who shall
hold their office until the 18th day Of May
shall have been elected and qualified, to-
wit S. III. Hasam, August Stef, ]. r. Behr-
ems r. J. Seghers and Bryan Black. =.
1913, and on the 18th day of May In each
year thereafter, an election Of directors shall
be had by ballot at the Office Of the corpora
hours Of ten O'Clock a. m. and two O'Clock
d. m, of which said election at least ten
days previous notice shall be given by mail
ers of record at their last known place Of
residence.
Each and every holder Of stock shall be
entitled at all elections either In person or
by written proxy, to vote one vote for each
share of stock which they may hold a ma
jority of the votes cast shall be required to
elect.
The board Of directors named In this char
ter and each board which may be hereafter
elected as above provided shall elect from
their own number a president, vice-presi-
Der Of the board of directors Of this corpo-
ration shall have the right to appoint any
stakeholder to act for and represent him at
all meetings Of the said board Of directors
| and shall be entered on the minutes of the
corporation and shall continue in force and
effect until revoked by similar instrument
| in writing addressed to the secretary:treas-
urer of the corporation. The stockholder
| holding such power of attorney from any d.
rector shall, until the power Is revoked as
/ above provided, be entitled to exercise and
enjoy at all meetings of the board Of direc-
tors the same privileges as though he had
been duly elected as director. Any va
cancy occurring in the board Of directors
1 shall hQ filla6 nv tho roma infnp dfrqctOrS for
| the unexpired term.
This act Of Incorporation may be changed
| or altered, or this corporation may be dis
| solved, with the consent of the stockholders
owning three-fourths of the stock of the cor
poration represented at general meeting
convened for that purpose, OF which said
meeting at least ten days written notice
shall have been given by mail addressed to
each stakeholder of record at his last known
place of residence.
ARTICLE SIX.
No stakeholder of this corporation shall
ever be held liable for any Of the debts,
contracts faults or OBLIGATIONS of this cor,
paid balance, II any, due to the corporation
on the shares Of stock owned by them moi
shall any informality In the organization OF
expose any stakeholder to any liability be
yond the amount remaining due on his
stock. Nor shall a failure at any time to
hold meetings, to elect directors or officers
as herein provided for, work the forfeiture
of this charter, or dissolve the corporation
but the existing hoard Of directors and Off
GERS shall remain In office until their sue
cessors be elected and qualify.
ARTICLE SEVEN.
Whenever this corporation Is dissolved
either by limitation or from any other cause
It's affairs shall be liquidated by one or mort
commissioners to be appointed from amonl
the stockholders at the same meeting, or a.
any adjournment thereof at which such dis
solution may be decided upon, or at a meet
J ing called for that purpose, Of which meet
ing the same notice shall be given as pro
for meetings held for the purpose of amend
Ing the charter or dissolving the corpora
ton. and Q majority In amount Of the eapi