The herald., 1912-04-04

rivatives 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 it (;
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 in 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 bust
ness above mentioned.
ARTICLE III.
The president, or in his absence or ina
bility to act, the vice-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
herebv fixed at the sum OF fifty thousand
(SJO,0OO.0O) dollars, divided into five hun
dred shares OF the par value of one hundred
(SlOO.OUj dollars each. Said shares of
stock shall be paid for by the subscribers
thereto, shall be required by the board
OF directors, and the stock may I've issued in
payment OF property acquired by the corpO-
ration or in compensation for services rend-
cred. This corporation shall be authorized
10 begin business as soon as five thousand
80, OOO.0O) dollars or more of the CAN'T a /
stock shall have been subscribed for. ANY
stakeholder may sell, assign or transfer HIS
stock In this corporation, provided thirty
900 days prior written notice OF such in
tention to sell, assign or transfer the same
he given the company, and the stockholders
thereof shall have the first privilege OF pur-
chasing the same; after which notice the
said stock may be sold in open market
prior lien on all shares OF stock shall be
retained by the company on the stock OF any
shareholder for any indebtedness secured or
unsecured, however evidenced or created due
at any time to the company by the holder
or such stock. And all transfers OF stock
shall be transferred subject TO this clause
ARTICLE V.
All powers Of this corporation shall be
vested in a board OF directors composed OF
not less than three 80 stockholders. They
shall be elected on the first Monday OF De-
cember in each year, commencing 1912 at
general meeting convened for that pur-
pose, after ten days previous notice in writ
ing TO each stakeholder owning stock stand
ing in his name on the books Of the corpO-
ration. and until such time the following
named stockholders are hereby named as the
first board of directors. and who shall hold
their office and exercise their functions until
their successors are elected, viz: George f.
Mason, Il. +. Clifton, W. J. LEngle and +.
Wood. OF whom Geo. +. Mason shall be
president l.. +. Clifton shall be vice-presi-
dent, and +. Wood, secretary and treasurer.
ne same person may nOlu the 0tnceS or
secretary and treasurer or each OF such Of
fees may be held by a different person.
The election Of the board OF directors
shall he by ballot, and each stakeholder shall
be entitled to one vote, either in person or
by proxy. for each share OF stock owned by
him, and a majority OF the votes cast shall
elect The board OF directors SHALL immc-
diately after their election, elect from their
number president, a vice-president, a sec
rotary and a treasurer.
The said board OF directors shall elect and
employ any and all employees. managers
and clerks Of the corporation they may deem
necessary for the proper conduct OF its bust
ness, and may fix their compensation, and
remove or dismiss them at pleasure.