The herald., 1912-05-30

The stock of this corporation may be Is
sued for money, for labor done, or services
| rendered, or for lands or other property,
which may be thus paid for or exchanged
and made over to the company. The valu-
| alton Of any and all lands, rights, contracts,
| labor or services or property. movable, i'm
! movable and mixed, corporal or incorpo-
real accepted AID received by the corpora
| tiOn for its corporate purposes in payment,
exchange or otherwise, for any of the stock
and shares OF this corporation and fixed by
| the board of directors upon such terms and
conditions for the issuance of such stock
shall be conclusive evidence of such valua-
ton land any and all persons, partner
ships, associations, corporations or credit
cluded thereby, and any and all persons,
partnerships. associations, operations or
creditors dealing with this corporation here
by waive any right or cause of action
or owners OF such stock and shares issued TO
II, him, her or them in payment or ex-
change for labor done or services rendered,
or for such lands, rights, credits, contracts
and property valued by the board of direc-
tors as aforesaid: and each. every, any and
all contracts, contract or undertaking made
by or entered into with this corporation
shall be subject to this provision of this
charter
All OF said stock shall be full-paid and
worcestershire when issued and delivered
and transfers thereof shall not be binding on
the company unless recorded in its books,
and shall be further subject to such rules
regulation and conditions as the board of
directors may prescribe.
This corporation shall begin fits business
as soon as three thousand dollars 49,
100000 Of Its stock shall have been sub
scribed
ARTICLE V.
The corporate powers Of this corporation,
including the power TO make and amend its
bylaws and the management and control OF
Its affairs shall be vested in and exercised
directors FOmnnSn6
less than three or not more than seven
persons, who shall be the holder of at least
one share OF the capital stock Of this COM
pany, majority of whom, represented eth
er In person or by proxy, shall constitute a
quorum for the transaction of all business.
Any director In his absence from any
meeting of the board of directors shall have
the power to appoint in writing any other
director o. stakeholder as his proxy with
full power to act In his stead at such meet |
ing.
The directors shall be elected annually
by ballot by the holders Of the stock on the |
first Tuesday in April Of each year Each |
holder OF stock shall be allowed to vote |
IN person or by written proxy, one vote for |
elections shall be held under such rules and
regulation as may be adopted by the board |
OF directors. The directors thus elected |
snail continue In office for one year and un- |
elected and qualified. ANY failure to elect |
ofhcers or directors shall not be regar ded as
FORFEITURE OF the charter. Any vacancy |
Occurring on said board Of directors shall be |
filled by the remaining directors for tho
unexpired term.
Inc Following persons shall be and consti- |
TUE the nrst board Of directors Otto T. |
1Maler, Z. Il. A. Carr and Z. Howard Mecca |
leD, majority OF whom shall constitute a |
quorum, with Otto T. Maier as president, q |
=, A. Carr, vice-president and E. Howard |
McCaleb, secretary, who shall be the officers
Oh Ine corporation and shall serve until the |
T.
elected and qualified. oeen