The herald., 1912-05-16
The stock of This Cooperation NAV be- is

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 yalu-
alton of any and all lands. rights. contracts.
labor or services or property. movable, i'm
movable and mixed, corporal or incorpo-
real. accepted and 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-
ti0n land any and all persons. partner
ships, associations, corporations or credit
Ors dealing with this corporation are con
cluded thereby, and any and all persons.
partnerships. associations, crpOratiOnS or
creditors dealing with this corporation here
by waive any right or cause of action
against the original or subsequent owner
or owners OF such stock and shares issued to
il. 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 he 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
regulations and conditions as the board of
directors may prescribe.
This corporation shall begin its business
as soon as three thousand dollars 49,
100000 of It's 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
us affairs shall be vested in and exercised
by board or directors, composed of not
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
paR, majority of whom, represented eth
er y 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 or 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
h hrSI tuesday IN April OF each year. Each
holder Of stock shall be allowed to vote
In person or by written proxy, one vote for
each share of stock owned by him, and ali
elections shall be held under such rules and
regulations as may be adopted by the board
or directors. The directors thus elected
Shall continue in office for one year and un-
III their successors shall have been duly
e.acled ana qualified Any failure to elect
ofhcers or directors shall not be regarded as
forfeiture OF the charter ANY vacancy
occurring on said board OF directors shall be
nIled by the remaining directors for the
unexpired term.
The following persons shall be and consti.
tute the first board Of directors Otto r
Mailer, {. +. A. Carr and +. Howard Mecca
leD. a majority of whom shall constitute a
quorum, with Otto T. Maier as president, c.
r. A. Carr, vice-preSident and f. Uoya ryi
McC allen, secretary, who shall be the officers
OF the corporation and shall serve until the
Tg1iar meeting on the first Tuesday in AprjI
1915, or until their successors have been
elected and qualified