Lower coast gazette., 1913-08-16

paid for in cash, or at such time as the
Board of Directors may fix. This Cor
poration shall be a going concern when
and as soon as Fifteen thousand
(s150OO. 00) Dollars Of the capital stock
shall have been subscribed for.
ARTICLE V.
All the corporate powers of this Cor
poration shall be vested in and exercis-
ed by a Board of Directors. Said Di-
rectors shall be elected at a meeting OF
the stockholders to be held on the first
Monday in July Of each year.
Notice Of such meeting and of all
other meetings, not provided for by
law, shall be given in writing to each
stakeholder by mailing same to such
stockholders last address ten QO) days
before each meeting.
At the first reeting of the Board OF
Directors after it's election it shall elect
from among its number a President, a
Vice-President. a Secretary-Treasurer
in the form of one person, or a Secre-
tary and a Treasurer as the Board OF
Directors may deem necessary; when
the Office of Secretary shall be held
separately it may be held by one other
than a stockholder. All vacancies Oc-
curing in the Board of Directors shall
be filled by the remaining Directors
for the unexpired term.
Until the first Monday in July, 1914,
the following shall constitute the trst
Board of Directors, namely;
!, Frank C. Movers, Emile A. Schayot
. and Clarence Henritzy with the said
. Frank C. Movers as President, the
, said Emile A. Schayot as Vice-Presi-
, dent and the said Clarence Henritzy as
Secretary Treasurer, and they shall
serve until their successors are elected.
At all of the meetings of the stock.
, holders each stakeholder shall be en-.
titled to one vote for each share Of
stock standing in his name on the books
, Of the Corporation, and such share:
: may be voted in person or by writer
d proxy.
s This act of incorporation may b
= amended or this Corporation may b
dissolved by and with the consent o
Three-fourths Of the entire capita
stock represented IN person or 3,
proxy at a general meeting called fo
such purpose after notice as provide
IN by law.
In case of the liquidation Of this Coz
poration, its affairs snail be liquidate
81 by three (3) Commissioners, electe
from among the stockholders at a NEE
10 ing called for that purpose or at tn
If meeting at which the dissolution
voted, and they shall serve until Il
affairs Of the Corporation shall hay
been l~iquidated.
en- Should either of the COMMISSIONS
be unable to act for any reason, tt
remaining Commissioners shall fill II
vacancy.
ARTICLE VII.
ito No stockholder shall ever be held Ii
bic for the contracts or faults Of SO
md Corporation in any further sum tn
as the unpaid balance due the Corporate
on the shares of stock owned by hi
in. nor shall any mere informality in
cb- organization have the effect Of rend'
ing this Charter null or of exposing I
stockholders to any liability beyond I
unpaid amount remaining due on
,tal stock.
~ ARTICLE VIII.
or The subscribers hereto have writ,
opposite their respective names
amount Of stock in this corporal
tion subscribed by each Of them and t
and act of incorporation shall serve as
and original subscription list Of said G
$ of poration.
lred Thus done and passed before !
be Dy. Clerk Of Court and Dy. Ex-otf