The herald., 1913-09-25

each share OF stock standing In his name on
the books Of the company, cast In person or
by proxy. and the majority Of the votes
cast shall elect. The board of directors
shall have the power to fill all vacancies
that may occur on the board Failure to
elect directors on the day above specified
shall not dissolve the corporation, but the
directors tnen in Office shall remain In office
until their successors are elected and quail
fed.
Due notice OF another election shall forth
with be given as above provided. SUCH no
tice Of election shall be continued to be
given until an election is held. The board
Of directors at the first meeting following
an annual election shall elect from their
number a president, vice,president. sec,
rotary, and a treasurer, ali Of whom shall
be stockholders, and such other officers as
the board shall deem necessary. The board
shall have the power In Its discretion to
the same to confer upon one person, and
shall have power to FIX the salaries of all
officers and Of such other ofhcers as they
deem necessary. The board OF directors
| as we. as alter and amend all bylaws, rules
and re -ulations necessary and proper for
| the supDort and management Of the business
and affairs Of this corporation, not incon'
sistent with Its charter.
The said board shall have also full power
aud authority to borrow money through the
president or SEINE other duly authorized
agent or agents: to execute mortgages and
L
such manner and on such terms as In
| their judgment may be advantageous, anC
| generally to do all the things necessary fol
the proper carrying on Of the business o.
the said corporation; as also to issue ant
| deliver full paid shares of stock and bond
or other obligations Of the said corporation
In payment Of the money borrowed or ne
ney, labor, services, property or rights &C
tually received by said corporation, as here
tofore set forth. At any meeting of tn
board OF directors, any director absent from
the meeting may be represented by any othe
director who may cast the vote Of said ah
sent director, according to the written In
struction of the said absent director. Tn
board or directors shall have the power, b
!, vote OF not less than four al directors
to sell, lease, mortgage (by bond mortgag
or otherwlseI or to pledge any or all of tn
property, movable and immovable beongin
to the corporation, or to receive in exchang
therefor money, or stock or bonds or othe
obligations Of another corporation withou
, referring to the shareholders for the powe
to do so. And they may also purchase 70
stock In this company or for cash or o
any Of the purposes Of the corporation, witt
: out authority Of the shareholders.
: Article yl.-Whenever this corporatio
+ shall be dissolved either by Limitation {
T from anv other cause, Its affairs shall be
quidated by three (3) stockholders to I
J appointed at general meeting Of the stocl
E holders convened for the purpose Of liqu
i dalton as hereinafter provided, each shal
' being entitled TO one vote to be cast by Il
: holder either In person or by proxy. Sa
e commissioners shall remain In ONCE unit
: the affairs Of said corporation shall ha,
r been fully settled and liquidated, and the