The herald., 1914-07-09

german or incidental to any of the objects
and purposes set forth OF contemplated by this
charter
,. To purchase hold. transfer, assign, mort.
gage, pledge or otherwise dispose of the shares
OF the capital stock of any bonds, deben-
lures, securities or other evidences of indebt-
cdness created by any other corporation OF
CurpOrationS of this or any other state, terri
tory or country, and while the owner of such
stock to exercise all the rights. powers and
privileges OF ownership, including the right
TO vote thereon.
J. To borrow money in such manner as the
association may deem fit. and to mortgage
and otherwise pledge the associations prop.
erty to secure the same.
T. To buy, sell, hold, assign, transfer, mort
gage and deal in and with real estate and all
interest therein: to buy, sell, hold, assign
transfer, mortgage and deal in and with
goods. wares. merchandise and all kinds oil
personal property, licenses and franchises, foi
the purpose herein set forth, and, in general
conduct any business necessary to carry out
said purposes, and to exercise all the rights
powers and privileges now or hereafter con
ferrcd by law upon associations organized un.
der the provisions of the laws authorizing the
formation OF associations.
Article IV.-The capital stock of this asso.
citation is hereby fixed At the sum of three
into thirty thousand shares of the par value
Of ten dollars CSl0 each, which shall be paid
for in cash, or on such terms and conditions
may be decided upon by the board of di.
rectors. or may be issued for no less than
par for property purchased by or services ac.
tualy rendered to said association. All
shares Of stock shall be full paid and non-
asSeSSahle. No transfer of stock shall be
binding upon the association unless made
upon the book. and all certificates of stock
shall be signed by such officers may be
designated by the board of directors.
Article N.-Al corporate powers of this cor
poratior shall be vested in and exercised by
a board OF directors composed of not less
than five not more than nine directors
all of whom shall be shareholders. and who
shall be elected annually on the first Tues
day of June of each year. The first election
under this charter shall be held the first
Tuesday of June, 1915, provided. however, that
Immediately upon the passing of this charter
the shareholders shall convene and elect d
rectors, who shall serve until the first Tues
dav in June, 1915.
Said election shall be by ballot and con
Quoted at the Office of the association, anC
notice of said election shall be given by tn,
secretary-treasurer to each stakeholder II
writing ten days prior to said election, mailed
to the stockholders last known address, shal
be sufficient notice. Each stakeholder shall b,
entitled to one vote, either in person or by
proxy. The directors shall serve until thei
successors have been elected. The director
shall have the power Of filling any vacanc,
occurring among their number. For all pur
poses herein a majority of the board of direc
tors shall constitute 4 quorum. They shall
have power to employ or discharge such EN-
plOyees as may be nect ssary for the conduc
OF the business.
The officers of this corporation shall consis
Of a president. first vice president, secon,