The herald., 1914-04-23

nature of the business to be carried on by
II are declared to be to carry on a general
merchandise business, that II to buy ana sen
sugar, rice. vegetables and other farm prod-
ucts as well as all other kinds OF merchan-
disc and to receive Tor sale and to sell on
commission sugar, rice, vegetables ana other
farm products, and all kinds OF MERCHANDISE
whatsoever consigned for sale; TO make adj
yances on such Consignments, and to charge
for such sales and advances, and generally
to do all acts and to enter into all con-
tracts that may be necessary, convenient or
appropriate in the accomplishment OF the
aforesaid purposes.
Article " The capital stock of this cor
poration shall he one hundred thousand (SlOO,'
0OOGO dollars, divided into thousand shares
of the par value of hundred dollars
(SlOOOO each, payable when issued, in cash,
or other property, or for services rendered, or
actually performed as decided by the board
going concern when 5000 Of said stock has
been subscribed and paid for. Each share
of stock shall be entitled to one vote at all
general elections.
Article V. No stakeholder shall ever be
liable or responsible for the Indebtedness,
faults, or defaults of this corporation, nor
shall any mere informality in the organIza.
ton of the corporation have any erect oil
rendering the charter null or OF exposing the
stockholders to any liability beyond the un'
paid balance, if any, on his stock suoscrlp'
Should anv stakeholder desire TO sell hi:
| stock he shall first offer the same to the
! stockholders of the company through 1t:
| board of directors, and the stockholders who
| desire to purchase shall have the right e
| purchase the same, in proportion to theii
holdings of stock in the company. Should
said stockholders in seventy-two hours afte
| notice having been given fail or refuse I,
| purchase the stock offered for sale such stoct
| may be sold TO any one.
! No transfer Of stock shall be made or helC
to be valid and binding unless made on th'
| books OF the company, and unless made II
| < AL nF "a rha
| Article VI. This corporation shall have al
| powers granted TO such corporations by law
| and shall have the power 10 contract, TO Dor
row money and evidence the same by note
! and 10 secure the notes by mortgage o
pledge of any property owned Hy II, sue ant
| be sued in its corporate name and TO own
hold, receive, loan, lease, purchase, sell an
convey or mortgage any and all acrs or thing
| OF any other kind, nature or description, a
| may be necessary to carry out the object
and purposes Of said business as its interest
and convenlences may require.
| Article VII. The business OF said corpora
ton shall be directed by and vested in
board of directors composed of three stock
holders, a majority of whom shall constitut
quorum for the transaction OF all bushes
and the said directors as first constitute
shall be Leon Calm, NJ. Coguenhem and Leo
Pfeifer, and they shall hold office until IN
last Wednesday Of March, 1915. and on thu
day and from each any every day thereafte
elections shall be held annually for director
at the principal Office Of the corporation
Failure to hold an election on the day spec
fed shall not dissolve the corporation, b.
the directors in Office shall hold their r
spective Office until an election shall be he
after ten days notice Of the time and plat
thereof given TO each stockholder. The al
nual election shall be held the last We
: nesday of March, 1914, and thereafter on Il
last Wednesday Of March of each succeeds
: year, and the directors shall be chosen
! ballot, and the election shall be held betwe'
the hours of 10 a.. m. and p m. All vaca
cies on the board Of directors for whatev
cause shall be called by the remaining
E rectors. Leon Calm shall be the first pre-: