The herald., 1914-01-22

| action upon any matter shall be considered a
valid, corporate act, when. previously to the
I holding OF said meeting, and after the ten
/ days notice hereinabove stipulated shall have
| been gwen. the other four directors consent
| IN writing thereto. Said written consent shall
6e spread upon the minutes Of said meeting
ihe board OF directors shall have power 10
determine the manner and cause for which
vacancies may be declared on said board and
snail have the right to hll any vacancy oc-
curing thereon by the election of some quail
Ihed stockholder, who shall serve until his
successor is elected at the annual election
No person shall be eligible as member Of
pOration.
The. officers Of the corporation shall be a
president, vice-president, secretary and treas
urer, OF whom the president, vice-presidnet
ana treasurer shall be elected by the board
from among its members, and the secretary
from among the stockholders. The office OF
wee president and treasurer may be combined
ana De held by one and the same person
Immediately after the signing OF this char.
ter the subscribers hereto, as Stockholders
snail elect from among the stockholders said
S oSHaIu on directors, and at the same meeting
eject the othcers to serve the corporation
said board of directors shall continue in
othce until the third Monday in January
LSis on which day and annually thereafter
board OF directors shall be elected by ballot
tor the term Of one year. Such election shall
De held under such rules and regulations as
may be provided by the board Of directors.
Any failure from any cause whatever TO eIec,
board Of directors on the day named sbaIi
not dissolve the corporation, but the board ~
directors then IN office shall hold over until
.;n .iler successors are chosen. AT every elec-
ton and meeting of the stockholders the vot.
shaii De by ballot, and each share of stock
Shail oe entitled TO one vote to be cast bv
tne owner IN person or by written proxy. The
stoeknoiders receiving majority of the votes
cast shall De declared elected as the boa,5 -
directors. The board shall have the light -
appoint and discharge such managers. Clerks,
agents and other employees, as nav Se dee-,'
ed necessary or expedient, and m 1sL.
change, and amend all bylaws. miles ana
regulations Tor the proper conduct and man
hl Ne on the anairs, business and concerns
the corporation, and not in conaic, with
tnis charter or the laws of this state.
az warrants, cnecks, drafts or other obliga.
L .Lohs o. ms corporation shall be signed by
me president, or by the treasurer
ANY officer or director nav oe rernnved bv
majority vote OF the stockholders
Wnen all seven directors consent thereto
or are present, the notices otherwise reouired
Tor holding meetings may be dispensed S;,L
Article Vl.-Meetings of the stockhoide-.
nay De called at the pleasure of the nr-s;.
itv Of n. % boaId n %fiien VI consent Of major.
L LE&oept as otherwise provided in this act. on
y iaNI an questions submitted at the stock.
holders ioa!, meeting shall be decided by ma.
Jorlty OF the stock voted at said rnee,ina
All meetings OF the Stockholders. whe.b.-
general or special, shall be held ouiv sf,s-
Sen Gays written notice to each stockhoIder
such notice shall be signed bv the or-s;S.-:
or secretary, and shall be sent 70 earh s,osL
holder by mail, directed to him ar his Ia,
known place Of residence The said 1o,;cs
may De waived by the unanimous canss-, as
all of the Stockholders N'4SeH' o1
:. AItiele NIL-No stakeholder shall he h.Jd
liable or responsible for the contracts d.b,s
fauits or defaults of said corporation in snr
Iurther sum than the unpaid balance due n.
: corporation on the shares of stock owned by
I'm. nor snail any mere infornalitv in nv,
gsnization have the effect Of rrnde2;ng M.
charter null, or of exposing a stockhoiS.r -
any liability beyond the amount remsin;ns
unpaid on ms subscription to the stock.