The herald., 1914-01-15


eTty, and to have, and enjoy, and exercise
all the rights, powers and privileges which
are now or which may hereafter be conferred
upon corporations organized under the gem
eral laws under which this corporation is or
ganized. - VI
Article IV.-The total amount of the can.
ltal stock of this corporation is hereby fixed
at the sum of seventy thousand dollars Cs70.
OM.0O. divided into seven hundred GC6I
shares of one hundred dollars (slOOOM each
VI said stock three hundred and fifty shares
c SSoo1 shail sh De preferred stock, and the bal
snail be common or general stock. Said nre
ferred stock shall entitle the holder thereof 70
receive out of the net earnings, a fixed wear.
svebIa eSInuia.ve dividend OF six per centum,
payaole annually, before any dividend shall
9e set apart or paid on the common stock.
AFTER the payment of the six per cent d;y;
dend tS to the preferred stock such portion of
authorize shall be paid to the common s,n.L
up 10 ten per cent, and when the preferred
STOCK shall have drawn six per cent and the
ANN o,,non stock tea per cent, in any one divi-
uenu year, II there is any surplus left of m.
net earnings, the same may be divided eouaIIv
oeIween the preferred and commo nstock
ne said preferred and common stock shall
De paid for in such obligations or casb =.
called for by majority of the board of d;-.a'
tofs, or may be issued as full paid stocE N
payment or exchange for property or rights
a.iy aei.ualIy received or purchased by the corpor.
dtTh, ana IN payment of services rendered
The holders of preferred stock shall, in cas.
pI olssoiutlon or liquidation, be entitled ~
Ge G PsIu IN tull both the principal and accr,ed
oiVidend upon their shares, before anv anrount
snaIi be paid to the holders of the oommon
STOCK, ana shall not thereafter particinate =,
any OF the property Of the company or n,n-
ceeds of liquidation. VI p'o-
line Inc holders of preferred stock shall be en-
siiieo III 70 voting powers in the corporation in
an respects, the same as appertain n ,Ln
hoiaers OF common stock. '''e
NO transfer OF stock shall be binding a.,
the corporation unless duly and legaIIy ~
sented oy person or by proxy al the cpro-
psny ONCE tor the purpose of making said
Stockholders shall have the rigb, to die
pose OF their stock as they see fit u''
No treasury stock shall be legally sold hv
iS oiIpoIatlon unless with the approval Of
t"o-thlrds vote of the full board of d;,.oi VI
Iors or stockholders of this corporat;on =
meeting assembled IN
rms corporation shall begin business ,s
soon as thirty thousand dollars TsSo noo noS
OF the capital stock is subscribed for 49,
amount is hereby declared to be snhscr;hn-i
article N.-Al the corporate poweTs of ~.
corporation and the management and controI
u rs business shall be vested in, and eIey.
Siseu oy board OF directors to be comnos.d
Oh seven members, elected from amon9 ,sa
stockholders, as hereinafter Set for,b ne NE
meeting of the board of directors sb.I, Eo ESo
nsIu until after ten days written not;ce
signed by the president or secretary shnII
nave oeen sent to each member an b;s Isi.
known place of residence, unless s,;d ,;s
iilit @ shaIi nave been waived by written go
sent by all Of the said directors. A ma;or;tr
VI t1e D0ard shall constitute a Quorum ny
vioed; That any three directors NAV ~ ~
Nieenns Oh the board, and their unanimou,