The herald., 1914-03-12

and organization of this corporations; also for
cash or in installments of such amount as the
Board of Directors may determine.
The Board of Directors, as hereinafter
created, is specially authorized to dispose of
the stock of this corporation, in whole or in
part, for any and all of the purposes above
stated, as in its judgment may seem fair and
proper.
This corporation shall commence business
and become a going concern as soon as three
thousand dollars of its capital stock shall
have been subscribed; the residue of said
stock to be issued and payment made there.
for subject TO the action and call of the Board
Of Directors. Said stock shall be fully paid
at the time of its issuance and, thereafter,
increased or decreased in the manner pro-
vided by the laws of this State.
The parties to this act declared that they
hereby subscribe for the number of shares
of said capital stock set opposite their re-
spective signatures hereto, so that this act
of Incorporation shall serve as an original
subscription.
Article v. All the powers of this corpora.
ton shall be vested in and be exercised by
a board of three directors, to be elected each
year from among the stockholders at the an
nual meeting; said directors shall be bona
fde stockholders, and the first board shall
consist of I. T. Rhea, Jr, L. E. Stafford and
]. c. Mente, with the following officers: I.
T Rhea. Jr., who shall be President; L. E.
Stafford who ! shall be Vice President J. C.
Powers of Board of Directors.-On the first
Monday in January, 1915, and annually there
after, except when such day shall fall on a
lay.day. the stockholders shall elect a Board
of Directors for the ensuing year, the board
| already installed TO continue to hold over
| until their successors are elected and quail.
select from their own number the officers
| of the corporation. The officers of the cor
| poration shall be a President, a Vice Presi-
dent and a Secretary-Treasurer. The election
Of hall he h. Kali 4 eha
sons receiving the largest number Of votes
| cast shall be declared elected. For 'electing
directors or for any other purpose, each share
OF stock, whether in person or by proxy, shall
be entitled TO one vote, and a majority OF
| the votes cast shall be required to pass anv
| resolution or decide any question submitted
| 10 the stockholders, except for the altera
| ton or amendment of this charter or for the
dissolution of the corporation, as hereinafter
| provided.
Said Board of Directors shall have power
| and authority to make all necessary rules
and regulations for the management, opera.
| tion and control Of the business of the cor
| poration, as we'll as to make all necessary
rules and bylaws, with power TO fill any
vacancy occurring in their number or any
| vacancy occurring among the officers Of the
| corporation, a majority Of the directors vot.
| ing at one time, in person or by proxy, shall
| be required 70 pass any resolution or adop,
any bylaws and which, when so adopted
| shall become valid, corporate acts.
| Article VI. Notice to Observation-Disclosures
of all meetings of stockholders for electinr
directors or for any other purpose, except a.
may be hereinafter directed, shall be given
| in writing, by the Secretary Treasurer, to b,
deposited in the mail, at least ten DAYS prioi
to such meeting, directed to each stockholde,
at his last known address appearing on tn,
books of the corporation, unless said motto,
is waived in writing, by all the stakeholder,
appearing as such upon the books
Article VII. Amendments.-This act of in
corporation may be added to, modified
changed or amended, or this corporation ma,
be dissolved by and with the assent of III,
holders of three-fourths in amount of its thei