The herald., 1914-04-09

nature of the business to be carried on by
II are declared to be to carry on general
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 and other
farm products, and all kinds of merchandise
whatsoever consigned for sale; to make ad-
vanceS 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 be one hundred thousand CSlOO,-
OOOOOl dollars. divided into thousand shares
Of the par value Of hundred dollars
$4,000 each, payable when issued, IN cash,
actually performed as decided by the board
Of directors, and this corporation is TO be
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 stockholder 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 effect of
rendering the charter null or of exposing the
stockholders to any liability beyond the un-
paid balance, If any, on his stock subscrip-
ton.
Should any stockholder desire to sell his
stock he shall first offer the same to the
board Of directors, and the stockholders who
desire to purchase shall have the right to
purchase the same, in proportion to their
| holdings OF stock IN the company. Should
said stockholders in seventytwo hours after
notice having been given fail or refuse to
purchase the stock offered for sale such stock
may be sold 10 any one.
No transfer OF stock shall be made or held
| to be valid and binding unless made on the
! books OF the company, and unless made in
pursuance Of the provisions OF this charter.
Article VI. This corporation shall have all
| powers granted TO such corporations by law,
| and shall have the power to contract, to bor-
row money and evidence the same by notes
| and to secure the notes by mortgage or
/ pledge Of any property owned by II, sue and
/ be sued in its corporate name, and TO own,
! hold, receive, loan, lease, purchase, sell and
| convey or mortgage any and all acts or things
| OF any other kind, nature or description, as
may be necessary TO carry out the objects
and purposes Of said business as its interests
| and Couveniences may require.
! Article VII. The business Of said corpora
| tion shall be directed by and vested in a
| board of directors composed Of three stock.
! holders, a majority Of whom shall constitute
! quorum for the transaction Of all business
and the said directors as first constituted
| shall be Leon Calm. NJ. Coguenhem and Leon
Pfcifer, and they shall hold Office until the
| last Wednesday of March, 1915 and on that
| day and from each any every day thereafter
elections shall be held annually for directors
| At the principal Office Of the corporation
| Failure to hold an election the day speci
| hed shall not dissolve the corporation but
| the directors in Office shall hold their re-
spective office until an election shall be held
| after ten days notice Of the time and place
thereof given to each stockhoder. The an
nual election shall be held on the last Wed
nesday Of March, 1919, and thereafter on tn,
| last Wednesday of March of each succeedin,
year, and the directors shall be chosen By
| ballot and the election shall be held between
! the hours of 10 a. m. and 4 p. m. All vacan
cies on the board Of directors for whateve
| cause shall be called by the remaining di
| rectors. Leon Calm shall be the first presi