The herald., 1914-06-11

| its stockholders and any and all other per
| sons and organizations that it may desire t
| serve.
% To collect accounts and claims of every
! kind and nature and to charge fees or Other
| considerations therefor.
! (c) To adopt and advocate the general use
! OF such uniform rules and regulations per
| tanning to the credit and collection depart
| ment OF businesses as shall tend 10 promote
| by all legal and equitable means the general
prosperity Of dealers engaged therein.
CD To acquire, hold, own, sell or otherwise
deal in stocks, bonds, commercial paper, ac-
counts. or any other evidences of indebted
ness OF ITS own or of -ny other person, cor
poratlon or organization, and to exercise any
and all privileges and powers which a natural
person might have or exercise in respect to
same.
(e) To acquire. hold, deal in, own, rent,
lease, sell incumber and convey real estate.
% To transact any and all other lawful
business OF every kind and nature incidental
TO any Of the foregoing.
ARTICLE lN-The capital stock of this
corporation is hereby fixed at the sum of Fiji
ty Thousand Dollars (S50,0OO0O), divided into
and represented by FIVE hundred $500 shares
$4,000 each. This company shall have the
right TO commence business ard be a going
concern when fifteen thousand dollars ISIS.
subscribed for. All stock subscribed for shall
be paid for in cash or property received upon
such terms and conditions as the board of di-
rectorS shall prescribe.
No other or further subscription to stool
shall be received by this corporation, except
ing the original subscriptions, without tn,
unanimous consent of all the directors thei
in office, and no other stock shall be issuei
by the corporation, excepting with suci
unanimous consent.
No certificate of stock shall be issued until
fully paid. No transfer of stock shall Be
admitted or held to DO valid or binding 50
far as the corporation is concerned, unles
made hooks al hR
ARTICLE V. All powers of this corpori-
ton shall be vested in and the business ard
affairs shall be managed by a board of D.
rectors TO consist of not less than three mr.
more than nine stockholders, who shall Ie
elected annually at a meeting of the stocI-
holders on the fourth Tuesday of January If
of directors, who are declared to be Clr. |
ence o. Wilcox, Owen K. Parker and Lewis |
o. Shackelford, who shall serve in that "a. |
p9city until their successors are duly elect. |
ed and qualified All elections shall be held |
by ballot at the Office OF the company unce-
the supervision of two commissioners to BE- |
appointed by the board of directors. Notice d |
such meeting shall be given by the secretar,
in writing. delivered to each stakeholder il |
person or mailed to his last known address It |
least fifteen days prior to such election, bit !
this notice may be waived by the unanimous
consent of all the stockholders.
At all such elections and at all meetings If
the stockholders, every stakeholder shall De
entitled to one vote foi each share of STICK
siduullB III MS on the DOCKS OF ne !
at the date of such election or met
ing; said votes to be cast in person or oy
written proxy, and majority of the woes
shall elect.
The failure TO elect directors at the ANIMAL
meeting shall not dissolve or affect the or
Doration nor impair its management in my
respect, but the directors in Office shall re-
main in office until rneir successors are
elected and qualified.
Each board of directo,s shall elect as non
IS possible after their own election a prsi-
lent, vice president, secretary and treasurer
md any two of the offices of said corporation
Except those of president and vice president,
nay be held by one and the same per,c at
he same time.
The first officers of the corporation skill be I
IS follows:
Clarence. o. Wilcox, president; Own r. !
'arker, vice president and secretary, and
evils Q. Shackelford, treasurer, who shall t
old office until their successors are duly 5
lected and qualified {
All vacancies in the board for wi.ever | '
ause shall be filled by the remaining Hrec- |
ors Any member of the board may 3point