The herald., 1914-04-30

nature of the business 10 be carried on by
II are declared to be to carry on a general
merchandise business, that II to buy and sen
sugar, rice, vegetables and other farm PROD
ucts, as we'll as all other kinds OF merchan-
disc and to receive for 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-
yauces on such consiguments, 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 (SlOO,.
6OOOO dollars, divided into a thousand shares
of the par value OF one hundred dollars
$4,000 each, payable when issued, IN cash.
or other property, or for services rendered, or
actually performed as decided by the board
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
Article V. No stakeholder 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 erect OF
rendering the charter null or OF exposing the
stockholders to any liability beyond the I'M
paid balance, if any, on his stock subscrip-
should any stakeholder desire to sell his
| stock he shall first offer the same to the
| stockholders OF the company through ITS
| board OF directors, and the stockholders who
| desire to purchase shall have the right 10
| purchase the same, in proportion to their
| holdings Of stock in the company. Should
! said stockholders in seventy-two hours after
/ notice having been given fail or refuse to
purchase the stock offered for sale such stock
| NAV be sold to 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 II
1 pursuance Of the provisions OF this charter.
Article VI. This corporation shall have al
powers granted TO such corporations by law
| and shall have the power TO contract to Dor
row money and evidence the same by notes
| and to secure the notes by mortgage o.
pledge Of any property owned by it, sue anc
! be sued in its corporate name, and to own
hold, receive, loan, lease, purchase, sell anC
| convey OF mortgage any and all acts or thing
| OF any other kind, nature or description, a
may be necessary to carry out the. object
| and purposes ~ said business as its interest
and conveniences may require.
Article VII. The business of said corpora
ton shall be directed by and vested in
board of directors composed Of three stool;
holders, a majority of whom shall constitute
| quorum for the transaction Of all bushes
and the said directors as first constitute
Pfeifer, and they shall hold office until tn
last Wednesday Of March, 1915, and on tina
day and from each any every day thereafte
elections shall be held annually for director
at the principal Office Of the corporation
Failure to hold an election on the day spec
fed shall not dissolve the corporation, bl
the directors in Office shall hold their n
spective Office until an election shall be hel
after ten days notice Of the time and plaC
thereof given 10 each stakeholder The al
nual election shall be held the last We
nesday Of March, 1914, and thereafter on Il
last Wednesday Of March Of each succeedir
year, and the directors shall be chosen |
! ballot and the election shall be held betwe,
the hours OF 10 a. n. and p. m. All vaca
cies On the board of directors for whatev
r cause shall be called by the remaining Z
rectors. Leon Calm shall be the first pres