The herald., 1914-01-01

/
eTty, and to have, and enjoy, and exercise
| all the rights, powers and privileges which
are now or winch may hereafter be conferred
| upon corporations organized under the gen
gained - VI
Article, IV.-The total amount of the CAP.
| ital stock OF this corporation is hereby fixed
at the sum of seventy thousand dollars tSz0
| ODO), divided into seven hundred T7O0,
shares OF one hundred dollars (SlOOOO) each
~ yso said stock three hundred and fifty shares
| lSSO) snail be preferred stock, and the hal.
dhce three hundred and fifty $3.50 shares.
| sndIl Oe common or general stock Said pre-.
Ierrec STOCK shall entitle the holder thereof to
| receive out OF the net earnings a fixed wear.
iy cumulative dividend of six per centnm
payable annually, before any dividend shall
e sf SET apart or paid the common stock.
Id ~, ,ne payment OF the six per cent dvi-
dend TO the preferred stock such portion of
| me surplus LETT as the board of directors shall
authorize shall be paid to the common stool
Up 10 zen per cent, and when the preferred
Stoch shall nave drawn six per cent and the
common stock ten per cent, in any ONE div;
ueIu year, II there is any surplus left of The
he!, earnings the same may be divided equally
oerween the preferred and commo nstock
The said preferred and common stool sbaII
DC pala 10r IN such obligations or cash as
,alled Tor by majority of the board of direc
nay1e or may De issued as full paid stock in
actually received or purchased by the cornor
tn, hand IN payment OF services rendered,
me I hG.ders OF preferred stock shall. in case
= uIsSoiutlon or liquidation, be entitled 10
ge Paid IN full both the principal and accrued
dividend upon their shares, before anv a,no,,,,
shalI De paid to the holders OF the coI,y,n,
stooA, ana snail not thereafter particinate IN
any OF the property of the comnany 90 ,- -
ceeds OF liquidation Vi Pio-
me holders OF preferred stock shall n. -,
lieu II 10 voting powers in the corporation IN
boIdaeS the same as appertain to the
hoiders OF common stock 'ie
NO transfer of stock shall be binding y,
ne corporation unless duly and legally pre.
nanH'S * person or oy proxy at the com.
transfer FP'SS Vi making SAID
STOCKHOLDERS shall have the rich, 70 de
poSe OF their stock as they see fit
70 treasury stock shall be legalIv so,J b.
eHts corporation unless with the a6nrovsI -
tWo-thirds vote of the full board of e.. VI
Tors or stockholders of this cornorot;o,l
mereting assembled pOiH 'ioh IN
rms corporation shall begin business nc
ION as thirty thousand dollars CsD00o nd1
% tiie capital stock is subscribed for wbirb
mount IS hereby declared to be subscriber
cor, ltIee N'-Ail the corporate powers of This
OF ITS business shall be vested !, "a SontIoi
ciSed by board of directors 10 he co-,nosaL
.. seven members, elected from anong 81
Stoeh:noloeIs, as hereinafter set forth NJ
tIeeuhg OF the board of directors sbaII H.
n :u until after ten days written na,;o
49, ny the president or secretary. shall
LSoeen sent TO each member at his Iast
iHnoWn place of residence, unless s.;d IS
80. sndI nave been waived by written 60
sen. oy All OF the said directors. ma;o,;tr
.;d uIe D1sro snail constitute a QUORUM ~
se,i lnat any three directors NAV boiJ
e~"s Oh the board, and their Unanimous