The herald., 1917-07-05

! said board for the price tbe-cnf 10 -
| OF directors shall thereupon give notice
mercer 10 the owner OF the stock, his agent
/ or representative, and before the expiratisn
| OF me period of eighty days aforesaid shall
can IN the certificate or certificates ren~e
S yehI,ins such stock and pay the price or
ndIue thereof and cause the same to be
transferred on the books to the purchaser
SECOND: The preference on,ior and
rlRAt OF purchase heretofore vested bv Par
aEraph FIRST IN the other shareholders shall
eN'St IN fuli force and effect in their favor
to acquire the shares Of stock Of a decesssd
stockholder, and the for.nalities and conrse ]
Oh procedure, the terms. conditions stinuIa
tons and delays herenabove established !, |
sid paragraph shall apply in all respects |
20 me procedure to be followed in case Of |
death. Immediately upon recent Of i1Fo-.
nation OF the death of any shareholder II |
man be the duty of the board OF directors |
80, me necessary steps to be taken to
AIRY our and enforce these provisions.
THIRD: The preference. option and -;cb.
VI purchase hereinabove established shall |
run IN favor Of each shareholder of record
.'' ms NiTiIe share IN proportion to his ex-
iS;ing holdings in the stock. I'm. should an,
shareholder fail to exercise his -;gbt - ~, .brs
regard his rights shall pass to and he an !
,oroeI by the other shareholders provided
lnaI me owner, his widow. heirs or legal rep.
feSentatives, as the case NAV he shall M, !
ne Obliged to deliver said stock ,i,less Tho !
'herS TO purchase the same shall include and
I p,-z lhe entirety OF the offerings under
h'"I.' liSl OF all OF the holdings under
Paragraph Second.
, FOURTH: All certificates Of stock shall
oedr upon their face brief reference 70
me rlghts herein established in favor Of
the stockholders -
-, Article N.-All the corporate powers If
'Ais corporation. and the management, and
control OF its affairs, shall be vested in. and
exercised b." a board OF directors composed
o. t3Tee go stockholders, a majority Of which
man constitute quorum for the t-tnsac- Z
non OF all business The directors shall be
e'eCted annually by the stockholders 4, A
meeting to be held on the first Monday after
NE hTst sunday OF each year in the month .
~ January, said meeting % be preceded NV ! :
,,H'te days written notice 20 the Stockholders | ,
>dch st6ckholder shall be entitled in ne. | .
80" or ny proxy, to a vote for every share .
owned by him, and all elections shall be 1
leId under such rules and regulations as
nay be determined by the board Of dire
orS. At such meeting. all questions o.be-
nan mere routine shall be decided bv a |
Majority OF the shares Of stock rcp-ese9+ed p
u Sald meeting. The directors, when elect. T.
a. Sha'I continue in office for one wear and | p
'ntiI their successors have been duly elected +.
M nave qualified No failure 10 elect shall Cd
Perate the forfeiture Of this charter. ANY 4
acancy occurring said board shall be e.
Hed by the remaining directors for the le
nexpired term The board Of directors shall.
! IT'S hrst meeting after its election, select ! h
III Of us number. a president and one or II
lore viee-pTesidents and a manager, and
nan also elect a secretary treasurer, who il