The herald., 1918-10-10
CHARTERS

tI3n. pledge or other remembrance Of said
stock shall be made subject 20 this provision
II the charter. said corporation : hereby
authorized 70 purchase the same out o. the
profits OF earned surplus. and 20 reissue the
same for not less than par, and said stock
80 -e-issued shall have all the rights and
privileges and be subject 10 all the terms
and conditions OF said class. II said cor
poration fails 70 exercise il nights . buy
IN said sock within said period. the holder
thereof may make such o:he. disposition OF
the stock a. he desires. i No share OF
Glass b Of the common stock may be sold
assigned or disposed Of by any holder there
Of. without first offering ]; IN writing for
thirty tgl days 20 the corporation al a
price not 10 exceed the book value OF said
stock at the date Of the last inventory, de
Quoting dividends included therein which
have already been paid. and adding interest
on said value al SIX 20 per cent, per cent
per annuin from said date up 20 the date OF
purchase. ANY sale or other disposition.
pledge or eucuTbrauce OF said stock shall be
made subject 20 this provision Of the charter
SAID corporation j. hereby authorized 70 pu--
chase said stock ont Of the profits or earned
surplus. and TO reissue same AZ not less
than the price for which purchased, and when
issued said stock shall have all the rights
and privileges and be subject 20 all the
terms and conditions Of the stock of said
class. II said corporation fails TO exercise
~ night 70 buy. IN said stock within said
period, the holder thereof NAV make such
Il. Should the holder OF any Of Class "B"
Of the common stock die. or should such hold
e. who Is at the time Of the issue 10 him OF
any such stock be at such time connected
with the corporation as employee and such
connection tor any reason terminate or be
terminated. the holders OF said stock shall
be required 10 sell his said common stock
20 Inc corporation al price not 10 exceed
the book value OF said stock al the date Of
the last inventory. deducting dividends in
eluded therein which have already been paid
and adding interest on said value al six
70 per cent? per cent per annum rom said
date 10 the date of purchase: provided said
corporation shall accept and paw for the said
stock within thirty CSO) days from the tender
thereof TO the corporation BY the estate OF
such deceased stakeholder or by the stock
holder whose connection with the corporation
mas terminated, after which said estate and
SAID stakeholder shall be free to make such
other disposition Of the stock as the legal
resentatIves Of such estate or as said
stoekholder whose connection with the cor
poration has terminated. may desire Is
ms corporation shall have the right 10 de
crease ITS capital stock in the manner au-
thorized by law. and in such event 10 paw
of the retired stock from the capital and
surplus OF the corporation in accordance with
Law and subject 10 the provisions OF this
charter 10. Fifty per cent go per cent?
OF the total (Which need not. however be Of
each class Of the capital stock shall be sub
seribed before the filing Of these articles OF
incorporation. and Fifty per cent go per cent?
OF all stock subscribed for must he paid for
before the corporation engages in business,
and the remainder within Twelve Q2) months
thereafter; but all stock subscribed for NAV
De paid either in cash OF property actually
received by or labor done for the corpora.
ton IN accordance with law. In payment of
all or any portion of said stock this corpo-
ration is authorized to acquire and take over
any existing business. and this corporation
snail hereafter have the right TO acquire any
existing business or property. and to issue
rs stock or any portion thereof for the value
thereof IN accordance with law H. The
capital stock Of the corporation may be in
creased to Two Million Five Hundred Thou
sand CS2SO,mo00) Dollars. that is, the pre-
TERED stock may be increased TO Seven Hun.
bred Fifty Thousand (s7SO0OOO0) Dollars. all
OF such increase in the preferred to be
Class "B. and the common stock 10 One
Million Seven Hundred Fifty Thousand Dol
lars Gl,7500O0OO. all of such increase in
the common to be Class "B." 49, Sepa-
rate stock books shall be kept for each az
SAID Glasses Of stock, and no transfer of
stock shall be binding on this corporation.
except when made upon its books BY the
surrender of the outstanding certificate. and
IT'S proper endorsement by the owner or his
constituted agent or legal representative
ARTICLE Vi All the powers OF This
corporation shall be vested in and exercised
by a Board of three directors: elected nv
the stockholders who are entitled "a The
Notlng power al the annual meeting which
shall be held on the first Monday of DC
tober Of each year, with the right Of sucl
stockholders to increase the number IN not
more than seven directors. Each OF the Al;
reciors shall own al least one share Of Com.
mon stock in his own name The first IN.
nual meeting shall be held on the first Mon.
day Of October 1919. until which time The
oifcers and directors named in this charter
shall continue to act. and until their sur
cessors are elected and qualified At each
annual meeting OF said Stockholders. the said
stockholders shall elect as many of said d.
reetors as they shall desire. and should thew
elect less than seven. the directors shall
nave the power 70 increase their number TO
seven. by election at any meeting OF the
Hoard OF Directors 2 All vacancies in the
Board Of Directors NAV be filled by the re-
naming directors. Any director NAV be
represented at anv meeting by any other
stoekholder by written proxy Immediately
after, or as soon as practicable after. their
own election. the directors elected bv the
stockholders shall elect President. Vice
President and a Secretary-Treasurer The
failure TO hold the annual meeting and elect
directors shall not affect this corporation nor
imnair its MANAGEMENT. but the directors in
Office shall continue until their successors
are elected. ). The Officers of this cor.
noration shall consist of President Vice
President. and a Secretary Treasurer but
the stockholders or the directors MAY cleo,
such other Officers. agents and e-,nroxees