The herald., 1918-12-26
CHARTER

be divided into and represented by fifty
shares of the par value Of one hundred dol
lars each Said stock shall be paid for
in cash or its equivalent as provided by
law, and in such manner and at such times
and in such installments may be pre-
scribed by the Board of Directors. This
corporation shall become going concern and
shall be authorized to commence business
when Twenty-Five Hundred Dollars of its
capital stock shall have been paid for
either in cash or its equivalent, as provided
by law, and when Twenty-Five Hundred
Dollars of the capital stock has in fact been
subscribed for.
ARTICLE V.-The capital stock of this cor
poration may be increased to the sum Of
Fifty Thousand Dollars, by two-thirds vote
of all the stock at a special meeting, called
| for that purpose, or at a regular annual
meeting of the corporation.
ARTICLE vI.-All certificates of stock is
sued by the Company shall be signed by the
President and counter-signed by the Vice.
President, or. II authorized by resolution Of
the Board of Directors, shall be signed by
the President and counter-signed by the
Secretary Treasurer. The stock of this cor
poration can be transferred only on the
| books Of the corporation and subject to such
regulation and formalities as may be by the
Board of Directors from time to time pre-
scribed. No stakeholder shall be permitted
to sell or otherwise dispose of his stock
without first offering the same in writing
10 une otner STOCKHOLDERS, through the boarc
OF Directors, at price not exceeding the
book value thereof, and the stockholders
shall have an option and first right to pur.
| chase all the shares of stock to be thus
| disposed of by sale, or by the death, resig
soeS6ossr, OF amy Of nt
| have a period Of ten days in which tC
| accept or decline such offer of stock Should
| the Board Of Directors or the stockholders de-
cline to purchase said stock, then the stock
II No ctRSIL AI4 L. L. r..
to sell or otherwise dispose of the stock
may sell or otherwise dispose of il in any
manner and at any price that he or they
| may see fit. But each share of stock i.
issued under the condition and understand
ing that no stockholder shall make a sal,
or transfer OF his stock in violation of thi,
provision; and such sale or transfer. IL made
snail be void, and this Company shall b,
under no obligation to list said stock on il
books or to regard the holder of the certifi
cate thereof.
ARTICLE .vH.--The corporate powers o
TINS corporation shall be vested in and ex
ercised by Board of Directors compose
OF three stockholders, two of whom shal
constitute quorum for the transaction q
business The Directors of this corpora
hon may vote in person or by proxy a
any OF the meetings Of the Board of Direc
tors; and the Board of Directors may dele
gate any Of its powers to any officer or OF
hcers or any other representative of IN
company by appropriate resolution to tina
effect. The first Board of Directors .
this Corporation shall be composed of Emar
uel Samue1s, Solomon Brown, and Sim. +
ILowenburg, with said Emanuel Samueis a
President. Solomon Brown, as Secretary
Treasurer, and Sim. II. Lowenburg, VIC
President, and they shall serve until tn
second Wednesday in January. 1920, or ur
al their successors are elected and quail
fled. The Directors shall be elected an
nually by the stockholders at a meetin
held on the second Wednesday in January
| in each year thereafter. Notice Of sue
| meetings shall be given ten days prior /
the date of the meeting, in writing. an
| sent to each stakeholder at his last know,
address. Each stakeholder shall, at sue
apnuai meeting or other meetings, genera
or special, be entitled. in person or b,
proxy. to one vote for each share of stool