The herald., 1919-08-21
CHARTERS.

Indebtedness of other corporations or asso
cations, foreign domestic, engaged il
similar business 10 this corporation, thai
| will extend the progress OF the bushes,
hereby sought to be conducted; to issue it.
own stocks, bonds or other obligations il
| payment thereof
To purchase plants, docks, ship yards
warehouses, or other property, real or per.
| sonal, necessary and incidental to the busi.
ness, and to maintain and operate same; Il
| conduct and carry business in all States
! throughout the United States of America and
| IN the Territories thereof, and in all foreign
countries, and generally to do and perform
! anything Incidental to or necessary and
! proper 10, or which may carry out the pur-
| pose OF or extend the interest of this cor
| poration in the development and growth of
its business.
ARTICLE IV.-The capital stock of this
corporation is hereby fixed at the sum OF
Twenty Thousand Dollars ($10,OOOW. and
shall be divided into and represented by two
| hundred shares Of the par value of One Hun
dred Dollars each said stock shall be paid
tor in cash or its equivalent as provided bv
law; and IN such manner and at such times
and IN such installments as may be pre-
scrlbed by the Board of Directors. This cor
Ppr9 3i snail become going concern and
shall be authorized to commence business as
soon as Ten Thousand Dollars of its capital
stock shall have been subscribed for and
Five Thousand Dollars of its capital stock
shall have been paid for. as provided by
law. -
ARTICLE V.-The capital stock of this cor
poration may be increased to the sum of
Fifty Thousand Dollars (S5OOOOOO, by vote
OF two-thirds of all the stock at special
meeting called for that purpose or at regu-
lar annual meeting of the corporation
ARTICLE VI.-All certificates of stock
issued by this company shall be signed by
the President and counter signed bv the
Secretary. The stock of this corporation
can be transferred only on the books of the
corporation and subject to such regulations
and formalities as may be prescribed by the
Board of Directors from time TO time No
stakeholder shall be permitted TO sell or
otherwise dispose of his stock without first
offering the same in writing to the other
stockholders through the Board Of Directors
at price not exceeding the book value there
or and the said stockholders shall have an
option and first right to purchase all the
shares OF stock TO be thus disposed of by
sale, death, resignation or otherwise of any
OF the stockholders, and shall have a period
of ten days in which to accept or decline
said offer.
Should the Board of Directors or the stock
holders decline TO purchase said stock, then
the stockholder or stockholders who made
the offer to sell or otherwise dispose of the
stock may do so in any manner and at any
PtlCe ne or they may see fit, but each share
OF stock is issued herein upon the condition
ana understanding that no stakeholder shall
make a sale or transfer of his stock in viola
Hon thereof, and such sale or transfer if
made shall be void, and this Company shall
DC under no obligation to list said stock on
tificates thereof ~
ARTICLE NI1.-The corporate powers of
tins corporation shall be vested in and ex-
creased by a Board of Directors composed OF
three stockholders. two of whom shall consti-
tute quorum for the transaction of business
but said Board Of Directors NAV be in
creased to five by majority vote of the
outstanding stock at any annual meeting
or at any special meeting of the stockhold1
ers called for such purpose, and without the
necessity of any further amendment or al.
teration of this charter. The Directors of
this corporation may vote in person or by
proxy at any meeting of the Board of Di-
rectors, and the Board of Directors NAV dele
gate any of its powers 10 any officer or
officers or other representative of the Com
pany by appropriate resolution to that ef-
feet The first Board of Directors of this
corporation shall be composed of the fol-
owing Louis Wieland, William ]. Brys-
'on, Herman l. Barnett, who shall serve
until the Second Tuesday in October, 1912 or
until their successors are elected and quail !
led.