The herald., 1919-11-13
CHARTERS


troll letters patent and inventions, and
shares of stock of other corporations, and
to vote the stock owned by it the same
as a natural person might do; TO issue
bonds, notes and other evidences of in
debtedness and to secure the payment of
the same by mortgage, deed of trust, or
otherwise; to act as agent, trustee, broker
or in any other fiduciary capacity and to
borrow and loan money; and generally to
do and perform such acts and deeds and
transact such business as may be incl
dental or germane to any of the objects
and purposes herein set forth.
ARTICLE Iv-The capital stock of
said corporation is hereby fixed at the
sum of ten thousand tS10,OO0) dollars,
divided into one hundred shares of the
par value of one hundred (S100 dollars
each, all of which Shall be common
stock and the same to be issued for cash
or in payment of property or services
actually received by or rendered to the
corporation.
At all meetings of stockholders each
stakeholder shall be entitled to one vote
for each share of stock standing in his
name. said vote OF be cast in person or
by written proxy.
The parties hereto declare that they
have subscribed for the number of shares
of the capital stock of the said corpora
so that this act of incorporation shall
serve as an original subscription.
No transfer of stock shall be binding
upon this corporation unless made and
recorded upon its books.
The amount to which the capital stock
of said corporation may be increased is
hereby fixed at the sum of one hundred
thousand (S100.00O) dollars.
ARTICLE v-No present or future
holder of common stock shall ever sell,
assign or transfer, other than by inheri-
lance any of the capital stock of this
,,n%sI -IoII
first been offered in writing to the re-
naming holders of stock for the benefit
of those who may desire to purchase tn.
same. though the Board of Directors, for
a period of ten days at a fixed value. 1t
shall be the duty of the Board of Di-
rectors promptly on receiving an offer
of sale of any of the stock of the corpora
ton, to communicate the same to the
shareholders in writing, through the
secretary of the corporation, and each
shareholder shall be entitled to purchase
such proportion of the stock so offered
for sale as the number of shares owned
by him or her. at the time, bears to the
pumber of shares owned by all other
shareholders desiring to participate in the
purchase.
If said offer be not accepted by the
other holders of stock within the time
above prescribed. then such shareholders
desiring to sell shall be entitled to sell
and transfer their stock to such person
or persons as he or she may see fit for
not less than the price at which he or she
has offered his or her stock to the other
shareholders. No sale under foreclosure.
attachment or other process or by virtue
of any power of attorney. pledge or
hypothecatiOn shall be validity made of
the stock of this corporation until the
foregoing requirements have been com
piled with by the person or persons firm
or corporation provoking such fOreclos-
ure or sale. The provisions of this ar
ticle shall be printed upon the face of
each certificate of stock
ARTICLE vI-All the powers of this
cOrDOration shall be vested in and be OK
ercispd by a board of directors composed
of not less than three nor more than five
shareholders. and a majority shall cODsti-
tute a quorum for the transaction of all
business.
A majority of the board of directors
voting in person shall be required to pass
any resolution or adopt any bylaw
which. when so passed adopted, shall
become q valid corporate act.
The board of directors shall be elected
annually at general meeting of the
shareholders to be held on the first Mon
day in April, 1920, and on the same day
and month in each succeeding year, after
ten days written notice mailed to each
shareholder at his last known address APP
pearing upon the books of the corporation.
unless such notice be waived in writing
by all of the shareholders appearing as
such upon the books. The failure, how
ever. from any cause TO hold the annual
meeting Of the shareholders or the failure
to elect directors thereat. shall not oper-
ate the forfeiture of this charter nor i'm
pair the corporate management, but the
directors then in Office shall serve until
their successors shall have been duly
elected. qualified and installed. Any va
cancy in the board of directors shall be
filled for the unexpired term by the re-
naming directors.
The officers of this corporation shall
consist of a president, one or more vice
presidents and secretary and treasurer.
The Office of secretary and treasurer may
be held by one and the same person I'M
der the name secretary treasurer; the
office of president and treasurer or presi
dent and secretary, and vice-president
and treasurer, or vice-president and secre-
tary, may likewise be combined under the