Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1921-06-25

suit that dozen boxes made me feel
like "a different person
CHAS. F. HARTWELL
soc. box 6 for $3.50, trial size 25c.
AT dealers or from FRUIT-A- TINES
Limited, OGDENSBURG, \. y
Adv
or goods as in the opinion of the
board of directors can he convenient
~ and advantaseously dealt in by the
corporation for mutual benefit. The
buying and selling of all farm pro-
duce.
ARTICLE 3--CAPITAI4 STOCK
Section 1.-The amount of capital
stock shall be S250.0OO, consisting of
ten thousand shares of common of the
par value of $25 per share.
Section 2-The common stock shall
carry the voting power in the cor
poration, one share one vote.
Section 3-As the purposes of this
company are strictly cooperative,
stock will be issued only to local
unions oranges. and other coopera :
tive organizations. No single individ-
ual may hold stock except as security
for money invested through his local
organization with local corporation
note attached.
Section 4-TranSfers of common
stock may not be made without first
offering the same to the corporation
at par value plus whatever profits
may have been earned by>it
ARTICLE 4-FISCAI. YEAR AND
Section 1.-The fiscal year of this
corporation shall begin on January
! and end on December 81 of each
year.
Section 2--The stockholders shall
hold meeting annually on the third
Tuesday in January at 1880 O'Clock
A. Nj. at the main Office of the COM
pany, and shall then elect by ballot a
clerk and board of directors. A ma
Jorlty of the shares of stock issued
and outstanding shall constitute a
quorum at regular and special meet
,ings. The voting may be in person
by an authorized representative Of the
local organization holding stock. or
by written proxy at any meeting. but
no proxy shall be valid If granted
more than thirty days prior to the
meeting in which it is used. Notices
of the annual meeting shall be sent
by the clerk to each stakeholder al
least thirty days before such annual
meeting.
Section Especial meetings may be
held at any time on call by the pres
ident or clerk, and they shall call a
special meeting when ever requested
thereto by holders of one fifth of the
capital issued and outstanding Such
meetings shall be called by written
notices, designating the matters to be
acted on and mailed to all stockhold-
ers at least fifteen days before the
meeting.
ARTICLE 5-DIRECTORS AND OF
FICERS
Section 1.-The President, Vice
President and Treasurer shall per-
form the duties usually required of
such officers. The Clerk shall be q
resident of the State of Maine
Section 2-The Board of Directors
shall consist of one member from
each county in the State of Maine,
of having at least one local coopera-
tive organizat ton holding stock in the
corporation.
Section 3--The directors shall meet
within ten days after the annual cleo
ton and complete the organiza ton by
the election OF a president, vice pres
ident treasurer and executive board.
Section 1.-The executive board
shall consist of the president and
treasurer ex-officio and three mem
bers chosen by the board of directors
from their own number.
Section 5-Directors and other off :
GERS duly chosen and qualified shall
hold office for one year or until their
successors are chosen and qualified.
Vacancies in any Office may be filed
by the board of directors to serve
until the next annual meeting.
Section 6-No employee of the corr
poration may be a director.
ARTICLE 6-DUTIES OF OFF,
GERS
Section 1-Clerk. He shall keep a
faithful record of all meetings of the
executive board, board of directors
and stockholders and faithfully per-
form all other duties required by sta
tute.
Section 2-The directors shall have
general supervision over the business
Of the Company. They may hold spe-
cial meetings when called by the PIES
ident or a majority of their own
number upon two days written NJ t,te.
Section 3-The executive board shall
have direct oversight of the conduct
of the business of the company SUP
ject to the approval of the board cf
directors. and regular monthly meet
lings shall be held. Fer diem and 9th
err reimbursement for services Of the
executive board shall be determined
by the board of directors,
Section 4-The manager shall he
hired by the executive board. lie
shall have charge of all business ot
II cOn1nnnv Subiact IN the s,npr.,x \ i