The herald., 1922-12-07
CHARTER

ARTICLE VI-All certificates OF stock
issued by this corporation shall be signed
by the president and cOuntersigned by the
secretary -treas urer.
The stock of this corporation can he
transferred only on the books OF the cor
poration. and subject TO such regulations
and fOrmalities as may be by the board
of directors from time to time prescribed
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 thereof; and said stockholders
in proportion to their holdings, shall have
an option and first right to purchase at
the book value Of such stock on Decem-
Der 31st, last preceding, all the shares of
stock TO be thus disposed of by sale or
otherwise Of any of the stockholders. and
said board Of directors shall have period
Of ten days In which to accept or decline
said offer. Should the stockholders decline
to purchase said stock, then such stock
holder Is at liberty to sell or dispose of
the stock. and may do so in any manner
and at any price he may deem fit.
Each share of stock IS issued herein
upon the condition and understanding that
no stakeholder shall sell or otherwise
transfer his stock in violation hereof, and
any such sale or transfer, IL made. shall
be void. and this corporation shall be un-
der no obligation to list said stock on its
books or to regard the holder of the Ger
tificate thereof.
ARTICLE VII-The corporate powers
of this corporation shall be vested in and
exercised by a board Of not less than five
directors. three Of whom shall constitute
a quorum for the transaction Of business.
The first board of directors of this cor
pOration shall be composed Of the follow
ing: p. V. Lacoste. Henry =. Timothy.
Susan p. Lawless, Emile J. LacOste. Frank
Elliott, with the following officers: L. V.
Lacoste. president: Henry Z. Timothy,
vice president; Susan =. Lawless, secre-
tary treasurer, and they shall serve until
the second Tuesday in October, 1924. or
until their successors shall be elected.
The directors shall be elected annually
thereafter at a meeting held on the second
Tuesday in October after such date. No
tice Of said meeting shall be given ten
days prior to the date Of said meeting. in
writing. sent by mail to each stakeholder.
ut his last know place of residence. The
board Of directors may change the date OF
said annual meeting TO any other date. by
written notice to that effect. sent at least
ten days prior to the date to which said
annual meeting shall he changed. directed
by mail to each stakeholder, at his last
known place of residence.
The directors, when elected. shall hold
office for one year, or until their succes-
sors shall have been elected and qualified.
and failure TO hold the annual meeting Of
stockholders, or TO elect annually direc-
tors. shall not operate the forfeiture of
this charter or any rights Hereunder.
ANY vacancy occurring In the board OF
directors may be filed by the directors
for the unexpired term.
ARTICLE VIII-This charter and act
II incorporation may be changed. modified,
altered or amended by and with the con-