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PAXTON PAMK AWIICIATION.PrAr.fm of Animat Mrritnr-OMreraIII ncivirilAnoc with a duty nrrcdupon each and aIJ uf |he stockholders of said AsAoriallitn, flio annual momhi^ was held M the olTIro of 0. II. ]Vuw in ihisvitj on SuftinUr, Jan. Sil, i#74, At I I oVdnck A M. lYoKent* .lohn Hod lev, Win. II. Hrnjn, John Carr, 0, W. Critztn, K Onuen, N\ Dnhlgren, Jnhn V. Pay, «lfau»«n II. Flagg, Calvin II. Fjrw, II. R mil, J. P. MiddJfrofT, MnnScI Moudy, Wm, Xooi; J, L Shprnnu,»ml Georg© W right.J I*. MIlt;Wlccf»(T, Jainck If Flagg And John j were, on motion, nppoiuh»d » ronmiiitr^todiall J*y La* a for governing tho association. Tho ctnnmitk j submitted tin* following roporl whuih was adopt*!.BV I.AWS or 1MK P4XT0V PARK AWRHJIATHm Of ronn cotJNrr hi.jnois.The r«»to» Pmk Association docs hereby adopt the loHuwing By»l,aws.1 st. Tlio A«i ot ini ion rind I consist of A t p managers, whoso terms of oftee shall be for ono year* and until thclc successors shall be elected Ami lt;4 u« lifted, and (lie rogiila? election shall lie on the first 9alrday after tho first day in January of each year, for all mauHgcr* oi)J officers, after giving ten day* police to each stockholder, as shown on? record, by pointed or written nolle* through the Poei Office. And in Cist of a failure to hold an election upon s Aid Saturday then thoProsldent and cretary, or either, irifij call an election as 60011 thereafter as tImyr, or either of them, may deem proper.Sod. The o*ecutivo officers shall lc a, l*reafdcnt, Secretary and Treasurer whose terms of office shall bo for om yoar and until a successor or rtucccssorB ah all be elected nnd qualified.ad. Tlio Treasurer shall giclt;? bond In tlio sum of one thousand dollars, for the faithful performance oi all duties, as such Treasurer, whlfh bond *hali benppioved by the managers, and may be at any time increased in amount, or a new bond, or add*, tlo n r.l sc ctirily rcq u ire d. In case tb a m o 1 lasers do not meet in time to appiove the bond, then the President shall act yt their Stead till 1’ie nert meeting. The President shall enrry out all orders of tho manftgeig and have full power to act h\ all matters uhero tlio mrthugo.-s eantmt And the President and 3etretAi7 •Ml atgji »l| tegs) writings obligator/, irf\ieb sbal( bli\d M»e association.4th* The share# Shfcll be tu (Mnaunt twen* ly4*# dollars, (m) esoh, Add shill be paj-ablo to said association ^nstaiZmentj, at sueli timeri sod manner as the mating*rs shall direct, and whenever Any legal holder of anjr stock in jaid sasoeiation shall neglect or refuse to pn hh or her share, or shares, or any par; thereof, 9* aball bo determined by the mujoiity of tU managers, for the space of twenty da;sr after persona! n(»tice or demand tlierefor, or for thirty days alter a demand made therefor by printed or writen notice, or partially one .uid partially the other, through tho mail, th^n and m that case, tbe assoc ration may bring suit for the balance of said share oi* shares so due and unpaid Into said association,5th Ai*d farther if any per-on bUaU refuso or negteet to pay any demand determined by 1 be managers as the portion and share* due on hi* sjookfor thirty das after demand ly notice through the Post Office, the managers ruaj declare the stock and tharcs 00 Ik Id hy »hh) person forfeited* arid then shail otter ihe same for aalu to tho highest bidder for cotft, and tho proceeda, el^all fir»4 be i^ppjlad to the umoqu^ due fcuid shares to. tho association, and to any cost of 6uit for the same. And the balatice, if Any, shall be paid on demand to the person wtiojje stock had been so Jot felted a»d aold, and if no bidders, then the association way bid on the same, as auy private individual, or maj bid at any time tc amount ol its claim?.Gth. The shapes may be transferred by Adignniotil on the lack of lUe.certificate, and by presenting the same so assigned to the Secretary to transfer upon the books of the aatocUt'on, or may bo surrendered to him and caned led by the Secret*) y, and new certificates i bsue d t here for. A11 sto i*k shall bt; receipted for upon the Secretary’s books, before delivering to the propei own er, £s cry subscriber may bavo as many of iis shares in eertiflcaies of stock as he aha(i elect, or may bate a certificate for each t ha re, and may at any time surrender t^e same aud take new certificates. 411 certificates of share or shares entitle ttie owner thereof to his full iultreat \t\ foa( estate and all other property, and effpc^b of suid association by statuie pro^ ided, whicL certificate shall be signed by the President and 1 8ec rotary.7th. In case of a vacancy in any office from any causo, the managers aliall appoint a person to fill tho vacancy till the ns*t regulat election,8th. The President or Secretary, or any two tnanageis, may call a meeting of the Managers at any time, or a meeting of the stockholders, upon giving five days' notice Jo said managers 01 stockholders, as the cabc may be, through the mat! or personally. Aftd at all such meetings the Presidentshall preside, and Secretary act for said meeting, but in ease of the absence of either, then some one shall be elected to act in bis stead pro (pm. The notice shall give the time and place of meeting, and a majority tff the managers may transact afcy business of the asswifttion.Ot) motion a committee coosiatirtng of John fJodley, IS. Dahlgren and Darnel Hot)ty wa« appointed to recommend per-manont officers; and reported lu favor of C. Jf. Frew, for President, George Wiiglit, for Jreasurer; and J L. Sherman, for Sac-ret*ry; nnd they wefo duly elected.Jr }\ MiiJfJiecofJ, G. \V. Cruzeu, John JJodScy, B. F. Uill and W'. U. liruyn, were, nominated and duly electcd manageri of v. j the aesoeiation, fur one year. ifj Adjourned, ttne tltA
Newspaper Details
Paxton Weekly Record
Paxton, Illinois, US
Thu, Jan 08, 1874
Page 3
Full Page
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David K.
TX, USA 07 Apr 2020
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