254 ALASKA INDUSTRIES. 



of the Treasury, and he is hereby authorized, to designate the months in which the 

 fur seals may be taken for their skins on the islands of St. Paul and St. George, in 

 Alaska, and in the waters adjacent thereto, and the number to be taken on or about 

 each island respectively. 



THE ORGANIZATION AND REGULATIONS OP THE ALASKA COMMERCIAL 



COMPANY. 



BY-LAWS OF THE ALASKA COMMERCIAL COMPANY, SAN FRANCISCO, CAL. 



■J. The corporate name of this company is the Alaska Commercial Company, and 

 its affairs are under the control of five trustees, who shall hereafter be chosen by 

 the stockholders of the company on the second Wednesday of June in each year, 

 and who shall hold office until their successors are elected. The annual meetings 

 of the stockholders shall be held at the office of the company. At all elections of 

 trustees by the stockholders, each stockholder shall be entitled to one vote for 

 every share of stock held by him on the books of the company. Stockholders may 

 vote by proxy. All proxies shall be signed by the party owning the stock repre- 

 resented. 



II. The principal place of business of the company is San Francisco, Cal. 



III. The regular meetings of the board of trustees will be held at the office of 

 the company on the first Wednesday in each month at 12 o'clock m., and no notice 

 of such meeting to any of the trustees shall be requisite. Other meetings of the 

 board of trustees may be held upon the call of the president, by notice, signed by 

 him, of the time and place of meeting, personally served on each trustee residing 

 within this State, or published in a newspaper of general circulation in San Fran- 

 cisco for ten days successively next preceding the day of such meeting. Special 

 meetings may be held upon notice — signed by three trustees, stating the time and 

 place of meeting, and the purpose for which the meeting is called — having been 

 duly served on each trustee or published in a newspaper of general circulation in 

 San Francisco for ten days successively next preceding the day of meeting, and no 

 business other than that specified in the notice shall be transacted at such special 

 meeting. At all meetings of the board any three of the trustees being present shall 

 constitute a quorum for the transaction of the business of the company. Adjourned 

 meetings may be held in pursuance of a resolution of the board adopted at any 

 regular or general meeting of the board. Any three trustees elected at any annual 

 meeting of the stockholders of the company, and being present at the close of such 

 stockholders' meeting, may, on the same day, without notice to any of the trustees, 

 meet and organize the board by the election of officers, and may transact such other 

 business as may come before the board at such meeting. 



IV. The officers of the company shall consist of a president, a vice-president, and 

 a secretary, who shall be chosen by the board of trustees at their first meeting after 

 the annual election of trustees ; such officers to hold office one year or until their 

 successors are elected. 



V. The president, or, in his absence, the vice-president, shall preside at the meet- 

 ings of the board. In case neither is present, the board may appoint a president 

 pro tempore. 



VI. All vacancies in the board may be filled by the board at the next meeting 

 after the existence of such vacancy, and it shall require the affirmative vote of three 

 trustees to elect. In case of any vacancy occurring among the officers or agents of 

 the company, the same may be filled at any meeting of the board. 



VII. All certificates of the capital stock of the company shall be signed by the 

 president and secretary, attested by the corporate seal of the company, and can be 

 issued to the parties entitled thereto or their authorized agent. All transfers of 

 stock shall be made on the books of the company by the secretary, upon surrender 

 of the original certificate or certificates, properly indorsed by the party in whose 

 favor the same was issued. No stock shall be transferred to any person not a stock- 

 holder of the couipany at the time of such transfer unless the same shall have been 

 ofi'erod for sale to the company or stockholders of the company, and the purchase 

 at the fair cash or market value refused, except by authority of a resolution of the 

 board of trustees permitting such transfer. 



VIII. The corporate seal of the company consists of a die of the following words: 

 "Alaska Commercial Company, San Francisco, California." 



IX. The corporate seal, and all property, securities, interests, and business of the 

 company shall be under the control and general management of the president, sub- 

 ject to the direction of the board of trustees. The funds of the company shall be 

 deposited (from time to time as they are received) to the credit of the company 

 with a bank doing business in San Francisco, to be designated by the president, and 

 the said funds can be drawn from such bank only by proper checks or drafts, signed 



