208 THE PATRONS TRIALS AND TRIUMPHS. 



At a meeting held on February 18th, 1875, a complete organ 

 ization was effected, with the following result : 



BY-LAWS. 



ARTICLE I. The name of this corporation shall be the GRANGERS BUSINESS AS 

 SOCIATION OF CALIFORNIA. 



ARTICLE II. The said Corporation shall have a capital stock of one million dol 

 lars, gold coin of the United States, divided into forty thousand shares of twenty- 

 five dollars each. 



ARTICLE III. The principal place of business of said Corporation shall be at 

 the City and County of San Francisco, State of California. 



ARTICLE IV. None but Patrons of Husbandry shall be permitted to subscribe to 

 the capital stock of this Corporation. 



ARTICLE V. Stockholders of this Corporation shall be such persons or corpora 

 tions, composed of Patrons, as may have executed or shall execute a subscription 

 to the capital stock in such form as the Board of Directors may prescribe and 

 shall pay to the said Corporation all duly levied and called assessments, or such 

 persons or corporations as the stock may be duly assigned to in accordance with 

 these By-Laws. 



ARTICLE VI. The powers of the Corporation shall be vested in a Board of eleven 

 Directors, who shall have been elected, and who shall hold office for the term of 

 one year, or until tiieir successors should have been elected and entered upon the 

 discharge of their duties. 



ARTICLE VII. The Directors shall be citizens of the United States, Patrons of 

 Husbandry, and Stockholders in the Corporation, and hold, each, at least ten 

 shares of the capital stock. 



ARTICLE VIII. A majority of the whole number of Directors shall constitute a 

 quorum for the transaction of business, and every decision of a majority of the 

 persons duly assembled as a Board (if not in conflict with these By-Laws), shall 

 be valid as an act of this Corporation. 



ARTICLE IX. Regular meetings of the Board of Directors shall be held at the 

 office of the Corporation, at least once in every three months, and at such 

 other times as the Board of Directors may prescribe. Special meetings of the 

 Board of Directors shall be held, at the same place, upon the call of the Presi 

 dent or Vice-President. It shall be the duty of the President or Vice-President, 

 in case from any cause the President cannot act, to call special meetings, either 

 of the Board of Directors or of the stockholders, upon the written request of 

 five directors, or upon the written request of stockholders representing one tenth 

 of the stock issued. Due notice of such requested meeting of the stockholders 

 shall be given by mail, and also by publication, as prescribed in Article xxiv of 

 these By-Laws; and all business which could be transacted at a regular meeting 

 of the stockholders may be done at such requested and specially called meeting. 

 No notice of the regular meeting of the Board of Directors shall be requisite 

 other than that prescribed herein; but of all special meetings the President or 

 Vice President shall cause all Directors residing out of San Francisco to be noti 

 fied by mail or telegraph; and all Directors residing and being in San Francisco, 

 and any others to whom it is practicable to give such personal notice, shall be 

 personally notified. 



ARTICLE X. The Corporation shall have power, through its officers and employes 

 to deal, as a factor, in all kinds of agricultural produce, live stock, wool, agricult 

 ural implements and general merchandise; and also, as a factor, to import and 

 export all articles appropriate or fitting to agricultural pursuits. 



ARTICLE XI. Whenever a vacancy shall occur in the Board of Directors by death, 

 resignation or otherwise, the Board of Directors shall fill the same by appointing 

 a successor for the unexpired term. 



ARTICLE XII. Whenever any Director shall cease to be a stockholder, his office 

 shall become ipso facto, vacant; and such vacancy shall be filled as provided in 

 Article xi. 



ARTICLE XIII. The Board of Directors shall elect from their number a President, 

 and Vice President of the corporation, who shall hold their offices for one year, 

 or until their successors are elected and entered upon the discharge of their 

 official duties. 



ARTICLE XIV. The President or Vice President, or either of them, may be re 

 moved from office at any time on the vote of seven Directors in favor of removal. 



