74 DAIRYING 



Transferring Stock. After stock has been issued, the same 

 can only be disposed of by such stockholders upon the approval 

 of the board of directors, to the end that the board of directors 

 shall have the sole right to determine to whom the said stock 

 shall be sold. 



The board of directors shall not issue to any one member 

 a greater number of shares of stocks than the number of cows 

 owned and listed by him for the creamery. 



Filling Vacancies. Any vacancies in any office of the asso- 

 ciation shall be filled by appointment by the board of directors. 



Quorum and Powers of Amending By-laws. A quorum to 

 do business shall consist of a majority of all the stockholders, 

 and these by-laws can be altered and amended only by a two- 

 thirds vote of the members present at a duly constituted 

 meeting. 



Special Meetings. The president or a majority of the board 

 of directors are hereby authorized to call special meetings, but 

 can do so only upon giving, at least, ten days's notice of the 

 time and object of any such special meeting to the stockholders. 



In case the said special meeting shall be for the purpose of 

 amending the by-laws, it shall be the duty of the secretary to 

 notify each stockholder at least ten days before such special 

 meeting that the same is called for the purpose of amending the 

 by-laws and the general character of the proposed amendment 

 shall be inserted in said notice. 



Warning. 



Professional creamery promoters are often useful to farmers 

 in awakening an interest in the enterprise and in giving vlauable 

 suggestions concerning equipment, etc. Such persons should 

 be paid a reasonable sum for their services, but the so-called 

 creamery "shark" is a promoter who attempts to swindle 

 farmers by inducing them to raise money for building and equip- 

 ping creameries in localities where there are not 300 cows 

 within three miles of a given point. He also charges excessive 



