Marketing Fruit 321 



present full statements at the regular annual meetings of the 

 stockholders, showing in detail the assets and liabilities of the 

 Association, and the condition of its affairs in general. 



Second. To supervise all acts of the officers and employees, 

 require the Secretary, Treasurer, and Manager to keep full and 

 accurate books of account of their respective business. 



ARTICLE IV 



SECTION 1. At the regular meeting in the month of January 

 of each year the Directors shall declare such dividends upon the 

 capital stock, to all the stockholders then appearing on record, as 

 may be warranted by the net earnings of the Association for the 

 preceding year. 



ARTICLE V 



SECTION 1. The Board of Directors may, whenever they shall 

 deem it necessary, place on sale so much of the capital stock of 

 the Association as may be necessary to raise funds for the pur- 

 pose of carrying out the objects and purposes of the organization 

 of the Association, such stock to be sold only upon the following 

 conditions: 



First. That not more than three hundred (300) shares thereof 

 be sold to any one person, firm, or association of persons. 



Second. That such stock be sold only to fruit-growers in 

 Grand Valley. 



Third. That such stock be sold at not less than par value of 

 Five Dollars ($5) per share. 



ARTICLE VI 



SECTION 1. The Annual meeting of the stockholders for the 

 election of Directors shall be held on the third (3d) Saturday in 

 January of each year, but if, for any reason, it should not be 

 held on such day, it. may then be held on any day subsequent 

 thereto, as hereinafter provided. 



SECTION 2. The Board of Directors shall be elected by the 

 stockholders at the regular Annual meeting. Public notice of the 

 time and place of holding such annual meeting and election shall 

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