Organization of an Association 57 



packed during the year such subscriptions were or will be re- 

 spectively paid. The debit balance of such stock investment 

 shall be inventoried each year as packing-house supplies, and all 

 principal or interest repaid shall be ratably credited to the boxes 

 packed each year as repaid respectively. 



6. The Board of Directors may fix the boundaries of the 

 territory tributary to the packing-house of this Association from 

 which fruit will be received and packed, but after a member has 

 been accepted no change shall be made in boundaries which will 

 exclude him without his consent until his property right and 

 interest in the corporation has been appraised by the Board of 

 Directors and the value thereof so found paid to him in gold coin 

 on surrender of his membership certificate. 



ANNUAL MEETINGS 



7. The annual meeting of this corporation shall be held at the 

 packing-house on the second Saturday in September of each year 

 at the hour of 9 o'clock A.M. The Secretary shall mail to each 

 member a notice of said meeting at least two weeks prior to the 

 date thereof. 



The President of the Board of Directors shall preside at the 

 annual meeting of members ; in case of his absence the Vice 

 President shall preside, and in case of the absence of both, the 

 members shall select a Chairman to preside for the time being. 



At this meeting Directors shall be elected, who shall serve 

 for one year, or until their successors shall be elected and quali- 

 fied ; and such other business shall be transacted as may prop- 

 erly come before the meeting. In the election of Directors, 

 or the transaction of any other business, each member shall have 

 as many votes as he has acres of bearing orchards marketed 

 through this Association. 



Proxies may be voted by any member or representative of a 

 member, authorized in writing to do so, such authority having 

 first been filed with the Secretary. 



Special meetings of the members may be called by the Board 

 of Directors at any time by mailing notices to each member at 



