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The Chairman stated thet in view of the eforeseid stock purchased from Mr. D. ¥. Griffith becoming treesury stock when paid for and would not be represented upon the Board of Directors, end the thousand shares of common stock which wes purchesed from Gloria Swanson by United artists Corporation, Ltd. {England}, it would be sdvisebie to reéuce the number of directors of the corperetion from eight to seven, and thet the following was « correct quotation from article VIII of the by-laws of the corporetion:
"These by-laws may, be altered, amended or repealed at any regular meeting of the shereholders or at any special meeting thereof duly called for that purpose, by a three-fourths vote of the shares represented and entitled to vote thereat; provided, that im the call for such speciel meeting, notice of such purpose shall be given. Subject to the law of the State of Delaware, the Certificate of Incorporetion end these by-lews, the Board of Directors * by unanimous vote of all present at any meeting « which a quorum is present, amend these by-lews or enact such other by-laws as in their judgment may be adviseble for the regulation of the conduct of the affairs of the corporation, provided that no erendment shall be made in respect to Article VIT hereof, except at a shareholders’ meeting”
end thet such amendment was in order. UPON, a motion was made, seconded and unani
WHERE mously adopted that Section 15 of Article IV of the by-laws be amended to read as follows:
"Section 13. — of Directors. The r of directors 0 s corporetion
1 be seven (7)".
a
The nai presented to the meeting a document, undated, signed by: :
The Pickford Corporetion (by Mery Pickford Feirbenks, President)
The Elton Corporation
(by Douglas Fairbanks Treasurer) Samuel Charles in