Nebraska advertiser., 1857-06-18
ARTICLES OF INCORPORATION
OF EHE
EXCITEMENT

OF TIE 80
NEBRASKAurS ETELEMENT
HH
AIR. 1. Know all men byf these presents; that we,
J. S. Wood, Joseph SteelsjE R.EV. 1fuir; c. W.
Giddines. III. Brownseombe, E.a Ferris. Deroit O.
OlmsteaA p Bartlett, james J.. Giddings, Robert
w. FBrnss. and SD. Gowlss, our heirs and assigns
do hereby associate ourselves together as incorporas
tors for the purposes and uses expressed in these
articles Of incorporation, and do by these presents
CONSTITUTES and declare ourselves q Body corporate
and polite with succession under the name and
style as given IN the following articles, agreeable TO
chapter Third of an Act oil the Legislature Of Ne
braska Territory, entitled can Act for revising, con-
solidating and preparing a general Code for the Ter
4 ritory Of Nebraska,H apprIVed Jan. 25th. A. ID. $50.
Arr. 2. This Association shall be known by the
name of the NebgTBka SsttEemeat G5anoans. The
number Of shares of caIit6l stock shall not be less
thantwentyn0r more than five hundred of fvehun
dred dollars erchs but the price of these Shares may.
be raised at any regular meeting. of the Board Of
Directors, by a vote Of two-thirds present and voting.
ART. g., Every member Of this association shall.
pay at the time of his or her subscribing to the con-
stitutiOn, the sum of twenty dollars Der share so
subsoribedby themyfOr the use of the company; the
balance Of said share to be paid in such manner and
at such times as directed and required by the Board
Of Directors. In case any memberof this Associa-
tion, after being duly notified, fail 10 pay the said
share or shares, or any part tberbef, when called fer
by said Beard Of Directors, and alow the same to
/ ACLL4lA AlUI ~ gnO DD0CC IA III 0nO1EI
shall thereupon be q thorizedand empowered, at
their discretion to declare the said stock of such
members forfeited to the use of the company, and
may thereupOn. proceed to make such disposition
thereof as they may deem meet and proper.
Art. 4. The officers of this Association shall be
a President, a Vice President, a General Superinten-
dent, a Treasurer, a Secretary and Seven Directors,
all Of whom shall be chosen annually by ballot, and
they shall have full power to make. alter or change
their own bylaws.
ART. 5. it shall be the duty of the General SUI
pernJendeat 70 roessya srhssriptians Te- eepstl
stock, sell shares REPRESENTING city lots, and to attend
to the correspondence andthe active, business of the
company. An monies received by him shall be paid
monthly to the Treasurer. He shall give bonds
satisfactory to the Board for the security of monies
C which may be in his hands, and he shall receive for
his services such sum as shall be fixed upon by the
| Board.
ART. 6. 1t shall be the duty of the Secretary to
keep exact minutes of the proceedings of the Presi-
1 dent and Board of Directors and meetings of the
Stockholders, and TO attend to the collection of all
dues Of theeompaAy, and payover the same to the
Treasurer when collected, and take his receipt for
the same, and do and perform such other duties as
may be Incumbent on him by virtue of his office, or
as directed by the bylaws or board of directors, He
shall have his books open to the Inspection of all the
members of the company, and shall receive for his
81 services such sum as shall be fixed by the President
and Board Of Managers. He shall give a bond with
at least two ~sureties, to be approved by the President
4 and Bonrd Of Managers, for the faithful performance
of his duties. ~
: ART. Z. 1t shall he the duty of the Treasurer to
: receive from the Secretary and General Superinten-
I dent all monies collected by them, and give a receipt
= for the same; to ray all orders drawn by the Presi-
e dent an Board of Managers and attested by the
Secretary. He shall keep correct accounts of all
J monies received and paid out by him and have his
books present and open at every meeting of the Board
] and Of the Stockholders, for the inspection of AM
member Of the Association, and exhibit q balance
1 sheet at every regular meeting Of the Board. HI
shall give a bond with atleast two sureties, to be ap.
proved by the President and Board of Directors, f0
the faithful performance Of his duties. -
ART. s. The members of this company shall bt
all such persons of good moral character, as shall
with the consent Of the General Superintendent
subscribe to the constitution, own one ortnore share
Of stock, or shall have received donations from iii,
d company; and theydo mutually agree to protect eacl
other in the maintenance Of theirlawful rights, ant
to act together in the promotion of their mutua
interests. l-slLA bHa .11 -
ART. 8. Any member Of his company may trans
fer a share or shares Of stock to nother person; .bu
: before any transfer Shall be made on the books 0
= the Association, the person or peTsOnstO whom tn
p transfer is made shall sign the constitution, and the,
shall then be subject to all the liabilities, and en-
titled to all the privileges of the original members
ART. 10. The annual meeting of this Association
shall be held on the first Tuesday in February il
d each year, at such place or places as the Presiden
and Board of Managers may designate, till oRe-thir.
of the stock taken shall be owned by persons resid
ing in the settlement made by this company in Ne
braSkas after which time, they shall be held at Tabl
q Rock, Nebraska The officers and managers shaI
d hold regular meetings once an three months, at sucl
p~lacesand on such days as they may appoint. Specia
meetings may be calledhY the Presidents Secret
Special meetings of the Stockholders may be calIe
upon the written request of ten membefs, motto
thereof being given by the Secretary at least on
month before such meeting shall be held. A-1- '-
ART. II. Every owner of capital stock shal
have one vote for every share of stock held by hiI
s or her up to four shares, and one vote for every tW
u additional shares up to twenty; but no member shal
a in any case be allowed more than twelve votes o
any question, and no Stakeholder shall be above
to vote at any meeting who is at the time delinquen
in the payment of his or her stock. IA e.
ART. u. No member or officer of this Assoeiatio
shall have power to bind the company by any cor
tract, or to render them liable to any extent or Il
any purpose, unless authorized so to do by the Board
and the Beard shall in no case render the eompan
o. liable beyond the amount of available funds. Th
e Board shall not have power to sell to any one perso
u to be held in their own right at the same time, MOI
s than eighty acres of land lying within circuits
three miles square, the centre Of the city plots bein
the centres of such squares or circles, nor more tina
three hundred and twenty acres of land of sal
q company lying outside of said squares: provide
that any person so owning eighty acres within sal
eireuitsmay hold sufficient land outside said circui
to make in all $50 acres. The company shall M
g sell to any personsany land till he or she shall hay
If subscribed to this constitution. s'Ats
Il Art. ID. Every Stakeholder shall be entitled
III purchase property of the Association atthe currel
price thereof to the amount Of one thousand dollar
; and have a credit of seven years thereon by payir
one seventh of the principal and all the intere
annually; provided, he or she viii occupy the sam
and has paid for his or her stock, and one share
the purchasers stock, and the property so purchase
shall be held as security for the payment thereof.
ART. 10. No member of this company shall
= allowed to sell Intoxicating. drinks as a beverag
Of within the bounds of any of the settlements maj
on by this company. In case All member of thiscon
ice pany- shall be convicted of so doing, he or she sha
forfeit all his or her right and interest in this cor
he pany, and all his OF her title to lands procured fro
ace the company, and this forfeiture shall be regard,
as real and stipulated damagesto the company !
such an offence, and the property 50 forfeited sh'
eek be appropriated by the Boardto the benefit Of sehoC
in the town or ward where the offence was COZ
Ier mitted. 81. nt susfs s3eat
= ART. Is. The Board shall have power to ISIS
: certificates of stock to be redeemed in town lots.
tii The price of such stock shall be fixed at $50 q shal
20 but it may be raised at any time by the Board at
"a ~. regular meeting thereof. The President of the Boa
NC shall call meetings of the holders of such shares
often as once in three months in the towns whc
7 such shares are to be redeemed, for the purpose
drawing for lots; and when such lots are drawn t
owners thereof shall be entitled to a good and SUI
cient deed therefor. The Board shall have pow
to donate town or city lots for moral, literary or
hgious purposes.