Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1860-07-06
Protective Union, Waterloo Wis

The following article has been handed us
for publication as an advertisement. We cheer
fully give it q place, not only in agreement with
the interests of the stockholders, and the people
where the institution is located, but as matter
of interest to our readers generally
CONSTITUTION
WHEREAS 1t is believed by the undersigned
stockholders, that owing to the great fluctuations
in the price Of grain, and other farm produce,
some plan for the protection Of farmers is abso-
lutely necessary. We therefore, hereby form
ourselves into Joint Stock Company, under
and in compliance with the provisions of Chap
ter Seventy Three, (73) of the revised Statutes,
for the following purposes, to wit
1st To build Warehouse, for the purpose
of receiving, storing, shipping and selling grain
and other farm produce.
ID. To obtain advance payments on grain,
and retain the same in the Warehouse. until
the stockholders can obtain remuneratiye prices
for the same.
Sd. To build or rent suitable room or rooms
for store, in which to purchase and sell Goods,
Wares and Merchandise.
To accomplish this, we have adopted and
subscribed our Names with the number of
shares to the following articles and bylaws.
ARTICLE 1sT. This Association shall be
known as the g Waterloo Farmers Protective
Union.O
ART. ID. The capital stock of this association
shall be divided into one hundred and sixty
shares of twenty-five dollars $3.50 each.
ART. Sd. No stakeholder shall be entitled to
more than five nor less than one share
ART. 4TH. The officers of this association
shall consist of President, five Directors, an
Agent. Secretary and Treasurer.
ART. 9TH. The Directors shall be elected by
fha 11u fba
day in June, at their Store.
ART. 9TH. The Directors shall elect one of
their number to be President, and they shall
also choose Secretary Agent and Treasurer,
(subject to majority vote of the stockholders,
who shall hold their office until others shall be
chosen in their stead.
ART. 7TH. The stockholders shall hold four
regular meetings per annum, on the first Tues
day of June September, December and March.
| at one O'Clock, P. NJ, at their Store, fo1 the
| purpose of hearing report from the Directors.
and transacting any lawful business which they
deem proper. Special meetings may be called
| by the President, or in his absence or refusal.
by two Directors, or by five Stockholders
Notice of such special meeting shall be posted
in at least five public places, and not less than
| six days previous to said meeting
ART. 8TH All stockholders shall have free
use of the Warehouse for storing and shipping
grain, on application to til if Agent, subject
only to the expense of receiving shipping and
| insuring the same. Said expense to be assessed
| equally per bushel on all grain stored in the
| Warehouse. Prouided: that no s'ockholder shall
use the Warehouse for either receiving or ship
ping grain for the purpose of speculation or for
the purpose of assisting friend.
| ART. 9TH. Any stakeholder desiring an adj
| vance in money on grain, shall, on application
to the President or Agent, (having previously
delivered his grain in the Warehuose) receive
as soon as may be, seventy-fve. (75) per cent.
of the market value, ON the day said advance is
made, and the remainder when said grain is
sold. Any stockholder receiving such advance,
shall deliver to the Agent his receipt for grain
| stored in the Warehouse, previously taken, J
and shall receive from the Agent statement
in writing of the number of bushels, of what
kind and quality of grain is stored as aforesaid,
and the amount advanced upon the same
| In case of Loss, waste or shrinkage in the
weight of grain, said loss, waste or shrinkage
shall be assessed equally per bushel among all
who shall store their grain in the Warehouse
ART. 10TH. All goods and merchandise shall
be purchased by the Agent, by directions OF
the Board of Directors, in the name of and for
| the Association.
| ART. 18th. Two thirds of the whole number
of shares of the capital stock of this Association
shall be owned by farmers.