The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1860-07-16

+ ArttCI6& OF AnC0FP0K0kA0n o. ~
Ksekuk Water Power and Canal
| Company. -
n now all whom IA mary concern That we, A..
| IN II. Miller, VIM. Thompson, M. Alexander, ].
| r. Hornish, Vim. Patterson, Al Love, Vim. y.
Mcl3avio and Geo. b. smyah, hAvs associated our
selves and such persons ~ may hsrsAfter become
! associated wit us, ms m Unsupported company,
| pursuant to the provisions OF Chapter 43 Of the
Code Of Iowa, for the purpose OF constructing
| canal upon or convenient 10 tbs west bank OF the
Mississippi river, between the city OF keokak and
| town of Montrose, Lee county, Iowa, or some in
/ teryening points and to create water power for
manufacturing and other purposes, oy wing dam
at the head Of said canal extending into sRid riy
er, and by locks. dykes. and such other Improve
| ments ~ may be deemed necessary and to sell,
rent, or appropriate the power TINS created as may
be found most expedicnt ana nenanciai TO the com
company, and also to adapt and use said canal, at
the discretion of the company, for the purpose Of
| stea mboat navigation. f 2 a8f5a us#.s
Therefore, for the purpose Of carrying out the
object aforesaid, and for the future government OF
the company hereby created, do hereby adop, the
following articles Of Incorporation
1. The name and style Of this company shall
be "THE KEokuK WATER-PowER AND Ca
NAL co.
| q This corporation ahall commence on the LIST
day Of July, A. ID. 1885, and continue fer the full
term of fifty yesrs, and may be renewed by n vote
of three-feurt of all the votes cast at any rega
| lar election.
3. The principal place of business Of this corpo-
ration shall be tho city Of Keokuk.
d.. The Capital Stock Of the company shall be
| TIVE Hundred Thousand Dollars, and may be In
creas cd 10 Five Hundred Thousand Doiiafs by
vote of two-t thirds OF the Directors which stock
shall be divided and represe nted In shares OF One
4 Hundred Dollars each. and may be transferred on
| the books Of the company In such manner and
der such rules the Directors Of the company may
/ make and establish.
s. The Indebtedness or pecuniary liability Of the
company shall NJ time exceed onehaf the ca p
/ ital stock actually subscribed; and the private
property of the stockholders shall be exempt from
all liability for the debts of the company except
to the amount of their stock subscr bed and unpaid.
All stock subscribed must be pald in such manner
and at such times a. may be required by the Board
Of Directors but not TO exceed ten per cent of the
sum subscribed every three months.
@. The company shall have power to borrow
money, purchase, acquire and hold property, real
personal and mixed, In their corporate name or In
the name of any other person in truss and for the
of the company or In connection with any other
organized company, or individuals, and may create
debts, issue bonds, notes or other obligations ans
mortgage lease, transfer, sell and convey all the
property OF the company in the same manner and
TO the same extent az private individuals do
subject, however, to these articles.
Z. The business OF this company shall be con
Quoted by Board of Dire crors, consisting of Ave
ockholders. which number may be increased To 4
which Board Of Directors shall BIO elected by tbs
stock BIO Iders their representatives annually or
the lst Monday in Juna OF each year, cxcepi
, the FIRST election, which shall be held the fire.
} Monday In August, 1862 and il any elsction shal
, not be held at the time herein designated, th,
President may order IN election TO be held on th,
first Monday of any month thereafter by givint
two weeks public notice of the time and place oil
, holding the same. All officers shall hold thei
Offices until their successors are duly elected ant
qualified.
! g. The Board Of Directors sha IL elect from thei
4 number person who shall be the President Of tb
company, and they shall have power 10 elect ap
point Secretary and Treasurer of the Company
and also to employ all ether agents, officers ans
requisite for the transaction and prose
their compensation, and do all other Legitimate
: business Of the company not In conflict with thes
articles.
y q. A majority Of the board of Directors shall
constitute quorum for the transaction Of bust
= ness, but debts liabilities shall be incurred
: or officers elected excepting majority Of ali tn
;, Board Of Directors concur therein. They shal
!, also have power to make all bylaws and reguls
lions they may deem necessary, which shall not b
contrary to Law or these articles.
: 10. The President shall have the general super
: vision and direction Of the business of the compa
NY, and shall represent the company in the sign
: ing aud execution of ali contracts and other obi
= cations, unless otherwise expressly provided an
I, directed by the Board, who may delegate that pow
: er to any other person.
~ IL. The Treasurer shall before entering upo
the duties of his Office, enter into such obligation
- for the faithful discharge of his duties as fh
- Board Of Directors may require, and shall sabm
= quarterly full report Of the condition Of til
= treasury.
= ID. The Secretary shall keep Journal of tn
u by-laws and other proceedings Of the Board, sha
take charge OF all papers Of the company and kee
the same-popcrly ON fie In the office OF the con
pany and at all times shall submit all books an
II papers belonging 10 the company to the inspeeto
of any stockh desiring 10 see the same.
I3 zach stock holder shall be entitied to or
lie vote for each share of capital stock he may
OF and may vote in person or by proxy in writing.
s{sxfA de Aant
90 pany shall be declared and paid pro rata o. tt
n amount of stock actually paid in, and from ii
no potts Of the business III the company actual
u, realized.
or Ia These articles NAV be amended ar modi6s
IT, by vote Of two thirds Of the stockholders, ut
public meeting called expressly for that purpose
@. sAM'L II. MILLER, WM. PATTERSON,
ISIS VIM. THOMPSON, j. M. LOVE,
re M. ALEXANDER, VIM. s. Mc6AvIC
to j. p. HORNISH, GKO. b. SMYTH.
TO- Eeokuk Julv IA IssQ-d4w