The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1860-08-06


Articles Of Incorporation OF the
Ksskuk Water Power and Canal
Company.
TX NOW all whom IL may concern That We, 8.
IL Y. Miller, Nm. Thompson, Al. Alexander, j.
II. Hornish, VIM. Patterson, j. NJ. Love, Vim. 8.
McGavic and Geo b. smyth. have associated our
selves and such persons as may hereafter become
associated with US, as an incorporated company,
pursuant 10 the provisions Of Chapter AZ Of the
Code OF Iowa, for the purpose Of constructing
canal upon or convenient to the west bank Of the
Mississippi river, between the city Of keokuk and
town OF Montrose, Lee county, lows, or some In
tervening points, and TO create water power for
manufacturing and other purposes, by wing dam
ut the head OF said canal, extending into said riy-
er, aud by locks, dykes, and such other improve
ments As may be deemed necessary and to sell,
rent, or appropriate the power thus created az may
be found most expedient and beneficial to the CON-
company, and also TO adapt and use said canal, at
the discretion Of the company, for the purpose Of
steamboat navigation.
Therefore, for the purpose Of carrying out the
object aforesaid, and for the future government Of
the company hereby created We do hereby adopt the
following articles Of Incorporation
l. The name and style OF this company shall
be 1.-THE KE0KUK WATER-P0WER AND Ca
NAL co"
2. This corporation shall commence on the LIST
day of July, A. ID. 1850, and continue for the full
term ut fifty years, and may be renewed by a vote
OF threefeurths OF all the votes east At any regu
lar election.
5. The principal place OF business OF this corp0~
ration shall be the city Of keokuk.
4. The Capital Stock Of the company shall be
TIVE Hundred Thousand Dollars, and may be i'm
creased to Five Hundred Thousand Dollars by a
vote m two-thirds OF the Directors, which stock
shall be divided and represented in shares of One
Hundred Dollars each. and may be Transferred
the books OF the company In such manner and un-
der such rules as the Directors Of the company may
make and establish.
.. The Indebtedness or peeuniary liability Of the
hail Al half
ilai stock actually subscribed; and the private
property Of the stoc shall be exempt from
all liability for the debts Of the company, except
TO the amount Of their stock subscribed and unpaid.
All stock subscribed must be PAID In sueh manner
and at such times may be required by the Board
Of Directors bn not to exceed ten per cent. of the
| sum subscribed every three months.
q. The company shall have power TO borrow
money, purchase, acquire sad bold property real,
personal and mixed In their corporate In
the name of any other person In trust and for the
use of the pany, In connection with any other
organized company, or individuals, and may create
aebts, ssne bonds, notes or other obligations, ard
mortgage, lease, transfer, sell and convey all the
| property Of the company in the same manner aud
| 70 the same extent private individuals eau do,
subject, however, to these articles.
| I. The business Of this company shall be con-
Quoted by Beard of Dire ctors consisting of Eve
stock holders, which number may be increased to T.
which Board OF Directors shall be elected by the
stoeshoders or their representatives, annually, on
the Ist Monday In June OF each year, except
| the first election which shall be held on the frst
| Monday in August, 1860, and il any election shall
| not be held II the time herein designated, the
/ President may order election to be held ON the
| frat Monday OF any month thereafter by Riving
two weeks public notice of the time and place Of
| holding the same. All officers shall hold their
Offices until their successors duly elected and
qualified.
5. The board Of Directors sha IL elect from their
number person who shall be the President of ths
point Secretary and Treasurer Of the Company
and also TO employ all other sgents, officers and
assistants requisite for the Transaction and prose
| cution of tho business Of the company, and fin
their compensation, and do all other Legitimate
business of the company not in conflict with these
articles.
q. majority Of the board of Directors shall
constitute quorum for the transaction Of bust
ness, but De debts liabilities shall be incurred
or officers elected, excepting maJority of all ths
| Board of Directors concur therein. They shall
also have power To make all bylaws aud regula
| 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 and execution Of all contracts and other obi
gations, unless otherwise expressly provided ane
directed by the Beard who may delegate that pow
IL. The Treasurer shall, before entering upor
the duties of his Office enter into such obligation
for the faithful discharge Of his duties tn
Board Of Directors may require, and shall submit
quarterly . full report OF the condition. Of TIL
4 treasury.
IL. The Secretary shall keep journal Of I'll
bylaws and other proceedings Of the Board, shal
take charge OF all papers Of the company and kes
the same. properly lie In tbs Office of the com
pany, and NJ all times shall submit all books an
papers belonging to the company 10 the inspection
Of any stockhoher desiring 10 see the same.
| IL. Zach stock holder shall be entitled 10 on
vote for each share Of capital stock be may own
! and may vote In person Or BY proxy in writing.
IA. All dividends declared and paid by this co IN
paDy shall be declared and paid pro rata on th
amount Of stock actually paid in, and from tn
net potts of the business Ut the company aetuall
realized.
ID These articles may be amended or modihe
by avote Of two,thirds Of the stockholders, 1T 50
public meeting called expressly for that purpose.
SAM'L f. MILLER, Nm. PATTERSON,
VIM. THOMPSON, j. NJ. LOVE,
M. ALEXANDER, VIM. 3. McaAVIC,
|. j. r. H0KNIsH, ONO. b. SMYIH.
| kuk Jtyv "a A