The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1860-07-14
Articles 81 Incorporation 81 the
ksskuk Water Power and Canal

Ksskuk water Power and On mai
Company.
II NOW all whom II may concern. That we. s..
IN T. Miller, VIM. Thorn pson, NJ. Alexander. ].
Y. Hornish, Vim. Patterson, j. Nj. Love, VIM. q.
McGa VIC and Geo b. Smyth, have associated our
selves and such persons ms may hereafter become
| associated with us, ms m incorporated company
pursuant to the provisions of Chapter AZ of the
Code OF Iowa, for the purpose Of constructing a
canal upon or convenient to the west bank OF the
Mississippi river, between the city Of Ksokuk and
town of Montrose, Lee county, Iowa, or some in
tervening points, and to create water power for
manufacturing aud other purposes, by wing dam
the head of said canal extending into said riy-
err, and by loo KS, dykes, and such other improys
ments rs may be deemed necessary and to sell.
rent or appropriate the power thus created a. NAV
be found most expedient and beneficial to the CON-
company, and also TO adapt and 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, do hereby ADOPT tho
| following articles of Incorporation
J. The name and styie Of this company shall
be "THE KEoKUK WATERPROOF ER AND CA
NAL CO."
| 2. This corporation shall commences ON the lat
day of July, A. D. 1850, and continue fer the full
| term Of Atty yexrs, and may be renewed by vote
Of three-faurths of ali the votes cast Ut any regu-
lar election.
3. The principal place OF business OF this corpo.
ration shall be the city Of Ksokuk.
| a. The Capital Stock Of the COMPANY shah be
| Two Hundred thousand Dollars, aud NAV be In
creased to Five Hundred Thousand Dollars nv n
vote of two-thirds of the Directors, which stock
shall be divided and represented IN shares OF On
| Hundred Dollars each. and may be transferred ON
the tooks II the company In such manner and uu~
der such rules as the Directors of the company NAV
make and establish.
D. The indebtedness or pccuniary liability of the
company shall at NO time exceed one-han the cap
itai stock actually subscribed; and the private
property OF the stock shall be exempt from
all liability for the debts of the company excapt
to the amount Ut their stock subscr bed and unpaid
All stock subscribed must be paid in sueb manner
and at such times rs may be required by the Board
OF Directors but not to exceed ten per cent of the
sum subscribed every three months.
q. The oompsny shall have power to borrow
money, purchase, acquire and hold property rsal
personal and mixed IN their cor porate name or in
the name OF any other person in trust and for the
use OF the company or In connection with any other
organised company or individuals, and NAV create
debts issue bonds, notes or other obligations and
mortgage, lease, transfer, sell and convey ali the
property Of the company in the same manner and
TO the same extent as private individuals esn do.
sul lect, however, to these articles.
q The business of this company shalt be con-
Quoted by Board OF Dirs ctors, consisting Of Eve
stockholders, which number may be increased TO 7,
which Board OF Directors shall be elected by the
stockholders or their representatives annually on
| the ist Monday In June OF each year, except
sbs hfst ctectton, Which snail De Aetd the first
Monday In August, 500, and liz any election shall
not be held at the time herein designated, the
President may order on election to be held ON the
hrst Monday OF any month thereafter by giyinp
two weeks public notice Of the time and place Of
holding the same. All officers shall hold thel,
Offices until their successors duly elected and
qualified.
8. The Board Of Directors shall elect from their
number person who shall be the President of the
company, and they shall have power to elect or ap
point a Secretary add Treasurer OF the COMPANY
and also to employ all other agents, officers and
assistants requisite for the transaction and prose-
eution of the business of the company and q,
their compensation, and do all other legitimatt
business Of the company not in conflict with these
| articles.
.. A majority Of the board Of Directors shall
| constitute quorum for the transaction of bust
ness, but ne debts or liabilities shall be incurred
or oincers elected excepting majority Of all tn,
Board OF Directors therein. They shall
also have power to make All bylaws and regula
lions they may deem necessary, which shall not b,
contrary TO Law or these articles
To- The President shall have the general sinner
vision and direction Of the business OF the oompa
ny, and shall represent the company in the eli
Ing and execution OF NIL contracts and other obi
cations, unless otherwise expressly provided ane
er to any other person.
III. The Treasurer shall, before entering upor
the duties of his ofice enter into such obligation
for the faithful discharge Of his duties ~ tn,
D""iu va Dueosois may require, ana snail suomi
quarterly full report Of the osndi ton of tn,
treasury.
H. The Secretary shall keep journal OF th,
bylaws and other proceedings Of the Board, shall
take charge OF all papers Of the company and keeI
the same.pwperly on fle In the ofioe Oh the com
pany, and Mt all times shall submit ell books ant
papers belonging to the company to the inspection
of any stockhoider desiring TO sec the same.
Is. Zach stockholder shall be entitled to on,
vote for each share Of capital stock he may own
ord vc.e IN bv NOV w ~rst,rS
IA. All dividends declared and paid by this GO N
pany shall be declared and paid pro rata on the
amount OF stock actually paid Ia, and from thu
net potts of the business OF the company actually
| realized.
10. These articles may DO amended or modified
by vote Of two thirds Of the stock holders at any
public meeting called expressly for that purpose.
sAML +. MILLEn, VIM. PATTERSON,
MN. THOMPSON, j. M. LOVE.
/ M. ALEXANDER VIM g. Mc0AVIc
| l. HDRNI.H nEa n Snvru -