Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1860-07-06
BYLAWS.
DUTIES OLE OFFICERS.


ART 1sT. 1t shall be the duty of the Presi-
dent to attend and preside over all the meetings
of the Directors and of the stockholders In
his absence a President pro TEN. may be elected.
ART. ID 1t shall be the duty of the Directors
to take charge of all the stock, property, affairs
and business Of this Association. They shall
receive and assert all grain received in the
Warehouse, Tor appoint a suitable person to
perform the same. They shall direct the
Agent in the purchase and sale of goods and
merchandise. They shall keep all the property
of the stockholders, and all grain stored in the
Warehouse fully insured against loss by fire
or water. They shall make report, quarterly,
to the stockholders of the amount of goods sold
the last quarter, the amount of grain received in
and sold from the warehouse, and semi-annu-
ally, on the first Tuesdays of December and
March, they shall report the amount of goods
and merchandise, money or other property on
hand, and the amount due the Association
also the amoant of all claims and demands, if
any, against the Association, and declare any
dividend which may have accumulated upon
the shares, and pay the same to the stockholders
at the time and in the manner q majority of the
stockholders shall direct. They shall make
arrangements to obtaia money upon the grain
stored in the Warehouse, and make advance
payments on said grain to its owners. They
shall have power to purchase materials for
and merchandise, pledge the credit of the
Association, for money or property, but in no
case to pledge the credit of the Association for
larger amount than the capital stock, nor pledge
grain as security, belonging to the stockholders
who want no advance payment, and transact
any other business required by majority vote
of the stockholders, or what they deem neces-
sary for the benefit of the Association, which
does not conflict with the Constitution, Bylaws,
and inotructions of the Association.
Sec 3D. 1t shall be the duty of the Agent to
take charge of the Store, purchase and sell the
Goods, and Merchandise, by direction of the
Board of Directors. He shall keep an account
of all money received and paid by him. He
shall keep ali account of all grain received in
and sold from the warehouse (giving the owners
a receipt for the same) also the amount adj
vanced in money, or merchandise on each lndi-
viduals grain and perform all the duties re-
quired by majority vote of the Directors
Sec. Attn. 1t shall be the duty Of the Treas
urer to receive all monies of the association and
pay the same on orders signed by the President
and attested by the Secretary. He shall keep
q full and detailed account of whom and for
what received and to whom and for what paid.
He shall make statement of the associations
funds, whenever called upon by the Directors
stockholders and delivered up when legally
called upon. All monies, papers, or other prop
tors or his successor in office.
SEC. 9TH. 1t shall be the duty of the Secre-
tary to keep full and accurate record of all
the proceedings of each and every meeting of
of the Directors and of the stockholders. He
shall furnish the Secretary of State and the Vii
lage Clerk with all papers which by law this
association is required to furnish and attest all
orders drawn on the Treasurer if correct.
ART. ID. The Directors before entering upon
tha 1,,f,a 81 l,o,,, IT, eLo1l ,ooI
and lawful bond to be approved by majority
of the stockholders for the faithful discharge of
their duties, and deposit it with the Secretary.
The amountof the bond shall be Forty thousand
dollars. The Agent and Treasurer shall also
give bonds to the Directors in such sums as
majority shall direct.
ART. Sd. The percentage to be charged on
goods and merchandise shall be regulated by
the Board of Directors. but stockholders shall
receive the same as near as may be at acutual
cost.
ART. 4TH Nothing in the Constitution or by
laws shall give power or authority to the Di-
rectors to sell grain stored in the warehouse,
contrary to the wishes of the owner. But the
Director shall have power;to hold all grain On
which money has been advanced, until the same
be returned with interest and expenses as be-
fore provided
ART 9TH. The standard for asserting and
numbering grain shall be the same as that
adopted by the Milwaukee Board of Trade
ART. 9TH. Any Article or articles of this Con-
stitut;on and By laws may be altered. amended
or repealed, or new articles adopted, at any
regular or adjourned meeting by majority
vote of all the stockholders.
Signed, HENRY C. MEAD.
GEO. N. DOOLITTLE,
NELSON SICKLES,
JAMES H. KNAPP, Directors.
TRUMAN MERRIAM.
J. c. LEONARDSON,
W0nnU