The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1860-07-17

Articles OF incorporates % -
Ksskuk water Power and CAnAl
u now all whom III msy concerns That We, h
| IN u. Miller, VIM. Th0npson, M. Alexander, J
r. Hornish, VIM. Patterson, !. M. Love, Vim. 3.
selvee and such persons - may hereafter become
| associated with us, IN Unsupported compan VI
pursuant to the provisions OF Chapter Is of the
Code of lows, for the purpose OF constructing a
! canal upon or convenient TO The west bank OF the
Mississippi river, between the city of Keok ak and
town of Montrose, Lee county. Iowa, or some In
tervenng points, and to creAte a water power for
manufacturing and other purposes, by wing dam
at the head of said canal, extending into said riv-
err, and By ioaks, dykes, and such other improve
ments as may be deemed necessary and to sell,
rent, appropriate the power thus created as may
be found most expedient and benefcial TO the com
company, and also 10 adapt and use said canal at
the discretion Of the company. for the purpose Of
Thercfore, for the purpose Of carrying out the
object aforesaid, and for the future government of
the company hereby created, do hereby adopt the
following articles Of Incorporation
i. The name and style of this company shall
be 1.-THE KEoKUK WATER-PoWER AND CA
NAL CO."
2. This corporation shall commence on the Ist
day Of July, A. ID. 1860, and continue for the full
term Of ffty yesrs, and may be renewed by vote
Of thrse-fsurths Of all the votes cast ut any reru
lar election.
3. The principal place or business of this corpo-
ration shall be the city OF Keokuk.
q. The Capital Stock of the company shall be
I've Hundred Thousand Dollars, and may be In
creased to Five Hundred Thousand Dollars by a
vote Of two-thrds of the Directors, which stock
shall be divided and represented in shares of One
Hundred Dollars eaeh. and may be transferred on
the books ct the company in such manner and un.
der sach rules as the Directors Of The company may
make and establish.
8. The indie tedness pecuniary liability of the
company shall ut no time exceed one-haIf the CAP.
itsl stock actually subscribed; and che private
property Of the stockholders shall be exempt from
all liability for the debts Of the company, excapt
10 the amount Of their ssoek subscribed and unpaid
All stock subscribed must be paid In such nanner
and at such times ~ may be required by the Board
OF Directors but not to exceed ten per cent OF the
sum subscribed every three months.
g. The company shall have power 10 borrow
money, purchase, acquire and hold property real.
personal and mixed In their corporate name or In
the name Of any other person in trust and for the
use OF the company, or In connection with any her
organised company, or individuals, and may creste
debts, issue bonds, notes other obligations, and
mortgage, Lease transfer, sell and convey eli the
property Of the company In the same manner and
10 the same extent AZ private individuals can do.
subject, however, 70 these articles.
z. The business Of this company shall be eon-
Quoted by Board of Directors, consisting OF ave
stockholders, which number may be increased to T.
which Beard Of Directors shaii be elected BY the
took holders their representatives annuaIly on
the LIST Monday in June Of each year, except
the hrst election, which shall be held on the first
Monday In August, 1859, and IL any election shall
not Dc held at the time herein designated. the
President may order an election to be held on the
hrst Monday Of any month thereafter by giving
tive weeks publie notice Of the time and place of
holding the same- All officers shall hold their
omces until their successors are duly elected and
qualified.
g. 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 APP
point Secretary and Treasurer Of the COMPANY
and also to employ all other agents. efisers and
Assistants requisite for the transaction and PROSE
cution of the business Of the company, aud Il x
their compensation, and do all ether Legitimate
business Oh the company not IN conflict with these
articles.
Q. majority of the board Of Directors shall
constitute quorum for the transaction of bass-
ness but no debts or liabilities shall DO incurred,
Board of Directors concur therein. They shall
also have power TO make all bY-laws and reguIa- /
fions they may deem necessary, which shall aot be
contrary 10 Law or these articles.
io. The President shall have the general super |
vision and direction of tbe business Ut the com pa
ny, and shall represent the company in the sign |
ing and execution of all contracts and other obi
cations, unless otherwise expressly provided and
directed by the Board, who may delegate thai pow
or to any Ut her person.
IL The treasurer shall. before entering upan /
the duties Of his Office, enter into such obligations
for the faithful discharge Of his duties a. the |
Board Of Directors may require, and shall submit I
quarterly . full report Of the condition of the
treasury.
IL. The Secretary shall keep Journal Of The |
by laws and other proceedings of tha Board, shall
take charge OF all papers Of the company and keep
the same properly on file In the Office OF the CON
pany, and at all times shaH submit all books and |
papers eeon sing 70 the company to the inspeesion
of any stockholder desiring to see the same
Is Zach stakeholder shali be entitisd TO one |
vote for each share OF capital stock he may own |
and mas vote IN person on by proxy In writing.
a. All dividends declared and paid by this co M. /
pany shall be declared and paid pro rata on the |
amount OF stock actually paid in, and from the |
net potts OF the business Of the company actually
realized.
10 These articles may be amended or modified |
by vote Of two.thirds Of the lders at apv
public meeting called expressly FOR that purpose
MN. THOMPSON, T. M. LOVE.
IA. hLGAANDEhs WM. Is. Nc4AyIC.