, 1865-08-18
Articles of Association of the Farmers Mil
ling Company, of Walla Walla.
WALLA WAIIA, W. T., July 29th, 1867

Articles of Association of the Farmers Mil
ling Company, of Walla Walla.
WALLA WAILA, W. T., July 29th, 1865.
We, the undersigned for the purpose of form
ing an association to be called the ''Farmers
Milling Company of Walla Walla, agree to pay
t1e respective sums affixed to our names, in the
manner and at the times to behereafter provided,
and further agree to abide. By all the regula-
tions hereinafter provided for the organization
and management of the affairs ofrthis eassocia-
ton
| lst. The capital stock Of the association
shall be twenty thousand $50, OOO) dollars in
| le,Nn, to be divided into four hundred (40O)'
sdales Of Fifty dollars lS50) each.
3D. No one shall be entitled to be member
of this association unless he shall be the owner
of at least one share and not moro than twenty
shares aud has subscribed to these articles of
association.
| 3d. Books for subscription shall be opened
on the first day of August and remain open un-
| til the capital stock is all subscribed.
4th The stockholders of the association
shall meet On the fourteenth day of August,
| 1865 for a permanent organization.
5th. Two weeks notice shall be given, by
publication in the Walla Walla Statesman, to
| stockholders of the time that the installments
upon the stock subscribed shall fall due prior to
such time.
9Th. Any stockhoIder failing to pay any in
stallment due from him upon stock so sub
scribed shall forfeit the same to the association
unless paid within fifteen days thereafter;
whereupon the proper officers of the association
shall have such shares of stock so forfeited,
sold at public auction for the benefit of the asso
ciation after fifteen days notice being given by
publication in the Walla Walla Statesman.
7th Each stockholder shall be entitled to
one vote for each share of stock, so owned by
| him. in the election of officers or for any pur-
/ pose whatever.
8th. The stockholders shall annually, on the
second Monday of August, elect a board of direc-
tors, consisting of seven (7) stockholders, whose
term of of office shall be one year, five ofwhom
| shall constitute quorum; but majority of the
whole of the directors shall be necessary for the
transaction of business.
9th The said board of directors shall have
the exclusive control of the selection of site
for said MILL (its location to be near the City
of Walla Wala as the securing of proper site
| will admit of of contracting for and building
the same, of the management of the same when
built, and all other matters pertaining to the
business operations of the association.
10th. The board of directors shall hold reg
ular meetings for the transaction of all necessa-
ry business of the association every three
mouths, and shall at such regular meetings
make Qp cOrrecb statement OF the aNalrS OF Jne
association and cause the same to be immedi-
ately published for the benefit of the stockhold-
ers.
1lth. The stockholders shall elect from
amongst their nRmber a Superintendent who
shall be Treasurer of the association, whose
term of Office shall be one year and who shall
superintend and manage the building Of, and
the business operations of the Mill, and take
charge of all funds belonging to the association,
and be required to give such amount of bonds as
the board Of directors may require and approve
of. The salary of said Superintendent and
Treasurer shall be fixed by the board of direc-
tors
18th. The Superintendent ana Treasurer shall
keep correct record and account Of the opera
tions of the association, in a business-like man
ner, and make report of the same to the board
of directors at their regular meetings.
18th. The Superintendent and Treasurer
tions under his control, and make settlements
with the board Of directors at every regular
meeting of the same.
18th. No moneys shall be paid out by the
Superintendent and Treasurer except under the
direction of the board of directors.
18th. The owner or owners of fifty shares of
the stock can at any time call meeting of the
stockholders and the owners oftwo-thirds of the
capital stock can at any time change the board
of directors.
l7th. The stockholders shall have power to
alter or amend the rules and regulations of the
association at any annual meeting.