The Toledo chronicle. [volume] (Toledo, Tama County, Iowa) 1873-1924, 1873-06-19
Notice Of Incorporation.

Struble, L. A. Morse. j. q. Clark, c. L. \.
Barker, Geo. ], Bailey, Jacob Ieiser, Jr.,
Benjamin Stone a. Chapman, knight Dex-
ter, j. r.. McClaskey, John Nauerih, Furry
Newcomer, VIM. Reickhoif, Andy Maiden,
Warren Hartman, T. J. Sweat, John Sweat,
| Winfield j. Johnston, f. L. Stickney, u. II.
Goodrich, John Youngman, NJ. keefer, Da-
vid Stoner, Wesley Johnston, u. Arb, Dem
ton Camery, Mrs. c. NJ. Blinn, J. j. Dowd,
John G. Safely, u. d. Appellate s. G. Me-
KEENAN,, NJ. ]. Powers, Emanuel Mericle,
Mrs. Nary A. Morse, G. L. Maxwell, l..
Carmichael, ]. D. Sweat, A. 4. DIN, q. j..
Stevens, Mrs. Uret,a Kidner, Chas. NJ, Hen
dry, d. B. Hendry, X. 8. Clark, g. ".
Sweat. Henry Galley, J, 8. Moore, Eliza NJ.
Nelson, J. r. Lemberger, c. w. Conant, Ln-
| cy E. Graham, Edward Ruggles, Chas. tray
| Jr., A. n. Poyneer, j. G. Cronk aud Thomas
/ Barlow, have associated themselves as an
| in ,orporated company, pursuant to the pro-
visions of chapter 81, of the Kevislson oil
| 1860, and the laws of Iowa. amendatory
| thereof, for the purpose OF transsctiuga
/ General Banking Business. and the ordina-
nv business of Savings Institution, re-
ceiying deposits Of money and allowing in
terest thereon, aud investing such deposits
| by loans on real property or personal Sc
| CURLY, receiving interest therefor, or in
such manner as q Board Of Directors may
| from time 10 time direct, TO accept and ex-
| ecuie all such trusts as may be committed
| to it by any Court of Record, Corporation,
/ COMPANY, or private indivi luals, and to is
| sue certificates of deposit, or other evidens
ces Of trust or credit, with OF without inter-
est. payable on demand, or on time, and to
| do general banking, exchange and bro
| kerage business. and own property. real
| and personal, all in such manner and form
| as he by laws. rules and regulations Of
| said Corporation, shall direct and in con-
| formiy with the laws Of the State Of Iowa,
and have agreed to and hereby establish the
| following Articles of lncoi poration
ART l. This association shall be known
and designated as - The Toledo Savings
| Bank
| ART. II. Tie amount Of capital stock of
| said Corporation shall be One Hundred
Thousand Dollars, divided into shares Of
| One Hundred Dollars each, and not less
| than len per cent. Of the amount sn5scri b.
ed 'or, shall be paid in on OF before the first
day of May, A. D., 1873, and n Board Of
Directors shall have authority ther eafter to
cal upon stockholders for further install
ments from time TO time Ifopiasd that no
other lnstallment can be called for before
the first day of November, A. ID, 1873, and
that no iustallment can ever be called for
at on time greater than ten per cent: nor
shall any two instal.ments ever be called
for within less than ninety days OF each
other, and then only upon thirty days no.
lice and propided, .fwtlcr, that not more
than fifteen per cent. in addition TO the first
ins tallnent of ten per cent. shall ever he
\ 4 IL nf tl..R ~,
of Directors, losses sustained by The Insti
tuition shall require it. Notice of any in
stallment called for shall be posted in the
place of business Of said Corporation, for
not less than thirty days Immediately pre-
| ceding he day Of payment of such INSTALL
| ment, and published in some paper in Tole
do, for not less than two weeks preceding
the day OF such payment. lfsny stockhold-
err shall tail to pay any nsialment mltn
the same shall be ordered herein pro-
vided the Board of Directors may sell the
stock held by such delinquent siockholder,
at pablo auction, giving ten days previous
notice thereof, in any newspaper published
| -. -. "a II uolola, ~ sett 80 y
the highest bidder, unless sooner paid From
the proceeds of such sale shall be deducted
the necessary expenses attending the same,
and such Delinquent. stakeholder may be
proceeded against by suit Mt law Tor any
balance due said institution upon the in
stallment thus ordered and upon failure
TO make the first payment VIXEN due the
Bead of Directors may, ut their option,
cancel such subscription .r collect the same
by legal process
Arr. Ill. This Corporation shal CON-
mence business on the first day of May, A.
d. 1873, and terminate on the first day Of
| May. A. D., 1898, and may be renewed by
vote Of the stockholders holding three-tourths
of the Stock in S. id corporation.
Arr. ~. The affairs Of the Corporation
shall be conducted by Board Of Directors,
consisting of such number of stock no ldeIs
as may be ii xed by the hy>laws, save, how
ever, that the Board of Directors first elect
ed sha II consist of fifteen members. Said
Board shall elect one Of their members
President, and one yice-Presidcnt, and
shall have power to appoint Cashier and
such further officers or assistants from their
own number, or otherwise, as they may
deem necessary in carrying on the business
of The Corporation, and at pleasure remove
any such officers or employees, ard fix or
change the salaries or allowances Of any OF
them. A majority of the Board Of Direct
ors shall constitute quorum.
Arr. V. At the elections, and in decil-
ing all questions at meeting Of stock-hold-
ers, each stakeholder shall be entitled TO
one vote on each share Of stock held by
him. Stockholders my vote by proxy,
duly authorized in writing, but no stock
holder whose liability is past due, and nn-
paid, shall be allowed to vote. All Direct
ors shall be elected by ballot.
ART VI The Stock Of this Corporation
-. 4 - r,,1a
and regulations as the BY Laws may pro-
vide, subject, however, to the laws Of the
| State.
! ART. VII. The capitsl stock of this In
siitulion may be increased to the sum OF
Two Hundred Thousand Dollars by vote OF
stockholders holding two-.hirds of the
Stock AMI the original share holders, OF
their assigns, shall have the right of SUBJ
scribing thereto, in proport ion to the
amount of their original stock.
ART. VIII. The highest Indebtedness Of
the Corporation at any one time shall moi
exceed one half the capital stock, but liza
bility Of the Corporation for deposits made
by the customers of the bank shall. not be
estimated as sue b Indebtedness.
| Arr. TX. The private property of stock
holders shall be exempt from the debts OF
liabilities Of said Corporation, except te
7he amount of any unpaid balances. or in.
stallments on their stock respectively.
! ART. x. This Corporation may purchase
and bold ouch real and perst nal estate as
the Board of Directors may deem conven,
lent for the transaction CT its business, and
may have and hold any real or persona
estate as security, or on mortgage, or iI
pledge, or by deed of trust, to secure tht
| payment of loans and debts due, or to be-
come due TO said corporation, and may pur
chase real or personal estate at any SALE
held by virtue Of any loan or debt made in
favor Of said Corporation, and may receive