The Toledo chronicle. [volume] (Toledo, Tama County, Iowa) 1873-1924, 1873-09-11


BoLIvER SKlDwALLux.
Articles Of Incorporation
Or the Pasre.s' Jsins stock Company
81 Craer, Tana County. aa~s.
ARTICLE lst. Be it known that Robert Nc
Cornack, 8. N. West. G. b. Lawson, Thorn.
SON Weir. E. D. Rice and Jares Morrison,
with their associates and SUCCESSORS, and
al such individuals Is shall hereafter be-
,me stock holders in this company, hereby
created. shall become body corporate and
politio, under the meme and style of the
Patrons Joint Stock Company Of Traer,
Tama County, Iowa, Is authorised in Chap
ter SO, revision Of 1850 Of the laws Of Iowa,
and acts amendatory thereto.
ART. I'd, The general and principal bus,
mess shall be the buying, selling, storing
and chipping grain. hogs, cattle and all
kinds Of farm produce.
Art. Sd. The place Of business shall be
Traer, TAm6 County, Iowa. No person
shall become member Of this corporation
unless he is . farmer. and shall subscriber
to one or more shares OF the capital stock
tuerlOI. 5tOCkeuUlu0TS may uo ACSluVAIo VI
Tama and adjoining counties.
ART. 4th. The capital stock OF this CON-
pany shalt DO twenty thousand dollars, in
shares of ten dollars each, 10 be paid one
Quarter upon the call Of the Directors, one
quarter UPON the completion Of building
| and the balance in two installmenss Of one
quarter each ct the call of the Directors Of
| the Company. No stakeholder shall hold
sLn> nku aho ~ Aid nj fol
| stock. This company may commence bus
| mess when Eve thousand dollars Of the cap
| ital stock shalt have been subscribed. and
taken, and rs per cent. thereof paid in
| The capital stock may be increased to fifty
thousand dollars ct any regular meeting Of
| said stock holders .lled for that purpose
| Art. 9Th. Upon the subscription u TWEEN
| ty.five hundred dollars OF the capital stock
| the stock holders shall at once proceed e
| elect, and shall thereafter on the second
Tuesday OF July Of each year elect seven
| of their number as Directors Of this com.
pany, ct which said election, and oil syhee
quent elections, each shareholder shall be
| entitled to one vote. Sale Directors shall
remain in Office till their successors are
elected
ARr. 9th. The Directors shall at once
o: oceed to elect from their number q Presi
dent, Vice President. Secretary and Treas
| urer, who shall hold their Office for on,
year, and until their successors shall be
elected
Aar, It'll. The President aud Secretary
shall be the executive officers Of the com
pany, subject to the control Of the Board oil
Directors The Vice-Presidens shall per.
form the duties of the President in his nb
- H.: h:t;.. Th" S~.-.."~.. Oh. i,
be the Recording, Auditing and Accounting
officer Of the company, to be the Gus todian
Of all books, papers and vouchers, all III
which books. papers, etc., shall 1t all times
Of business hours be open to the inspection
Of the stockholders Of the company.
ART. 9Th. The Board Of Directors shall
| have the power to employ a suitable person
| or persons t carry on and manage sny
part Of the business of the company, at a
COMPENSATION 10 be determined BY said
Board. Said person or persons TO be oil.
ways under the control and direction Of
said Directors, who may, If deemed eA pedi-
| ent, require such person or persons to give
| bonds u this COMPANY conditional for =
faithful discharge Of their duties Mt such
sums IS said Directors may see ft. Said
Directors having the power to discharge, at
any time, any such person o. persons en-
ployed, and 10 employ others in their stead.
ARr. 9Th. Said Directors shall os soon
after being elected as may BE-, proceed TO
adop bylaws for the management and di :,
rection Of this company, and Of themselves
not Inconsistent nor repugrant to these
articles, which said bylaws may be amend
Cd or altered At any meeting of said Direct,
ors BY majority thereof.
ART. 10th. The regular meetings of the
tock-holders OF this company srall be on
the second Tuesday Of January and second
Tuesday Of July Of each year, at which
meetings these articles may be amended or
changed by o two>thirds vote Of the stocks
holders present at such meeting. The reg.
ulsr meeting Of the Directors shall be on
said days, and 1t such other times % they
may provide for by bylaws.
AR. 18th The existence Of this corpora.
ton shall! commence Saturday, tho 10Th
day of July, 1873. and continue for the
term Of ten years, unless sooner dissolved.
Such . dissolution shall be by vote of
majority Of thu sock -ho lders Of said com.
Pany, ut regular meeting or 1t special
meeting called for that purpose. Previous
notice Of such intention 10 dissolve 10 be
give in each case BY publication in soae
newspaper printed in Tana County, Iowa,
q least twenty days before said meeting.
AR. 18th. The indebts dness of this com.
Psoy shall in no Case excced scventy.fve
per cent. Of the capitsl stock subscribed.
AR 18th. Tho private property of the
stockholders Of this company. other than
their stock, shall not be held liable for the
debts Of the company.
Art. l4th. The company may build, pur>
chase and receive, hold, lease and transfer
or exchange any building or elevators that
may DO deemed desirable 70. the transac.
ton Of its business, with sufficient real e..
tate TO answer the purpose thereof. The
conveyances and lenses Of real estate shall
Be made and signed by the President and
Secretary.
Art. 18th. That the Directors Of this
company shall TO paid the sum Of Two dol
lars for each day spent in the compsny's
service, and that the Secretary shall re-
ceive in addition to the above sum one dol.
lar and fifty cents per day.
ARr. 10th. That it be the duty Of the Di.
rSctors to manage the business Of the com.
psny p near - practicable, 70 pay . divi-
dsnd Of ten per cent. on subscribed stock
[Signed,1
JAxrs Moarsox.
RoBEsr MCCORMACK,
s. N. WEsr.
E. D. RICE,
0EoRos 3. LAWSON.
THOMSON Wsia.
STATE 4.n, CT esv. .o9swA'}..
Be Il rememhsred that ON the "a day Of
August, 1873, before the undsrstgued. War,
ron Rogers, Justice Of the Peace IN and