Ottumwa weekly courier. (Ottumwa, Wapello County, Iowa) 1872-1899, 1875-03-10
Articles Of Incorporation
OF THE
OttumWa Water-POWer Co.

VttumWa Water-POWer Co.
The Improvement Of Inc Water Power Of Tie Les
Moines River for manufacturing and other purpo-
sary buildings, water wheels, and line shafting
sell, buy and lease the same for the
Of manufacturing in the ownship ofCc
Iowa. we DO hereby enter into and adopt tho fol-
lowing articles Of Incorporation
ARTICLEI
&c. I. The name and style Of this corporation
S y, 20 The ottunwa Water Power Com.
.. sFo 2 The principal place for the transaction of
va a,.c o. ,ne corporation shall be at Ottun-
wa ""Peio county, and State Of Iowa.
ARTICLE H.
The business Of this corporation shal, he. 1st
to improve and make available the nn,yer az The
Des Moines Rivcr tor manufacturing and other
ut some point within Center Township, in The said
county, and race from said dam, through or
s wl,n rve sad 10 township to some point below
construcung, repairing, or operating their said
Works, 70 make, execute, and to deliver contract
other conveyances, charging or encumberinr their
property, including all and sngu their ffanchi-
sesi or any part or parts thereof, to construct,
ways, including water ways and siuices for carry
ing OF waste water from said premises to the
stream from which the same was taken, other
convenient place, TO let, lease. sell and convey
any portion of their water supply and any of the
buildings aforesaid, or re-purchase the same for
shall be agreed upon between the said corporation
and any other party, or parties, or corporations,
and TO maintain and operate such water way and
building, village town, or city with wafer.
ms corporation is hereby invested with the fol-
LOWING oa;g powers together with all other powers
herein enumerated, tO-wit
To have perpetual succession.
O. ~ ~ sue ana De sued by its corporate name.
o. 10 have common seal and to alter the same
l. 10 establish bylaws directly or through it,
directors, and to make rules and regulations nee
ment of its business 10 make contracts, acquire
anu o. transfer property. possessing the same power
n such respects as private individuals now enjoy.
be taken and received in payment for stock sub
scrlbed by any Stockholders at such prices and up
on such terms and conditions may be agreed mp
on WIN the directors, and said Directors may de-
corporation shall become payable, not inconsistent
with Section Article hereof
ARTICLE III.
Sec. l.. The capital stock of this corporation
shall be One Hundred Thousand Dollars tAlUO, 0o0l
which shall be divided into one thousand shares OF
one hundred $500 dollars each. he capital stock
Hundred Thousand ts55o, ooo5 dollars, and when-
ever there shall be Seventy-Five Thousand Dollars
81 ssoeh 81 this The
SEC. 2. After this corporation commences bust.
be called for hereinafter provided and aftcr the
principal work Of the corporation shall DO put
under contract the balance part Of the said stock
may be called for from time to time as the work
progresses in nstallments Of not exceeding ten per
cent. per month after notice by the Board of Di-
R5 .ys
notice Of said call
SEC. 8. In case Of any increase. Of the capital
stock thereof shall be entitled to such proportion
Of such increase stock he then owns Of the orig
inal stock of said corporation: should any share
.ncreassd stock or any portion thereof within (So
thirty days after notice that such increase Of stock
pose Of said increased stock not taken, In such
manner as they shall deem to be for the best inter-
est OF the corporation.
made by the Board of Directors the same, with.
sell lis soeR By sns 81
lS0) thirty days notice thereof BY posting up writ
ten notices in three ta public places in said coun-
OF the company OF Ottumwa, or forfeit to the COM
pany the stock and any and all assessments he may
have paid on the stock subscribed or taken by him
becoming holder thereof, shall &c liable for ali
further assessments, and entitled to oil the rights
the original subscriber thereof II the Board q
Directors shall elect not to sell or forfeit such stock
as aforesaid, or should said stock not sell when
may be enforced in any court having Jurisdiction
IN the name Of the company and against the said
deali Icing shareholder l..ie :,. ,.u. .s,,.
by assignment, but no such assignment shall Be
valid or binding upon the company until the said
transfer ts made upon the books of the company.
ARTICLE ".
SEC, l. This corporation shall commence on the
first day of March, A. D., 1875, and continue for
the period oftwenty (20) years.
ARTICLE v.
The officers of the corporation shall consist of
Board Of Directors live In number) elected an.
vice-President, who shall be elected annually
from and by said Board of Directors, and &Secre-
tary and Treasurer, who may be elected from said
hold their Offices during the pleasure Of said Board
sac Each Director shall be the owner IL HI, HI:
Capital Stock c q i CORPORATION. '~s o. 'n'
l ARTICLE VI.
SEC. !. The indebtedness or liabilities OF the
corporation shall not exceed at any one time Sixty
| six Thousand 1856, 0C0) Dollars.
ARTICLE VII.
The private property of the stakeholder shall be
exempt from the payment of the debts or liabili.
ties Of the corporation except to the amount of the
unpaid instruments on the stock owned by the
SEC. l.. The regular annual meeting ofthe share
holders for the election of Directors shall be held
ef
first election of Directors which shall take place
as soon as practicable after the organization and
shall be given by publication in some newspaper
published in Wapello County, Iowa, and also Of
each snr regular election thereafter.
Of sss mot I e Ss "a s9
in in provided, then any five t5) Stockholders may
| ing notice by publication heretofore provided
SEC. 8. Special meetings of the stockholders
may De called ut any time and for any PURPOSE by
nj IN phn1d
heretofore provided BY publication, said special
ARTIcLEIx
SEc.1. The Board of Directors a majority NJ
which shall constitute quorum to do business.
may elect Superintendent and such other officers
ana ,s employees, as may be deemed necessary for
the prompt, economical transaction of the bust.
ness, and shall fix the amount of bonds to be given
by the said officers. and approve the same and also
salaries Of officers to be paid by the corporation.
carry out al measures adopted by the stockholders
and may az al business usually done by the DI.
ectors, OF similar corporations at any regular or
called meeting =
Sc s;a ne ,i regular meeting Of the noard shall
the office Of the company; special meetings Of the
Board may be called by the President and Secre.
tas ~ Or any q Directors. ,.
avs consistent with these articles, and the laws
Of the State governing the business OF such corpor
SEC 4. At all elections and meetings of the
stockholders each stakeholder shall be entitled to
one vote for each share Of stock Of said corpora
tion owned by such stakeholder, and may cast
such vote IN person or by proxy, provided such
proxy is held by stockholders OF this corporation
ARTICLE x.
All the proceedings of the Board OF Directors In
order to bind the corporation must be recorded In
book to be kept by them, viii h shall ut all times
be open to public inspection. Every contract made
BY them shall be In writing and under the seal Of
the corporation, and be signed by the President,
and colntersigned by the Secretary.
ARTICLE x1.
The Board Of Directors may cause books to be
opened for the subscription of stock at such times
and places as they may deem advisable.
ARTICLE XII.
SEC. I. No sale or transfer Of the franchises Of
this company ehall ever be made except the same
be done by majority of the votes cast by the
stockholders present ut q meeting called for that
purpose, Of which thirty o. days notice shall Be
given by publication In some newspaper publish.
cd In Wapello County. State of Iowa, provided
nothing herein shall abridge the rights and powers
Of this company as provided IN Articles and OF
these Articles Of Incorporation
SEC: 2. These articles may be amended only At
regular meeting or special meeting called for that
purpose, and only when q majohty Of the stock
present vote In favor Of such amendments, provi-
ded, that NO less than two weeks notice Of such
amendment specifying It's exact character be given
Immediately prior TO such meetings in two news.
naAa.