Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-05-02


The amount of capital stock of said CORPORA
ton shall be one hundred thousand dollars
(SlOO, 6OO), divided into two thousand shares of
nifty dollars each. to be paid in monthly INSTALL
ments of twenty-five cents per chare, at such
times and under such regulations as may be
prescribed by the bylaws, but said corporation
may go into operation and transact business
Whenever twenty-five thousand dollars of said
stock shall have been subscribed. But the
amount of said capital stock may be increased.
within the limits, and in the manner prescribed
by law.
FOURTH.
The highest amount of indebtedness or labiI-
lty which said corporation shall at any time in
cur is FIVE thousand dollars.
FIFTH.
The names and places of residence of the per-
sons forming the said corporation are as fol-
lows:
IF. A. Studdart, residence, st. Paul, Ramsey
county, Minnesota.
Joseph l. Beaumont residence st. Panl. Ram
sey county, Minnesota.
Bertram Scheffer, residence St. Paul, Ramsey
county. Minnesota.
William S. Moore, residence St. Panl, Ramsey
county. Minnesota.
Louis E. Hauser residence st. Paul. Ramsey
county, Minnesota.
Frederick ". Dohm, residence st. Paul: Ram
sey county, Minnesota
George w. Robertson. residence ST. Paul
Ramsey county, Minnesota.
Charles B. Stanley, residence st. Paul, Ram
sey county, Minnesota.
Henry Meyerding, residence ST. Paul, Ramsey
county, Minnesota.
Henry Jensen, residence st. Paul, Ramsey
county, Minnesota.
Frederick De Haas, residence st. Paul, Ram
sey county, Minnesota.
William Frederick Won Deyn, residence St.
Paul, Ramsey county, Minnesota.
Charles Pnsch, residence st. Paul, Ramsey
county, Minnesota.
John Mark, residence st. Paul Ramsey coun-
ty. Minnesota.
F. A. Cariveau, residence St. Paul, Ramsey
county, Minnesota.
SIXTH.
The officers of said corporation shall be a
president, vice president treasurer, secretary
attorney, and ten directors, all of whom shall
be stockholders. Fifteen directors shall be
elected by the stockholders by ballot, annually,
on the Friday next preceding the fourth Sat
urday in the month of May in each wear after
the year a. D. 1878, and shall each hold his of
flee for one year and until his successor shall be
elected and shall have qualified and accepted
his office. The said directors shall choose from
among themselves the president, vice president,
secretary, treasurer, and attorney, and shall
form board of directors for the transaction
anu ol tlle dualfS OIL BalQ CORPORA
ton, and shall have full power to adopt all
rules and regulations which may be necessary
In the discharge of their duties and for the
government of the board, not inconsistentwith
the articles of incorporation or the bylaws.
Until the said officers shall be elected, the fol-
lowing named persons shall, act the board of
directors: I. F. A. Studdart Joseph |. Beau
mont, William s. Moore, Bertram Scheffer,
Louis L. Hauser, Frederick W. Dohm, Charles 3.
Stanley George w. Robertson, Henry Never
ding, Henry Jensen, Frederick De Haas, +. A.
Cariveau, John Mark, William Frederick Won
Deyn, Charles +. Pusch
And until said election the following persons
shall be officers of said corporation, viz:
l. F. A. 6tuddart, President.
Joseph |. Beaumont Vice President.
Louis T.. Hauser, Secretary.
Bertram Scheffer, Treasurer.
William S. Moore, Attorney
The first regular election of directors shall be
on the Friday next preceding the fourth Satur-
day in May, A. ID. 1872 All vacancies in any
Office shall be filled by the directors at any
meeting thereof, regular or special.
SEVENTH.
The number and amount of shares in the
capital stock shall be two thousand, at fifty
dollars each. The stockholders of said corpor-
twenty-one years and upwards. Minors and
others may hold stock by guardians or trustees.
but shall not be allowed to vote. No person
shall become stakeholder who has not pre-
viously obligated himself to said association in
writing that he will punctually pay the month
ly dues, installments, or assessments on the
shares of stock fo- which he may subscribe, and
all fines, dues and interest on loans,
as he may become liable for. The
present board of directors may make
such regulations in regard to manner
and form of subscribing for stock, and for is
suing and transferring the same, as they shall
deem proper, and such regulations may be
come forfeited for neglect or refusal on the
part of the holder thereof to pay any install
ments, assessments, dues or fines, for which he
shall become liable; in such manner as the by
laws shall prescribe. Every stakeholder shall
be entitled to one vote only, irrespective of the
number of shares he may hold, and such vote
cannot be cast by proxy. Any member of said
corporation may be allowed to withdraw there
from, upon such time and in such manner as
may be prescribed by the bylaws.
EIGHTH
The funds accumulated by said society.
shall be loaned out to its mem bers in such sums,
upon such security, upon such time, and in
such manner as may be prescribed by the by
laws.
When, at any time within fifty years, each
and every member of this society who has not
received loan, shall receive for each and every
share of stock he may hold, fifty dollars, less
the amount he may then owe said society,
under its charter and bylaws, this society shall
close its affairs and become dissolved. The
Board of Directors shall then deliver to each
nortgagor who has complied with the con-
ditions of his mortgage a discharge in full
thereof. and all papers onnected Herewith.
TENTH.
An annual meeting of the stockholders shall
be held on the Friday next preceding the fourth
Saturday in May of each year, commencing A.
D. 1879, to elect Board OF Directors for the
ensuing year, and to transact any other bust
ness of the society; besides any other stated
meetings may be holden at such times and
places as the bylaws may prescribe.
But there shall be no special meetings. unless
the same are called by at least five Directors,
and notice thereof be previously given by the
Secretary in such manner as the bylaws may
direct.
AT any and all regular meetings, the said
stockholders shall have the power to pass by-
laws defining the duties of the officers of said
society, for the imposing of reasonable fines,
assessments and dues upon its members. regu-
latlng the subscription upon the issue and
transfer of stock, and management of the in
vestment of its funds loans to the members,
the general regulation of said business of the
said corporation as well as to pass all other by-
laws necessary to carry out the object of this
corporation.
I. F. A. STuDDART, IL. 81
WIN. s. MOORE. II. S.
LOUIS E.. HAUsER. Il. s.
JOSEPH I. BEAUMONT. IL. ST.
BERTRAM ScHEFFER. IL. ST.
FREDERICK w. DoHM. f. 81
HENRY JENSEN. Il. ST.
GEORGE w. RoBERTsos. +. 8.
HENRY HEYERDINa. II. 8,
F. A. CARIvxAU. r. al
FREDERICK DE HAAS. Il. 81
Gas. B. STANLEY. Il. S.