Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-11-28
ARTICLES OF INCORPORATION
OF THE
Water Power Company Of CloQuet. "

The undersigned hereby associate themselves
together for Incorporation under and pursuant
to the laws OF the state of Minnesota for manu-
featuring purposes and do adopt the following
Articles Of incorporation.''
ARTICLE I.
The name of this corporation shall he
wat er Power Company OF Cloquet.'' The gen
era nature of its business shall be to purchase.
own, lease and sell timber lands and other real
estate, to purchase, own, lease, improve and sell
water powers, dams, booms ard privileges, to
Dulld, buy, sell, lease, own, maintain and ope-
rate mills, ware houses and store houses, to
purchase, manufacture and sell logs and lumber
and all articles of merchandise that NAV be
manufactured therefrom, the cutting and trans
porting of logs and timber from the place of
growth to the place of manufacture,
and to conduct and carry ON q
general lumber, merchandise and fueI
business in the States of Minnesota and Wiscon.
sun, and elsewhere, and the principal place Of
transactlng said business shall be at Clouuet. in
the county of Carlton, and State Of Minnesota.
ARTICLE II.
The time of the commencement of said cor.
poration shall be the Fourth day of December
A. D., 1882, and the period of its continuance
shall be twenty years.
ARTICLE III.
The amount of capital stock of said CORPORA
ton shall be one hundred and ffty thousand
(l5O,OO0) dollars, but the same may be in
creased at any regular or special meeting of the
stockholders called for that purpose. up to an
amount not to exceed three hundred Thousand
100000 dollars.
The par value of all stock shan be paid in
when the stock is subscribed for
ARTICLE ".
The highest amount of Indebtedness or Eabil-
lty to which said corporation shall at any time
be subject is one hundred thousand {SlUO, 0OO)
dollars.
ARTICLE V.
The names and places of residence of the ner-
sons forming this association for INCORPORATION
as follows:
William W. McNair, Minneapolis. MINI.
James NJ. Paine, Minneapolis, MINI.
Mark Paine, Northern Pacific Junction. MINI.
D. H. McEwen, Cloquet, MINI.
Edgar W. Wilson, Minneapolis. MINI.
ARTICLEVI.
The names of the first Board OF Directors If
SAID corporation are William W. lIcNair. James
W. Wilson.
The government OF the said corporation and
the management of its affairs shall be vested
in a Board of FIVE Directors. who
shall be elected annually on the Grs,i
Tuesday Of December of every year for the
term OF one year and Until their successors arc
elected and qualified, the Board Of DIRECTORS at
their first meeting and thereafter 1t their first
meeting following each annual election of Di
rectors shall chose from ainon;; their number p
PRESIDENT, Secretary and Treasurer whose
term OF office shall be until the next annual cleo
ton thereafter and until their successors are
chosen and qualified. The Board of Directors
siiau also elect general manager who shall hold
ms office during one year or the pleasure of the
Boald of Directors. The Office of Secretary and
treasurer may be held 81, the same time bv one
and the same person. All ouch officers and any
agent whom the Board OF Directors may ap-
point shall perform snch duties ae the Board of
directors shall by the bylaws o. otherwise pre- !
scribe.
ARTICLE VII.
In all meetings of the stockholders |
OF sad company each share shall eatitle the J
holder thereof To- one Vote which may b. given |
by said stock holders in person or BY lawful |
proxy.
ARTICLE VIII.
The number or shares of the capital stock OF |
said corporation shall be three thousand $4,000, |
and the amount of each share shall be fifty dol
lars but ii case the capital stuck of said corpor-
otlon Is Increased then the number of shares |
shall be correspondingly increased.
In witness thereof we have hereunto set cur
hands and seals this sixteenth day Of November.
4. D. 1882.
W. ". McNAIR. [Seal.l
JAS. IL. PAINE. Seal !
Mh.,K ;-AINE iSp,, !
.. II. MCEWEN S7s: !
EDGAR v. WILSON. :.&l i
II the presence of
F. Is. BAILEY,
JOHN T. BYRNFs.