Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-11-29

ARTICLE 1.
The name of this corporation shall be
swat er Power Company of Cloquet." The gen.
eral 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 and privileges, to
build, 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 may 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 a
general lumber, merchandise and fuel
business in the States of Minnesota and WiscOn.
sin, and elsewhere, and the principal place OF
transacting said business shall be at Cloquet, 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 fifty thousand
(l50,OO0) dollars, but the same NAV be in
creased at any regular or special meeting of thu
stockholders called for that purpose, up to ar
amount lot to exceed three hundred thousand
OD,C0O) dollars.
The par value of all stock shall be laid il
when the stock is subscribed for,
ARTICLE ~.
The highest amount of indebtedness or liabil
ity 10 which said corporation shall at any tim,
be subject is one hundred thousand (SIUO, eco
dollars.
ARTICLE V.
The names and places of residence of the per
sons forming this association for incorpoy atio1
are as follows:
William W. McNair, Minneapolis, MINI.
Jam NJ. Paine, Minneapolis, MINI.
Mark Paine, Northern Pacific Junction, Mimi
D. II. McEwen, Cioquet, Mimi
Edgar W. Wilson, Minneapolis, MINI.
ARTICLE VI.
Tho names of the first Board of Directors O
said corporation are William ". McNair. james
nj. Paine, Mark Paine, d. IL. nj Even and Edya
W. Wilson.
The government of the said corporation ant
the management of its affairs shall be yestet
in Board Of five Directo. s. wht
shall beg elected annually on the frs
Tuesday of December of every year for tn,
term OF one year and until their successors are
elected and qualified, the Board Of Directors al
their first meeting and thereafter at their frs,
meeting following each annual election of Di
rectors shall chose from among their number &
President, d Secretary and a. Treasurer whose
term of Office shall be until the next annual cleo
ton thereafter and until their successors are
chosen ard qualified. The Board OF Director.
shall also elect general manager who shall hold
his office during one year OF the pleasure of the
Boa1d of Directors. The office of Secretary and
Treasurer may be held at the same time by one
II
agent whom the Board of Directors may ap
point shall perform such duties as the Board OF
Directors shall by the bylaws or otherwise pre-
scribe.
ARTICLE VII.
In all meetings of the stockholders
of said company each share shall entitle the
holder thereof to one vote which may be given
by said stock holders in person or by lawful
proxy.
ARTICLE VIII.
The number or shares of the capital stock of
SAID corporation snail be three thousand 5000
and the amount of each share shall be fifty dol
lars but in case the capital stock of said corpor-
otion is increased then the number of shares
shall be CORRESPONDENCE increased.
In witness thereof we have hereuntO set our
hands and seals this sixteenth day of November,
A. D. 1852.
W. w. McNAIR; [Seal.1
Jas. NJ. PA1NE, Seal.
MARK PAINE, fiscal.
d. H. MCEWEN, [Seal.
EDGAR W. WILSON. fSeal.
In the presenceof
+. B. BAILEY,
JOHN 7. BYRNEs,
r. s. HAWKINS,
C.. 0. LovEJOY.
STATE OF MINNESOTA,
COUNTY OF HENNEPIN, 3D.
Be 1t known that this 10Th day Of Novem-
Der, A. D. 1882, before me personally came
William W. McNair, James II. Paine and Edya.
w. Wilson, all to me personally well known tc
be the identical persons who are named in and
who executed the foregoing instrument OF writ
ing and acknowledged that they executed the
same freely and voluntarily for the uses and
purposes therein expressed.
SEAL. FRANCIS B. BAILEY,
Notary Public, Hennepn County, Minnesota
STATE STATE, OF OF M MINNESOTA II INES S..
Be 1t known that on this Goth day of Novem
Der, A. d. 1882, before me personally came Mari
Paine and ID. H. Given, to me personally vel
known to be the identical persons who are named
in and who executed the foregoing instrument O.
writing, and acknowledged that they executed
the same freely and voluntarily for the uses anC
purposes therein expressed.