The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1884-07-03
ARTICLES
OF
INCORPORATION
s.t. OF THE
NGINNJE90TA
LOAN ANDINVESTMENT
N.Y..

we tne undersigned, do hereby associate our
selves together for the purpose Of Incorporation
TEer ne proysions Of Title Two o Of Chapter
t,t.l SIMe OF Mlnnesota OF 1873 and the amendments
thereto. and to that end do hereby adopt the
following Articles OF Interpretations:
ARTICLE I.-NAME.
The name Of this Incorporation shall be the
Minnesota Loan and Investment Company"
ARTICLE H.-PURPosE OF ORGANIZATION
The object and the general nature of the business
OF said corporation shall be the negotiating of
loans ON Real Estate security, on which loans the
antee Uf collection; the Investment of money in
Real Estate or other securities, for itself or any
person or persons; company Or corporation; to
property as shall be necessary for its own use. or
dement,. or necessary for the collection or ne-
caity M M any debt or debts, or slain or claii~>.
an interest; to issue Debcntl,rcS and do other
business lawful for such corporation.
ARTICLE III-PLAcE OF BUSINESS
The principal place Of transactins the bust
ness OF said corporation shall be Worthington,
Mobiles Co.. Mimi.
ARTICLE lV.-DURATIoN.
The commencement of this corporation shall
be June 10th, 1884, and it shall cOnitnuc thirty
years.
ARTICLE V.-CArITAL STOCK.
The ao%n Hno' M Of the ePts! Steek Of said cor2o
DOLLARS, (SlOoNO) fifty per cent of which
shall be paid i'll at the time Of subscription. and
the remainder thereof upon the call OF the Board
e time taP a Saif s 9f p6G%KS
ny the Board of Directors when authorized 50 to
40 by il vote OF tllrec-fourths of the stock.
ARTICLE VI.-INDE,:rEDSEss
The highest amount Of Indebtedness or liabil-
lty to which this corporation shall at any time be
SuDJcct shall DC tWO-thllds Of the capital stock.
ARTICLE EII.-INCoRroEAToRs
The names and places of residence of the pcr-
sons forming the ASSOCIATION for this Inc0rpora-
GEO tf ~ j. 4 DAYT0N, iHiTcS wo-,hinytop Minu
J. p. MOULTON, do
| DANIEL SHELL, do
Mons GkiSAGEk, d" d"
6! GE%; e. 8; SMift9. hH2kE' 4" 4"
ARTICLE VIII.--DrRECTORs.
The names of the first Board of Directors of
Geo. d. Dayton, j. P. Moulton, Daniel Shell.
c. II: Smith, Mons Grinager, Geo. W. Wilson.
| and Geo. .. Moore. who shall hold their offices
until the annual meeting in June, 1885.
ARTICLE IX.-CovERNMENr
The government Of said corporation and the
management OF its affairs. shall be vested in a
Board OF Directors to consist of seven in number.
who shall be elected by ballot by The Stock
holders annually on the first Tuesday after the
first Monday il June of each year and hold their
ohlces until their successors are duly elected
majority shall constitute IL quorum The
Board shall have power to fill all vacancies Oc-
curing in the same until the following annual
meeting.
ARTICLE X.-OFFnCERS
The officers Of said corporation shall be a
President, i Vice President, Secretary and
suc? other officers and clerks as shall FROM time
| to- time be appointed by the Board If Directors
I'LL Of whom except the President and Vice Pres
ldent shall hold their Offices during the pleasure
Of the Board of Directors. The President ana
! Vice President shall be elected annually by the
| Board OF Directors from their own number
| ARTICLE NI.-SrAREs.
| The number and amount of the shares in the
| capital stock Of said association shall be One
Thousand shares Of One Hundred Dollars each
| In witness whereof We have lereunto sub
Scribed our names and affixed our seals this 10th
day Of June, a. d. 1851
GEO. u. DAYTON, TSEAI1
I J. p. MOULTON, fSEAIi
DANIEL SHELL, tsEAI,i
G.. Fl. SMITH, fSEAI1
| MONS Gk! \ AGER, SEAI"J
GEO. w. WILSON, fSEAI.1
| =. W. SMITH, SEAL
GEO. y. MOORE, fsEALt
In the presence of l.. NJ. Lange and /. p.
| Durfcc