The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1884-06-26
ARTICLES
INCORPORATION
OF THE
N0NdEGoTA
LOAN ADVERTISEMENT
CoNGFAN~

We. the undersigned, do hereby associate our
serves !ogether lor The purpose of Incorporation
%r1sr TIE PROVISIONS o. Of Title Two @ Of Chapter
thereto, and to that end do hereby adopt the
lollo"lng Articles OF Interpretations:
ARTICLE I.-NAME.
The name Of this Incorporation shall be the
Minnesota Loan and Investment Company
ARTICLE II.-PURrosE 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 Of collection; the investment of money in
Real Estate or other securities for itself or any
person per, or persons company or corporation; to
property as shall be necessary for its own use or
benefit. or necessary for the collection or Sc
curity OF any debt or debts, claim or claims,
owing to. or in which said corporation may have
All interest; TO issue Debentures and 90 other
business lawful for such corporation.
ARTICLE III.-PLACE OF BUSINESS.
The principal place of transactmg the bust
ness S OF SAID CORPORATION shall be Worthington,
Mobiles Co., Mimi.
ARTICLE N.-DURAr1oN.
The commencement Of this corporation shall
be juno 10th, 1884, and it shall continue thirty
years.
ARTICLE V.-CAPITAL STOCK.
ra ns sns be Of 6 9e sSSk Of faia
shall be paid in at the time Of subscription, and
the remainder thereof upon the call Of the Board
from time to time to ONE MILLION DOLLARS
by the Board of Directors when authorized SO to
DO by vote OF three-fOurths OF the stock.
ARTICLE VI.-INDEETEDNEss.
The highest amount of Indebtedness or iabil-
lty to which this corporation shall at any time De
subject shall be two-thirds OF the capital stock
ARTICLE VIl.-INCoRPoRAToRs.
The names and places of residence of the per-
sons forming the ASSOCIATION for this Incorpora-
GEO pa p; DA .AIQ, Worthingtton, MINI.
DANIEL SHELL, do
Z. ii. SMITH. do
MONS GRlNAGER, do
GEO; Q: MOORE, do
ARTICLE VIII.--DlREcroRs
The names Of the first Board Of Directors of
this corporation are
Geo; D; Dayton, Up; Moulton. Daniel Shell,
until the annual meeting in June, 1885.
ARTICLE lN.-GOvERNAENT.
The government Of said corporation and the
management OF its affairs. shall be vested in a
who shall be elected by ballot by the Shock
holders annually. on the first Tuesday after the
hsst Monday IN June OF each year and hold their
A majority shall constitute a quorum The
Board shall have power to fill all vacancies Oc-
curing i'll the same until the following annual
meeting
ARTICLE X.-OFF1CERs
The officers of said corporation shall be a
President, Il Vice President, a Secretary and
such other officers and clerks us shall FROM time
to time be appointed by the Board of Directors.
all OF whom except the President and Vice Pres
ident shall hold their offices during the pleasure
Of the Board OF Directors. The President ana
wee Pre- Sident shall be elected annually by the
Board Of Directors from their own number.
ARTICLE NI.-SHaREs
The number and amount of the shares in the
capital stock OF said a>sociat ion shall be One
Thousand Shares o.: One Hundred Dollars each
In witness whereof We have Eereunto sub
scrbed our names and affixed our seals thi; 10th
day OF June. a. ID. 1854.
GEO. D. DAYTON IsEAI1
j. Z. MOt'lTON TsEHL1
DANIEL SHELL, SEAL
I: ~ SMITH, SEAL.
MONS GEINAGER SEAL
GEO. ". WILSON, ESEAL.1
{. W. SMITH, fsEAL.1
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