The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1884-06-12
LEGAL ADVERTISEMENTS.

We We: the undersigned. do hereby associate our
under the provisions OF Title Two o. of Chnpte err
Ihirty-four Ci1) OF the General Statutes OF the
state ct Minnesota OF 1878 and tie amendments
thereto, and to that end Go hereby adopt the
following Articles of Incorporation:
ARTICLE I.-NAHE.
Tie name of this Incorporation shall be the
"Minncso:a Loan and IuHcstn,eut Company
ARTICLE I.-PURpOsE OF GEGASiZATIoN
!ic object and tic general ram, Of The hsi:css
OF said corporation shall be the negotiating. OF
loans OH Real Estate security which loans tie
sad corporation may or may not give its guar
Aniec OF collcc1ipn; the Investment OF money in
E";,l Estate o" other securities. for Itself or any
i'cr$cn Or persons. company Or corporation; to
own. purchase aud sell such real and rc,;,,nai
benefit, or necessary for the collccini, o: Sc
c" itE of any debt OF: t';tS, or c::'in c: l;:i,lS
ing ~. or i'll which said corporal Jon may have
III interest; to issue l'cbentireS and co other
bushes; lawful !c: such corporation.
ARTICLE iiI.-FLAcc OF BUSINESS.
The pin. iIal place of irans::cln: tie b;:si-
ness Of said corporation shall be Norl]iin:-tc,,
Mobiles Co.. Mimi.
ARTICLE LIBERATION.
The commencement of til; corporation Shall
DC June 10Th, 1881. and it SHALL continue thirty
years.
ARTICLE: N-CArt-iL STocH.
The a&,nunt Of tho capital stock Of said co-no-
ration shall be ONE HUNDRED THOUSAND
DOdtAES, !:'voMel fifty per cc:.1: Of which
snail be paid in at the time CT subscription. aud
the remainder thereof upon The call Of the Beard
OF Directors; said capita! stock may be increased
from tinlc to time TO ONE MILLION DOLLARS
ny the Board OF Directors When aiilo.i ed so t.
30 Dy vote OK thTee-four;hS OF the stock.
ARTICLE VI.-iNDEErEDNEss
The highest amount o: Indebtedness Or liatil-
ity to which this corporation shall Il: any lime lie
subject Shall be lWO-illirdS of Tie capital stock.
ARTICLE ELECTROMAGNETIC.
'4,op I,,I,no
sons forming the assoc,aton for this lnco:pnr,-
ton arc as tui!ows:
GEO RAP p; PAXTON AIQ, Wortl,inston, MINI.
DANIEL SHELL, do
MONS GRiNAGER, d"
$E%: g S,I MSSKE, !"
ARTICLE VIlI.--DmEcrons
The names of the first Board of Directors of
this corporation are
Gee. D. Dayton. J:r: Moulton. Daniel Shell.
c. II. Smith, Mons linagcr Geo. W. Wilson,
and Geo O. Moore, who shah hold their Offices
until the annual meeting in June. 1885.
ARTICLE lN.-GovE.NMENr.
The government of said corporation and the
Board of Directors toconsist of seven in number
who shall be elected by ballot by the Stock
first Monday in June OF each year and hold their
Offices until their successors are duly elected
A 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.-OFFICERs.
The officers of said corporation shall be a
President, Z Vice President, Secretary and
such other officers and clerks as shall from time
to time be appointed by the Board of Directors.
all of whom except the President and Vice Pres
idcnt shall hold their Offices during tho 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 XI.-SHAREs