St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-04-15

Inc government of this association and the
Board of fifteen Q5) Directors. each one of whom
shall be and the same shall be elected
annually by the stockholders at their annual meet
ing on the first Tuesday after the third Nondev In
each year after the year 1885. -
at their first meeting after an annual election
the Board OF Directors shall elect a President.
Vice President, Treasurer, Secretary and Attor.
hey from thelr own number, and the term of Office
of each shall be one year or until his ia
elected and qualified
Vacancies may be filed by the appointment of a
majority OF the Directors at any regular meeting
The Board of Directors shall have full mower "a
transact and manage the affairs of said cornora
ton, to pass bylaws, defining the duties of tbe
ofhcers OF said corporation, imposing reasonable
lines, assessments and dues upon its members
regulating the subscription issue and transfer of
stock and the management and investment of its
funds, and generally to adopt all measures neces
sary 20 carry out the objects of this corporation
not inconsistent with the articles Of incorpora-
ton.
Until said officers shall be elected, the follow
ing named persons shall act as the Board of Di.
rectors to-Wit: Henry Orlemann, Mark D. Flower
A. w. Schwabe, r. d. Czeikowitz Peter Thauwald
j. c. Nolan, Patrick O'Halloran, p NJ Kerst
August Hammer o. E. Holman, Il. f. Krahmer
William F. Bickel, w. A. McManigal, A. Nc.
And until said election, the following persons
shall be the officers of said corporation: A. w.
Schwabe, president; Henry Orlemann vice pres-
dent; z. NJ Kerst, treasurer; William T. BickeI
secretary; o. K. Holman attorney
EIGHTH.
The stockholders of said corporation shall con.
sist of persons of twentyone years of age and up
wards. Minors and others may hold stock nv
guardian or trustee, but shall not be allowed to
vote. No person shall become stakeholder who
has not previously obligated himself in writ.
ing to punctually pay the monthly dues
instalments or assessments on the shares Of
stock for which he may subscribe, and all fines
dues, premiums and interest on loans as he NAV
become liable for them, and to comply with the
Arfsn 1n Of CIR
ISOLATION. Said stock may become forfeited for
neglect or refusal on the part of the holder
thereof to pay any installment, assessment dues
interest, premiums fines for which he shall be.
come liable, in such manner the Bylaws shall
prescribe. Every stakeholder shall be entitled to
one vote only, irrespective of the number of
shares he may hold, and such vote cannot be cast
by proxy, nor shall stakeholder be entitled to
vote unless he has been such stakeholder for ut
least sixty days Immediately preceding such cleo
ton. Any member of said incorporation NAV be
allowed to withdraw therefrom at such time and
in such manner as may be prescribed by the By
laws
NINTH.
The funds accumulated by said association
shall be loaned out to its members in such sums
upon such security, on such terms and in such
manner as may be prescribed by the Bylaws.
TENTH.
When at any time within thirty COY years each
share of the capital stock of this corporation
shall become worth par or fifty (50) dollars every
holder of said stock who has not borrowed thereon
shall receive for each share thereof said sum of
fifty (50) dollars, less any sum he may then owe
said corporation, and the said series of stock
shall then determine. The Board of Directors
shall thereupon cancel and discharge of record
all mortgages given to secure loans upon stock of
said maturing series, provided the conditions of
said mortgages have been fully complied with,
and they shall also return to the mortgagors all
papers connected with said loan.
ELEVENTH.
The Board of Directors of said association shall
have power in their discretion to issue or to with
hold the stock thereof, and said stock may be is
sued in annual or semi-annual series.
TWELFTH,
The annual meeting Of the stockholders shall be
held on the first Tuesday after the third Monday
in April in each year. commencing in the year
1886, to elect fifteen 5) Directors for the ensuing
year and to transact any other business of said
association. Besides any other meetings may be
held at such time and place as may be prescribed
blythe Bylaws.
In witness whereof we have hereunto set our
hands and seal this Seventh day OF April, A. d.