St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-04-16

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The government of this association and the
management of its affairs shall be vested in
Board of fifteen Q5) Directors, each one of whom
shall be stakeholder and the same shall be elected
annually by the stockholders at their annual meet
ing on the first Tuesday after the third Monday in
each year after the year 1885.
| at their first meeting after an annual election
| the Board of Directors shall elect President
| Vice President, Treasurer, Secretary and Attor-
ney from their own number, and the term of Office
of each shall be year or until his successor ia
elected and qualified.
Vacancies may be filled by the appointment of
majority OF the directors at any regular meeting.
The Board OF Directors shall have full power to
| transact and manage the affairs of said corpora
| ton, to pass bylaws, defining the duties of the
officers of said corporation, imposing reasonable
fines, assessments and dues tR9n IT'S 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 10 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 Die
rectors towit Henry Orlemanp, Mark D. Flower
| A. w. Schwabe, X. ID. Czeikowitz, Peter Thauwald,
j. G. Nolan, Patrick OHalloran, P. NJ Kerst
August Hammer, o. ID. Holman, e. F. Krahmer,
| William F. Bckel, w. A. McManigal, A. Nc
! Guigan, J. G. Donnelly.
| And until said election, the following persons
shall be the officers of said corporations: A. W.
Schwabe, PRESIDENT Henry Orlemann, vice presi-
| dent; p M. Kerst, treasurer William f. Bickel,
secretary; o. e. 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 by
| 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 the shares of
| stock for which he may subscribe, and all fines,
dues, premiums and interest on loans as he may
become liable for them, and to comply with the
Articles of Incorporation and Bylaws of said as
| 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 as 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 at
| least sixty days Immediately preceding such elec-
ton. Any member Of said incorporation may be
| allowed to withdraw therefrom at such time and
in such manner as may be prescribed by the By
laws
| 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 may be prescribed by thu Bylaws
| TENTH.
| When at any time within thirty (80) 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 t5O) 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 10 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.
/ II, witness whereof we have hereunto set our
| hands and seal this Seventh day of April, A. ID.