St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-12-06
ARTICLES OF INCORPORATION
The Minnesota Mortgage Loan
Company.

The three persons hereinafter named, and whose
names hereunto subscribed, do hereby associ-
ate themselves together for the purpose OF forming
corporation under Title two, Chapter thirty four,
of the General Statutes of 1866 and the amend
ments thereto and to that end do sign and seal,
and hereby adopt the following articles of incor-
pOratlon:
ARTICLE I.
The name or the corporation shall be "The Min
nesota Mortgage Loan Company" The general
nature of the business of the corporation shall be
to act exclusively and solely agent for the bor
rover in obtaining loans of money on real and
personal security including commercial paper of
every name and nature, and to indorse or guaran-
tee for compensation the collection OF loans SO Sc
cured by it as agent for the borrowers; provided,
that its Endorsements or guarantees shall at no
time exceed the amount of its capital stock. Said
corporation shall also have power to act as attor-
ney in fact for any and all persons for the purpose
of collecting, receiving payment upon, satisfying.
cancelling and assigning mortgages, mercantile
paper and securities The principal place of bust
ness of the corporation shall be the city of Min
neapolis, Hennepin county, Minnesota, and it may
have a branch office in the city OF St. Paul, Ram
sey county, Minnesota.
ARTICLE II.
The time of the commencement Of the corpora
ton shall be the LIST day of December, A. D. 1885,
and its period Of continuance shall be twenty
years.
ARTICLE III.
The amount of capital stock of said corporation
shall be ten thousand dollars, and the same
shall be all paid in on the said LIST day of Deem
Der, A. D. 1885, in cash.
ARTICLE ".
The highest amount Of indebtedness or liability
to which said corporation shall at any time be
subject shall be ten thousand dollars.
ARTICLE Y.
The names and places of residence Of the un-
dersigned, who form the association for incorpo-
ration. are as follows, to-wit Joseph S. Mackey,
whose residence is the city of st. Paul. Mime
sofa; Thomas Il. Hubert, whose residence is the
city Of Chicago, Illinois, and Harry NJ. Mcintosh,
whose residence is the city of Kansas City, Mis-
souri,.
ARTICLE VI.
The names Of the first board of directors are:
Joseph s. Mackey, Thomas Fl. Hubert and Harry
NJ. Mcintosh, The government OF the corpora
ton and the management of its affairs shall be
vested in the board of directors, who shall be
three in number, and who shall be elected annu-
ally by the stockholders at an annual meeting OF
the corporation, to be held the first Wednesday
in December of each year. The directors shall
elect president, who shall be one OF the
said three directors, and the directors shall
for the regulation of the corporation affairs, and
NAV provide for the election of secretary and
treasurer and fix the duties to be performed by any
officer and they may hold meetings at any time.
ARTICLE VII.
The number of shares of capital stock shall be
two hundred. and the amount of each share shall
be fifty dollars.
JOSEPH 8. MACKEY, [Seal.
THOMAS 81. HUBERT, Seal.
HARRY NJ MCINTOSH. lSeal.