St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-03-16
ARTICLES OF INCORPORATION
OF TBE
Minnesota Warehouse and Eli
vator Company.

vator Company.
J1Now ALL MEN BY THESE PRESENTS that
IN we whose names hereunto subscribed, have
and do hereby agree TO associate ourselves together
for the purpose of Incorporation and to be ncorpo-
rated. under and by virtue OF the laws and statutes
of the State of Minnesota, and TO that end and for
that purpose have adopted and do hereby adopt and
sign the following articles of Incorporation
ARTICLE FIRST.
The name of this corporation shall be- MINNESOTA
WAREHOUSE AND ELEVATOR COMPANY.
The general nature of the business OF said corpora
tion shall be-
First-To buy in, purchase and own the property,
chooses in action and assets formerly owned Dy inc
Minnesota Elevator Company, corporation created
and existing under the laws of said state, or some or
any part of said properly and asse 8.
Second--To build and construct, or purchase, ana
to main ain and operate grain-eevators. grain ware
houses and grist mills in such numberssand at such
points and places in said siate - SAID corporation
shall determine, charging and taxing toiis anu
charges thereat; and for such purposes TO nave pu
chase and hold all necessary lands real and mixed
property and esta and also to purchase sell, re-
ceive, store, ship deliver, on Its own account, OF
on commission wheat and other grains, ana othef
farm products, merchandise and personal property.
The principal Office and place of transacng the bust
ness of said corporation shall be at the city OF Saint
Paul, in the county of Ramsey, in said state.
ARTICLE SECOND.
The corporation shall commence on the seventeenth
day of March, A. D. 1885, and continue for thirty
years.
ARTICLE THIRD.
The amount of the capital stock of said corporation
shall be three hundred thousand dollars.
No stock nor any certificate of stock shall at any
time be issued until the full par value thereof has
been actually paid In.
Said corporation may purchase and buy in its own
stock. and the stock purchased and bought in,
may retire and eXtinguiSh may hold without mer-
ger extinguishment, and reissue the same in the
same manner and on the same terms as other stock,
and as the directors may determine and elect
Twenty-Five thousand dollars Cs25, 00O0O) or five
hundred $500 shares of the stock of said corporation
shall be subscribed for and fully paid in at its par
value, at the commencement of the business of said
corporation and the balance of said stock may be
issued from time time under such rules and regu-
lations may be prescribed by the directors not In
consistent with these articles.
The stock may be paid tor in money, In property
at valuation to be fixed, and determined by the d
rectors at any special general meeting by
luton order OF the board of directors duly tered
of record particularly describing the property, and
the price and value fixed thereon as to each item
parcel, and properly shall be taken and no stock
or certificate of stock issued therefor, until such
order or resolution has been duly made and duly
corded.
ARTICLE FOURTH.
The highest amount of indebtedness, or liability to
which said corporation shall at any ime be liable,
sha be hundred and fifty thousand $780, OOO.0O
dollars.
ARTICLE FIFTH.
The names and places of residence of the persons
forming this association for Incorporation, as fol.
lows
L. S. VAN vLIET, Lake City, Minnesota.
ALBERT SCHEFFER, Saint Paul, Minnesota.
T. X. SIMMONS, Red Wing Minnesota.
ANsEL oPPENHEIM, sain1 Paul, Minnesota.
C, A. HUBBARD, Lake City, Minnesota.
JESSE MCINTYRE, Red Wing Minnesota.
ARTICLE XTH.
The names of the persons who shall constitute the
first board of directors Of said corporation are the
aforesaid L. s. Van Vliet, G. A. Hubbard, Albert
Scheifer, T. X. Simmons, Jesse McIn ire and Ansel
Oppenheim,. The officers of said corporation shall
be and consist of president vice-president secre-
tary, and treasurer, and the same person may hold
the offices of secretary and treasurer al the same
time
The government of said corporation and the man
agement of its affairs shall be vested in its board OF
directors, be composed OF six directors including
said officers and its officers, who in addition to tho
rights, powers and duties OF their several and re-
spectiye offices, shall have and exercise all the rights,
powers and duties of directors.
The directors, after the first herein named, shall
he elected annually by the stockholders on the first
Tuesday in August Of each year at the office OF the
corporation. in said city of Saint Paul. at an annual
meeting of the stockholders, TO be holden on that
day. in. each year, at said Office, at ten 1O) o'clock
in the forenoon.
The first annual meeting of stockholders for the
election of directors, shall be holden at ten, QO
O'clock in the forenoon of the first Tuesday In Aug
ust. A. D., 1885, until which time and until theI
successors are elected and qualified the directors
hereinbefore named shall hold their Offices, and con-
stitute the first board of directors of said corpora
tion. r.. sa-
Until said first annual meeting of stockholders on
the first Tuesday in August, 1885, and the election
of directors and until their successors are elected
and qualified, the following named persons shall be
the officers of said corporation that is to say the
said Jesse McIntre shall be president, the said X.
Simmons shall be the vice president, and the said
An
treasurer
The directors shall hold annual meetings
as practically convenient after said annual meeting
OF stockholders for election Of directors and that
day, or in of adjournment of such stockhold
ers meeting then after such meeting on the adjourn
day, for the election of sad officers, and at such
meeting shall elect from their own number and from
the directors elect said officers of the corporation for
the year then next ensuing.
The directors and officers after the first herein
named, shall hold their respective offices for one
year next ensuing after their election, and until their
successors elected and qualified.
No person shall be director or officer of said cor
poration who is not q stakeholder therein
Sucn general and special meetings Of the stock
holders and directors. may be called and held the
interests and eXgences of the business of he corpo-
ration may require, and rs may be authorized and
prescribed by the bylaws of the corporation.
The directors shall have power TO I'LL any vacancy
in any OF the offices, either of officers directors at
any special or general meeting of the directors.
The president In his absence, inability to act,
the Wcc-presiden shall sign, the part of the cor
poraton, all deeds or other lndentures writings,
whatsoever, conveying leasing charging or incum-
bering In any way affecting the lands, tenemenfs,
heredtanents and real or mixed esta and property,
any interest therein or the rents profits thereof
belonging to the corporation In which IL has any
interest and deeds and instruments when SO signed,
by the president vcepresident, shall be counter
signed by the secretary In his absence or inability
to act by the treasurer as acting secretary, and the
seal of the corporation shall be thereto affixed. And
other oficer, director or member of said corpora
ton shall in any sign execute, the part OF
the corporation any such deed, indenture or writing.
And no power Of attorney shall In any case be
made, given the part Of the corporation except
by order Of the board Of directors naming the grantee
in the power and specifically stating the object Of
the power, and the authority conferred first duly