St. Paul daily globe., 1885-04-14
SNVENTH

SEVENTH
The government of this association and tho
management of its affairs shall be vested in a
BOARD OF nfteen (15) Directors, each one of whom
shall be stockholder and the same shall be elected
annualy py the stockholders at their annual meet
ing on the first Tuesday after the third Monday in
each year after the year 1885
, AT thelr hrst meeting after annual election
tne Board OF Directors shall elect a President
vice PRESIDENT, Treasurer, Secretary and Attor.
ney from their own number, and the fern of off;oa
OF each shall be one year until his successor is
elected and qualified.
vacancies may be filled by the appointment of a
majority OF the Directors at any regular meeting
The Board OF Directors shall have full mower 70
transact and manage the affairs of said cornora.
tlon' to pass bylaws, defining the duties of the
officers of said corporation, imposing reasonable
hnes, assessments and dues upon its members
regulating the subscriptions 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, X. D. Czeikowtz, Peter Thauwald
j. c. Nolan, Patrick o'Halloran, p. NJ. Kerst
August Hammer, o. E. Holman. r. F. Krahmer
William +. Bickel, w. A. Mechanical A Nc.
Guigan, J. G. Donnelly
And until said election, the following persons
shall be the officers of said corporation: A. w.
Schwabe, president; Henry Orlemann vice pres-
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 stockbolder who
has not previously obligated himself in writ
ing to punctualy pay the monthly dues
installments 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
Articles of Incorporation and Bylaws of said as
sociation. Said stock may become forfeited for
neglect or refusal on the part of the holder
thereof to pay any lnstallment, 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, ard such vote cannot be cast
by proxy shall stockholder be entitled to
vote unless he has been such stockholder for at
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, such terms and in such
manner as may be prescribed by the Bylaws.
TENTH.
When at any time within thirty (30) years each
share of the capital stock Of this corporation
shall become worth par or fifty (5O) dollars every
shall receive for each share thereof said 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
Il A1, -
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
1885, 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. ID.
1885.