St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-03-12
ARTICLES OF Incorporation
OF THE
Minnesota Warehouse and Ele
yator Company.
OF THE

/ YdUUI OUHIpOhJ'
| T|NOW ALL MEN BY THESE PRESENTS, thai
| IN we whose names are hereunto subscribed, have
and do hereby TO associate ourselves together
for the purpose of Incorporation, and 10 De ncorpo'
rated. under and by virtue Of the laws ana statute
Of he State of Minnesota, and 10 mat emu, anu 80,
that purpose, have adopted and do hereby auoPb sno
sign the following articles of incorporation.
ARTICLE FIRST.
The name of this corporation shall be: MINNESOTA
WAREHOUSE AND ELEVATOR COMPANY.
The general of The business OF SAID corpora
ton shall be.
First--To buy In, purchase, and own the property
chooses in action and assets, formerly owned ny .nS
Minnesota Elevator Company, corporation crea'eu
and existing under the laws of said state, or some or
any part of said proper y and asse s.
Second-To build and construct, or purchase, ana
to main ain and operate grain elevators. grain ware
houses, and grst mills, in such numbers and at such
poin and places In said are as said corporation
shall determine, charging and taking tolls ana
charges thereat and for such purposes TO have pur
chase and hold all necessary lands real and mixed
property and esta e; and also to purchase sell, re-
ceive, store ship deliver on Its own account, or
on commission wheat and other grains, and other
farm products, merchandise and personal property.
The principal office and place of rransacng the bust
of said corpora ion 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 sock 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 SO purchased and bought in,
may retire and extinguish, may hold without
ger extnguishment, and reissue the same in the
same manner, and on The same terms other stock,
and as the directors may defermine and elect.
Twenty-Five thousand dollars Is 5U0O.10) five
hundred 5000 shares of the corporation
shall be subscribed for and fully paid in. its par
value at the commencement of the business of said
corporation, and the balance of said stock may be
issued from time to time under such rules and regu
la ions may be prescribed by the directors not In
consistent wi h these articles.
The stock may be paid for in money, or in property
at valuation to be fixed and determined by the d.
rectors at any special general meeting, by reso-
luton or order Of the board of directors duly tered
of record, particularly describing the property and
the price and value fixed thereon as 10 each item or
parcel, and no proper shall be taken, and no stock
or certifcare of ock issued therefor, until such
order or resolution has been duly made and duly re-
corded.
ARTICLE FOURTH.
The highest of indebt edness or liability to
which said corporation shall any ime be liable,
sha be two hundred and fifty thousand, $3.50. 0O
dollars.
ARTICLE FIFTH
The names and places of residence of the persons
forming this association for Incorporation as fol
lows
L. 8. VAN VLIET, Lake City, Minnesota
ALBERT SCHEFFER, Saint Paul, Minnesota
T. X SIMMONS, Red Wing Minnesota
ANSEL OPPENHEIM, Sain Paul, Minnesota.
c, A. HUBBARD, Lake CT Y, Minnesota
JESSE MCINTYRE, Red Wing, Minnesota.
ARTICLE xTH.
The names of the persons who shall constitute the
first board of directors of said corporation, the
aforesaid L. s. Van Vliet, G.. A. Hubbard Albert
Schefer T. K. Simmons, Jesse McIn ire and Ansel
Oppenhem,. 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 at the same
time.
The government of said corporation and the man.
agement of It's affairs shall be vested In its board of
directors to be composed of six directors including
said officers and its officers, who in addition to the
rights powers and duties of their several and
spectve offices, shall have and exercise all the rights
powers and duties of directors
The directors, after the first herein named, shall
be elected annually by the stockholders the first
Tuesday in August of each year at the Office of the
corporation, in said city of Saint Paul, annual
meeting OF the stockholders, to be holden on that
day, in each year, at said Office, at ten O) o'clock
in the forenoon.
The first annual meeting of stockholders for the
election Of dir :ctors, shall be holden at ten (10)
o'clock in the forenoon of the first Tuesday in Aug
ust. A. d. 1885, until which time and until their
successors are elected and qualified, the directors
hereinbefore named shall hold their Offices and con-
situte the first board of directors of said corpora
ton.
Until said first annual meeting of stockholders on
the first Tuesday in Angus, 1885, and the election
of directors, and until their successors 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 K.
Simmons shall be the vice-president and the said
Ansel oppenhem shall be the secretary and the
treasurer. -.-r+a-e .~.-
The directors shall hold annual meetings as soon
practically convenient after said annual meeting
of stockholders for election of directors and that
day, In of an adjournment of such stockhod-
ers meeting, then after such meeting, on the adjourn
day, for he election of said officers, and at such
meeting shall elect from their 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
year next ensuing after their election, and until their
successors are elected and qualified
No person shall be director officer of said cor
poration, who is not stakeholder therein
Such general and special meetings Of the stock
holders and directors may be called and held the
interests and eXfgencies of the business of :he corpO
ration may require and as may be authorized and
prescribed by the bylaws of the corporation.
The directors shall have power to fill any vacancy
In any of the Offices either of officers directors,
any special or general meeting of the directors
The president or In his absence, or inability to act,
the vice president shall sign, the part of the
poratton all deeds other indentures writings,
whatsoever, conveying, leasing, charging or incum-
berng. or In any way affecting the lands, tenemen 9,
Entertainments 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 ns ruments when signed,
by the president vcepresident, shall be counter
signed by the secretary in his absence inability
to act by the treasurer acting secretary and
seal Of the corporation shall be thereto affixed And
other officer, director or member OF said corpora
ton shall in any sign execute the part OF
the corporation any such deed, indenture 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 objectof
the power, and the authority conferred first duly
made and entered Of record.
ARTICLE SEVENTH.
The capital stock Of said corporation shall be divd-
ed lnto six thousand shares Of fifty dollars each
In witness whereof, we, the persons herenbefore
named lncOrpOratOrs. have hercmntO snhscrhed