St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-03-10
ARTICLES OF Incorporation
OF THE
Minnesota Warehouse and Ele-
vatOr Company.

yator Company.
IN NOW ALL MEN BY THESE PRESENTS, that
Ia we whose names are hereunto subscribed. have
and do hereby agree to associate ourselves together
for the purpose of incorporation, and to be incorpo-
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 by the
Minnesota Elevator Company, corporation creaIed
and existing under the laws of said state, or some or
any part of said properly and asses.
Second-To build and construct, or purchase, and
to main ain and operate grain grain ware
houses and grist mills in such numbers and at such
points and places in said state, said corporation
shall determine, charging and taking tolls and
charges, thereat and for such purposes to have pur
chase and hold all necessary lands real and mixed
property and estate; and also to purchase, sell,
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 transactins the busi
ness OF said corporation shall be at the city of Saint
Paul, in the county of Ramsey, in said state.
The corporation shall commence onthe 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 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 or may hold without mer
ger eXtinguishment and reissue the same, in the
same manner, and on the same terms other stock,
and as the directors may determine and elect.
Twenty-Five thousand dollars (s;5, 000.00) 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 to time under such rules and regu
lations may be prescribed by the directors not in
consistent vii h these articles.
The stock may be paid for in money, in property
at valuation to be fixed. and determined by the di
rectors at any special general meeting, by reso
luton order of the board of directors duly tered
of record particularly describing the property and
the price and value fixed thereon. TO each item,
parcel and no properly shall be taken, and stock
certificate of stock issued therefor, until such
order resolution has been duly made and duly re-
corded.
ARTICLE FOURTH.
The highest amount of indeb edness or liability to
which said corporation shall any line be liable,
sha be two hundred and fifty thousand, $780, 100000
dollars.
ARTICLE FIFTH
The names and places of residence of the persons
forming this association for Incorporation are as fol-
lows:
L. S. VAN vLIET, Lake City. Minnesota.
ALBERT SCHEFFER, Saint Paul, Minnesota.
7. X. SIMMONS, Red Wing, Minnesota.
ANSEL OPPENHEIM, Saint Paul, Minnesota.
c, A. HUBBARD Lake City, Minnesota.
JESSE MCINTYRE, Red Wing, Minnesota.
ARTICLE SIXTH.
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
Scheffer T. K. Simmons, Jesse McIntire and Ansel
Oppenhem.. The officers of said corporation shall
be and consist Of president, vicepresdent, secre-
tary, and treasurer, and the same person may hold
the offices of secretary and treasurer the same
line.
The government of said corporation and the man
agement Of its 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 re-
spectye 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 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 QO o'clock
in the forenoon.
election of directors, shall be holden at ten Q0)
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-
sttute the first board of directors Of said corpora
ton.
Until said first annual meeting of stockholders on
the first Tuesday in August, 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 .s to say: Che
said Jesse McIntlre shall be president, the said X
Simmons shall be the vicepresdent, and the said
Ansel Oppenheim shall be the secretary and the
treasurer.
The directors shall hold annual meetings as
practically convenient after said annual meeting
of stockholders for election of directors and that
day, in of adjournment of such stockhold-
ers meeting, then after such meeting the adjourn
day, for The election of said 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 are elected and qualified
No person shall be director or officer Of said cor
poration, who is not a stockholder therein.
Such general and special meetings Of the stock
holders and directors may be called and held, the
interests and exgences OF the business of che 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, in his absence, or inability to act,
the vicepresdent shall sign, on the part Of the cor
poratiOn all deeds or other mdentures or writings,
whatsoever, conveying leasing charging or ncum-
bering in any way affecting the lands tenemen $,
heredaments and real or mixed esta and property,
any interest therein the rents profits thereof
belonging to the corporation or in which has any
interest and deeds and instruments when so signed,
by the president vice-president, shall be counter
signed by the secretary In his absence inability
be- hat actin afarv and fhn
seal Of the corporation shall be thereto affixed And
no other officer, director member of said corpora
ton shall in any sign or execute on 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
in the power and specifically stating the object Of
the power, and the authority conferred first duly
made and entered Of record.
ARTICLE SEVENTH.
The capital stock Of said corporation shall be dvid-
ed into six thousand shares of fifty dollars each
In witness whereof, we, the persons hereinDefore
named as incorporators, have hereunto subscribed
our names, and affixed our seals, each for himself,
this 10th day Of January, 1885
c. A. HUBBARD. lseal
L. 8. VAN vLIET. [seal.l
Witnesses as to the signature of C. A. Hubbard and
l.. S. Van Vliet:
n. s. HOLMES,
CHAs. F. LEAvEY.
JESSE MCINTYRE. fseaLl
T. K. SIMMONS. lSeaL]
witnesses the signatures Of Jesse McIntire and
T. X. Simmons:
CHARLES KEMPK,
OREIy DTEsMoRK
ANsEL oPPENHEIM [seall
ALBERT SCHEFFER. [SesLl
witnesses as to Albert scheffer and Ansei Open
helm:
W. DAWSON, JR.
J. c. JENSEN.
STATE OF MINNESOTA
County Of Ramsey.
Be It known that on this 2Oth day OF February. A.