St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-09-08

For the purpose of organizing corpor alton &C.
cordlng to and by virtue Of the laws Of the State
OF Minnesota under the name and fer the pur-
poses hereinafter set forth, we the undersigned,
do hereby associate ourselves as q body corporate
and do hereby adopt the following articles of in
corporation.
ARTICLE 1.
The name of the corporation hereby formed and
organized shall be 1.-THE st Paul Peal Esta ta uitIa
Insurance Company"
The general nature of the business of said cor
poraton snail be TO insure owners of real estate
ana mortgages, and others interested in real es-
tate, from loss and damage by reason of defective
titles, liens and membranes upon real estate;
and to prepare and furnish abstracts Of title to
real estate, and furnish information relative
thereto; and to purchase land at tax sales; and to
purchase and hold tax judgment certificates and
city assessment certificates and to sell and convey
the same; and to do conyeyaRcing and collecting
take possession and charge of lands and institute
proceedings to perfect the titles Of land, and such
other business may be necessary in connection
with the care and transfer of real estate.
And in the settlement of any claim arising
under any policy or risk made or taken by this
corporation the corporation may purchase the
real estate mentioned therein and may thereafter
sell and convey the and give good title
thereto, in such manner and upon such terms as
it may deem advisable.
The principal place of the transaction of the
business of said corporation shall be the city of
st. Paul. in the State of Minnesota,
ARTICLE II.
The time of the commencement of the corpora
ton hereby organized shall be the goth day of
August A. d. 1886, and the period or its continu.
ance shall be thirty years.
ARTICLE III.
The amount of the capital stock of said eorpora
ton shall be Five Hundred Thousand Dollars
Ss5O0,oeoo0) and the same shall be paid in fol-
lows, to-wit Ten per cent. nO) thereof shall be
paid in ON or before the 1st day of October A D.
1856, the balance thereof at such times and in
such installments as the Board of Directors may
determine: provided. however, that not more than
ten per cent. (l0) OF said balance shall be called
for IN any one month.
ARTICLE ".
The highest amount of indebtedness or liabiIity
to which this corporation shall at any time be su b.
Ject is the sum of One Hundred Thousand Dollars
($l00, 0o00oo) except such liability as may be
created by the policies of insurance issued by the
corporation.
ARTICLE v
The names of the persons who unite to form
this corporation and their places Of residence are
follows. viz
Frank B. Clark, Frederick Driscou. A. G. Pos.
tlethwaite, Frederick d. Hager, p. R. L. Harden
bergh, William r. Merriam, William Lindeke e.
w. Peet, Gustav WiIlus, Daniel R. Moves D. W.
Ingersol, James 81. Weed, Arnold Kalman James
II. Davidson, Alex Sternberg. Lane K stone,
Charles p. Coleman Patrick H. Kelly Thomas
Cochran. Jr., William Dean, e. S. Norton, E.
W. Winter, George L. Farwen. L. FL. Max6eld, ].
j. Watson, George c. Squires Henry B, WenzelI
D. Fl. Moon, William Constans, Henry H Sibley,
F. Knauft. John w. White F. wilius, Edmund
Rice, Jr., T. F. Cakes all residing in the city Of
st. Paul and state of Minnesota
ARTICLE VI
The government of this corporation and the
management of its affairs are hereby vested in a
board of fifteen directors, who shall be elected BY
the stockholders of this corporation from their
own plumber at their annual meeting on the first
Tuesday in November Of each year. after the year
1886.
The names of the first Board of Directors are as
follows, VIZ: F. B. Clark. F. Driscon. sr., A. G.
Postletewaite, f. d. Hager P. r. L. Harden
bergh, w. r. Merriam, William Lindeke, E. W.
Peet, GustavWillius. D. R. Noyes. e. Rice, ID.
w. Ingersoll, j. II. Weed, Thomas p. Wilson
and Arnold Kalman.
The Board of Directors above named IshaI hold
their Office until the first annual election in the
year 1887 and thereafter the Board of Directors
of this corporation shall hold their Office for the
term of one year and until their successors have
been duly elected and enter upon the discharge Of
their duties, excepting that the Board of Directors
elected at the first annual meeting of the COM
pany shall be elected to serve as follows: Five
directors for year, five directors for two years
and Eve directors for three years. the term Of
each director to be determined by lot at their first
meeting after the first annual election. The di-
rectors of this corporation shall be elected by
majority vote of its stockholders and at all cleo
tons thereof each stockholder shall be entitled to
one vote, either in person or by proxy, for each
share of the capital stock of this corporation
standing in his name on the books of the COM
pany at the time of such elections,
In case of vacancy occurring in the Board of
Directors in any other Office hereby estab-
lished, the same shall be filed by the Board of
Directors until the next annual meeting.
At the first meeting OF the board of directors
herein named. and vt the first regular meeting of
each board of directors after the annual election
thereof, there shall be elected by said board of
directors from among their number president
and two vice-presidents; and said board may
appoint manager and attorney and such other
officers and agents said board of directors may
deem necessary to transact the business Of the
corporation.
The directors may also adopt such bylaws not
inconsistent with these articles as they may deem
necessary for the government and conduct of
the affairs OF the corporation.
And the bylaws may prescribe for the forfeit
ure of the stock of any stakeholder who shall
neglect to pay any installment due his stock,
after such notice shall have been given IS the
bylaws may require