St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-11-23
A RTIcLEs OF INCORPORATION OF
n Paul PerInanent Iaan Cnunany

A RTICLES OF INCORPORATION OF
n st. Paul Permanent Loan Company.
We. the undersigned, do hereby associate
ourselves together for the purpose of be-
coming corporation under the laws of the
State of Minnesota, and for that purpose do
hereby adopt and sign these Articles OF In
corporation.
Article l. The name of this corporation
shall be ''St. Paul Permanent Loan Com
pany." The general nature of its business
shall be the looming of moneys; the purchase.
holding aud sale of bonds, mortgages, stocks
and any other personal property; the issu-
ance and negotiation of bonds, mortgages,
debentures and other obligations; the pur-
chase. holding, sale, improving and leasing
of real estate; and the building, renting and
sale of houses.
poration shall be in the City of st. Paul,
Ramsey County, Minnesota.
Art 2. The time of commencement OF
this corporation shall be on The tenth Q0th)
day OF December, A. d., 1888 land the period
OF its continuance shall be thirty 800 years.
Art 3. The amount of stock of the cor
poratlon shall be one million dollars (S1 ,000,-
OO0,) divided into twenty thousand (2O,OOO
shares OF fifty 600 dollars each, and shall
be paid for in such manner and in such in
stallments as may be ordered by the Board
of Directors.
Art 4. The highest amount of indebt-
edness or liability to which this corporation
shall at any time be subject is the sum Of
seven hundred and fifty thousand $780,
000) dollars.
Art 8. The names and places of resi-
dence of the persons forming this corpora
tion are as follows: William Dawson. Dr.. of
81. Paul: Mimi; William A. Somers, of st.
Paul, Mimi; Edmund Rice, Jr., of st. Paul.
Mimi: Henry II. Fuller, of ST. Paul. Mimi;
Conrad A. kerst, of st. Paul, MINI.
Art q. The government of this corpora
ton and the management of its affairs shall
be vested in board of five directors, all OF
WHOM, shall be elected from and BY the stock
holders at the regular annual meeting there
OF, to be held as herein provided The said
directors shall, Immediately after their cleo
ton. organize and elect from their number
president, vice president, secretary and
treasurer.
The directors of the corporation shall be
elected for the term of one year. and shall
hold their Office until their successors are
elected and qualified: provided that any va
cancy in the board of directors may be filled
by vote OF majority of the remaining mem
bers
The annual meeting of the stockholders
OF SAID corporation for the election of Il
board OF directors and the transaction Of
such other business as may properly come
before it shall be held at the Office of said
corporation, IN the city of st. Paul. on the
tn1rd Monday in October in each year; pro-
yided that the first annual meeting
OF stockholders shall be held on
me thlrd Monday of October in
the year A. ID. 1889, and special meetings of
the stockholders shall be held at such times
and under such rules and regulations as
may be prescribed by the bylaws at air
meetings stockholders may be represented
and vote by proxy; each stockholder shall
be entitled to one vote for each share Of
stock held by him. and the holders of ma
Jorlty of the stock shall constitute quorum.
The names of the first board of directors
shall be-William Dawson. Jr.. William A
somers, Edmund Rice, Jr., Henry H. Fuller
and Conrad A. kerst. of whom Henry IL.
Fuller shall be president, Edmund Rice, Jr,.
shall be vice president, William 4. Somers
shall be secretary, and William Dawson, Jr.,
shall he treasurer; and shall hold their
offices until the first annual meeting of tho
stockholders, to be held on the third Monday
i'll October, A. ID. 1889 and until their sue
ceSsors are elected and qualified
In wtnese whereof we have hereunto set
cur hands and seal this twentieth day of No.
Yember, A. ID. 1883.
WILLIAM DAWSON, JR. fSeall
WILLIAM a. SOMERS. fSeali
EDMUND RICE. JR. iSeali
HENRY II. FULLER. Seaii
CONRAD \. KERST. tSeaLl
In presence Of
G. e. SHARP.
G. Il. ROBBINS.