St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-06-18

A RTlcLEs OF INCORPORATION OF
"A the Gray Cloud Land Comparative,
the undersigned, do hereby associate our
ton under title two ~ OF chapter thirty
four (34} of the General Laws of the State
of Minnesota and the several acts of the leg
islature of said state amendatory thereto. and
for that purpose have adopted and signed
the following articles of incorporation:
Article l. The name of this corporation
shall be 1.-THE Gray Cloud Land Company"
The general nature of the business OF said
corporation shall be to buy. own, improve,
sell and deal in lands, tenements and heridit-s
aments, real and personal estate and property,
and to have, own, purchase, receive, possess
and retain the same, TO itself and its successors,
and to use and enjoy the same, and the same
to improve by erecting and constructing
thereon dwelling houses and other buildings,
erectOns and structures. and otherwise to
enhance. build upon and improve the same,
to every extent aud in such manner and for
such purpose as may become necessary, or
as said corporation may deem proper or ad-
yantageous; and to sell, convey, lease, let.
mortgage, or otherwise dispose OF, charge
and cucumber said lands, tenementS and
Entertainments. real and personal property
and estate, or any of the same, or any right
or interest therein. at pleasure, and in such
manner and on such terms as said CORPORA
ton may determine by order of its directors.
or establish by its bylaws, and, for that pur-
ner accept and receive, all necessary
and proper deeds, conveyances, mortgages,
leases, and other contracts and writings
obligatory, and to have and exercise all nee
essary rights, franchises. munimenis, estate,
powers and privileges necessary to that end;
said corporation shall be authorized to loan
and borrow money, and to negotiate loans
for the uses and purposes OF its business, and,
for that purpose and to that end, may make
and deliver, and in like manner accept and
RECEIVE and all and nr0HQr
deeds, conveyances, assignments, mort
cages, deeds of trust leases notes, bonds or
other contracts and writings obligatory and
securities which said corporation may deem
expedient to make and deliver. or accept ana
receive for its own security, or to enable it to
negotiate loans for itself as aforesaid; and
to have. exercise, and enjoy all the fran
chlses. rights. powers and privileges OF
corporation, as provided in said title and
act.
Article g The principal place of business Of
said corporation shall be in the city of Saint
Paul. in the county of Ramsey and state of
Minnesota, with a branch Office in the city of
Richmond and state of Virginia.
Article 3. The time CT commencement Of
said corporation shall be the LIST day of May.
A. D. 1889, and the period Of its duration
shall be thirty years after and from said
date.
Article 4. The amount of capital stock of
said corporation shall be one hundred thou
sand dollars (S1oO,OO0) and the same
shall ad be paid . in at .., such en- times
by the board Of directors. The highest
amount of Indebtedness or liability to which
said corporation shall at any time be subject
shall be the sum of ten thousand dollars
Article 5. The names and residences of the
persons forming this corporation are as fol-
low, to wit:
Odin G. Clay, residing in St. Paul. Mime
sofa; Samuel G. Wallace, Arthur NJ. Seldom,
n ~.
Hunter Jr., and B. Randolph Wexford, all
residing in Richmond, Virginia.
Article 6. The names Of the first board of
directors of said corporation are as follows,
to wit: Odin G. Clay, Arthur Al. Seldom.
James D. Crump, John Rutherford, Samuel
G. Wallace, John Hunter Jr., and B. Ran
dolph Wexford.
The government of said corporation and
the management OF its affairs shall be vested
in board of seven directors, to be elected by
and from the stockholders annually, as here.
matter provided. the annual meeting for
such election shall be held at the branch
Office of the said corporation in the sand city
OF Richmond on the second Tuesday in June
of each year, and until their successors are
elected and qualified the said directors
above named shall respectively continue to
be such directors. The directors shall, at
their annual meeting, to be held Immediately
after the annual meeting of the stockholders,
elect president, vice president, secretary
and treasurer, and the secretary need not be
a stakeholder of said corporation. Until
the first annual meeting as aforesaid
Odin G.. Clay shall be President, James
D. Crump, Vice PRESIDENT Elizabeth n. Clay,
Secretary; and Samuel 6. Wallace, Treasurer.
In case of the death or resignation or ina
bility or refusal to act OF any Of said officers,
their places shall be filed by the remainder
of said board of directors, at any meeting
called and held for that purpose.
If, for any cause, the annual meeting for !
the election OF the officers and directors
shall not be held at the time above specified,
it may be held at any other time that the d. |
reasonable notice to the stockholders.
Article z. The capital stock of said cor |
poration shall be divided into one thousand
$1,000 shares Of one hundred dollars (slOO)
shares shall be- preferred. OF said preferred |
stock, one hundred QOO) shares shall re- |
ceive interest on the face value thereof from |
August goth, 1886, to August Goth,
annum, and one hundred t1OO) shares |
at the rate of 6 per centum. before !
any dividends are paid on the stock not so |
preferred; and the full face value of all said |
August goth. 1889, at the rate of six par |
centum per annum, shall be paid on said pre- |
ferred stock before any dividends are paid |
on the stock not so preferred. The said pre- |
ferred stock shall then be retired. and no
In witness whereof the said incorporates |
have hereunto set their hands and seals this |
18th day of April, A. D. 1889.
S. G. WALLACE, (Seal1
I'D. CRUMP, fSeal1 |
A. NJ. Seldom, [Seal1 |
JOHN HUNTER JR., (Seal1
ODIN G. CLAY, lSea1.1 |
JNO. RUTHERFORD, lSeal1
B. RAND. WEXFORD. lSeal.1
STATE OF VIRGINIA. 70 wit.
CITY OF RICHMOND. W
Be it remembered that on this, the Oath |
day Of April, 1889, before me, the under |
signed, notary public in and for the said |
city in the state aforesaid, personally APP |
peared Odin G. Clay, Arthur NJ. Seldom |
James D. Crump, John Rutherford, Samuel |
G. allace. John Hunter DR., and B. Ran
dolph Wexford, to me personally known to |
be the same individuals who executed the |
foregoing articles of incorporation, and each |
of them duly acknowledged that he executed |
the same freely and voluntarily for the uses |
and purposes therein expressed
Given under my hand and notarial seal |
this the oath day Of April 1889.
INotarial Seal.] G. r. TABB,
Notary Public for the City Of Richmond, in
the State of Virginia.
STATE OF MINNESOTA,
DEPARTMENT OF STATE.
. hereby certify that the within instrument
was filed for record in this Office on the LIST |
Ciay of MAY, A. ID. 1889. at o'clock D. M,