New Ulm weekly review. [volume] (New Ulm, Minn.) 1878-1892, 1890-05-07
Articles Of Inc ation.
State OF Minnesota,
County of Brown. %

ls8COunIy OF sDFOWn,9 -
Know all men by these presents;
Thatsthe Undersigned do hereby asso-
ciate themselves together and agree to
become corporation under and
by virtue of the laws of the State OF
Minnesota in such case u,ade and pro
vided. andfor that purpose have adopt.
ed, agreed to, signed and executed the
following articles Of incorporation
g Article /. The name of this corpora
ton shall be { The New Ulm Elevator
Co.
Article 2. The principal place of bus
mess of this corporation shall be ana is,
in the city Of New Jim, County of Brown
and State Of Minnesota.
Article 8. The object of this corpora
ton and general nature of its business
shall be and is: The building, buying,
selling and operating Of Grain Eleya-
tors and Warehouses; to own, buy and
sell real estate; to purchase, own and
sell wheat, flax and other grain and
seeds, coal wood and salt and to do.
perform and transact any and all acts
and business incident to or needful and
proper for the successful prosecution Of
a general Elevator business.
Article 4. Said corporation shall COM
n,ence on the first day of une 1890 and
continue for the period Of thirty years.
Article 5. The amount Of capital
stock shall be fifty thousand 5O,OO0)
Dollars, divided into one thousand
(lOO0) shares OF Fifty ($5000) Dollars
each to De paid in, III such amounts and
at such times and under such reyula-
tons as the Bylaws may direct. Each
share of stock shall be entitled to one
vote at all meetings Of the stock holders
and upon all questions coming before
them
Article 6. The amount of indebted
ness or liabilities which this corpora
ton shall at any time be subject 10 or
incur shall at mo time exceed the amount
OF its capital stock paid in.
Article z The names and places of
residence of the persons forming this
corporation are as follows:
'Chas Silverson, Anthony Schmitt Jr.,
VIM. Koch, Geo. Schmidt and Chas. L.
Roos, all of the aforesaid residing in the
city of New Ulm. Brown County, Min
nesota.
Article s. This corporation shall be
managed and governed, its business
transacted. and all it's affairs arranged
by board of five directors, who shall
be elected by ballot at the stockholders
annual meeting Of the corporation, and
they shall hold their offices for one year
and until their successors are elected
and qualified. Said board of directors
shall organize Immediately after each
annual election OF directors by chosing
from their number President, Vice
president, Secretary and Treasurer,
and the persons so chosen shall be the
officers Of this corporation for the term
OF one one year and until their success
ors are elected and qualified. The Off
ces OF Secretary and Treasurer may be
held by the same person. Any vacan-
cies in said board of directors and Off
GERS shall be filled BY the said board at
any regular meeting thereof and such
appointee shall hold his office until the
next annual election of directors Said
board OF directors SO organized as afore-
said shall have full power to adopt all
rules, regulations and bylaws which
may be necessary in the discharge Of
their duties and for the government of
said board and this corporation not in
consistent with law and these articles
of incorporation. Until the first annual
election Of corporation directors, the
persons forming the association for in
corporation sLail be directors thereof;
until said election Chas. Silverson shall
be President, Anthony Schmitt Jr.,
Vice president, VIM. Koch secretary
and Chas. L. Roos shall be Treasurer.
Article 9. The annual meeting shall
be held on the first Monday in August
in each year commencing in the
year 1890, to elect FIVE directors
and to transact any other busi-
ness Of this corporation. Other
stated and special meetings may be held
at such times and places as the By
Laws may prescribe. At any and all
regular meetings the said stockholders
shall have the power to pass Bylaws
defining the duties of the officers of
this corporation. the general regulation
of the business Of this corporation
and generally to adopt all measures
necessary to carry out the objects Of
this corporation. Shareholders repre-
senting majority of the stock shall
constitute 9 quorum at all meetings of
the stockholders.
In witness whereof we have hereunto
set our hands and seals this Eighteenth
day of April, A. D. 1890.
Signatures:
CHAS. SILVERSON, TsEAI..l 4.
ANTHONY SCHMTTT JR. SEAL
VIM. KOCH, SEAL.
GEORGE SCHMIDT, [sEAL i
CHAS. L. ROOS, TsEAL.
Signed and sealed in presence Of
LEWIS B. KROOK,
H. S. KENNEDY.
State Of Minnesota, g
County Of Brown.
On this eighteenth day Of April, A..
I'd. 1890, before me, a Notary Public
within and for said county, personally
appeared Charles Silverson, ANTHONY
Schmitt Jr., VIM Koch. Geo. Schmidt
and Chas. i. Roos, to me known to be
the persons described in and who exc
cuted the foregoing instrument and ac-
knoWledged that they executed the
same as their free act and deed.
/ Z So - 4 n r.