The Irish standard. [volume] (Minneapolis, Minn. ;) 1886-1920, 1890-08-30

of M
FARnkRRS LOAN AND sAVINGGGO.y sSsss
81 lfinneap polls. i'm.
ls Know al mean 81 the o present. We the
Ind eteiSned 6s Arthur Scott, i. @. Bean and y.
opsshl 6 essples. redd County Ml1nngsota.
Minnesota. At I. KJeldson, ot Ada, Norman
County Mimi. q Brook. .of Renville Ben
vile County, MINI. J. a. Folsom, of dinneap-
burg, Alleehensy Co, Penn, =. 7. lsIsrien aud
hereby assoc late Ourselves toEether to become
porale under and 81 virtue 81 the laws Of the
StateOf MinnesO1a and for that purpose, we and
each OF MS individually and collectively hereby
ADOPT and sign the following articles @ incor-
ss=S ARTICLE L.
The name Of this corporation shall be the
Farmers Loan and Savings COMPANY and It's
general Office and place Of business shall be the
City 81 Minneapolis, County OF Aennepin.
State OF Minneeota. s5s IL &
ARTICLE II. Is
The general nature OF the business Of this cor
pOration, shall be the loaning OF capital, moneya
and funds Of its own and belonging to OTHERS on
good and marketable securities; to own, hold,
sell, convey and dispose Of real estate and other
properties. credits and affects taken on fore
closure or forfeiture. to buy, hold. and own such
necessary to conduct and carry on its business;
to incur and contract Indebtedness and issue,
negotiate. sell and dispose Of its corporate and
debentnre bonds; to sell, assign, mortgage,
transfer. by pothicate and pledge it's real and
personal securities and real estate.
ARTICLE LII.
The authorized capital stock Of this corpor-
dollars, to be divided into two thousand GOO
shares of the par value of one hundred (1O0) dol
lars per SHARE and shall be issued and paid up.
as the board OF direc ors may from time to tine
ind 6eafs .
ARTICLE Nv.
The highest amount of indebtedness which
this corporation shall become liable for, ex-
elusive of the liabilities On it's capital stock and
exclusive of the liabilities on its corporate or
debenture bonds, shall at no time exceed fifty
Der cent of the amount of subscribed capital;
for the purpose Of increasing the amount Of the
loan funds of said corporation. the board of dt-
be issued issue. negotiate, sell and dispose of its
corporate or debenture bonds; said bonds may
be issued in series OF such amounts and de-
nominations and from time to time as said board
may determine.
ARTICLE v.
The government IF this corporation and the
management of it's affairs shall be vested in
board of directorr of not less than i've and not
more than fifteen as may from time to time be
determined, said board shall be divided into
three classes. The term of Office of those of the
first class shall expire in one year. those of the
second class in two years and those of the third
class shall hold their Office for three years.
+ The classification of directors shall be de-
termined at first meeting st said board. The
number and be composed of the ten persons
forming this corporation, any vacancies occur
ring in said board may be filled by the remain
ing members for the unexpired term.
ARTICLE vi.
: The officers of this corporation shall be COM
posed of a president, one or more vice presi-
dents, secretary and treasurer, the same to
be elected by the board of directors from among
their number, ana within thirty days a 1 the
tion of directors. Said officers to hold their re-
spectiye Offices for the term of one year, until
their respective are elected or APP
vacancies occurring in any of said offices shall
be filled for the unexpired term by eaid board.
ARTICLE VII.
All directors, officers and agents, except Office
clerks or other minor employees shall be stock
holders in order to be eligible to hold Office.
ARTICLE VIII.
In the year 1891. the following named persons
shall be the officers Of this corporation, viz;
p. AMcCarthy, president; J. w. Earl, first vice
R EDWIN J. Kirby, secretary; 5. Arthur Scott,
treasurer. s+.I..
= ARTICLEIX
The annual meeting of stockholders of this
CORPORATION for the election of members OF the
pired and for the transaction Of other business
shall be held at the general Office on the third
Wednesday of September in each and every year
after the year 1890, or as soon thereafter as
practicable.
ARTICLE K.
This corporation shall commence business on
the fourth day of August, A. D. 1890, and shall
continue for period of thirty (3O years.
ARTICLE XII,
The board of directors of this corporation
shall have full power to adopt, enact, and e.
force all necessary bylaws for the govern ment
of said corporation, the management of it's af-
fairs. its officers and employees and to change.
alter, repeal, amend and modify the same or any
part thereof and adopt new bylaws
In testimony whereof. we the incorporators
have hereunto subscribed cur names aud affixed
our seals at the City of Mimi eapoiis. Minnesota,
this 10th day of July, A. D. 1890.
Signed scaled and executed in presence Of
T.. SHERWOOD. ,f
Fl. G. NOBB1Ns.
REAN TSpa1