The Irish standard., 1890-09-13
q AR1IuLEs or INCoRPoRATIoN
OF the
FARMERS LOAN AND SAVINGS CO.,
5 S.; Qf Minneapolis, MINI,

Know all tflen BIZ these presents. Ihat we thc
asss e sapss a sdst 5oan Bsan sss
Minnesot n: KJeldsof, of Ada, Norman
copnty Ainn,, Z. BROOKS of Re 9. !ls, Hon
oils, Hphnepin Go, Mimi, 3. j. Kirby. of Pitts.
F. A: Nc arthy of Morris. Stevens Co: Mimi,
Incorporated and do BY these presents incor-
Dorate under and by&virtne Of the laws OF the
State Of Minnesota and for that purpose, we and
each Of us Individually and collectively hereby
FL ARTICLE t.
The name of this corporation shall be the
Farmers Loan and Savings Company and It's
CITY of Minneapolis, County of Hennepin.
State of Minnesota.
ARTICLE n.
The general nature OF the business OF this cor
poration, shall be the loaning of capital, moneys
and funds of its own and belonging to OTHERS on
first mortgage real estate security and other
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
real estate and personal property as may be
necessary to conduct and carry on it's business;
to incur and contract Indebtedness and issue,
debenture bonds; to sell. assign, mortgage;
transfer. hypothicate and pledge it's real and
personal securities and real estate. y
ARTICLE Ill.
The authorized capital stock of this corpor-
alton shall be two hundred thousand O,O0V
dollars, to be divided into two thousand (2,0O0)
shares of the par value of one hundred (1OO) dol
lars per share, and shall be issued and paid up.
as the board OF direc; ors may from time to time
order and dete rhine.
ARTICLE Nv.
The highest amount of indebtedness which
this corporation shall become liable for, ex-
elusive of the liabilities on its capital stock and
exclusive of the liabilities on it's corporate Or
per cent of the amount Of subscribed capital;
for the purpose Of increasing the amount of the
loan funds of eaid corporation, the board of d.
rectors may by resolution duly adopted cause to
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 Y.
The government of this corporation and the
mana cement Of it's affairs shall be vested in
board Of directore OF not less than five and not
more than fifteen as may from time to time be
determined, said ID board shall be divided a into
first class shall expire in one year, those Of the
second class in two years and those OF the third
class in three years and thereafter those of each
class shall hold their Office for three years.
The classification of directors shall be de-
termined at first meeting Of said board. The
first board OF directors shall consist of ten III
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 unex pired term.
ARTICLE vi.
The officers of this corporation shall be COM
posed of a president. one or more vtce-presi-
dents, secretary and treasurer, the same to
be elected by the board of directors from among
their number, aud within thirty days after the
annual meeting of the ste cknolders for the cleo
As~ - G1f1 <f$sno f<Nh fn6,In
spective offices for the term of one year. or until
their respective successors are elected or ap-
pointed and have qualified and taken Office. any
vacancies occurring in any OF said offices shall
be filled for the unexpired term by said 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.
Until after the annual stockholders meeting
in the year 1891. the following named persons
?. a. Mccarthy, president; J. W. Earl, first vice
president: j. T. Brooks, second vice president;
Edwin j. Kirby, secretary; S. Arthur Scott,
= - : ~. ARTICLE TX.
The annual nesting Of stockholders of this
corporation for the election of members Of the
board of directors whose term OF Office have ex-
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 x ..
This corporation shall commence business on
the fourth day Of August, A. D. 1890, and shall
continue for period of thirty (S0) years. %&
ARTICLE XII,
The board of directors of this corporation
shall have full power to adopt. enact, and en-
force all necessary bylaws for the government
OF said corporation, the management of its af- |
fairs, its officers and employees end to changes |
alter repeal, amend and modify the same Or any !
part thereof and adopt new bylaws.
In testimony whereof. we the inco1porators |
have hereunto subscribed our names aud affixed
our seals at the City of Minneapolis. Minnesota,
this 10th day of July, A. ID 1890.
Signed sealed and executed in presence OF
q, SHERWOOD, +a.i
TT e. NORBINS ~ /