The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1892-02-19
Mankato improvement Company
The Name Chosen Tuesday
Night, For the Young
Mems Organization.
The Capital Stock Shall be One
Hundred Thousand Dollars,
TO be Divided Into Two.
Thousand Shares of
Fifty Dollars
Each.
Articles of Incorporation Adopted and
A Board of Directors Elected.

An adjourned meeting of the young
business men of Mankato, was held at
the armory Tuesday, beginning at
s o'clock, with Mr.. James Shoemaker,
vice-president of the Board of Trade,
in the chair. Earnestness and good
will was written on every face of those
who intend TO be subscribers to the
capital stock of the new corporation.
After the presiding officer had
stated the object of the meeting, on
motion Mr.. G. L. Benedict was unani-
mously chosen secretary. The com-
mittee selected to draft incorporative
papers, reported through Gen. E. M.
Pope. On motion, it was decided to
read section by section and act upon
it in the same manner.
In substance the articles Of incorpo-
ration as adopted are as follows:
The name of the corporation shall
be The Mankato Improvement Com
pany. The general nature of the
business shall be the buying, selling
and owning Of an interest in the
capital stock of any corporation or in
the capital of any partnership or in
dividual, which corporation, partner
ship or individual shall be engaged in
the business of manufacturing within
the city of Mankato; and that the
corporation shall enter into no part
nership except as d special partner.
The principle place of business is to
be at the city Of MaDkatO. The period
of it's continuance has been fixed at
thirty years, commencing on Feb. Is,
1892.
The amount of capital stock shall be
100000 and shall be divided into 1000
shares Of $50 each, which shall be
paid in as called by the Board of Di-
rectors: provided it does not call more
than per cent. at the first call and
not more than two per cent. monthly
thereafter, and that no call shall be
made until the full amount shall be
subscribed for. The highest amount
OF Indebtedness or liability that the
company shall at any time be subject
is $4,000. The governing of the cor
poration and the management of its
affairs shall be invested in Board o.
Is Directors, who shall be stockhold
ers in the corporation.
| The officers shall be president
president, secretaryan treasurer
4 On motion, Messrs Byron Hughes
i W. B. Davies and III. P. Jensen were
i appointed committee to suggest thu
the names of Is persons to act as ;
Board of Directors until the annua
election to be held on April 10Th, 1892
The committee retired and in a few
minutes returned and suggested thu
following named persons, who were
by unanimous vote elected:
H. P. Christensen, Henry Hance,
G. H. Higgs, Ed. Cousandier,
Leo S. Lamm, Frank Pay,
Frank Clements, w. d. Willard,
Fred Widell, r. E. Brown,
W. L wy, cOAlh ~ AA"iA;
J. G. Thro, 0. Cassidy,
Archie Patterson
1t is understood that the Board il
to take the matter of soliciting sub
ScriptionS to the shares of stock
Quite a large amount of stock ha
been subscribed for now. EverybOd,
present at the meeting seemed to b.
enthusiastic ever the scheme and tn
utmost good feeling existed. Th'
trend of thought, idea and ambition
was in the interest of MANKATO. I
is believed the directors will do al
in their power to canvas the cit,
thoroughly, and close up the affair a
the earliest possible moment.