St. Paul daily globe., 1893-04-20
A RTIcLEs OF INCORPORATION OF

A RTICLES OF INCORPORATION OF
n the Minnesota Canal COMPANY
We, the undersigned. for the purpose OF
forming corporation under and by virtue OF
Title one %, Chapter thirty-four (34), of the
General Statutes of Eighteen Hundred and
Seventy Eight t1S7S) of the state OF Mime
sofa. and the acts amendatory thereof do
hereby associate ourselves together, and do
adopt and sign the following Articles Of In
corporatiOn:
The name of this corporation shall be ''The
Minnesota Canal Company the general
nature OF It's business shall be the coDstruc-
ton and maintenance Of system OF canals
and improved waterways for navigation.Y
manufacturing and other uses aud purposes
in the State of Minnesota the principal
place of transacting its business shall be the
City OF Duluth. in the State Of Minnesota.
ARTICLE II.
The time of the commencement of this
corporation shall be the twenty ninth day of
April. A. d. 1893, and the period Of its con-
tinuance shall De fifty (5g) years
The amount of the capital stock of this
corporation shall be two million q, 2,000.0J0)
dollars, and the same shall be paid in at such
times and i'll such amounts as the Board Of
Directors may determine.
ARTICLE ". !:
The highest amount of Indebtedness or liza
,pility to which this corporation shall at any
time be subject shall be Seven Hundred and
Fifty Thousand (S150, 000) Dollars,
ARTICLE V.
The names and places of residence of the
persons forming this Association for incor-
poration are as follows:
Henry Curtis Spalding residing at Duluth,
Minnesota.
Flayius j. Barber, residing at Chicago. Hi.
nois.
Milton Weston. residing at Chicago, Hi.
nois.
A. c. Martin, residing at Chicago Illinois.
Perclval Steele. residing at Chicago, ILL.
Frank F. Davis, residing at Minneapolis,
Minnesota.
S. NJ. Meek, residing at Chicago, Illinois.
ARTICLE VI.
The government of this corporation and
all management of its affairs shall be vested
III Board of Directors. composed Of seven
persons each of whom shall be a stoekholder
in said corporation.
The persons named in Article V. hereof
shall be and constitute the first Board of Di-
rectors, and shall serve as NC until The first
annual meeting of the stocAnolders herein
after provided for or until their successors
are duly chosen and qualified.
On the first Monday in September A. D.
1893, and annually thereafter, there shall be
held regular meeting of the stockholders
and at such meeting seven Directors shall be
elected three to serve one year. three to
serve two years, and one 10 serve three years,
or until their successors are duly elected and
qualified.
At such election each stockholder shall be
entitled TO one vote for each share of his
stock which may be cast in person or by
proxy.
Within twenty-four hours after each an
nual meeting of the stockholders there shall
be an annual meeting of the Board of Di-
rectors, at which meeting the Directors shall
elect from their own number President
Vice President, Secretary and Treasurer. to
serve one year, or until their successors are
duly chosen and qualified. The Board of Di-|
rectors shall also appoint such other officers
or agents as they may find necessary for the
proper transaction of the company S business,
such officers or agents to be subject, 10th as
to term and tenure of Office, to the pleasure !
of the said Board. Until the first meet-1
ing of the Board OF Directors herein provided
for and until their successors are duly chosen !
and qualified. Henry Curtis Spalding shall
President, Frank f. Davis as Secretary, and
A. G. Martin as Treasurer of this corporation.
Vacancies in Office or in The Board of Di-
rectors may be filled by appointment of
majority of the Board of Directors for the
uneX Xpired term, at any meeting OF the said
Board called for that purpose.
ARTICLE VII.
The number of shares in the capital stock
of this corporation snail be forty thousand
(40,0U0), and the amount OF each OF said
shares shall be fifty (S50) dollars.
In witness whereof, we have hereunto set
our hands and seals on this tenth day OF
April A D. 1893.
FIAVIUS j. BARBER, [SeaLl
MILTON WESTON, [Seal-]
A. c. MARTIN, LSeal.l
PERCIVAL STEELE, Seai.l
s. NJ. MEEK Seal.
FRANK +. DAVIS, seal.
HENRY CURTIS SPALDING, LSeall
Signed in the presence Of
WALTER Il. HOWARD,
Of Steele Il Howard, Attorneys at Law, w
Washington Street. Chicago;