St. Paul daily globe., 1893-04-26
A RT1cLEs OF INCORPORATION O

n the Minnesota Canal Company.
We, the undersigned, for the purpose OF
forming corporation under and by virtue Of
Title one O, Chapter thirty-four (34l, of the
General Statutes of Eighteen Hundred and
Seventy-Eight 1873 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:
ARTICLE l.
The name of this corporation shall be 1.-THE
Minnesota Canal Company" the general
nature of Its business shall be the construc-
ton and maintenance of system OF canals
and improved waterways for navigation.
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 TIE commencement of this
corporation shall be the twentyninth day Of
April. A. D. 1893, and the period of its con-
tinuance shall be fifty (5D) years.
ARTICLE III.
The amount of the capital stock OF this
corporation shall be two million C2000.0UO
dollars. and the same shall be paid i'll at such
times and in such amounts as the Board of
Directors may determine.
ARTICLE ".
The highest amount of Indebtedness or liza
bility to which this corporation shall at any
time be subject shall be Seven Hundred and
Fifty Thousand (S150000) 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.
Flavius 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, Hi
nois.
Frank F. Davis, residing at Minneapolis,
Minnesota.
M Meek, residing at Chicago, Illinois.
ARTICLE VI.
The government of this corporation and
all management Of its affairs shall be vested
Ill @ Board of Directors. composed Of seven
persons, each of whom shall be stockholder
in said corporation.
The persons named in Article V. hereof
shal! be and constitute the first Board of Di-
rectorS, and shall serve as such until the first
annual meeting of the stockholders herein
after provided for or until their successors
are duly chosen and qualified.
On the first Monday in September, A. D.
1899. and annually thereafter, there shall be
held Il 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 to serve three years,
or until their successors are duly elected and
qualified.
At such election each stockholder shall be
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 Dt-
rectors shall also appoint such other officers
or agents as they may find necessary for the
proper transaction Of the company business,
such officers or agents to be subject, both as
to term and tenure of office to The pleasure
of the said Board. Until the first meet
ing of the Board OF Directors herein provided
for and until their successors are duly chosen
and qualified, Henry Curtis Spalding shall
serve as President Milton Weston as Vice
President, Frank T. Davis as Secretary, and
A c. 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
| unexp 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
(40UU0), and the amount of each OF said
shares shall be fifty $3.50 dollars.
Iu witness whereof. we have hereuntO set
our hands and seals on this tenth day OF
April A D. 1898.
FLAVIUS j. BARBER, [Seal.l
MlLION NES1ON, lSSdl
A. C. MARTIN, LSeal-
PERCIVAL STEELE, lSeal.
s. NJ. MEEK, lSeaL
FRANK F. DAVIS, lSeaL
HENRY CURTIS SPALDING, [SeaL1
Signed in the presence OF
WALTER r. HOWARD,
Of Steele 4 Howard. Attys. at Law, 81
Washington ST.. Chicago;
NJ w. ZoERNsCH.
MINNIE l.. BLAKELY,
ABRAM SANBORN.