St. Paul daily globe., 1893-04-21

~
n the Minnesota Canal Company.
We the undersigned, for the purpose Of
forming a corporation under and by virtue OF
Title one %, Chapter thirty-four (34), of the
General Statutes of Eighteen Hundred and
Seventy-Eight 1878 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,
corporauon:
The name Of this corporation shall be ''The
Minnesota Canal Company" the general
nature OF It's business shall be the cOnstruc4
ton and maintenance Of a system OF canals
and improved waterways for navigation.
manufacturing and other uses and purposes
in the State of Minnesota; the principal
place of trdnsacting It's business shall be the
City or Duluth. in the State Of Minnesota.
ARTICLE II.
The time of TIE commencement of this
corporation shall be the twenty ninth day Of
April. A. D. 1899, and the period Of its con-
tinuance shall be fifty (59) years.
ARTICLE Ill
The amount Of the capital stock of this
corporation shall be two million (20000U0)
dollars, and the same shall be paid in at such
times and in such amounts as the Board OF
Directors may determine.
ARTICLE ".
The highest amount of Indebtedness or la
oility to which this corporation shall at any
time be subject shall be Seven Hundred and
Fifty Thousand (S750.000) Dollars.
ARTICLE V.
The names and places of residence Of the
persons forming this Association for incoT-
poration are as follows:
Henry Curtis Spalding, residing at Duluth,
Minnesota.
Flavius j. Barber, residing at Chicago, Hi
nots
Milton Weston, residing at Chicago ILL
nois.
A. C. Martin, residing at Chicago Illinois.
Perclval Steele, residing at Chicago, llli-
nois.
Frank F Davis, residing at Minneapolis,
Minnesota.
ARTICLE VI
The government of this corporation and
all management of its affairs shall be vested
IN Board of Directors, composed OF seven
persons, each of whom shall be a stockhOldeH
III said corporation.
The persons named in Article Y. hereof
shall! 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 III September. A. D.
1893, and annually thereafter, there shall be
held a regular meeting of the stockholders,
and at such meeting seven Directors shall be
elected. three to serve one year. three 10
serve two years, and one TO serve three years.
or until their successors are duly elected and
| qualified.
All 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-
reclors 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 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 f. Davis as Secretary, and
\. c. Martin as Treasurer of this corporation.
Vacancies in Office or in the Board Of D1-
rectors may be filled by appointment of
majority of the Board Of Directors for the
uneXpired 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 shall be forty thousand
(i0,OU0), and the amount Of each of said
shares shall be fifty $50 dollars.
In witness whereof, we have hereunto set
our hands and seals on this tenth day OF
April, A. D. 1893
FLAVIUS j. BARBER. [SeOl.]
MILTON WESTON, [SeaLl
a. C. MARTIN, tSeal.
PERCIVAL STEELE. Seal.
S. NJ. MEEK, Seal.
FRANK +. DAVIS ISeal
HENRY CURTIS SPALDING, [seaLl
Signed in the presence Of
WALTER r. HOWARD,
OF Steele Il Howard AttyS. at Law, %
Washington St.. Chicago;
NJ w. ZOERNSCH,