St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-04-25
A SAFE PLACE That's aPY d. WHAT
A RTICLES OF INCORPORATION
n the Minnesnta Canal Cnmnanu
] MdLInt6 ION 0rrOW.
Coming-"The Struggle OF Life"

A RTICLES OF INCORPORATION OF
II 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 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. |,
corporations: .
ARTICLE 1.
The name of this corporation shall be 1.-THE
Minnesota Canal Company" the general I
nature of It's business shall be the construc-
ton and maintenance of q system OF canals
and improved waterways for navigation,
manufacturing and other uses and purposes
in the State of Minnesota; the principal
place of trarsacting its business shall be the
City or Duluth. i'll the State Of Minnesota.
ARTICLE ii.
The time of tie commencement of this
corporation shall be the twenty. ninth day Of
April. A. d. 1893. and the period of its con-
tinuance shall be fifty go years.
ARTICLE Ill
The amount Of the capital stock OF this
corporation shall be two million (20000UO
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 liza
Dility 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 incor.
poration are as follows: o.
Henry Curtis Spalding, residing at Duluth.
Minnesota.
Flavius j. Barber, residing at Chicago, Hi
no1s.
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.
S. NJ Meek. residing at Chicago, Illinois.
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 stakeholder
in said corporation.
The persons named in Article V. 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 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 to serve three years.
or until their successors are duly elected and
qualified.
At such election each stakeholder 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 ana 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
r find
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
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
unexpired term, at any meeting OF the said
Board called for that purpose.
ARTICLE VII.
The number of shares in the apital stock
of this corporation shall be forty Thousand
(4O,0UO, 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, [Seal1
MILTON WESTON, [SeaL1
A. c. MARTIN, Seal
PERCIVAL STEELE, Seal
S. NJ. MEEK, seal
FRANK F. DAVIS. Seal
HENRY CURTIS SPALDING, tSeaL
Signed in the presence Of
WALTER K. HOWARD,
Of Steele d Howard. Attys. at Law, %
Washington ST., Chicago;
NJ W. ZoERNsCH.
MINNIE l.. BLAKELY,
ADRIAN SANBORN.