Iowa state bystander. [volume] (Des Moines, Iowa) 1894-1916, 1896-05-01
Notice of Incorporation.

Notice is hereby given chat the unuer-
signed have associated themselves To-
gether as II body corporate under the laws
of Iowa. That the name and style OF inns
corporation shallbe Mutual Book Concern
and by that name it shall possess the right
TO contract and be contracted with, to sue
and be sued. TO own property real ana
personal, and to transact all the business
pertaining to the carrying out of the pun
poses of this organization, and geheraily
Shall possess all the rights and powers
enumerated in section 1859 oithe code,
The principal place Of business Shall oe
Des MONIES, Iowa The purposes anu
object of the corporation shall be to
publish and have published books, etc, to
buy and sell publications or novelties OF
concerns and to do general book and
novelty business and to handle agents III
such business. Capital stock shall be $50,
600. divided into live hundred (5O0)
shares Of $50 each. This may be increased
by a two-t birds vote of the board OF di-
| rectors to any amount not exceeding
| S1OO. 600 This stock shall be OF TWO
| classes, preferred and common. by q
two~thirds majority vote OF the board OF
directors the president and secretary may
| issue preferred stock to an amount not TO
| exceed S15, 600, but only on actual pay
ment of money OF value deemed, by the
board OF directors, to equal stock SO IS
/ sued. Dividends shall first be declared on
outstanding preferred stock, but motto eN-
| coed z per cent per annum, after that ana
! in addition thereto, dividends shall be de-
! clared equally on both classes OF stock.
| Business shall commence at the time OF
i fling these articles of incorporation in the
/ office Of the recorder of deeds in Polk
county. and shall continue for twenty
wears unless, sooner dissolved by an at
4 firmatiye vote of the majority Of the stock
! Outstanding, and shall have right OF re-
newal as provided by law. The powers
i of this concern shall be vested in board
of not less than three or over Ave direc-
tors. the majority OF whom shall consti-
tute quorum for the transaction OF busl-
ness. and these directors shall be elected
and removed by majority vote OF the
stock present and voting at each
annual meeting, and their term OF Office
] shall be one year. The board shall elect
4 and employ and fix compensation OF all
4 officers employees and agents. Each share
Of common stock shall be entitled to one
vote and each share of preferred stock to
two votes, sulh vote may be by proxy;
and the annual meeting shall be held at
\ the office of the company in Des MONIES,
. Iowa. the fourth (D Wednesday IN
4 February Of each year. Special meetings
i NAV be held as provided by the bylaws.
The highest amount Of indebtedness shall
not exceed two-thirds of fhe capital stock
and private property OF the stock
/ holders shall be exempt from cor
norate debts. Stock, when issued.
Shall be paid for in cash or property, and
i ifin property the valuation shall be deter
mined BY the board of directors, whose
decision Shall be final as to said question
Of valuation. All stock when issued for
money or property shall be deemed as to
Z both stockholders and creditors as paid in
full and non assessable, The board OF
directors may by a two-thirds vote buy up
stock. and If any outstanding stock shall
not have been paid in full, according to
the terms of subscription. stock may be
| | declared forfeited and cancelled or pay,
ment enforced. A three-fourth vote Of
the stock shall have power to make
adopt, amend or strike out all bylaws
lITntil the board Of directors and officers
shall have been duly elected as herein pro
vided, the following persons shall act as
follows; President, Z. l.. Fraley; vict
+ nresident. / X. Wilson; secretary ant
treasurer. Lawrence M. Byers; who shall
also act as board of directors. Thes,
articles Of incorporation ma be amended
: at any regular annual OF adjourned meet
mo by a three-fourths vote OF the stool
present and voting.
T. l.. FRALEY,
l. /. x. WILSON,
LAWRENCE M. BYERs
Des Moines, Iowa, April l6, 1896.