The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1896-04-23
ARTICLES OF AGREEMENT
or the WOrthingtOn Cooper
ative Creamery AS
ISOLATION.

We. the undersigned, persons of lawful age
Association under subdivision I, of title 2, o
Chapter 81, OF the General Statutes OF 1878, 0
the Laws of the State of Minnesota, and tn
Acts amendatory and supplemental thereto
the same being Sections 1908, to 1872 inclusive
of the General Statutes of 1894, of the State o
Minnesota, and have adopted the following
ARTICLE
The name Of this Association shall be tn,
M NV EsSSGiHTi0 e. OPERATIVE CREAM
ARTICLE II.
The place OF business OF this Association shall
be at the Village of WORTHINGTON, NOBLE.
COUNTY, MINNESOTA.
ARTICLE III.
The object of this Association shall be tho
MANUFACTURE OF BUTTER, CHEESE, and ALI
OTHER PRoDUcrs made or prepared from
MILK or CREAM or the Products THEREOF OF
THEREFROM.
ARTICLE Nv.
The Officers OF this Association shall be
President, Five Directors, and a Treasurer
and Who shall be chosen annually. b. thu
Stockholders, at a regular meeting Of tile AS.
ISOLATION to be held OIL the Second Monday Of
January Of each year and their term Of Office
shall have been duly elected and qualified.
The first Board OF Managers shall be W. e.
Stoutenmyer. President: John Hansberger, j
Humiston. Directors; and Jas. Kamage. Treas ss
urer, all Of whom shall hold their respective OF.
fees until the regular annual meeting OF the As,
January A. D. 1897. for the purpose of choosing
their successors and until such time as theil
successors are chosen.
ARTICLE v.
The Duties OF the respective officers shall be
meetings of the Association, sign ali drafts and
pay over to the Treasurer ali mOnevs which
shall have come into his possession by virtue OF
his official position, taking the Treasurer's re-
He shall have power to call special meetings
of the Association whenever in his Judgment
the business OF the Association shall require 1t
Or whenever TO 90 majority
The Treasurer shall receive and receipt for
all moneys belonging to the Association and
pay out the same only upon orders which shall
The Treasurer shall give bonds in such an
amount as the Association shall provide by its
Bylaws. .uF
urer shall constitute a Board Of u; Managers.
whose duties shall be to audit and allow ali
just claims against the Association. sS a
They shall compute the amount of milk re-
moneys received thefor, and, after deducting
from the total receipts the percentage herein
prOvidedto for sinking fund and also the run
divide the remaining receipts of the preceeding;
month among the members and patrons of the
Association, proportionally to the amount OF
the whole milk or fat furnished BY each. Pro
vlded however, that no money shall be paidtos
any member or patron until all Indebtedness
owing by said member or patron to said AS
sociation shall have been paid, and the said
apply any money due from any member or
patron by said Association, or which may be-
come due to the payment Of any indebtedness
that such indebted member or patron may owe
The Board OF Managers shall cause to be
made in writing, report to the annual meet
ing of the Association, setting forth in detail
the gross amount of the receipts of all kinds,
the amount or amounts expended and paid out
for all purposes in detail, and to cause to be
made to said Association such other and furth-
its members at any time or a majority Of the
members present at any regularly called III Get
ing, by vote, may require.
The Board Of managers are hereby empower
ed to borrow such sum OF money, not to exceed
in total amount the sum of One Thousand
$4,000 Dollars, as they may decide that the
business of the Association shall require, and
to give therefore the obligation of this Associa-
obligation or mortgage shall he in the name of
the Association and shah first be authorized by
the vote OF the majority OF the Board of Man
ayers therfor; and shall be executed by the
deed of such Association. : -
The total Indebtedness Of this Association
shall at no time exceed Twenty-Five per cent.
Of the total amount of its Capital Stock. ''
.u.a. ARTICLE vi, e
the Board Of Managers shall have complete
perty of the Association, during its term OF of.
fce but shall contract no indebtedness which
shall be made due and payable for any greater
their term of Office. except only by q majority
vote of the stockholders authorizing them ex.
pressly so to do.
ARTICLE VII. D.;
The life Of this Association shall be for a
period OF IE ~ YEARS from the 1st day Of Jan
uary A. D. 1884,. and no Indebtedness shall be
made to become due and payable, in any event
after such time. -
=; ARTICLE VIII.
Each member shall be ENTITLED to one vote
only At any meeting, upon any subject, before
-. Xsx members may be admitted =. provided
Members shall BE permitted to withdraw
from this Association only al provided in tie
Bylaws. IA a 4. ,. a.I - %3>5 rs 49,
$a ARTICLE TX. II.
: All special meetings shall be called by. the
ed BY amajority vote Of said board such meet
ing shall be authorized, provided that in case OF
q request in writing 50 to do signed by . ma
iority Of the stock holders the Presid ent or the
Treasurer or any one of the Directors may
make call as provided In the bylaws without
such resolution. - = : = :.
HI &g ~ y#a ARTICLE K, 80 E4s
These articles of agreement may be. amended
at any annual meeting. or at any special meet
Ing called Tor that purpose, provided that two
thirds OF all members present vote in favor of
such change; and provided further, that at
least one months notice of such proposed
amendment shall have been given in such mani
ner as may be provided in the bylaws, or
otherwise by the Association. VIA 800 z =. -
ARTICLE XII,
The Capital Stock of this Association shall be
Four Thousand (&40OO.00) Dollars, and shall be
divided into shares of Fifty (15O00) Dollars
each, and no member shall hold, at any one
time. an amount greater than the face value Of
Twenty shares of said Stock #sJsI5E
2The Association may increase or diminish the
amount Of It's Capital Stock or the amount Of
It's shares Of stock in such manner - 10 pF0vid-
ed by tho Laws Of the State Of Minnesota, re-