Iowa state bystander. [volume] (Des Moines, Iowa) 1894-1916, 1896-04-24
Notice Of Incorporation.

Notice is hereby given that the under
signed have associated themselves to-
gether as a body corporate under the laws
Of Iowa That the name and style of this
corporation shall be 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 and
personal, and to transact all the business
pertaining to the carrying out Of the pur-
poses Of this organization, and generally
shall possess all the rights aud powers
enumerated in section 1869 of the code.
The principal place of business shall be
Des Moines, Iowa The purposes and
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 in
such business. Capital stock shall be $780,
600, divided into five hundred 5000
shares Of $50 each. This may be increased
by two-thirds vote of the board OF di-
rectors to any amount not exceeding
100000. This stock. shall be OF two
classes. preferred and common. BY a
two thirds majority vote OF tho board of
directors the president and secretary may
issue preferred stock to an amount not to
exceed $50, 900, but only on actual pay
ment OF money or 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 per cent per annunl. after that ana
in addition thereto, dividends shall be de-
clared equally on both classes OF stock.
Business shall commence at the time OF
filing 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
| firmative vote OF the majority of the stock
outstanding, and shall have right OF re-
newal as provided by law. The powers
of this concern shall be vested in a board
| of not less than three or over Ave dlrec-
| tors, the majority of whom shall consti-
tute quorum for the transaction OF bust
ness. and these directors shall be elected
and removed by a 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
| and employ and fix compensation OF all
officers. employees and agents. Each share
of common stock shall be entitled to one
vote and each share of preferred stock to
| two votes, su2h vote may be by proxy /;
and the annual meeting shall be held at
the office of the company in Des Moines,
Iowa, the fourth CD Wednesday IN
February Of each year. Special meetings
may be held as provided by the bylaws.
The highest amount Of indebtedness shall
not exceed two-thirds of the capital stock
and private property Of the stock
holders shall be exempt from cor
Ill, Gtpot- Iscr1aI
Shall be paid for in cash or property, and
if in 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
both stockholders and creditors as paid IN
full and worcestershire, 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.
Until the board Of directors and officers
shall have been duly elected as herein pro-
vided, the following persons shall act as
follows: President, E. l.. Fraley; vice
president. /. X. Wilson; secretary and
treasurer, Lawrence M. Byers; who shall
also act as board of directors. These
articles of incorporation ma be amended
at any regular annual or adjourned meet
| ing by three-fourths vote OF the stock
| present and voting.
6. L. FRALEY,
/. X. WILSON,