Iowa state bystander. [volume] (Des Moines, Iowa) 1894-1916, 1896-06-19
Notice of Incorporation.

Notice is hereby given that the, MCLEAN
Arms Company has been organized as a cor.
| poration under and by virtue OF the laws OF
Iowa, for pecuniary profit.
The name OF corporation is the ''McClean
Arms Company and its principal place for trans
acting business is at Des MONIES, Polk county,
| Iowa.
Section 2 The general nature of the bust
ness to be transacted by this company is the
manufacture and sale of fire arms including
weapons OF warfare of hill kinds and appliance
and supplies and the purchase, sale or Lease OF
property of every name and nature that may
be useful in the transaction of its business
Sec g. The capital stock shall be S2OO,0OO
Preferred, and SlUO.O00 Common stock, which
shall be divided into 5000 shares of 500 EACH
and when issued shall be fully paid and nom
aSSeSSablc.
The preferred stock shall be entitled to q
first lien upon the assets of this corporation in
any distribution thereof, and also to prefer
ence in dividends, provided, however, that
when the net profits are sufficient TO pay per
e espi al stoeR referred and eommonJ shall
share equally and at the same rate IN the pay
ment Of dividends.
The common stock may be increased, but the
preferred stock can not he INCREASED, -Er
Dividends are payable semi.annrally out of
net profits OF the corporation
Sec. 4. The preferred stock shall be SOD ar
par. 800 shares may be sold at once and issued
on payment therefor
900 shares of preferred and 1000 shares OF
common stock are to be issued to S. N. Nc.
Clean in payment for all patents now issued or
tmay be issued to him on fire arms. supplies
therefor. and appliances thereto, ana the re
ina ming 800 shares of preferred stock shall not
be sold eitherin whole or in part except upon
cote OF twothirds of the preferred stock sold
snd issued. The board OF directors may fix
the tine and conditions OF payment on sub
scriptiops to the preferred cauitnl stock.
Sec. 8. This corporation may commence
business on the Goth day OF FEBRUARY, 1885 and
continue for twenty years unless sooner dis
solved by the vote of three fourths of the stock
holders, and it shall have the power OF renewal
as provided by statute.
c., ffoir ~ porpOratinn shall
be managed by board of directors OF not lels
than three nor more than seTen Sleek holders,
VITO saai be elected by the stock holders at the
annual meeting OF the corporation, which IS to
be held at the Office of the corpo1 alton in Des
Moines, Iowa, on the first Thursday after the
first Monday OF June, each year, At ,. ~,
cessors are elected and qualified. Each share
OF stock issned Shall be entitled to vote. The
directors shall elect from their own number
president, vice president secretary ana treas:
urer, who shall perform the suites required eau, of
tLenl by the haapd Of directors, Until the nrst
annual meeting of the corporation tae follow,
ing named persons shall constitute the board
OF directors and Officers, TO wit! PRESIDENT,
Thos. H. Gault; vice president g. Mont.
gomery secretary, W. D. Condlt; treasurer,
Sec T. The highest amount of Indebtedness
to which this corporations shall 81 at time sub,
ieoted shall not exceed two.thirds OF its capital
Sec. 8. The private property of the stock
holders shall be exempt from the debts of this
corporation.
rlSec. O. The articles of interpretation may be
amended atany snI,uaily nteetihe of the eorpo-
tatisn ar at ANY Special meeting called fer tina.
nurposs by a vote ot three. fourths OF the CAPT
tai stock issued
Sec 10. The board OF directors shall have
the power to adopt by laws and make all need
full rules and regulations for the management
ofrhe affairs of the corporation.
Signed this 10th day OF February, 1896
w. G. MONTGOMERY,
9, y. AisCLEHN,
". ID. CoNDIT,
THos. H. GAULT.