Iowa state bystander. [volume] (Des Moines, Iowa) 1894-1916, 1896-05-22
Notice OF incorporation.

Notice is hereby given that the Mclean
Arms Company has been organized as cor.
roration under and by virtue OF the laws OF
iowa for pecuniary profit
The name OF corporation is the "McCiean
Arms Company and its priRcipal place for trans
acting business is at Des MONIES, Polk county,
Iowa.
Sectiona The general nature OF the bust,
ness to be transacted by this company is the
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 s. The capital stock shall be 5000 OOO
Preferred, and 100000 Coalmon stock, which
shall be divided into 3, 900 shares OF 800 each,
and when issued shall be fully paid and non
assessable.
The preferred stock shall be entitled to a
first lien upon the assets OF this corporation in
any distribution thereof, and also to q prefer.
when the net profits are suficient to pay per
cent per annum on all stock issued, then all the
capital stock preferred and commonl shall
ment OF dividends.
Tho common stock may be increased, but the
preferred stock can not be Increased.
Dividends are payable semi annually out OF
net profits of the corporation.
Sec. L. The preferred stock shall be sold at
par. 500 shares may be sold At once and issued
1000 shares OF preferred and 900 shares OF
common stock are to be issued to S. N. Nc,
Clean in payment for all patents nov issued or
therefor. and appliances thereto, and the re
manning 500 shares of preferred stock shallnot
be sold either in whole or in part except upon a
vote OF two-thirds of the preferred stock sold
and issued. The board OF directors may fix
the time aud conditions OF payment on sub
Scriptions to the preferred capitnl stock.
Sec. 5. This corporation may commence
business on the Goth day of February, 1886 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.
Sec. 8. The affairs Of this corporation shall
be managed by board OF directors of not less
than three nor more than seven stock holders
who shall be elected by the stock holders at the
annual meeting of the corporation, which is to
be held at the once Of the corpol alton in Des
Moines, Iowa, on the first Thursday after the
first Monday OF June, each year, at Up. m,
and they shall hold their ONCE until their sue
cessors are elected and qualified. Each share
OF stock issned shall be entitled to vote. The
directors shall elect from their own number u
president, vice president, secretary and treas.
urer who shall perform the duties required OF
them by the board of directors, Until the first
ing named persons shall constitute the board
OF directors and officers, to wit: President
Thos. H. Gault; vice president, ". e. Mont
gtmer!; secretary, w. d. Condit; treasurer
Sec 4 The highest amount OF indebtedness
to which this corporation shall at at time sub
jected shall not exceed two-thirds of its capita
stock issued
Sec. 5. The private property OF the stock
holders shall be exempt from the debts of this
corporation.
lSec 9. The articles oiincorporation may be
amended at any annually meeting OF the corpo
ration, or at any special meeting called for thai
purpose by vote OF 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
ful rules and regulations for the management
OF the affairs OF the corporation.
Signed this Goth day OF February 1895.
VIC. MoNTGO merry,
S. N. MCCLELLAN
w. ID. CoNDIT,
THOs H. GAULT