The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1898-05-18
ARTICLES OF
INCORPORATION
of the
Ely Finnish Stock
Company.

KNOW ALL MEN BY THESE PRESENTS. that
we the undersigned have associated our
selves together for the purpose hereinafter
mentioned pursuant to the provisions OF
Title Two, (O, of chapter Thirty-Four. go
General Statutes of Minnesota" and to that
end have organized in adopting and signing
the following articles of Incorporation.
ARTICLE 1.
The name of the corporation shall be, ely
Finnish Stock Company"
ARTICLE II.
The general nature Of the business of this
corporation shall be to open and maintain
general store. to buy and sell for profit to
itself and others and keep in stock to sell at
retail, groceries. provisions queenSware,
boots, shoes. clothing. hats. caps. meats
cutlery. and all other kinds Of merchandise
they may need. or Is usual or customary to
carry in stock in general merchandise
retail store.
ARTICLE III.
The principal place of business OF this
company shall be at Ely, st. Louis county.
ARTICLE w. =
The time of commencement OF this corpor-
alton shall be May 18th, 1888, and shall con-
tinue in force thirty years.
ARTICLEv.
The capital stock Of this corporation shall
be Five Thousand dollars. Gs5.0O000) Two
Thousand dollars. g., 100000 of which capital
stock. shall be paid in on or before the COM
mencement of business Of the corporation,
resolution Of the board Of directors.
ARTICLE W.
The highest amount of liability or indebt-
edness to which this company shall at any
time be subject is the sum Of Two Thousand
dollars, G2,000,00).
ARTICLE VII,
The names and places Of residence Of the
persons forming this Incorporation are as
follows; viz;
Matti Porthan. Ely, Minnesota.
Otto Pikkarainen
E. w. Lund. ="
John f. Porthan. .
The government OF this corporation and
the management Of its affairs. shall be
vested in the following officers. to-wit;
A board Of Directors and a President
Secretary and Treasurer. all OF whom shall
bestockholders and be elected annually.
The board of directors shall be elected by
the stockholders at their annual meeting
and the president secretary and treasurer
shall be elected by the board of directors
The names OF the first board Of directors
of this corporation. and who also shall hold
the following named offices until August
1898, when the first election )f directors and
officers shall be had are as follows:
Presdent--E. W. Lund,
Secretary-John L. Porthan.
Treasurer-Matti Purthan,
The time and place of holding the annual
meetings of the stockholders OF this corpor-
ation, for the election OF directors shall after
the first meeting In August 1898, be on the
second Tuesday OF August Of each and every
year thereafter, at the hour ana place TO Dt
fixed by the bylaws Of the corporation.
The Office Of secretary and treasurer may
be held by one and the same person.
ARTICLE TX.
The capital stock OF this corporation shall
be.divided into Five iundredJ(500) shares O.
Ten dollars, $1,000 each.
In testimony whereof we have hereuntC
set our hands and affixed our seals this l4tf
day of April, a. D. 1898.
MATTI PORTHAN. tseaIl
ANDREW WATILA. seal
OTTO PIKKARAINEN, lseal1
E. w. LUND. [seal]
JOHN +. PORTHAN, lseal1
In presence OF
A. j. Thomas,
John Palmgard.