The Kalispell bee. [volume] (Kalispell, Mont.) 1900-192?, 1902-03-29
BYLAWS
Of the Farmers Mill and Elevator
Company.
ARTICLE |.

Section 1. Any farmer or person
owning farm land under cultivation
may become stakeholder in said
company by subscribing and paying
for at least one share of the capital
stock.
Sec. 2. A correct list of each
stockholders name and place of resi-
| dence (post Office address) shall be
kept at the the Office of this COM
pany, signed by the secretary, and
open to the inspection of any stock
holder; and no stakeholder shall be
recognized for the purpose of receiv-
ing any dividend of profits or of vot-
ing until his name appears on such
| list
Sec. 3. No person may subscribe
for more than forty shares of the
capital stock of this corporation.
Sec. 4. Any stakeholder wishing to
dispose of stock must make written
application to the board of directors,
stating the amount of stock which
they wish to transfer, and within
thirty days the board of directors
shall either buy from the applicant or
sell to other farmers for him, charg-
ing no commission therefor. A stock
holder transferring his stock must
surrender his certificate to the board
of directors, and the board shall
cause a new certificate to be issued
to the person to whom ne makes the
transfer.
ARTICLE II.
The net profits of the business car
ried on by said corporation, after pay
ing the expenses Of management,
shall be declared as a dividend, not
to exceed five per cent per annum on
all paid up stock; the balance, if any,
shall be divided among the stock
holders who have delivered grain, in
proportion to the value of the grain
ARTICLE III.
Subscription for stock may be
taken on the basis of 10 cents per
bushel for wheat, and four cents per
bushel for oats, each farmer to take
stock in proportion to the amount of
grain which he expects to furnish.
ARTICLE ".
Every stakeholder may deliver or
cause to be delivered grain in pro-
portion to the amount of stock for
which he has subscribed.
ARTICLE vi.
Section 1. The officers of this COM
PAW shall consist of a president, vice
president, secretary and treasurer,
all of whom shall be chosen by the
directors from among themselves,
and treasurer, who may be selected
from among their own number, from
the stockholders, or some competent
person outside of the stockholders or
directors.
Sec. g. These officers shall be
chosen by the directors Immediately
after election.
Sec. 3. The directors shall be
] elected on the first Tuesday in June
t each year. They shall serve for one
year, and until their successors are
elected and qualified.
Sec. A. In case of failure to elect
directors at the appointed time, a
:. may be called for that purpose.
Sec. 5. No stakeholder shall be eli
:, gible for Office of director except
:. those named in the articles of incor
= poration for the first three months
), who has not been a stakeholder six
g months, and no stakeholder shall be
n eligible for the Office of president
| 10 hA al
y not been a director in the corpora
=, ton.
:. ARTICLE VII
l. Section l. All elections shall be
), by ballot and in manner provided by
r the civil code of the state of Mon
e tana.
Sec. 2. All vacancies in the board
s of directors shall be filled temperate.
S by the directors until the next annua
:. election.
l. ARTICLE VIII
u The president shall preside at al
o meetings of directors and stockhold
u ers. He shall sign, as president, al
e certificates of stock and all contract
and other instruments in writing
Wnlcn nave been hrSt approved b.
. the board of directors. He shall draw
all checks and warrants upon tn,
q treasury. He shall call the director
;. together whenever he deems it nee
: essary, and he shall have, subject t.
. the advice and control of the direC
, tors, the general superintendent O
= the affairs of the company. In tn
: absence of the president the vic
= president shall act as president.
r. ARTICLE TX.
"a The treasurer shall be responsible
I. for all money paid to him on accoun
3. of this company, and shall disburs
l. the same, under directions of tn,
e board of directors, on warrant
signed by tne president and secrt
J. tary. At each annual meeting of tn
Ie stockholders he shall submit a con