The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1902-04-04
1T is LAUNCHED
Mankato and St. Peter Railway
and Lighting Co.
W.. L. Hixon Chosen President and A.
E. Clark SeCretary.--Board of
Fifteen Directors.

stock, held at the city hall. The
meeting was we'll attended and a great
deal of interest was displayed. AS
soon as the articles of incorporation
are fled, the company will be ready
TO do business, and one of the first
things to be done will be the talking
over of a franchise and street lighting
contract from tie council and con
tracts for commercial lighting. 1t
will then, if the stock subscription
has been completed, be ready to do
business with the eastern capitalists
who are to finance the enterprise.
Mayor Petersen was elected chair
man of the meeting, and A. E. Clark
secretary.
Mr.. Clark reported for the committee
appointed at Wednesday nights meet
ing that articles of Incorporation had
been prepared. The number of direc-
tors has been left blank, and this mat
ter should be settled at once
W. L. Hixon favored a large repres-
entation, as the stock had been taken
by popular subscription. He suggest
ed that St. Peter and Kasota each be
allowed a director. He suggested that
there be eleven directors, and if this
body should prove to be unwieldy it
could elect an executive committee
of three or FIVE.
Mayor Petersen'said that some favors
could be expected of st. Peter and
suggested that two directors be taken
from there and one from Kasota.
Col. Widell did not see how any
director could be chosen from those
towns unless there were some stock
holders there.
Mr.. Clark said that he had gained
the impression from a letter written
by Mayer Mueller of st. Peter that
he and several of his friends would
take stock.
On motion of F. W. Hunt, the num-
Der of directors was made fifteen.
Mr.. Clark suggested that only thir-
teen directors be chosen, leaving two
vacancies for Mr.. Collins to fill. Mr..
Collins might name two residents.
Mr.. Hixon thought that such a large
board of directors would be unwieldy
and thought that outside investors
would prefer that an executive board
have the active management.
The following directors were
chosen: Mayor Petersen, W. D. Will
lard, Geo. M. Palmer, Col. Widell
w. L. Hixon, A. E. Clark, A. O.
Meyer, S. Wilhartz and W. g. Hoer,
of Mankato; Mayor ". b. Muelle
and County Attorney G. R. Davis o
st. Peter; and G. W. Babcock o
Kasota.
The next question was the selection
of a name for the corporation.
S. Wilhartz suggested ''Mankato an
st. Peter Traction Co." Mr.. Hixol
favored the name, "Mankato and st
Peter Traction and Lighting Co."
Jay Henry Long thought that tn
negotiation of the bonds would b
helped by having the word "Light
ing in the name.
On motion of Mr.. Clark, the CON
pany was named, "Mankato and s
Peter Railway and Lighting Co."
: Mr. Clark then read the articles {
incorporation. They provide that tt
purpose of the company shall be
build, maintain and operate an ele'
trio street railway in Mankato an
from Mankato to Kasota, st. PETE
/ and other points, and an electr
f lighting, heat and power plant, and
gas plant, and to acquire and own re
estate and personal property. MAJ
: kato is named as the principal pla'
of business, and the corporation is
: continue for fifty years from APP ril
1902. The capital stock is placed.
$500, 900, divided into shares of ST.
each, to be worcestershire. The lin
of Indebtedness is placed at $500, 90
Fifteen directors are to be elect
Il annually, and the board is authoriz
. to fill vacancies therein. The articl
can be amended by a majority vo
in amount of the stockholders at al
q regular meeting.
% The articles of incorporation we
adopted, on motion of MI. Wilhari
On motion of W. L. Comstoc
the names of the directors were q
l. proved as the names of the incorpol
tors.
A. G Meyer asked whether the CO
pany would take subscriptions of |
re and issue stock therefor.
Mr.. Clark thought that the CO
pany could only acquire and hold 81
III real estate as was necessary for
operation. The lots could be held
trust by somebody, or could be g
and the proceeds invested in the sto'
Mr.. Comstock said that railrc
d. companies deal in outside land, q
that the twin city street Car compa
has done it.
Mr.. Long agreed with Mr.. Clar
a. position.
10 Mr.. Hixon said that only one per-
az ~ had asked to have stock given Tin
change for lots. The other parties l
ed donated the lots.
81 Messrs. Clark and Long said t
he the company could receive any do
IT. tions of property.
The meeting adjourned.
at