The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-02-04
ARTICLES OF INCORPORATION
MINNEAPOLIS AND NORTHWESTERN LAf


AND NORTHWESTERN LAND
g. - = 3..T COMPANY.
we. the undersigned, hereby associate our
under and Pursuant to the provisions of title
two Ga of chapter thirty-fou (34) of the gen
eral statutes of the state of Minnesota and acts
adopt and sign the following articles of incor
poratiou, towit:
The name of the said corporation shall be and
Is the minneapolis and Northwestern Land
Company, and the principal place OF the
transaction of it's business Shall be the city of
Minneapolis, Hennepin county, Minnesota. 80
+, iii t-ae.. ARTICLE Ii. 1920, ...-.
, The purpose for which this corporation is ere
ated and established and the general nature OF
the business OF said corporation shall be tin.
manufacture of timber into lumber and the
cultlvatins and improving of farm lands, and
the raising and improving of live stock, and the
DONG OF all things incident and necessary there
to, and the functions of this corporation are
limited to the transaction Of the business afore-
Guiding the acquisition of lands and the market
ing, the. produce of said business.
ARTICLE III.
: The time Of the commencement of this cor
pofation shall ! be the 5th day of February
1903, and the period of continuance thereof shh Ii
be thirty (30) years
80 .... ARTICLE ".
The amount of the capital stock of sa id cor.
poratlon shall be the sum of million five
hundred thousand dollars Isl, 500, OO0), which
shall be divided into ten thousand 100000
(SlOOl each, and five thousand $4,000 shares
OF preferred stock of one hundred dollars ($1Oo,
each AL Of which stock shall be paid in at sucl
times and in such manner as the board of di
rectors shall direct: suid preferred stock to re-
ce1Ve dividends of six per cent per unnum, allt
the said preferred stock. be called in by sale
board Of directors, paid off at par and Cancelled
at any time, and so long as said preferred stocl
shali be outstanding and unpaid, no dividend
shall be declared or paid on said common stock
The said preferred stock shall have no voting
power at the meetings Or elections held by the
ARTICLE v.
The highest amount of Indebtedness or liability
to which said corporation shall at any time bt
subject shall be five hundred thousand dollars
me he names of the persons forming such asso
clat LI for corporation purposes and the places
81. their residences follows:
II. II. Coleman, Minneapolis, Minnesota.
II. NJ. Funson, Minneapolis, Minnesota.
H. z. Benton, Minneapolis, Minnesota.
w. c. Hamilton Minneapolis, Minnesota.
Fred r.. Price, Sault Ste. Marie, Michigan
ARTICLE VII.
The names of the persons forming the frs
| board of directors of said corporation are a
H. H. Coleman, H. NJ. Funson, w. c. Hamil
| ton, f. 7; Benton. Fred R. Price, and the SAT-
! first board of directors shall hold their office
unit! the annual meeting of the stockholders ant
until their successors: are elected and qualified.
| ARTICLE VIII.
! The government of this corporation and tn
| management Of its affairs shall be vested in
board of five %, directors, Who shall be stock
holders of said corporation, and shall be electe
the hrst annual meeting and election of officer
! and directors shall occur on the second Wednes
day IN IN February, 1909 and annually thereafter
! be increased from five 90 to nine (9) directors.
| ARTICLE TX.
| The officers of said corporation shall be
| president, vice president, secretary and treas
urer, but the offices Of secretary and treasure
may be held by one person. These said officer
shall be elected annually by the board of direc
tors, and until their successors shall be electe
and qualified. the following shall be the officer
! Of said corporation:
H. II. Coleman, President.
! H. NJ. Funson, Vice President.
III r. Benton, Secretary and Treasurer.
AIrICLE X.
Any vacancy occurring in any of said office
may be filled by said Board of Directors at an
general or special meeting.
The bylaws of said corporation shall be pre-
pared and adopted by the Board of Directors
| the first melting of said Board, at which meet
| ing they may also transact such other bushes
| meeting of said Board of Directors shall be til
9th day of February, 1903
In Witness Whereof We have he s, Sc
+ + i: g ~ LENA esses1.}
y; ,, 6; HAM sII5E {seal:}
| In The presence of
G c2a1S &; " Khh GIVEN.
STATE of MINNESOTA, COUNTY OF HEN
nepin. IS.
| On this 31st day of January, 1903 before me
! Notary Public. in and for said Hennepin coun
| ~. personally appeared II. II. Coleman, H. Nj
/ Funson H. P. Benton, w. c. Hamilton an
+. r. Price to me we'll known to be the per
! sons described in and who executed the fore
| going articles of Incorporation. and SEVERAL
| acknowledged that they executed the same
Louis A. REED.
Notary Public for Hennepin County
STATE, OF MINNESOTA, DEPARTMENT ol
| STATE
| ] hereby certify that the within instrumen
| w 1pd for in hic offic n.