The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1903-07-22
ARTICLES OF INCORPORATION
OF THE
Farmers Grain and Fuel Co.
OF Debit Rrnwoon 90 ,,r,rx,
STATE OF MINI
OF DELHI, REDWOOD CO., MINI

STATE OF MINNESOTA
| county OF Redwood. {
/ The undersigned hereby associate them
| selves, and agree to become CO operative
association under and by virtue of the
and to that end have adopted, agreed to and
signed the following articles Of incorpora-
| ton:
the Farmers Grain & Fuel Company. and
it's principal place of transacting business
snail be at the village of Delhi, MINI.
| transacted by this association shall consist
| IN buying and selling grain and fuel
III.
The capital stock shall be Ten Thousand
dollars, three thousand dollars OF which
snail be paid in at the beginning of the or
ganzation and the capital stock may be in
creased from from time to time. to and not ex-
capital stock shall be paid in from time to
time on the issuance of shares of stock to
purchasers becoming members. The said
shareS to be OF the value of twenty-five dol
lars each and no member shall at any time
own. or have any interest in. more than four
~ such shares, and no shares shall be issu-
ed to any person, except upon actual pay
ment in cash therefor No shareholder shall
nave more than one vote in conducting the
affairs of this association.
".
This association shall commence business
on the 3Oth day of July, A. d. 1903 and shall
terminate on the Both day of July, A. D.
1928.
The government. OF this association and
the management of it's affairs shall be vested
IN board of nine directors and the follow
ing officers: president, vice president treas
urer and secretary, who shall be elected on
the first Tuesday in July of each year, and
who shall hold their office until their sue
ceSsorS are elected and qualified. Vacan-
c!es may be filed by special election at any
time.
No one but members of this association shall |
be elected to any of the above offices. and |
until the next annual meeting the following
shall constitute the first board of directors: |
Andrew Stewart, David McNaughton, j. E. |
Holt, John Olson. Peter Mckay and John |
Kuck. The first officers, who shall hold |
their office until the next annual meeting. |
shall be D. R. McCorquodale president. g. |
Cafbert viCe-president. A. D. Mclean sec
rotary, and ]. A. Piersol treasurer.
VI
The officers of this association shall have
power to appoint general agent to trans
act business for and in the name of the as
ISOLATION, who shall act under the direction
and control OF such officers, and be appoint
Ed Tor such time as may be agreed upon be-
tween him and the officers.
VII.
This corporation shall at no time have or
bject itself to an Indebtedness exceeding
the amount of two-thirds of the shares of
stock actually paid up, as shown by the
books of the association.
VIII.
The private property of the members and
shall be exempt from all debts |
ii this corporation, except to the amount of |
The shares of stock held by each respective
y.
This corporation shall have power to Dor
row money from time to time, on the vote of |
-wo-th thirds of all the officers and directors |
1T any special or regular meeting, Provided
hat not more than two thousand dollars |
shall be borrowed, and the debt shall at no
lime exceed that amount. and the property |
)f the corporation, real or personal. may be
nortgaged to secure such sums borrowed,
x.
This corporation may at any time be dis
solved by vote of two-thirds of all the
,harehoders voting in favor of such disolu-
lion.
persons forming such corporation, are as
D. R. McCorquodale. Delhi Mimi
A. D. Mclean, Delhi MINI.
Andrew Stewart, Delhi. MINI.
David McNaughton, Delhi, MINI.
Carl Prodoehl, Floretta, MINI.
Hugh A. Stewart, Delhi, MINI.
], E. Moger, Redwood Falls, MINI.
Peter Mckay, Delhi, MINI.
Matthias Monson, Delhi MINI.
c. A. Kuske. Floretta MINI.
J. A. Piersol. Delhi, MINI.
Herman Kaiser, Delhi, MINI.
G. G. Adams, Delhi, MINI.
Fred Starr, Delhi, MINI.
S. w. Adsit, Delhi MINI.
Frank Wieske, Delhi, MINI.
John Kuck, Floretta, MINI.
Fred Holt, Delhi, MINI.
In witness whereof we have hereunto set
our hands and seals, this Goth day of July, |