The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-12-03
ARTICLES OF INCORPORATION OF THE MIN
NEsOTA POWER AND TROLLEY COM

PANY.
Know all men by these presents, That We the
undersigned, desiring to form and organize a
corporation under and pursuant to the general
laws of the state of Minnesota, do hereby assoc
ciate ourselves together as such corporation and
to that end adopt and sign the following Articles
of Incorporation. to tpT Tt; ,
The name of the corporation shall be the Min
nesota Power and Trolley Company, and the gen
eral nature of its business shall be to develop
and improve waterpower on the Mississippi
river and on other watercourses in the state
of Minnesota, to convert the same part thereof
into electrical energy, light, heat and other forms
Of energy, to convey. SELL lease and utilize such
manufacturing, transportation and commercial
purposes; to acquire, construct, own and operate
and convenient structures and appurtenances in
the state of Minnesota between such places and
upon such routes therein as the board of directors
may from time to time by resolution determine,
and to transport and carry freight and passengers
thereon. The principal place for transacting the
business of the corporation shall be the city of
Minneapolis, in the state of Minnesota.
ARTICLE IL.
The time of the commencement of the corpora
ton shall be the LIST day of December, 1903, and
the period of it's continuance shall be fifty (50)
years thereafter. pm1c1n -,
The amount of the capital stock of the corpora
ton shall be five hundred thousand 600 oo)
! times and in such installments the board
of directors shall determine.
ARTICLE ".
The highest amount of Indebtedness or liability
| to which the corporation shall at any time be
subject is two million q, 600, O0O) dollars.
ARTICLE V.
| The names and places of residence of the per-
/ sons forming this association for incorporation
are as follows: Charles o. straub. Charles f.
Stremel, Joseph L. kiichIi and Matthias Schulen-
berg, who all reside at the city of Minneapolis
| in the state of Minnesota, and Charles j. Swan
son. who resides in the town of Fridley in the
county Of Anoka in said state.
| ARTICLE VI.
The government of the corporation and the
management of its affairs shall be vested in
board of directors consisting of five persons, and
| such other officers and agents as such board of
| directors may elect or appoint. Said board of
directors shall elect from among their number
| a president and ce-president of said corpora
| ton. They shall also elect appoint secre-
! tary and treasurer thereof, and may from time
| as they shall deem necessary for the carrying on
| of the business of the corpora ton. The office
| OF secretary and treasurer may be held by the
! same person. The directors shall be elected an
nually by the stockholders and all other officers
] shall be elected annually by the board of di-
/ ers of the corporation for the election of di-
! rectors and for the transaction of such bust
\ ness as may come before it shall be held on the
| first Tuesday in July of each year. IT, for any
reason there shall be failure to elect directors
| at the time appointed therefor. such directors
! stockholders thereafter held, or at any special
meeting of the stockholders thereafter called
that purpose. The directors shall hold their
i Offices until their successors are elected, and
1 vacancies on the board of directors may be filed
/ by the remaining members of the board the di-
i rectors appointed to hold until the next cleo
/ ton of directors by the stockholders
| The directors may establish bylaws regulating
i the manner of calling and conducting meetings
aud all matters deemed necessary for the good