Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1905-10-11
NOTICE OF INCORPORATION OF
THE "MARSHALLToWN BUGGY
COMPANY"

CoMPANY."
To Whom 1t May Concern:
Notice Is hereby given that the I'M
dersigned have associated themselves
together under and by virtue of Chap
ter One. Title Nine, of the Code Of
Iowa, and the law amendatory there
to, as corporation, and have adopted
articles of incorporation which provide
as follows, to-wit:
"a The name Of such corporation
is the "MARSHALLTOWN BUGGY
COMPANY" and Its principal place OF
business is Marshalltown, Iowa.
(2) The general nature of the bust
ness to be transacted by this corpora
ton shall be to carry on the business
of manufacturers and dealers in bug
gies and buggy sundries; to manufac-
ture, buy, sell, export, import and ia
generally deal, at wholesale and retail,
in buggies. wagons, carriages, carts
and vehicles of all kinds and descrip-
tons, and to manufacture and sell, at
Wholesale and retail such other arti-
cles and commodities of general use
and sale as may be determined upon from
time to time by the officers of said
corporation.
ca The amount OF the authorized
capital stock of this corporation is the
sum Of one hundred fifty thousand
(s15O, 000.OO) dollars, divided into six
hundred 5000 shares. each of the par
value of two hundred fifty ($25000)
dollars Not less than one hundred
thousand (s1O0.00o.00) dollars OF the
capital stock of this corporation shall
be paid in in cash, or in property at
its fair value, when its factory is in
Successful operation, before the corpor-
alton transacts business except the bus
mess incident to its organization.
The remainder Of the authorized caps
ital stock of this corporation. viz:
Fifty thousand ($5O.Ooo.00) dollars, or
two hundred (200> shares, of two hun-
dred fifty ($,50o0) dollars each. is to
be, and be designated as, Treasury
Stock" or Trustee Stock"
Said Treasury Stock" or Trustee
Stock is not to be issued or treated
as issued. nor is same to be voted at
any stockholders meeting, or be of any
force, validity or effect, as stock, nor
shall any person be treated as the own
err or holder thereof, until same is ful-
ly paid for. and the certificate delivered
to the person entitled thereto as here
in provided.
The said Treasury or Trustee
Stock is subscribed for under the fol-
lowing terms and conditions, viz:
A. The said Marshalltown Buggy
Company shall be incorporated under
the laws of the State of Iowa, with its
Offices and principal place Of business
at Marshalltown,. Iowa.
B. The Marshalltown Buggy Com
pany shall have an authorized capital
stock. of one hundred fifty thousand
q5o,0o0.00) dollars, divided into six
hundred (600) shares, Of two hundred
fifty ($25o.00) dollars each.
c.. OF said capital stock, one hundred
thousand ($100.o0o.0o) dollars to be
subscribed by W. O. Allen and his bus
mess associates and same is to be paid
for in cash at the time said stock is
issued.
D. That the said Marsha!ltown Dug
gy Company shall become the owner
Of the Rhoades-Carmeal Buggy Co.
plant and the real estate upon which
same is located; AMI taat the price to
be paid by said corporation for said
plant Is not to exceed the fair value Ct
said plant when the factory is in
successful operation.
E. That no payment on said stock
subscription shall Es due or payable
until the factory Of said Marshalltown
Buggy Company begins operation and
engages in the actual manufacture
of hLsg'es.
F. That should said Marshalltown
Din OF fou IN,
business or discontinue the actual
manufacture Of buggies, then all fur
Their liability Of the subscribers for said
stock shall cease.
g. That said Treasury or Trustee
Stock" subscribed for shall be paid for
by the subscriber at rate not ex-
ceeding one ($1.00) dollar per week
for each and every week until the face
value Of said share Of stock, viz: two
hundred Atty ($250.00) dollars, has
been paid, and that there shall be no
interest on deferred payments.
III. That the subscriber to stock
shall have none of the rights Of
stockholder until said stock is fully
paid up and issued to him as herein
provided.
I. That there shall be paid by the
Marshalltown Buggy Cimpany to the
trustee herein designated, such share
Of the net earnings of the company as
shall be in proportion to the amount
paid into said trustees hands by said
subscribers at the time the annual
dividend is declared. That is, in the
division Of net earnings, said trustee
shall be treated by this corporation,
for the purpose Of dividends, as the
holder Of paid up stock to the extent
of the amount actually paid in cash
into the trustees hands.
Said amount Of net earnings shall be
distributed by the trustee among the
various shares Of stock in proportion
to the payments made upon same by
the subscribers. q
]. That each subscriber has the OPP
ton, at the time he has paid in two
hundred fifty ($250.0O) dollars. if he so
elects. to treat all money paid in as q
donation to the Marshalltown Buggy
Company for the purpose Of encourage
ing the manufacture Of bugsies in said
city, or instead Of having issued to him
one a. paid up share Of stock.
K That said Treasury Stock" or
Trustee. Stock" viz: two hundred
(20o) shares Of two hundred fifty
($250.0o) dollars each, shall be signed
and sealed. leaving the name Of the
owner in blank, and delivered
to some bank OF Narsha!ltown, lows,
and held by said bank in trust for the
for said Treasury or Trustee
Stock" That said bank is to credit