Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1905-10-18
NOTICE OF INCORPORATION OF
THE "MARsHALLToWN BUGGY
/ coMpANYn

cOMPANY."
To Whom 1t May Concern:
Notice is hereby given that the UNI
6ersigned 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
rs follows, to-wit:
a. The name of such corporation
Is the "MARSHALLTOWN BUGGY
COMPANY" and it's principal place of
business is Marshalltown, Iowa.
(2) The general nature of the bust
ness to be transacted by this corpora
tion 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 to
generally deal, at wholesale and retail,
IN buggies, wagons, carriages, carts
and vehicles of all kinds and descrip-
lions, and to manufacture and sell. at
wholesale and retail, such other arti-
eles and commodities of general use
and sale as may be determined upon from
time to time by the officers of said
corporation.
(3) The amount of the authorized
capital stock of this corporation is the
vum of one hundred fifty thousand
($15(, 100000 dollars, divided into six
hundred (600) shares. each of the par
Nalu,. of two hundred fifty (s25O.00)
dollars Not less than one hundred
thousand ($10o,oooo0) 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-
etior transacts business except the bus
lness incident to it's Organization.
Tie remainder of the AUTHORIZED cap
1tal stock of this corporation, viz:
Fifty thousand (s50,0o0.00) dollars. or
two hundred (200) shares, of two hun
dred fifty ($250.O0> 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
rs 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
er or holder thereof, until same is full,
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-
towing 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
ut Marshalltown, Iowa.
B. The Marshalltown Buggy Com
pany shall have an authorized capital
stock Of one hundred fifty thousand
(15D, 100000 dollars divided into six
hundred (600) shares, of two hundred
lafty ($250.00) dollars each.
G. OF said capital stock, one hundred
thousand (s100,0o0.OO) dollars to be
subscribed by w. o. Allen and his bss-
tness associates, and same is to be paid
for In cash at the time said stock Is
issued.
r. That the said Marsha,ltown pug
gy Company shall beconae the owner
OF the Rhoades-C Carmen Buggy Co.
plant and the real estate upon which
same is located; AMI taat the price to
be paid by said co -poration for said
plant is not osexceed the fair value cf
said plant when the factory is in
SSASSSN's'ASA :
Fl. That no payrent on said stock
subscription shall lie sue or payable
until the factory of said Marshalltown
Buggy Company begins operation and
engages In the actual manufacture
Of bssgies.
F.. That should said Marshalltown
Buggy Company at any time fail in
business or discontinue the actual
manufacture Of buggies, then all fur
cher liability of the subscribers for said
stock shall cease.
e. That said Treasury or Trustee
Stock subscribed for shall be paid for
by the subscriber at rate not ex-
for each and every week until the face
value of said share of stock. viz: two
hundred fifty ($25O.00) dollars, has
been. paid, and that there shall be no
interest on deferred payments.
FL. That the subscriber to stock
shall have none of the rights Of a
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.
j. That each subscriber has the OPP
ton. at the time he has paid in two
hundred fifty ($25o.o0) dollars, if he SO
elects. to treat all money paid in as a
donation to the Marshalltown Buggy
Company for the purpose of encourag-
ing the Manufacture of buggies in said
city, or instead of having issued to him
one a. paid UP share of stock.
K. That said Treasury Stock" or
sTrustee Stock" VIZ: two hundred
(200) shares. of two hundred fifty
($250.00) dollars each, shall be signed
and sealed, leaving the name Of the
proposed owner in blank, and delivered
to some bank of Marshalltown, Iowa,
and held by said bank in trust for the
.