The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-02-17
ARTICLES OF INCORPORATION
KEkRsARGE LAND COMPANY.


We, the undersigned, for the purpose of form
ing a corporation under and pursuant to the
provisions Of Title Of Chapter 3d. general
atory thereof, do hereby associate ourselves as
body corporate, and do hereby adopt the follow |
ing articles Of incorporation:/
The name of this corporation shall be the
''Kearsarge Land Company"
the buying, owning, exploring and developing,
leasing, improving, selling and dealing In lands,
tenements and Entertainments, and the doing OF
all things necessary or incidental to the things
The principal place Of transacting said bust.
shall be at the city of IN
The time for the commencement OF this cor
poration shall be the twentieth day OF February.
AID 1906, and the period Of continuance OF
this corporation shall be thirty (3O) years.
ARTICLE III. -
The of the sS
sand Dollars ($10S, 0oo), which shall be paid IN
! in money or property in such manner and at
time to time direct.
The highest amount Of indebtedness or ha-
bility to which this corporation shall at any
time be subject shall be the sum of One Hun
dred Thousand Dollars nT;, $4,000 q . -
The names and Ah places Of + residence of the
| persons forming this association for incorpora-
| tion shall be ohm NJ Longyear Of Marquette
county fssd P1abrf OF
O. Gale and Carleton O. Pillsbury, all OF Mime
apolis, Minnesota.
! The names of the first board Of directors of
said corporation are John NJ Longyear, Russell
NJ Bennett, Edmund J. Longyear, Norman c.
bury, Charles s. Pillsbury, Edward c. Gale,
Carleton G. Pillsbury and Frank H. Carleton The
first president shall be the said Alfred F. Pills
bdry. The first vice president shall be the said
Frank H. Carleton The first secretary and
treasurer shall be the said Russell NJ. Bennett:
The government Of this corporation and the
management of its affairs shall be vested in a
board Of ten directors and in a president, vice
president, secretary and treasurer and such other
officers and agents as may De IRON e 10 sadG
directors and OFFICERS above-pamed shall hold
their respective offices until the first Tuesday OF
December, 1906, at which time, and on every
| a board Of ten directors shall be elected by the
stockholders of said corporation at an annual
meeting Of said stockholders to be held at the
office Of the corporation in the city Of Mime
apolis, or such other place as the board of direct
ors may direct. Immediately after the election
Of the directors, or as soon thereafter as prac
ticable the directors shall meet and elect from
their number or from the stockholders of the cor
president vice president 81 4 secret
directors or any stakeholder Of the corporation
may fill any two Of said offices. except that O
president and vice president, which OFFICES shall
not be filled by the same person. The director
! and officers of this corporation shall hold the1
respective offices until their successors have beel
duly elected and shall enter upon their duties
In case Of a vacancy in the board of director
on account Of death, resignation or removal,
special meeting Of the stockholders shall b
new director elected to fill such vacancy il
the manner hereinafter provided: In case Of
vacancy in the office of president vice president
secretary or treasurer, caused by death, resigna
| tion or removal, the directors Of said corpora
tion, when the board Of directors is filled as here
4 inabove provided shall fill such vacancy Regu
r IL, C,,1~ orn me ~
4 stockholders may be held at such times and undo
4 such rules as may be prescribed by the bylaw
! Of such corporation but the first meetings
said corpora shall be held at the office Of til
" corporation in the city Of Minneapolis, MINI,
NJ sota,- Ion the second Tuesday of May, AID. 1s0'
N at ten and eleven O'Clock in the forenoon. n
NJ spectively. Any director may be represented s
any meeting Of the board Of directors by proz
if the stockholders of this corporation sha
authorize such representation by bylaw.
+ -. ARTICLE VII.
N The capital stock Of this, corporation sha
NJ he divided into two thousand one hundred ar
NJ sixty (2,1e0) shares Of Fifty Dollars (s5t
M each. .- :.
No sale, assignment, transfer, hypothecatio
IL pledge or other disposition Of any stock in tn
1t, corporation, shall be valid effectual for al
purpose. until there has first been endors,
n. such saleq assignment, transfer, hypothecatio
>, pledge or other disposition, the approval or co
% sent Of majority Of the Board Of Directo
90 Of such corporation, sitting Board to su
N sale, assignment, transfer, hypotheeation pied
e. e. | or other disposition. -.
20 SIE-51a0z ARTICLE TX.
% No mining lease any interest therein own
by the corporation, shall ever be hypothecate
sold, assigned transferred nor shall a
Va real estate any interest therein owned
Ia this corporation, ever be mortgaged. sold, &C
es veyed or leased for period longer than o
4, year, except upon the affirmative vote of
OF holders Of seventy-fve per cent (75 per Ger
no Of the shares Of the capital stock of the Ct
It; poration actually issued and outstanding, Civ
er at a regular or special meeting Of the stoe
NO holders
ne ARTICLE K.
- The title to the properties belonging to Il
az corporation having been, prior to the trans1
IS. thereof to the corporal ton. vested in yarie
~ persons owning, respectively, different undivfd
IT, interests therein, and such owners having be-
xy at the time of such transfer to the corpo
d. tion, divided into two general classes, tow
~. the heirs at law, assigns, and devisees
yer George A. Pillsbury, and Margaret s.. FL
A. Pillsbury, his wife, and John s. Pillsbu
all deceased, constituting the class known
ad.' 1.-THE Pillsbury Heirs" who owned collecti
" lly an equal one-half part Of all said properti
and Russell NJ Bennett and John NJ. Iongye
constituting the other of said classes, who owl
- as tenants In common the other undivided o
or half of all said properties; and this corpo
-, - ton having been formed, by mutual agr
ca | ment of all said owners of both classes.
AZ the more convenient handling, improyeme
81 development and disposition of said prof.
tbe ties. and it being the desire and intention
l.o1lR. hat an VoicQ In