Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1906-05-09
ARTICLES OF INCORPORATION OF the
WILLMAR STRAW BOARD MANU-.
Featuring COMPANY.

KNOW ALL MEN BY THESE PRESENTS, that
we, the undersigned, hereby associate our
selves together for the purpose of forming
SO Of the Revised Laws Of Minnesota of
1905, and hereby adopt and sign the follow
ing articles of incorporation:
The name ofthis corporation shall be 1.-The
pany."
This corporation is organized solely for
manufacturing purposes: The general ma
ture Of it's business shall be the manufacture
OF straw board and other like products, to
own, hold and use Letters Patent or trade
arks pertaining to such articles as by it
are so manufactured, to sell and market said
form any and all other acts and things neces-
sary for or incident to the carrying on of the
said manufacturing business.
III.
The principal place of transacting the bust
ness Of said corporation and it's head office
shall be in the City of Wilmar, County of
Kandiyohi and State Of Minnesota.
The time of the commencement of the said
corporation shall be the 18th day of May A.
thirty years thereafter.
The amount Of the capital stock of said
corporation shall be three hundred thousand
$500. OUO) dollars, which shall be divided
ferred stock at ten oslo. 90 dollars per share
and fifteen thousand (15.0O0) shares of COM
mon stock at ten ($10.o o) dollars per share,
paid in as the board of directors shall from
time to time determine and direct. Both
common and preferred stock shall be non
assessable. The said preferred stock shall
out of the net earnings yearly non-cumula-
tive dividend Of not exceeding seven per cent,
payable annually before any dividend shall
be set apart paid on the common stock.
Common stock and preferred stock shall
share equally in any dividends declared after
seven per cent shall have been declared and
paid On both common and preferred stock.
vi.
The highest amount of indebtedness or liza
bility to which the said corporation shall at
any time be subject shall be the sum of one
hundred and fifty thousand ($15O,o 100000
dollars.
The names and places Of residence of the
persons forming this corporation are Pieter
Prins, E. G: Wellin, Erick Holt, Gudmund P.
karwan m ~ vi Se E. LAWSON and A. H: sper-
diyohi and State of Minnesota, and A. ].
Prins of the Village of Clara City, county Of
Chippewa. state of Minnesota.
The government Of the said corporation
and the management of it's affairs shall be
vested in board Of seven directors who
shall have the power to make all bylaws
government of the said corporation and for
the conducting of its business and who shall
be elected by the stockholders at their annual
meeting which shall be held at the principal
Office Of the said corporation on the first
Monday in June OF each and every year be:
ginning with the year A. D. 1907, and shall
their successors are elected and have quail
fed. The officers of the said corporation
shall be, president, first vice president, a
treasurer. The said officers shall be elected
by the board of directors at the first regular
meeting Of the said board after the annual
number. The said board of directors shall
have the power to create and fill such other
Offices as they shall deem necessary and
of the business of the said corporation The
said officers shall hold office for one year or
until their successors are elected and quail
of directors or in any ofthe said offices Of the
corporation may be filled by the board of
directors or the remaining members thereof
date receiving the highest number "a" Of VOTES Votes
shall be declared elected Each and every
holder of either the preferred or common
either in person or by written proxy, to cast
one vote for each and every share Of stock
which he holds or owns The first board of
directors shall be PETER Prins, E. G: Welin,
Erick Holt, Gudmund P. karwand, A. H:
Sperry, Victor E. Lawson and A. ]. Prins, OF
whom E. G. Wellin shall be president, Pieter
prlnS shall be hrSt vice president, Erick Holt
shall be second vice presidvnt, Victor Il.
Lawson shall be secretary and A. ]. Prins
shall be treasurer, and they shall hold Office
until the first annual meeting of the stock
holders until their successors are elected
and have qualified.
IN WITNESS WHEREOF, the undersigned
have hereunto set their hands and seals this
End day of May, A. d. 1906.
PETER PRINS, (Seal)
VICTOR E. LAWSON, (Sea1.)
A. H. SPERRY, tSeal.j
A. ]. PRINS, (Sea1)
E. G. WELLIN, (Seal.)
ER1CK HOLT, (Sea1)
G. P. KARWAND, (Sea1)
Signed, sealed and delivered in presence OF
r. w. STANFORD,
r. G. BARTON.
STATE OF MINNESOTA
County of Kandiyohi.)
Be it known that on this End dav of Nav
A. u. 1906, before me, notary public in and
for Hennepin county said state personally
appeared PETER Prins, E. c. Weflin, Erick
Holt, Gudmund p. Karwand, Victor E. Law.
son, A. H: Sperry and A. J. Prins to me
known to be the persons who executed the
foregoing Articles Of Incorporation and each
of them acknowledged that he Executed the
same as his free act and deed.
RALPH w. STANFORD
Notary Public,
Hennepin County, MINI,