The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1907-03-01
ARTICLES OF INCORPORA TION
OF THE
.,ET MEDGA M fN(AMDA -

ARTICLES OF INCORPORAT ION
OF THE
ELY MERCAN III LIE COMPANY"
The undersigned for the purpose of
Incorporating as a private corpora
ton, under Chapter Fifty-eight, (58),
Revised Laws OF the State of Mime
sofa, 1905, do hereby adopt and sign
the following ARTICLES OF IN
CORPORATION.
ARTICLE /.
The name of such corporation shall
be, "ELY MERCANTILE COMPANY, y
and the general nature of its business
shah be buying, owning, selling and
dealing in goods, wares and merchant
disc of all descriptions, including
groceries. boots and shoes. crockeries.
and dry goods, aud all kinds of goods
aud supplies as are usually kept for
sale in general merchandise stores
when sold at retail
The principal place of business
shall, be at the City of Ely, ST. Louis
County. Minnesota.
ARTICLE, 2.
The time of commencement OF said
corporation shall be March 18th. 1907,
and the period of continuance Of same
shall Oe thirty years
ARTICLE. 3.
The amount of capital stock of said
corporation shall be twenty thousand
1920. OO0), dollars, and be divided into
four az. thousand shares of Five (5h
dollars each; twenty-five hundred
($2500), dollars Of which shall be paid
mo The treasury. before the com
mencement of business; all stock shall
be paid for in full at time of being
subscribed and may be issued at such
time or Times IA may be determined
blythe board of directors of such cor
pOration.
ARTICLE. 4.
The highest amount of Indebtedness
or liability To which said corporation
shall at any time be subject, shall be
two thousand $4,000, dollars,
ARTICLE. 5.
The names OF the persons forming
such corporation are, Matt MietIun-
ell. Charles PelJo, Peter Kauppl, Fri c
MarJLila, Emil Bjorkmau, Walter
Ajala, Frank Luhuaeala, David
jacobson. Ed. Harri, Tom Wiki, and
Yrio Lohomaki, and the residence of
all said persons is Ely, ST. Louis
County, Minnesota.
ARTICLE, 6.
The government Of The corporation
and the management OF its business
shall be vested in d board Of Eleven
directors, who shall be stock holders,
and who with the officers may employ
a manager for tile business outside of
the Stockholders; aud The officers Of
said corporation shall be d PRESI-
DENT, VICE-PREsIDENT, SECRETARY
AND treasurer, and they shall be
elected by The directors annually i'm
mediaLly after the annual election of
stakeholder, which elect SAID board of
directors.
The first board of directors shall
consist of the foregoing and named in
corporatOrs who shall hold Office until
The first annual meeting and unLli
their successors are elected and quail
fed; the officers Of SAID corporal zion
shall be as follows; Peter Kauppi,
President. Charles PelJO, Vice Presl-
dent, David JacoUsun, Secretary, and
Ed. Harri. Treasurer; who are 10 hold
office until the date of The first an
nual meeting of the corporation, aud
until their successors are elected and
qualified.
The annual meetings of said cOrpor-
alton are to be held on The first
Thursday in February of each year t
Eight (S). O'Clock IN the afternoon,
at the office of the Company at Ely.
Minnesota.
The board of directors of said cor
poration, shall be divided into three
classes, named respectfully: Glass One,
which shall be composed Of four mem
berS; Glass Two, which shall be COM
posed Of four members; and Glass
Three which shall be composed OF
three members; at The fist annual
meeting members Of the first class
shall be elected for the term of one
wear; of he second class FOL The term
of two years; and Of the third class
for the term of three years: and at
each subsequent annual meeting
thereafter, directors shall be elected
To fill the office of THAI class thai
shall then expire who shall hold Then
offices for the term of three years, and
until their successors are elected and
qualified.
In TESTIMONY. Whereof, we have
hereunto sat our hands and seals this
It'll day OF February, A. ID. 1907.
Signed. Sealed. and exc
cuted in presence of
A j THOMAS.
IRENE 1 HOMAS