The Virginia enterprise. [volume] (Virginia, St. Louis County, Minn.) 1893-19??, 1907-07-12
Adopt Articles of incarceration.

6uOpt ~ tsIs0S " SuCOtQOr6t6O0s
The proposed COOPERATIVE Meat
Market company, mention of which
was made in our last issue, at a
meeting at the Finnish Temper
ance Hall adopted the following
articles for the incorporation and
government OF the new institution:
l. The name of the organization
shall be the Virginia Cooperative
Meat Market.
2. The headquarters of the or
ganization shall be the city of Vir.
ginia, in the county of St. Louis
and State of Minnesota.
3. The principal purposes of the
organization shall be the purchase
of live stock of any name or nature
for food, the erection of feeding
barns, slaughter houses, and the
utilization of all legitimate means
in the conduct of general meat
business.
4. The capital stock of the or
organization shall be $4,000 divided
into $500 shares of $40 each.
5. The amount of $4,000 shall be
paid in full to the treasurer before
said organization shall engage in
active business.
6. Each stock holder shall have
the right to hold fifty shares or less
of the capital stock, but shall have
only one vote regardless of the
number of shares he may own in
such organization.
Z. Interest on the capital stock
OF such organization, not to exceed
seven per cent shall be paid first on
said capital stock from net earn.
ings.
8. Ten per cent of the net earn.
ings shall be transferred into the
surplus fund of said organization
for special purposes.
9. The balanice of the net earn.
ings shall be divided pro rata to
each purchaser in new stock until
the capital stock of $4,000 shall
have been fully paid in to said or.
ganization.
10. This organization shall have
an annual meeting which shall be
held on the second Monday in Ian.
uary, and semi.annual meetings
which shall be held on the second
Monday in each year, for the cleo.
ton of officers and the transaction
of such other business as may come
before the body.
IL. Special meetings of the or.
ganization may be held at any time
by the order OF the board of dir.
ectors.
H. The officers of the organiza.
ton in each and every case shall be
chosen by ballot, when such cleo.
ton becomes necessary.
H. The management of the af.
fairs of the organization shall be
vested in board of nine directors,
why will choose from among their
number of officers of such organiza.
ton.
IL. The members of the board of
directors shall be liable, one for all
and all for one, to the organization
for all the property and for all bust.
ness transactions of whatever ma.
ture, and shall hold until their sue.
cessors have been duly elected and
qualified.
Is. Any disagreements among
the stockholders shall be settled BY
arbitration; in which case the
arbiters shall be elected at a legal
meeting of the organization.
10. The interest for all money in
vested in the capital stock of the
organization or for borrowed money
shall be regulated by the board of
directors.
II. The bylaws of the organiza.
ton shall be approved by a MAORI
ty vote of all stockholders, at a
legal meeting of such organiza.
ton.
18. These articles or any part
thereof may be amended at anv
annual or semi.annual meeting bv
a two-thirds vote of all stock-hold-
ers.
10. The indebtedness of this or.
ganization shall not at any time ex.
coed the sum of $4,000.
20. This organization shall be in
corporated for the term of twenty.
five years from the date of it's in.
corporation.
The committee in charge of the
sale of stock in such organization is
this week soliciting subscriptions
to the capital stock, and another
meeting for formal organization
will be held at the Finnish TEN.
perance Hall on Monday evening
next, at which report of progress
made will be fled and action taken
toward perfecting permanent or.
ganization if stock subscription
s.. &. :. XXI (. IL !.