Warren sheaf. [volume] (Warren, Marshall County, Minn.) 1880-current, 1908-09-10
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ARTICLES OF INTERPRETATION
of -.
AkvARADO FARMERS ELEVA-

TO- d1u 20 ne1eDy associate ourselves
together for the purpose of forming
corporation under and pursuant ia
the laws of the State Of Minnesota,
and 90 hereby agree upon and ADOPT
the following Articles of Incorpora-
tion. ;'I p, ;, -.
= ARTICLE I. -.
Inc name of this CORPORATION shall
be AlVarado Farmers Elevator Com
pany. and Its principal place of bust
ness shall be at Alvarado. in the
County OF Marshall. State of Mime
sofa. -
ARTICLE III.
The general nature Of it's business
shall be the construction: buying.
leasing: maintaining and operating
grain elevators. warehouses and feed
mills; buying. storing. selling and
handling all kinds of grains. cereals.
flour. feed, and other agricultural
products; buying and selling wood,
coal. livestock. lumber and building
materials. farm machinery and bind
ing Irvine; and also owing, selling.
leasing and mOrtgaging such real or
personal property as may be con-
venlent or desirable in order to
carry on the business of this corpo-
ration.
ARTICLE III. w.
Ihe time OF the commencement of
this corporation shall be the 18th
day OF August. 1908, and the period of
its duration shall be thirty years. -,
ARTICLE Nv.
The names and places Of residence
of the persons forming this corpora
tion are: Henry H. Oberg. Warren,
Minnesota: Henry Nelson. Warren.
Minnesota: Lars T. Rykken, Alvara-
do, Minnesota; Paul Paulson. Alvar-
ado. Minnesota; Heinrich Johanson,
Alvarado. Minnesota: Martin H..
Sands. Alvarando. Minnesota: and
liver N. LOdOen. Alvarado, Mime
sofa. -,
ARTICLE V. .&
The annual meeting of this corpor-
alton shall be held on the last Satur-
day in June of each and every year.
beginning with the last Saturday of
June. in the year one thousand nine
hundred nine. and shall be held at
such place as the acting board of
directors shall specify. -
ARTICLE VI. =
The government of this CORPORA
tion and the administration of it's
affairs shall. and are hereby, vested
in board of nine. (9) directors who
shall be elected annually by the
stockholders at the annual meeting.
Within three days after an annual
election of members to constitute
the board of directors of this corpo-
ration, such members shall forthwith
organize themselves for the due
transaction of the business of this
CORPORATION by electing from it's
own members. a president. a vice
president, a secretary and treas
urer. =
Anv vacancy occurring in such
Board of Directors, thru either
death. resignation. or removal. may
and shall forthwith be filled Ey the
remaining members Of such board by
majority vote thereof. and the
Ill such vacancy shall be directors
until the next annual stoek-holders'
meeting. but no longer..t
ARTICLE VII. "
The amountof the capital stock OF
this corporation shall be and is here
by fixed at the sum Of Ten Thousand
Dollars. and shall be paid in as called
for by the Board Of Directors. =
= RTICLE. VIII.
The number and amount of shares
of capital stock of this CORPORATION
shall be four hundred and the pal
value of each share shall be Twenty.
five Dollars. of which the sum OF
Five Thousand Dollars shall be paid
in before this corporation shall com:
mence business. :.
ARTICLE >'
ANY stakeholder desiring to sell OF
dispose of his stock in this corpora.
tion shall. before disposinq of the
same. notify the acting board Of
directors of@this corporations. which
said board of directors shall then
have the right for a period of ten
days from the date of such notitca.
tion. to select buyer of such stock
at not less than par value plus seven
| per cent per annum. to be based uD.
on the last annual balance-sheet.
In case of the failure of such board
of directors to make such selection
within said period Of ten DAYS. the
stakeholder desiring TO dispose of his
stock shall have a right to DISPOSE Of
his stock for a price equal to the
price submitted to the board OF
directors. and not Tess.
ARTICLE X. ...
The highest amount of indebted
ness to which this CORPORATION shall
be at anv time subject shall be the
sum of TWENTY Thousand Dollars.
ARTICLE XII.
The first board of directors of this
CORPORATION shah be COMPOSED Of
Henry H. Oberg. Warren. Mime
sofa Henry Nelson. Warren. Mime
sofa: Carl Quern. Oslo. Minnesota
Louis N. Smith. Alvarado. Mime
sofa: Lars T. Rvkken. Alvarado
Minnesota: Paul Paulson. Alvarado
, Minnesota: Henrick Johanson
Alvarado. Minnesota: Martin H
Sands. Alvarado. Minnesota. anc
liver n. Lodoen. Alvarado. Mime
sofa. who shall within three days
after the Incorporation of this com
pany meet and organize and elect
4 from their own members president
vice president, secretary and treas
urer, who shall hold office until thei
successors are elected and qualified
at the next annual meeting.
1 49,