The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1909-11-17

ARTICLE V.-The amount of the author
lied capital stock of this corporation is the
sum Of Twenty five Thousand Dollars (s25O0Oj
divided into two hundred and fifty shares
CSoW each share Of the par value of One Hun
area Dollars S1OO.) The capital stock Of this
corporation may be subscribed and paid for
by individuals or corporation doing like
business. and shall be subscribed and paid
for at It's par, value. either in money or
property. said payments to be made from
time to time as the Board of Directors may
direct and no stock shall be issued as paid
up STOCK at less than its par value, and this
corporation shall be authorized to commence
business when ten per cent of it's capital
stock has been subscribed for.
ARTICLE VI.-This corporation shall COM
18th of November. A; D 1909 and shall con-
tinue for the term Of thirty years thereafter
Wit with the right of renewal. as provided by
less "a an tWO-thlrds OF the stock then out
ARTICLE VII-The affairs of this cor
less Is; than three no more than five directors.
Within said limits. the number of directors
may may be fixed by, the Stockholders at any
eegIlh ar, or special meetnG until otherwise
nAeu Dy the stockholders. the board Of direct
81 all consist OF three members. The board of
directors shall have general charge of the
business and affairs of this corporation, and
all or the powers of this corporation are
vested In its board Of directors. except as
otherWise provided by law, or by the bylaws
OF this corporation. and subject to such
ASoG1 lCCliiS odlu pOWclS DIS may D6
taken from time to time by the stockholders
either at an annual or at a special meeting
duly called therefore. The directors of this
may in writing authorize others to act for
them. as their proxies. at any meeting or
meetings Of it's board Of directors provided.
poration may at any time limit. restrict. or
prohibit such delegation of power by it's
directors. and while SO limited or restricted
SAID power sh all only be delegated pursu ant
TO SuCl limit atlOnS restrictions. and if so
prohibited, it shall not be delegated during
the continuance Of such prohibition.
poration shall be president. vice president.
secretary and treasurer. The directors may
appoint cashier and executive committee
ana snch other GcerS as the
All officers and directors Of this corporation
shall hold office for one year. or until their
successors are chosen and qualified and any
directors. may be filed by the remaining
directors until the successor Of the
eacsd v the of
an annual or special meeting, and has duly
qualified.
this corporation shall be elected at the annual
meeting of the stockholders. which shall be
held on the second Tuesday Of January in
each year commencing with the year A. D.
1911 at the principal office Of the company. at
such hour as may be fixed by the directors or
by the bylaws. The, officers Of this corpora
tion shall be chosen by the directors at the
be held each year Immediately after the
annual meeting Of the, stockholders Until
the annual meeting of the stockholders. in
are chosen and qualified W. G. Church, resi-
dence Des Moines, Iowa. f. L. Townsend.
residence pes Moines: Iowa. RICHARD Leet.
tute the board Of directors of this corpora
ton. and it's officers shall be W. G. Church
president. general manager and treasurer.
r. L. Townsend. vice-president, Richard
ARTICLE X.-Special meeting of the stock
holders may be called at any time by, the
notice by registered letters addressed to the
last known address of each stakeholder. which
notice shall state the object Of the meeting.
and no business shall be transacted by such
meeting except such as it mentioned in the
notice.
ARTICLE XI;.-:Each director shall be a
be- he shall forthWth by
virtue of the fact. cease to be director.
Two or more offices may be held by the same
pesfeF at TIE S Sane Tine s maat3nss Of the
stockholders. each stakeholder shall be
entitled to one vote for each share of stock
held by him. which votes may be cast either
ARTICLE XIII.-The highest amount of
indebtedness to which this corporate shall
not in excess of two-thirds of the capital stock
then issued and outstanding
ARTICLE XIV.-The private property Of
the stock holders of this corporation shall be
exempt from corporate debts,
ARTICLE XV.-These articles may be
ammended at any annual meeting OF the
or at any special meeting called
for that purpose. but no such amendment
shall be made without the affirmative vote
in it's favor of majotit of the shares Of
stock then outstanding.
ARTICLE XVI.-The board of directors
are authorized to adopt such bylaws as they
may deem eXpedient for the further govern
ment Of this corporation. not inconsistent
with the provisions hereof.
In witness whereof we have hereunto sub
scribed our names on this 10Th day of October
A. D. 1909.
W. A. CHURCH.
F. L. TOWNSEND,