Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1909-02-19
Articles Of Incorporation.

ARTICLE i.
The name OF the Incorporation II
The Farmers Elevator COMPANY and
its principal place Of business at
Laurel, Marshall county, Iowa.
ARTICLE H.
The general nature of the business
shall consist In buying, selling and
dealing in all kinds of farm and dairy
products, cattle, swine, sheep, poultry.
and dry goods, boots and shoes, gro
ceries, hardware and farm machinery.
lumber, stone. brick ard all kinds of
building material, grS6A and real estate,
and dealing III all hindSsuf III p'siia;a =
disc, and in buying and selling all
property as aforesaid on commission
and otherwise.
ARTICLE III.
The capital stock authorized is ok
thousand dollars paid UP and may be
increased from time to time to an
amount not exceeding twenty Ave
thousand dollars and all in common
stock shall be paid for from time to
time on the issuance thereof to pur-
chaser. The said shares to be ten
dollars each, and no shareholder shall
at any time own or have any Interest
in more than ten such shares, and
no shares shall be issued to any
one except upon actual payment In
cash therefor or by note of the pur-
chaser with security approved by the
officers and directors. and such note
must be made due and payable In time
not exceeding sixty days and draw In
terest at 6 per cent. No SHAREHOLDERS
shall have more than one vote IN con-
Quoting the affairs Of the company,
ARTICLE ~.
This corporation shall commences On
the 1st day of March, 1909, and termi-
nate on the list day of March, 1923.
unless sooner terminated as provided
by article 9 hereof.
ARTICLE v.
The affairs Of the corporation shall
be conducted by the following officers,
after their election and qualification,
to-wit: a president, vice president. sec
rotary treasurer and five directors.
who shall be elected on the second
Saturday of March Of each year, and
vacancies may be Allied by special cleo
ton at anytime. None but stockhold-
ers shall be officers; and until the
annual meeting in March 1909 the fol-
lowing persons shall be the officers Of
this company, viz: President, j. w.
Wells; Vice President, Peter Lukes;
Secretary, F.. H. McBroom; Treasurer.
George Putnam; Directors, Patrick
Laverty, Thomas Sheek, William
Wylie, Fred West and r. E L. Mann.
ARTICLE vi.
This corporation shall at no time boz
come indebted in greater sum than
two-thirds of the capital stock actually
paid up as shown by the books Of the
company, and the property, real and
personal, of the corporation may be
mortgaged to secure money borrowed.
ARTICLE VII.
The private property OF the stock
holders of this corporation shall be
exempt from payment Of corporate
debts, except to an amount equal to ,
their respective shares, and this article
shall not be altered or amended. 4
ARTICLE VIII.
The officers Of this corporation shall
have power to appoint a general man
ager. who shall act under the direction h
and control of such officers and may
be appointed for such time as agreed
upon between him and such officers.
ARTICLE TX. Il
This corporation may be at any time
dissolved by the vote Of two-thirds off
all the shareholders voting in favor Off
such dissolution.
Signed: ]. w. 'WtslALS.
PETER LUKES.
F. II. McBRoQM.
GEORGE PUTNAM.
PATNIC1lsIaAvENEE
THOMAS SHEEK.
WILLIAM wYx1
FRED WEST,
h,1 L--GAo19