Manchester Democrat. [volume] (Manchester, Iowa) 1875-1930, 1914-03-04

= exempt from corporate debts.
| IN ARTICLE VII.
), The aggregate amount of indebted
ness fthis corporation shall att NJ
: time exceed two-thirds of the amour
Of the capital stock then issued.
4 ARTICLE VIII.
/ The affairs of this corporation
shall be conducted by board o.
J. eleven directors, or such other mum
Der not fewer than three as may BIZ
determined by the, stockholders by
resolution or bylaw. The board Of
directors shall elect from their mum
Der a president and a first and 8
second vice president and shall also
elect a secretary and treasurer
who may be, the same person, Meth
or of whom need be stakeholder
The board Of directors shall have
power to appoint and employ al
such officers, agents and employees
of the corporation as it may deem
necessary for the transaction Of its
business, comforting on each author
ity and power as the board may
deem proper and necessary. The
board Of directors or the executive
compensation of all officers, agents
| ~ SAARANy Geo VI I1O WI QOANIAOA 41lu
provide by bylaw or resolution there
for and empower the different Off
GERS to engage employees and as
sistants for transacting the business
of the corporation. The board Of
directors may also delegate any or
all Of its powers to an executive
committee of not fewer than three
OF Its members, and such powers,
when exercised by such executive
committee shall have the same force
and effect as though exercised by
the board Of directors, .H,z..
The board Of directors or the ex-
ecutive committee may specially auth
orlze any person or corporation to
hold in his or its own name or in
his or its own name as trustee, in
trust for this corporation, the title
to any realty, mortgages, notes, Sc
curlties. or other property owned by
this corporation, or any interest
owned by it in any such property,
and to authorize such persons orr
corporation to contract for the
sale of such property and to convey
the title thereto on the order Of the
board Of directors or OF the executive
committee, providing however, that
the stockholders of this corporation |
may at any annual meeting or spe-
cial meeting duly called for that |
purpose by two.thirds OF the stock
present and voting, limit, define or
prohibit such delegation Of power by |
its directors or executive committee. |
ARTICLE TX.
All instruments affecting the title |
to any, real estate or any interest
therein, and all instruments which |
may be required to be, or may be i
entitled to be made matter of record,
shall have the corporate seal affix-
ed thereto, and shall be executed for
and on behalf Of the corporation by
the president and secretary or
the president and treasurer thereof.
All notes and bonds of the corpora
ton shall be executed in the name
Of the corporation by the president
and secretary or the president and
treasurer as such officers of the
Certificates of stock
shall be executed in the name of the
corporation by the president and be
attested by the secretary or the
treasurer. All checks and drafts
shall be signed by the president or
the secretary or the treasurer. Aid
other contracts or agreements or
with reference to the tran
saction of business Of the corpora
ton shall be executed by the presi-
lent or secretary or treasurer, in
The name Of the corporation, or by a
special agent Of said corporation,
whose powers and authority shall be
1ehhed by resolution Of the board of
directors or executive committee
ARTICLE x. 500
!. The directors OF this corporation
shall be elected annually by !. the
stockholders at the annual meeting, ,
Ind shall hold office until their sue
'essors are duly elected and quail ;
led. The directors and officers of
he corporation who shall hold Of
ice until the annual meeting here
n provided for in A. D., 1914, and
Until their successors are elected and
Qualified, shall be as follows:
The board Of directors shall con-
list Of: an.
J. H. Trewin, Cedar Rapids, Iowa.
Geo. w. Durham, Manchester,
owa.
4 Charles E: Ransier, Waterloo, Iowa.
"A. M. Cloud, Manchester, Iowa.
Robert Barr, Manchester, Iowa.
F.. g. NAPLES, Manchester, Iowa.
w. NJ Wolcott, Manchester, Iowa.
III. E. Henderson, Manchester,
owa.
E. G. Perkins, Delhi, Iowa. Ii
c. r. Weir, Manchester, Iowa. L
The officers shall be: II
President, A. NJ. Cloud, Manches- L
er, Iowa.
First vice president, J.. H. Trewin,
;edar Rapids, Iowa. @
: Second vice president, ]. F.. Ora
lam, Manchester, Iowa.
Secretary. F. c. NAPLES, Manches-
Treasurer, H. E. Henderson, Man
chester, Iowa.
Each director must be stock
lolder, and in case any director shall
dispose of his stock in this corpora
ion his office shall become vacant.
The directors shall have the right to
i'll all vacancies on the board be-
ween annual elections by appoint
nent from among the stockholders.
al. ARTICLE XII. sG --.
At all meetings of the stockhold-
'rs, each stockholder shall be entitled ,
o one vote for each share of stock
leld by him, which may be cast by
he stakeholder in person or any one },
folding his written proxy.
"a ARTICLE XII. .s.'
!. The board Of directors of this cor
,oration may adopt bylaws, defin-
ng the powers and duties Of the
,fficers and agents of the corpora
ion and executive committee, pre-
'cribing rules for the government of
he affairs of the corporation, sub
ect however, to- the approval of the
folders Of two-thirds of the stock
ssued, but such bylaws shall not
)e in conflict with the laws of this
'tate or these articles of incorpora-
ion.
ARTICLE XIII. L.
This corporation shall have cor
lnrato soal 11n0n which. shall annaar