Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1914-02-05
Legal Notices
Notice of incorporation Of r. W. Racine

Notice Of incorporation Of r. w. Racine
Company.
Notice is hereby given that corpor-
alton for pecuniary profit, the name OK
| which is +. w. Racine Company, has
been organized under the laws OF the
state of Iowa, and that its principal
place of business is in the City of OF
tumwa, Wapello county, Iowa. The gem
eral nature OF the business to be trans
| acted by said corporation shall be that
OF carrying on and conducting general
merchandise business at such places,
within and without the state OF Iowa, az
may be determined by the board Of d.
| rectors, both at wholesale and retail,
and to operate stores for such business,
and for the purposes of its business to
| purchase, lease and otherwise acquire
real estate and personal property and
| to hold the same and to sell or lease all
| or any part OF its real or personal prop
| erty, and to do all such other acts and
| things as may be necessary or proper
In the operation OF its business.
| The authorized capital stock Of said
| corporation Is 100000 of which $4,000
Is preferred stock and $4,000 Is COM
mon stock and not less than 100 shares
amounting to $4,000 Of the preferred
| stock shall be subscribed and paid for,
before the corporation commences busi-
ness. The remaining capital stock shall
be sold at such times, in such amounts,
and at such prices, not less than par,
as shall be determined by the board OF
| directors, and each stakeholder Is en-
titled to purchase the same when issued
| in proportion to the stock he then holds
at the price fixed by the board Of d.
| rectors. and none of said stock shall be
| sold to any person not at the time OF
such sale stakeholder In said corpora
ton, until the then stockholders shall
have had an opportunity to purchase the
same in proportion to the amounts Of
their holdings at the same price, and
upon the same terms as It 10 proposed
to sell to others. The stock Of said corr
poration Is transferable in writing reg
ularly entered upon the books Of the
| corporation, but no stockholder shall
sell any Of his stock to any person not
a stakeholder in the corporation. until
he shall have first offered 1t to the per-
SINS who are then stockholders and
given them reasonable opportunity to
purchase the same at the same price, In
proportion to the holdings Of such Of
them as may elect to purchase, ana no
stock shall be transferred on tho books
Of the corporation until evidence Of
compliance with this provision II flled
with the secretary Of the corporation.
Said corporation commenced on the
| nth day Of November, 1918, and shall
terminate on November II. 1888. It's az
fairs are to be managed and conducted
by BOARD OF three directors, VINO shall
be elected at the annual meeting Of tho
stockholders to be held on the second
Tuesday In January in each year by
majority vote Of the stock present and
represented at such meeting, and shall
hold office for the term of one year, and
Until their successors are elected.
The officers shall consist Of presi-
dent, vice president. secretary and
| treasurer who shall be elected by the
board Of directors from among their
own number within five days after the
election Of directors in each year, and
the same person may be elected to hold
any two Of the offices. Until the an
nual meeting to be held In January
1914 Frank w. Racine shall be president,
D. C. Brockman vice president, Chas
l.. Graham secretary and r. w. Racine
treasurer, and the same persons shall
constitute the board Of directors.
The highest amount of indebtedness
to which said corporation ID at any
time to subject itself shall not exceed
two thirds (zA) Of the amount OF its
capital stock issued and outstanding.
The private property Of the stockhold-
erT is to be exempt from liability for
corporate debts and obligations.
II. w. Racine Company, by Frank w.
Racine, President
Attest: Chas. l.. Graham, secretary.