The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1915-05-12

pay for twenty thousand dollars
!, (S20,000) Of preferred stock in this
company, said stock bearing eight per
cent 6 percent preferred cumulative
dividends, and being preferred in as
sets as well as dividends.
4. The proceeds of this twenty
thousand dollars (s2O,0OO) of prefer
red stock shall be deposited with Jno.
A. Dunlap, A. E. tombstone, C. ]. Bode
and r. A. French of Keokuk, Iowa, as
trustees, the whole amount thereof to
be held by said trustees until at least
twenty thousand dollars (S20 ,0OO) ad-
dftional stock has been sold, either
here or elsewhere, and which shall
be sold by the company by the 18th
day of July, 1915, and the proceeds
therefor paid into the company treas
ury, and, in addition nine thousand
dollars (s9.000) worth Of preferred
stock be bought and paid for in full
by the promoters. Messrs. Maclean,
Higbee, Sweetser and Beaver at same
price and with same bonus of common
stock as in sale of other preferred
stock as set forth herein. and said
amount paid into the treasury in cash.
When said stock is sold and paid for
the said corporation shall at once
proceed to the construction and equip
ment OF factory for the manufac-
ture of automobile tires and other
rubber goods, which factory shall be
located in the city of Keokuk, Iowa,
Or in Lee county. Iowa, INN ediately
contiguous to said city, and the said
twenty thousand dollars ($20,00O) first
subscribed by the citizens Of Keokuk
and vicinity, and held by the said
trustees, shall thereupon be paid out
on bills for building materials, equip.
ment, Or construction work in erect
ing said factory. and for such purposes
only and shall be paid only on order
of the Keokuk Industrial association
In event the construction of said fac
tory shall not b., started on Or before
the 18th day Of July, 1915, the said
amount held by the said trustees shall
upon demand be refunded by them to
the various stockholders contributing
thereto in the amounts SO contributed
Labor Agreement.
/. 5. The said company shall employ
at said factory at the start not less
than forty (4O) regular employees
and shall, within two (2) years from
said time, SO employ not less than one
hundred and twenty-five 025) EN-.
ploy.es. In event they shall fail to do
so, the land furnished them by the
Keokuk Industrial association shall
be reconveyed to said association
with the building thereon, or the said
land shall be purchased at said time
by the company from said associa ton.
G. The said twenty thousand dol.
lars (s20,O0O) preferred stock first
subscribed by the citizens of Keokuk
shall be free from any charge for
commissions for sale, Or any other
expense and shall be devoted in full
to the construction and equipping of
said factory. ~. 49,
Z. The basis upon which said first
twenty thousand dollars (S20.000) or
preferred stock is sold shall be that
said stock shall be sold at par, and
for each share of preferred stock pur-
chased the purchaser will also receive
one (1) share of common stock,
which has been issued under the laws
of the state of South Dakota. fully
paid up and worcestershire, the pre-
ferred stock not to participate in vot-
ing, but the common stock to have
such participation.
s. The stockholders residing in
Keokuk, Iowa, shall have the right to
have two ca directors upon the board
of seven CD directors, and there shall
be an office for said corporation locat-
ed at Keokuk; and such amendments
will be made to the articles of incor-
poration, or such changes made in the
organization of the company, as shall
permit the lawful carrying out of the
propositions hereinabove set forth.
Sole Manufacturing Plant.
9. The said company proposes to
continue the sale OF preferred stock
through an extended territory to the
largest possible number of automobile
r;r;r -