Cresco plain dealer. (Cresco, Howard County, Iowa) 1913-1945, 1916-11-03

manufacturing or mechanical business: (d)
the buying, owning leasing, using, holding,
incumbering, selling and conveying by the
necessary instruments In writing, OF real
estate to such extent and In such quantities
a. may be deemed necessary OF advantage
ops for the furtherance Of the general pur.
poses Of this: Corpor alton; te) the:.owning,
erecting, leasing buying, incumbering, sell
ing, and conveying by proper instruments
Of conveyance, OF warehouses, sheds, stores
store.rooms, cold-storage plants, Offices, fac.
tories, stock.yards, elevators, water supply
system, and any and all buildings. access
cries and equipment of every kind and
nature deemed necessary or convenient In
the conducting OF the business and pro
motion Of the welfare of this Corporations; ~
the making, manufacturing, jobbing, stor.
Ing, shipping. buying, selling, receiving,
handling and selling on commission, can
ming, pickling and preserving. OF any and
AL articles produced, manufactured, used,
kept for sale, bought, sold, handled. on com
mission or otherwise by farmers, merchants,
manufacturers, jobbers, dairy men, COM
missionlmen, fuel dealers, lumber dealers,
and merchants Of every kind and descrip-
ton lawfully authorized to conduct business
in the State of Iowa; (g) the purchasing,
owning, erecting, leasing, equipping, oper-
ating. incumbering, selling, and conveying
OF mills, factories, manufacturing plants,
canning, preserving, picking, packing, and
slaughtering establishments and all appur-
tenances and accessories thereof, and the
purchasing, installing, leasing. lncumbef-
ing, selling land conveying Of any and all
machinery and equipment, us-ful, con.
venient, or necessary In the establishing.
operating. and conducting Of any or all
forms Of business herein authorized, or any
other business incidental thereto.
ARTICLE Nv.
The Corporation shall have ALI powers
necessary for. or incidental to, the conven-
lent transaction Of any and:all forms of busi-
nesaofor which 1t ia organized, and further
among its powers shall be the following
!. To have perpetual succession unless
otherwise limited by law;
2 To sue and be sued by it's corporate
name; 3
s To have commonIlseal which It may
alter when deemed advisable by the board
OF directors;
4. Torenderathe interest ofstockholders
transferable, but only in accordance with
the bylaws OF this Corporation;
B. To exempt the private property Gifts
stockholders from liability for debts of the
Corporations; ~
6. To make contracts, lacquire, incumber.
sell and transfer both real and personal
property suitable and adequate for It's pur~
poses the same as natural person might
do, subject to any restrictions. in these
articles provided;
Z. To make and adopt bylaws, and to
alter, and Iamend same, and to make all
rulesk and regulations necessary or con-
venient for the conducting and manage
ment OF the business Of the Corporation. a.
ARTICLE v.
The Corporation shall have the power to
borrow: money and to issue Its negotiable
notes, bonds or other evidences olindebted.
ness to securelthe payment OF the same, or
to evidence same; to mortgage or pledge Its
real estate, personal property, and securities
whether Ofits own issue or that of other cor.
porations, associations or individuals, owned
by thisr but no money may be
borrowed, nor evidences OF indebtedness is
sued, nor instruments incumbering the
property OF the corporation executed ex cept
pursuant!to resolutions authorizing such &C.
ton passed. by thei board OF directors and
entered at length upon the. record books OF
the corporation, ands no such resolution
shall be considered adopted or passed until
the said resolution shall have received the
affirmative vote OF q majority ofthe entire
board OF directors All eevidences ofindebt-
edness, and all Instruments ofincumbrance
OF property oft corporation. In order to
become the binding obligation Of this cor
chAn
complianceswith the provisi MS herein, and
shall have been signed by the president and
by the secretary Tor duly APP
pointed secretary pro tempore in case of the
absence or inability OF the secretarylto act)
of this. corporation. The corporation shall
have power to fix, declare and pay divi.
dends, as: provided by the bylaws OF this
corporation; to secure the payment of its
Indebtedness in whole or in part by trust
deed, orsdeeds, mortga ges, pledges or assign
ments;!to make and perform any contract
by law to further Its purposes; to
sell, lease, exchange, lncumber and convey
by proper instruments of conveyance any or
all of thesproperty of this corporation, and
to do any and all other acts and ,things and
to exercise any and all powers which a nat
ural person might or could do, which are
now or maythereafter be authorized by law.
ARTICLE VI.
The capital stock ofthis corporation shall
be TWENTY-FIVE Thousand Dollars, divided
into twenty-five hundred shares, each of the
par value of Ten tl0) Dollars, which shall be
ullyipaid in cash when issued, and shall be
worcestershire. The amount of the capital
stock with which this corporation may com
mence business shall be One Thousand Dol.
lars, and the remainder of its stock will be
issued and paid in nom time to time as Its
boardsof dire; ctors may direct. All stock
must be'sold for cash which must be paid in
when the stock Is turned over to the Dur.
chAser. and NO stock shall be delivered to
the pul chaser until fully paid for in cash. At
not leo than par value