Cresco plain dealer. (Cresco, Howard County, Iowa) 1913-1945, 1916-10-27

necessary instruments In writing, OF real
estate to such extent and In such quantities
as may be deemed necessary or advantage
GUS for the flrtherance Of the general pur-
poses Of this Corpora alton; (e) the owning.
erecting, leasing, buying, incumbering. sell.
ing, and conveying by proper instruments
Of conveyance, OF warehouses, sheds, stores,
store.rooms, cold-storase 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 convenientin
the conducting of the business and pro-
motion Of the welfare Of this Cor poration; ~
the making, manufacturing, Jobbing, stor-
ing, shipping. buying. selling, receiving,
handling and selling on commission, can
ming, picking and preserving. OF any and
all articles produced, manufactured, used,
kept for sale. bought, sold, handled on COM
mission or otherwise by farmers, merchants,
manufacturers, jobbers, dairy men, COM
mission men, 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 equlpping, oper-
ating incumbering, selling, and conveying
OF mills, factories, manufacturing plants,
slau ghterlng establishments and all appur.
tenances and accessories thereof and the
purchasing, installing, leasing. incumb er-
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 Cor poration shall have alll powers
necessary for, or incidental to, the conven.
lent transaction of any andiall forms Of bust.
ness for which 1t is organized, and further
among Its powers shall be the following:-8
l. To have perpetual succession unless
otherwise limited by law
2 To sue and be sued by its corporate
name;
8. To have common,iseal which 1t may
alter when deemed advisable by the board
Of directors; Z
I. To render .the Interest ofstockholders
transferable, but only In accordance with
the bylaws OF this Corporation;
s. To exempt the private property ofits
stockholders from liability for debts ofthe
Corporation;
6. To make contracts, acquire, incumber.
sell and transfer both real and personal
property suitable and adequate for Its 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 lamend same, and to make all
rules land regulations necessary or con-
venient for the conducting andNmanage-
ment OF the business of the Corporation.
ARTICLE v.
The Corporation shall have theipower to
borrow. money and to issue Its negotiable
notes, bonds, or other evidences onindebted-
ness to secureIthe payment Of the same, or
to evidence same; to mortgage or pledge its
real estate personal property, and securities
whether of its own issue or that OF other cor
porations, associations or Individuals, owned
by this, corporation, but no money may be
borrow ed, nor evidences ofindebtedness Is
sued, nor instruments incumbering the
property of the corporation executed except
pursuantsto resolutions authorizinglsuch &C.
ton passed. by thet boardj OF directors and
entered at length upon the1record books OF
the corporation, andl no such resolution
shall be considered adopted or passed until
the said resolution shall have received the
Affirmative vote Of majority OF the entire
board Of directors. All levtdences ofindebt-
edness, and all instruments ofincumbrance
OF property of the corporation, In order to
become the binding obligation of this cor
poratiOn, shall have been issued in strict
complianceiwith the provisionslherein and
shall have been signed by the PRESIDENT and
countersigned by the secretary Tor duly ap-
pointed secretary pro tempore In case Of the
absence or inability Of the secretaryotO Act)
OF this: COZ poration. The corporation shall
have power to hx, declare and pay divi-
dends, al provided by the bylaws OF this
corporation; to secure the payment OF Its
indebtedness In whole or In part by trust
deed or;deeds, mortgages. pledges or assign-
ments;lto make and perform any contract
authorized by law to further Its purposes; to
sell, lease, exchange, incumber and convey
by proper instruments OF conveyance any or
all OF thssproperty OF this corporation. and
to do any and all other acts andlthings. and
to exercise any and all powers which . nat
ural person might or could do. which are
now or maylhereafter be authorized by law.
ARTICLE VI.
The capital stock Of this corporation shall
be TWENTY-FIVE Thousand Dollars, divided
into twenty-five hundred shares, each Of the
par value of Ten (10) Dollars, which shall be
fully lpaid In cash when issued. and shall be
non.assessable. The amount OF the capital
stock with which this corporation may COM
mence business shall be One Thousand Dol
lars, and the remainder ofits stock Will be
issued and paid In from time to time rs its
boardlof dire. ctors may direct. All stock
must beesold for cash which must be paid in
when the stock y turned over to the pur.
chaser, and no stock shall be delivered to
the purchaser until fully paid for In cash, ut
not less than par value.