Little Falls herald. [volume] (Little Falls, Morrison County, Minn.) 1889-1950, 1916-08-25
Articles Of Incorporation
OF -
Central Creamery Co. Of Lit
tie Falls, Incorporated

We, the undersigned, for the purpose
of forming a body corporate UNDER ana
by virtue Of the provisions OF Chapter
SIS of the General Statutes OF the stare
of Minnesota, for the year "A, -, 1917
and the acts amenda tory and supple
mental thereto, do hereby associate our
selves together as corporation and 90
hereby agree and adopt the following
articles OF incorp2 ,tinje
The name of this corporation sllali pc
the Central Creamery Co. OF Llttle
Falls, Incorporated:
The general nature OF its BUSINESS ness, sa nnd
Wholesale, jobbing and handling OF
milk, butter, eggs, and all other farm
products Of every kind and nature; ne
er milk products; the owning, operating lt
and conducting 'of cfeameries, and the
doing OF general creamery business:
The buying, selling and jobbing, both
at wholesale and retail, of any and all
merchandise of every kind and nature,
and the buying, owning, holding, selling
leasing, and mortgaglng or real person,
al ~ mixed property Of every X ind and
nature incident and pertaining TO the
conduct of said business
Article Ill
The principal office place of trans
acting the business of this corporation
shall he at the City of Little Falls,
County of Morrison, State Of Minnesota.
existence of this corporation shall be
the 18th day of August, 1916, and the
period of its duration shall be thirty
years.
The names and places of residence OF
the persons forming this corporation are;
Florin j, Mooers, Minneapolis, Mime
Frank b. Mooers, Minneapolis, Mime
sofa.
Article VI
The anagement of this, corporation
shall be vested in board of directors OF
more than five members, all of whom
shall be stockholders, and whose terms
of office shall be for the period of one
duly elected and qualified.
The officers Of this corporation shall
consist of a President, Vice President,
which Offices may be held by the same
persons except those of President and
Vice President.
Article VII
The names and addresses of those per-
sons composing the said Board OF d.
fectOYS are:
calvin Mooers, Minneapolis, Minnesota.
Form j. Mooers, Minneapolis. Mime
f. nix b. Mooers, Minneapolis, Mime
sofa,
Shall be Calvin Mooers, President and
SECRETARY; Florin J. Mooers. Vice Presi-
dent and Frank b. Mooers, Treasurer.
All the above named officers and d.
r.r1Grs shall hold their respective offices
aforesaid, until the first meeting, Of the
cory ration, said meeting to be held on
M"n.'ay the 18th day Of a August l9le;
Trust building, minneapolis, Minnesota.
The first annual meeting OF the cOrpo-
ration is to be held on the last M.nl,y
nnally thereafter. the board, Of directors,
all Of whom shall be Stockholders. shall
he elected at such annual meeting OF
the Stockholders. The annual meeting
principal place Of business Of this c0rpo-
ration on the said last Monday of Janu-
AIRY in each year. Upon the adjournment
Of such annual meeting after the cleo
ton Of the directors, or as soon there
after as practicable, the directors so
elected shall meet and organize by elect
ing from their number a president, vice
president, secretary and treasurer
VIII
The amount of the capital stock OF
n ,'i 5oooo). Which shall be paid in
money or property. or both, In such man
ner and at such times and in such
amounts rs as the board atdo OF drHc Z. may
ed into 500 shares OF the par value OF
$lU.oo per share. OF said capital stock
.60 shares shall be common stock and
$50 shares shall be preferred stock.
The terms. conditions, limitations and
provisions upon which said preferred
stock is issued are these:
I. The holders thereof shall be en-
titled to receive out of the net profits q
fixed dividend at the rate of seven per
cent per annum. to be payable at such
periods as the directors may determine,
or paid on the common stock for the
period heretofore elapsed And the
principal and par value of said preferred
stock, with accumulated seven per cent
dividends, shall be paid In full In pref
erence to the common stock In the event
Of any liquidation Of. the company. either
through insolvency, or the termination
of its corporate existence, or otherwise.
.. The said preferred dividends there
on are to be accnmulative, so that IT for
be safely paid, or may not be paid,
the rights thereto shall accumulate as
against the common stock. and all ar
rears thereon so accumulated must be
paid before dividends can be commenced
or resumed on the common stock.
q. Said preferred stock shall at no time
draw more than seven per cent dividends
per year, and shall not have the power
to vote at any meetings OF the corpora
ton, or have any power In the manage
ment If same. nor shall said stock he
In the event of the liquidation OF the
corporation through insolvency. or the
termination Of its corporate existence, or
otherwise, after the Indebtedness Of the
corporation has first been paid, the out
standing preferred stock shall first be
paid at par, plus any accumulated a.. IN :
Of the corporation shall be divided pro
rata among the common stock.
The corporation retains the right ia
retire said stock upon thirty days notice
and the payment to the stockholders
Of the par value of their stock, together
with any dividends due and owing on
said stock.
Article TX
The highest amount Of Indebtedness ol
liability to which this corporation shall
at any time be subject is the sun ao OF
TWENTY-FIVE Thousand Dollars ($a6 .OOO).
IN TESTIMONY WHEREOF We have
hereontO set our hands and seals this
10th day Of August, A, D. 1916
Calvin MOOers,
-FlOrian J. MOOers,
Frank Il. MOOers.
Signed In the Presence of
Nj II, MOOers,
Louis Fl. Joss.