Little Falls herald. [volume] (Little Falls, Morrison County, Minn.) 1889-1950, 1916-08-18
Articles q, !, ]. Of I, Incorporation
Central Creamery Co. ofslLit
tie Falls, Incorporated e e

We the undersigned, .,for the purpose
Of forming q body corporate under and
So of the General Statutes Of the. State
Of Minnesota i'm sats for the year 1SlS
mental thereto, do hereby associate our
I selves together as corporation and do
hereby agree and adopt the following
articles of Incorporation. @tii t.i.' !.
the "csntral Creamery C. Of Little lie
| Article II - Ii i.
The general nature Of it's business shall
be the buying, selling lboth; at retail and
products of every kind and nature; the
sale and manufacture of butter and 9TH
er milk products; the owning, operating
! and conducting of creamerieS, and the
doing of a general creamery business.
The buying, selling and jobbing, both
at wholesale and retail, of ANY and all
land the buying, owning holding, selling,
leasing, and mortgaging of real, person.
i al or mixed property; Of every. kind and
conduct Of said business. '"""'' ?. - ~: ~
| Article III s...i
The principal office or place of trans
shall be at the City Of Little Falls,
| County Of Morrison, State of Minnesota.
- Article w
The time for the commencement Of the
! existence of this corporation shall be
| the 2Sth day of August, 1916, and the
period of it's duration shall be thirty
| years.
The names and places of residence of
| the persons forming this corporation are:
! Calvin Mooers, Minneapolis, Minnesota.
! F'lorin ]. Mooers, Minneapolis, Mime
Frank B. Mooers, Minneapolis, Mime
sofa.
Article vi
shall be vested in a board of directors of
not less than three members, and no
| more than five members all Of whom
of office shall be for the period Of one
year or until their successors shall be
duly elected and qualified. -,
The officers Of this corporation shall
Secretary and Treasurer any two of
which offices may be held by the same
persons except those of President and
The names and addresses Of those per-
sons composing the said Board of Di-
Calvin Mooers, Minneapolis, Minnesota.
Florin J. Mooers, Minneapolis, Mime
sofa. .:..l
| sofa.
The first officers of this corporation
! shall be Calvin Mooers, President and
| Secretary; Florin J. Mooers, Vice Presi-
All the above named officers and di-
rectors shall hold their respective offices
| aforesaid, until the first meeting of the
Monday the 2sth day Of August, 1916:
&ru f20f BS GSSsS &nneapes eac
The first annual meeting Of the corpo-
in January 1917. at when time and an
| nually thereafter, the board of directors.
all Of whom shall be Stockholders, shall
| the stockholders. The annual meeting
shall be held at the general office and
principal place of business Of this corpo-
on the said last Non of
of such annual meeting after the cleo
| ton of the directors, or as soon there
after as practicable. the directors 50
ing from their number a president, vice
president, secretary van and treasurer.
Dollars ($5o.oo0, which shall be paid in
money or property, or both, in such man
a ner nne as the soi board Of directors may
order. The capital stock shall be divid.
ed into 500 shares of the par value Of
80 ' Shares res Shall shall be common stock and
$50 shares shall be preferred stock.
The terms, conditions, limitations and
provisions upon which 1Shao said preferred
1. The hold ers thereof shall be en-
titled to receive out of the net profits a
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;
Of any liquidation of the company. either
Through insolvency. or the termination
| of it's corporate existence, or otherwise
g. The said preferred dividends there
on are to be accumuiatiye, SO that II .fo1
be safely paid, or may not be paid
the rights thereto shall accumulate a:
against the common stock, and all ar
rears thereon so accumulated must bt
paid before dividends can be commenced
or resumed on the common stock.
g. Said preferred stock shall at no time
draw more than seven per cent dividend:
iper year, and shall not have the power
to vote at any meetings of the corpora
ton, or have any power In the manage
ment Of same, nor shall said stock bt
In the event Of the liquidation of thu
| corporation through insolvency, or thu
termination of it's corporate existence, OF
otherwise after the Indebtedness of tn
corporation has first been paid; the out
paid at par, plus any accumulated un
paid dividends. The~remaining asset:
Of the corporation shall be divided pr(
rata among the common stock.
retire. said stock upon thirty days notic'
and the payment to. the stockholder:
of the par value of their stock, together
with any dividends due and owing OF