The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1918-06-20

up to the present time. or in proc
ess OF organization.
The Articles.
Following are the articles Of incor'
poration of the Mouse River Farm
ers' Press, organized at Towner, MO
Henry county, and which is sinilai
to the other articles. which are print
ed and are uniform for all paper
organized by Mr.. Townleys bureau
KNOW ALL MEN BY THESE
PRESENTS: That we. the under
signed, have this day voluntarily as
ISOLATED ourselves together for thu
purpose OF forming a corporation un
der the laws OF the state Of Nortl
Dakota.
Article I.
The name of this corporation q
Mouse River Farmers Press.
Article 2.
The purpose for which this corpor'
alton is formed is: To engage in the
business of newspaper proprietor
and publishers and in connection
Herewith to carry on the business o,
job printers, engraYers, publishers
photographers and electrotypers; II
build, construct, erect, purchase, rem
or otherwise acquire any building, Of
fee, workshop, plant and machinery
or other things necessary or useful
and to do all other acts and things
that a natural person may. lawfully
do in carrying on a similar business
Article s. g.
The place where the principal bus
mess is to be transacted shall be II
the town OF Towner, county OF Nc.
Henry and state Of North Dakota,
which shall be the postaofflce ad'
dress Of the business office.
Article 4.
The term for which it is to exist
is twenty (20) years from and after
the date of its Incorporation.
Article s. .
The capital stock of this corpora
ton shall be $11, 400, and shall con-
sist Of four hundred and fifty (450)
shares of common stock Of the par
value of two dollars ($2.00) pei
share and one thousand and fifty
G,050) shares Of preferred stock OF
the par value Of ten dollars ($10.00)
per share. The holders OF the pre-
ferred stock shall be entitled to cum
ulative dividends thereon at the rate
Of seventy cents per share for each
and every fiscal year of the com
pany, payable out Of any and all sur
plus or net profits annually, and when
declared by the board of directors.
The remaining surplus or net profits,
If any, shall be applied in paying
cumulative dividends on the common
stock at the rate Of seventy cents
per share for each and every fiscal
year of the company, and the re-
mainder surplus or net profits, If
any, shall be paid as a. special dfvi-
dend on both the preferred and COM
mon stock share and share alike.
In the event of any liquidation or
dissolution or winding up Of the cor
poration, the holders Of the preferred
stock shall be entitled to be paid in
full both the par amount OF their
shares and the unpaid dividends &C
crued thereon, before any amount
shall be paid to the holders of the
common stock.
The voting power of the preferred
stock shall be limited to one vote
for each stakeholder regardless of
the number of shares such stock
holder may hold.
Article 8. .
The preferred stock, after it has
been paid in full shall be exempt
from all liability for the corporate
debts and obligations. Not more
than 10 per cent OF the proceeds de-
rived from the sale Of preferred stock
SHALL ever be used for the purpose
of organization.
The common stock shall be issued
in payment for promotion and organ
ization work and for services render
ed or to be rendered, and after the
same has been issued it shall be ex-
empt from all liability of corporate
debts and obligations. and there shall
be no individual liability thereon as
to the holders thereof.
Article z.
That the number Of its directors
shall be five and that the names and
residences OF those who are appointed
to serve until their successors are
elected and qualified are:
Names. Addresses.
Ole Gilbertson .. %. ToWner. N. D,
Bert Monahan .Upham, N. D.
Guy Livingston ..... Deering, N. D.
Frank Stacy .Voltaire, N. D.
Lanis Peterson $780,. Balfour, N. D.
Article 8.
To guard against litigation by en-
trenehed wealth, the directors may
buy the preferred stock of any stock
holder who brings, or permits his
name to be used in, an action against
it, by rendering him the par value,
cumulative dividends, together with
a 10 per cent premium, and such
stakeholder shall cease to have any
further interest in the corporation.
Article 8.
The board Of directors NAV. {by
means of a resolution adopted by a
majority Of the whole board at a
meeting duly called for that pur-
pose, designate three directors to
constitute an executive committee,
which committee shall have and ex-
ercise all the powers and rights of
the full board of directors in the
Of the business and af-
fairs OF the corporation. ...
Article 10.
The board Of directors shall have
the power to elect a president, vice
president, secretary and treasurer
and such other officers and assistants
as it may from time to time deem
necessary.
Article II.
ANY officer or director, whether
elected by the stockholders or named
in the certificate of incorporation or
elected or appointed by the board OF
may be removed at any
time, by affirmative vote of a major
ity Of the stockholders Of the cor
poFation with or without cause.
Article f2.
Amy officer selected or appointed
by the board of directors may be re-
moved at any time by the affirmative
vote OF a majority of the whole board
Of directors.
IN WITNESS WHEREOF. we
have hereunto set our hands and
seals this 18th day of September, A.
D. 1917.
Name. Residences.
Ole Gilbertson ..s.... Towner, N. D.
@. P. Brandon. -. Towner, N. D..
B. j. Monahan .-... :. Upharn, NJ. d.
FL. M. Nelson .ToWnsr. N, ID.
n TTy Nx.na,. FNa.,~.. ~ -