Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1918-05-11
NOTICE OF INCORPORATION.

( NOTICE OF INCORPORATION.
Notice is hereby given that the UNI
dersigned have associated themselves
together as body corporate under the
provisions of Chapter /, Title 8, of the
l Code of Iowa, and acts amendatory
I thereto and have adopted articles or
J incorporation providing as follows:
l. The name of this corporation
shall be Marshall Electric Company
and its principal place of business shall
-be at Marshalltown, in the county OF
Marshall and state of Iowa.
2. The object Of this corporation
shall be the buying. selling, an1>eN-
change of electric goods and merchan-
disc of all kinds, at wholesale or retail,
and the installation thereof, and of all
classes of merchandise used in Ionnec-
ton there with, and doing such other
lines of business, as the board Of direc-
tors may from time to time determine,
sincluding all acts necessary and incl
dent to it's business~
q, This corporation shall also have
power to purchase and own it's own
capital stock; - hold, purchase, and
otherwise acquire. to sell. assign,
! transfer mortgage, pledge or other
wise dispose of>shares OF the capital
stock, or bonds, or debentures, or other
evidences of indebtedness created by
other corporations, (not in conflict with
the laws Of Iowa.. and while the hold
ers thereof, to execute all the rights
d and privileges of ownership, including
the right to vote thereon: to borrow
money, and execute the notes or other
obligations therefore; anu ~ sell, con-
vey. pledge or mortgage any or all its
property; and shall have all the powers
that are conferred by law on corpora
tions for pecuniary profit.
3. The amount of capital stock au-
thorized is fifty thousand (s50,000) dol
lars, divided into shares of one hum
dred (s100) dollars each. No stock
shall be issued until the corporation
has received payment in full therefor
at par in cash or property: provided
however. that when stock is to be is
sued for anything other than money,
it must be subject to the approval OF
the executive council of Iowa, as pro-
vided in Section 1641-b of the Supple
lnent to the Code, 1907. and any amend
ments thereto. The capital stock au-
thorized may be increased by vote Of
u two third (2-3) in interest of all stock
holders, by the adoption of an amend
ment to these articles. ~
4. The corporate period OF this cor
poration shall begin on the date the
secretary of state issues certificate of
Incorporation, and five hundred ($500)
dollars of stock has been issued, and
shall terminate at the expiration of
twenty (20) years from said date, un-
less sooner dissolved by three-fourths
Z (&) Xote Of the stockholders.
5. The affairs of this corporation
shall be managed by board Of five
directors. which number may be in
creased TO any number not exceeding
nine upon majority vote of all out
standing stock, who shall elect a presl-
dent. vice president. secretary. and
treasurer, and such other officers, in
Guiding an executive committee, as
they may see fit or as may be provided
for by the laws Of this corporation.
s. The annual meeting and election
of this corporation shall be held on the
third Tuesday in January in each
year. Until the election in January,
1919, the following persons shalt be di-
rectors: r. II. Mcdowell, Marshall
town, Iowa; E.. n. Peak, Marshalltown,
Iowa; r. w. Van Horn, Marshalltown.
Iowa; A. J. Clark, Marshalltown, Iowa;
J.. H. Bakka, McCallsburg, Iowa. And
the following shall be officers: Presi-
dent, L. N. Peak, Marshalltown, Iowa;
vice president y. ]. Clark. Marshall
town, Iowa: secretary, r. w. Van
Horn, Marshalltown, Iowa. treasurer,
II. w. Van Horn, Marshalltown, Iowa.
All officers Of this corporation shall
hold office for the term of one year, or
until their successors are elected and
have qualified Each director shall be
stakeholder. and If any director shall
sell or transfer his stock in this cor
poration, he shall at once cease to be
a director. The board Of directors may
fill all vacancies occurring in it's men,
bers, between annual meetings, by the
appointment Of qualified persons to
hold office for the remainder of the
term. Special meetings of the stock
holders may be called at any time by
the president, upon giving Ave days
notice inLwriting by mail, to the stock
holders, and shah be called by him ut
any time upon request Of stockholders
owning 33'1- per cent of the outstand-
Ing stock, and in case Of his neglect or
refusal to call meeting, the parties
owning 33 Ia per cent Of the outstand-
Ing stocq may Join in a call Of the
stockholders, which meeting, after CIV
ing notice in the same manner as if
called by the president. shall be the
same as tho called by the president. A,
all meetings of stockholders, each
stakeholder shall be entitled to one
vote Tor each share of stock held by
him, which vote may be cast in per-
son or by written proxy.
Z. The highest amount or indebted
ness to which this corporation may at
any time subject itself shall not exceed
two thirds Of it's issued capital stock.
8. The private property of the
stockholders shall lbe exempt from cor
porate debts, except to the extent and
in the manner provided for in the laws
Of Iowa and this article is not subject
to amendment.
g.. The corporation may make and
alter bylaws at pleasure and may au-
thorize the board of directors to do so,
subject to such restrictions as may be
! deemed advisable.
10. Amendmentsr1o these articles,
except to article 8, which can not be
amended, may be made at the annual
meeting Of the stockholders, or at "a
4 special meeting, called for that pur
pose, two thirds of all the stockholders
in interest, voting for such amend
meDts. ,a
IS MARSHALL ELECTRfc CO. =
BY e. N. Peak, President.
BY r. w. Van Horn. Secretary.
y IS