Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1919-05-03
GERS and agents. the cost thereof V %
paid by the corporation,
ARTICLE N -


paid by the corporation.
ARTICLE n. ~
The hoard OF directors, may. NJ, any
regular meeting or the hcard, or AT
any special meeting called for the
purpose adopt such bylaws, rules
and regulations not inconsistent with
these articles "A II shah deem neces-
sary and advisable for the carrying on
OF the business of the corporation or
any Of the several departments or
branches OF said business; such by
laws, rules and regulations TO be sub
Ject 10 revision. change or repeal by
the stockholders In annual meeting or
at any special meeting called for the
purpose.
ARTICLE Nj
No real estate belonging To this COS
poration shall he sold or conveyed OK
cept upon the order and under the d.
rection OF the board OF directors. All
conveyances of real property made by
the corporation shall be executed by
the president and countersigned. by the
secret ry with an impression OF tho
corporate seal attached, II the corpor-
alton has seal: and all releases or
mortgages. liens, judgments or other
claims that are required by law TO ne
made OF record may be executed by
the president, the vice-president or the
secretary Of the corporation.
ARTICLE MI.
On the vote OF a majority of the di-
rectors this corporation may borrow
money from time to time for use in
its business: but at no time shall the
amount OF the Indebtedness of the cor
poration exceed two-thirds (2-S) of the
paid-up capital stock.
ARTICLE XIII.
Tho private property of the stock
holders of this corporation shall be
exempt from execution for the debts
OF the corporation.
ARTICLE XIV.
On the Slst day of December Of each
year the board of director shall cause
complete inventory Of the corpora
tons property to be taken and shall
ascertain the profit and loss for the
year ending on that date.
ARTICLE XIV.
The board of directors shall employ
q manager 10 have charge of the bust
ness affairs OF the corporation, and
may employ such other agents and
employees as it shall deem necessary 10
the efficient carrying on of its bust
ness and any departments or branches
OF said business that said board may
establish; said manager. agents and
employees. however. being at all times
subject 10 the control of said board.
and subject TO removal or dismissal
by said board at any time for cause.
Said board shall fix the salaries or
mpensations OF said manager. agents
and employees.
Said manager and agent of the COR
poration shall be stockholders in the
corporation. and may be officers or
directors thereof
7 he board Of directors shall not have
power to appoint or employ any man
2ger, agent or employee OF the corpora
ton for a period longer than, or run
ming beyond. the term of office OF the
directors themselves.
ARTICLE XVI.
The corporation shall at all times
Rave lien upon the stock held by any
stockholder for any Indebtedness on
al y account of said stakeholder to the
corporation.
ARTICLE XVI.
Subject to revision of their action by
any general or special meeting Of the
stockholders. the directors shall. by
bylaw. apportion the earnings OF the
corporation in such manner in ac-
cordance with law. as they may deem
oess for the conservation Of the inter-
ests of the stockholders and patrons
of the corporation. And the profits or
net earnings of the corporation shall
be distributed to those entitled there
to, at such times and In such manner
as the bylaws shall, in accordance
with the statutes. prescribe.
ARTICLE XVIII.
This corporation shall have a corpo-
rate seal. which shall be a circular disc
containing in the outer circle the name
and address of the corporation. and in
the center the words corporate seaP'
with the year of organization.
ARTICLE XIX.
The corporation may amend its ar
ticIes of incorporation by a majority
vote OF the stockholders at any regu-
lar stockholders meeting, or at any
special stockholders meeting called
for that purpose on ten days notice TO
all stockholders Said power to amend
shall include the power to increase or
diminish the amount of capital stock
and the number OF shares; provided
the amount of capital stock shall not
be diminished below the amount Of
paid up capital at the time the amend
ment is adopted
ARTICLE Xxx.
Following are the names and places
of residence Of the persons forming
this corporation. and said persons ara
hereby appointed and constituted di-
rectors of the corporation until tho
next annual meeting of the stockhold-
ers following the date hereof. and until
their SUCCESSORS are elected and quail
fled: Ben J. Hanfeld. Martin KunkeL
Charles II. Edel. B. H. Deternan, Henry
Rifle, A. II. Stalzer. Haverhill Iowa;
William r. Stalzer. B. G. Lolwing, J.
H. Holdgrafer. Marshalltown, Iowa
R. s.
And the following named persons
are hereby appointed and constituted
the officers Of this corporation, each
for the office set forth opposite his
name. until the next annual meeting
of the directors following the date
hereof. and until their successors ara
elected and qualified.
B. H. Determan-President
Martin Kunkel--Vice president.
A. II. enthusiastically.
Henry Pille-Treasurer.
In witness whereof we have hereunto
set our hands this Gath day Of March.
1919.