Willmar tribune., 1919-12-31

VI 1Sl uOl4CdIlOuy O6C. E4.-IC.)
ARTICIEs OF INCORPORATION OF
PENNocK IMPLEMENT COMPANY
or PENNocK, MINNESOTA.
KNOW ALL MEN BY THESE PRES
ENTS: That the undersigned adult re-
sidents of the State of Minnesota, do
hereby make, sign and agree to the fol-
lowing Articles of Incorporation, for the
purpose of forming a corporation under
the Laws of the State of Minnesota,
being Session Laws of 1909, Chapter 62,
and the several acts amendatory thel eof
and supplemental thereto,
ARTICLE I.
The name of said corporation shall be
Pennock Implement Company.
The words Corporation" "Associa-
tion," and Company" in these Articles
shall be construed to mean the same.
ARTICLE II.
The general nature of the business of
this corporation is and shall be to en-
gage in and conduct a general farm i'm
plement, live stock buying, selling and
shipping, and manufacturing business
on the cooperative plan, and to that
end to purchase, lease, exchange, hire
or otherwise acquire any real and per-
sonal property, and any rights or privil-
eges which the corporation deems neces-
sary or desirable for the purpose Of its
business; to be and become a party to
any lawful agreement for sharing pro-
fits, cooperative of mutual trade ar
rangements with any person, company,
| or corporation that is engaged in SINH
lar or other lines Of business, or that is
! conducted so as to directly or Indirectly
benefit this corporation.
ARTICLE III.
The location and principal place of
business Of this corporation shall be at
Pennock, County Of Kandiyohi and State
| of Minnesota, and branch Offices and de-
partments may be conducted in other
locations.
ARTICLE w.
The period of the duration of this
corporation shall be Twenty (20) years.
ARTICLE V.
The names and places of residents of
| the. persons forming this corporation
are:
| F. N. Anderson of Pennock.
Jens l.. Hansen Of Pennock.
| Birger Akerson of Pennock.
| H. Edman of Pennock.
! John F. Lindberg, of Pennock
John A. Carlson of ~Pennock.
| D. G. Beck of Pennock.
| q majority of whom are residents of
the County Of Kandiyohi and State of
| Minnesota.
! ARTICLE VI.
| Section 1. The officers of this corpora
| tion shall consist Of five 60 directors
| jority vote of the stockholders present
at the annual meeting of the company,
| which shall be held at the principal
place of business on the date fixed in
| the Bylaws of the Company
Section 2. At the first annual meet
| ing of the company two directors shall
be elected for three years. two for two
years, and one for one year, and they
shall hold office until their successors
have been elected and have qualified.
| Annually, and Immediately after the
| election of directors soon there
after as practicable, the qualified di-
| rectors shall meet and elect from their
| number, President, First Vice-Presi-
| dent, a Second Vice-President, a Secre-
| tary and a Treasurer, who shall serve
in these capacities for one year, or until
| their successors have been duly elected
| majority of the directors shall con-
| stitute a quorum for the transaction of
| all business at the meetings of the di-
rectors.
| Section 3. Until the first annual
| meeting or until their successors shall
| have been duly elected and have quail
| fed. the following persons shall consti-
| tute the first board of Directors and
| officers of this corporations:
! F. N. Anderson who shall be Presi-
! dent,
| D. c. Beck, who shall be First Vice
President,
John A. Carlson, who shall be Second
| Vice-President
Jens L. Hansen, who shall be Secre-
! tary.
| Birger Akerson, who shall be Treas
| urer.
ARTICLE VII.
| The highest amount of indebtedness
| or liability to which this corporation
| shall at any time be subject, shall not
| exceed the authorized capital stock OF
the corporation.
ARTICLE VIII.
Section I. The capital stock Of this
corporation shall be Fifteen Thousand
| $15,00O.00) Dollars, divided into One
| Hundred and Fifty (150) shares Of One
Hunderd ($10O.OO) Dollars each, which
| shall be paid in at such times, and in
such amounts and manner as the Board
| of Directors may determine.
Section 2. No person shall receive OF
be entitled to receive any dividend on
| the capital stock of this corporation ir
excess of One Thousand ($l.O00.0O) Dol.
| lars of the capital stock thereof, and
no person shall be entitled to more than
one vote on any subject at any regu-
| lar or special meeting or election OF
| this corporation, nor to vote by proxy
IN WITNESS WHEREOF, We have
| hereunto subscribed, this 18th day OF
December, A. D. 1919.
F. N. Anderson,
| D. C. Beck,
John A. Carlson,
Jens L. Hansen,
Birger Akerson,
H. Edman,