The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1919-08-05
MANAGER
HASBEEN SECURED
TO TAKE CHARGE.
OF BEMIDJl MARKET

,, =. -. - '.Lia. = '. - - :.
F known as the board Of man
ayers. to be elected by the stock
holders at the annual meeting of
said company, which shall be
held on the third Tuesday of
January each and every year;
that three z Of said directors
shall be elected for the term of
one year, three for a term of ..
two years and three thereafter =
when said terms expire,s for a
period of three years each .
The amount Of capital stock i
of said corporation is hereby i
fixed at and limited to the sum
of fifteen thousand dollars ($15,- -
O0O), divided into fifteen hun
dred shares of ten dollars for 7
each share. No share shall be e.
issued for less than its par 4;
value, to be paid In cash or it's !
equivalent IN approved COM y
mercial paper or property at the
time Of delivery. No stockholder
shall own more than twenty
shares nor he entitled to more
than one vote. The highest
amount of Indebtedness or liza
bility, to which said corporation -
shall at any time be subject.
shall not exceed the sum of $15,-
900 the amount Hof authorized
capital stock OF the company. .
Distribution Of Profits.
The bylaws, It Is suggested, will
include the following reference to
distribution of profits, or earnings:
The net profits or earnings of the
company shall be determined and
distributed by the board of man.
ayers, at the close Of each year as
follows: b. ~ sssy.c
"First-Divfdends to the stock
holders in an amount not to exceed
the legal rate of interest," :s col. '-'sS''
"Second--A> reserve fund to in
sure the value of the capital stock
and credit at the bank and for the
extension or enlargement of the bus
iness of. the company, the better
inent Of It's plant, and for such other
purposes and uses as may be neces-
sary OF advisable. The reserve fund
shall not bs distributed to the stock
holders until the final dissolution or
winding up Of the affairs Of the cor
.poration I
Third - Patronage dividends to
patrons OF. the company in1 direct
ratio to 'ttS af6Sant .of business car
ried on between the company" and
the individual patron in the market
ing of farm products"
Z Stock Now on Sale. =
! Solicitation of stock subscriptions
is now In progress, and SO epthdsi-
astic are the farmers and merchants
who have learned Of the markets
many benefits that no difficulty is
con ontemplated IN securing the $4,000
needed The following shows basis
Of allotment on which Bemidji bust-
ness men will aid in %flnahcing the
proposition, which is certain to be
the most beneficial enterprise ever
undertaken on a cD-operatlve plan:
Il. M. Sathre, $50; e. e. Battles,
500; Bemidji Auto company, $50;
C. w. Jewett. 5000; Motor Inn, $780,;
e. N. French, 500; J. H. French,
Pfeifer, $40: Security State bank.
s2tu; City Drug Store 500; Board
mans Corner Drug Store. $780, Ba-5
zaar Store, 500; Abe Cohen, $50;
Gill Brothers, 5000; G., A. Knapp;
$780, o. ]. Laqua, 500; ]. c.. Penney
company, 5000; w. G.. Schroeder.
5000; o. G. Schwandt, 5000; Shaw
Itch Brothers, 5000; George Stevens
&, Son, $50; Fred Langdon, 5000
Bemidji Box company, $500; st.
Hilaire Lumber company, $500; Jake
Kohler. 500; John Goodman. 5000;
George Kreatz, 800; John Moberg,
5000; Tom Smart, $50; Smart:
Getchell Ice company, $50; E. r.
Getchell, $50; A. C. Johnson, $50;
Drs. Lunde & Dannenberg, $50; Hog
anson Brothers, $50; Frank Lycan
5000; A. o. and Edwin Ackre $500;
Gus Brown. $50; VIM. Christianson,
$50; Joe McTaggart, $50; Henry
Marin, SO; r. J. Tesch,- $50; DR..
J. w. Diedrich, $40; DR.. R. E. Rich
ardson, SO; DR.. d. L. Stanton, $40;
Dr.. J. T. Tuomy, $40; A. T. Carlson.
$500; Minnesota Electric Light and
Power company, 5000: T. S. Erwin.
5000: r. ]. Burke, 5000; John Will
cox, 5000; DR.. A. v. Garlock, $50:
Northwestern Oil company, $50:
Standard Oil company. $50; Drs. Lar
son & Larson, $50; Pearl Barnell
$40; Bemidji Gas company, $50;
James L. George, $50; Bouldoc & Co.,
SO; Henry Brake, $40; A. E.
Hodgdon, $40; Herbert Carver, $50;
Morris Kaplan, 5000; M. J.. Case,
$40; P. NJ. Dicaire, $40; o. E. Erick-
son, $40; NJ E. Brinkman, $50; E.,
s. Gould, $40; Henry Miller, 500;
Charles .Nangle, 5000; Harding
Whaley. $50; Thomas Nygaard, ~$50;.
Martin Dunn, $50; John Dalton $50:5
A. B. Palmer, $780,. A.. L. Collard,