Echo de l'ouest. [volume] (Minneapolis, Minn.) 1883-1929, 1919-12-19
special meeting, called for that pur-

special meeting, called for that pur-
pose.
All directors and officers shall hold
office for one year from the date OF
the annual meeting at which they
should have been elected and until
their successors shall have been elect
ed and entered upon the discharge Of
their duties.
The Board of Directors shall have
the power to fill any vacancies in the
board, for the unexpired term OF any
member.
The first election of directors shall
occur at the annual meeting of the
stockholders, in the year 1921, and
until said election the persons herein
before mentioned shall constitute the
Board of Directors of the Corpora
ton.
The first election of officers shall
occur at the annual meeting of the
directors in 1921, or at any subse-
quent adjourned meeting, or special
meeting called for that purpose.
w
The amount of the capital stock of
this corporation shall be Fifty Thou
sand ($50, 700 .0O) Dollars, which shall
be paid in money, property, or SER
vices, in such manner, at such times,
and in such amounts as the Board Of
Directors shall from time to time Or
der.
The capital stock shall be divided
into Five Hundred 5000 chares, of
the par value of One Hundred
($1O0.00) Dollars per share, Of which
Two Hundred (200) shares may be
designated and issued by the Board
of Directors as preferred stock, at such
time, and in such amount as said
Board shall determine and order, and
as may be permitted by law.
XVI
The holders of the preferred stock
shall be entitled to receive and as de-
from the surplus of net profits
of the corporation, yearly dividends,
payable at such times and at such
rate as may be prescribed by the
Bylaws, which shall be payable be-
fore any dividends on the Common
Stock shall be paid, n set apart; so
that if any yearly dividends declared
aforesaid shall not have been paid
thereon, the deficiency shall be payable
before any dividends shall be paid
upon, or set apart for the Common
Stock; and in case, or in the event Of
any liquidation, dissolution, or win
ding up of the corporation, the holders
of the preferred stock shall be entitled
to be paid in full, both the par
amount of their shares, and the I'M
paid dividends accrued thereon, be-
fore any amount shall be paid to the
holders of the Common Stock, and
after the payment to the holders Of
the preferred stock Of it's value and
the accruded dividends unpaid
thereon, the remaining assets and
funds shall be divided and paid to
the holders Of the Common Stock,
according to their respective shares.
XVII
The highest amount of indebted
ness or liability to which this corpo-
ration shall, at any time be subject
is Twenty Five Thousand($25,OOO. OO)
Dollars.
The annual meeting Of the stock
holders of this corporation shall be
held upon such notice as may be
prescribed in the Bylaws, on the
Second Tuesday in January, of each
year, beginning with the year 1921,
~ O.00 o3o1~.1- -. A. o,~o-~- - .-s1
day.
The first meeting of the i%ncorpo-
rators shall be held at it's principal
office, 412 Cedar Avenue, Minnea-
polls, Minnesota, on the Second
day Of January, 1920, at
500 o'clock P. M. Of said
day,on six CO. days written notice to
all the subscribers to the capital
stock Of the corporation.
IN TESTIMONY WHEREOF, We
have h%ereunto set our hands and af-
fixed u seals, this 18th day of De-
cember, A. D., 1919.
N. L. ENGER, (Seal)
OSCAR LARSON, (SeaD
C. MARTIN MOE, (Seal)
Signed, Sealed and Delivered in the
presence Of:
L. L. E,NGER.
IVER C. NELSON.
State of Minnesota. County of
'Hennepin. SIS.
ON this 18th day of December, A.
D., 1919, before me, a Notary Public,
within and for said County, perso-
nally appeared, N. L. ENGER, OS-
CAR LARSON, and C. MARTIN
MOE, to me known to be the persons
described in and who executed the
foregoing instrument, and acknow-
lodged that they executed the same
as their free act and deed, and for
the uses and purposes therein ex-
pressed.
IVER C. NELSON,
!. Notary Public, Hennepin County,
MINI.
Ny commission expires July "a 1925.
(Seal)
NJ. OOAEE