Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1919-11-07

| 81 a amsnlmsnt - these articlsss'
when the eutstandin6 capital - Inc
Icreased the additional shares shall be
Offered 20 the, existing stockholders
proportionateiy to their holdings. ~
not lass than par.
The corporation may commenced
business a. soon as ono hundred shares
Of stock have been issued.
ARTICLE vi. ~
The affairs OF this corporation shah
be managed by a board Of not less
than three nor more than fifteen d.,
rsctors, who shall elect a president,
vice president. secretary and treasur-
er, and such other officers as may be
required as provided In the bylaws Of
the corporation.
The annual meeting Of the stock
holders shall be held at the offices Of
the corporation In the city OF Mar
shalltown. Iowa, on the and Of Janu-
airy. 1890, and until the first annual
election. which shall be held on the
second day Of january. 1920, the fol-
lowing named persons shall be the d.
reotors OF the corporation: J. 8. Barry
and Frank Dursee, and the following
named persons shall be officers:
J. 8. Barry. president and secretary.
Frank Dursso, vice president and
treasurer.
All officers Of tn corporation shan
hold office for the term Of one year,
or until their successors sare elected
and qualified. Every director shall be
stockholder, and II any director shall
sell or transfer his stock In this corr
poration he shall at once cease to be
director.
Tho board Of directors may ill va.
candles occurring In Its membership
between annual meetings Of the stock
holders by appointing qualified persons
to hold office Tor the remainder Of the
term.
Special meetings Of the stockholders
may be called at any time by the
president giving ten days notice In
person, or In writing addressed to the
last known address Of the stockhoid-
ers. add shall be called by him at any
time upon request Of one-tenth Of tho
capital stock issued and outstanding,
and In case OF his neglect or refusal
the parties representing one-tenth OF
the stock Issued and outstanding may
Join In call Of the stockholders. which
meeting shall be lawful and valid.
Stockholders shall be entitled to one
vote for each share Of stock held by
them. A stookholder may cast his
vote In person or by proxy: written
proxies to be valid must be filed with
the secretary at least thirty and not
moro than sixty days before q regular
or special meeting OF the stockholders
at which time they are to be used
They shall become invalid after thirty
days from the date Of such meeting.
The corporation shall have q lien
upon the stock Of any OF the stockhold-
ers for any debt to the corporation. and
in case the stockholder Is In debt to
the corporation he may only vote tho
balance Of his stock above the debt
and the amount Of the debt shall not
be counted az stock present at any
meeting Of the stockholders.
The corporation reserves the right
to increase it's capital stock at any
time by an affirmative vote Of ANA
jority Of Its outstanding stock. It also
reserves the right to purchase it, own
stock and retire the same.
ARTICLE VII.
The highest amount OF indebtedness
to which this corporation may subject
itself at any time shall not exceed
two thirds Of It's paid up outstanding
capital stock.
ARTICLE VIII.
The private property Of the stock
holders shall be exempt from corpor-
ate debts or liabilities except to the
extent and In the manner provided BY
the laws Of the state Of lows
ARTICLE *.
Il 30 shall Arrange
and adopt bylaws for the general OPP
GRAFTON Of the corporation. which may
DO changed or amended at such times
| a. may b deemed advisable
ARTICLE x.
Amendments to these articles may
be made at any annual meeting Of the
| stockholders or at special meeting
called for that purpose, with major
ity in interest of the stockholders voe-
ing for such amendments.
| In witness whereof We have this
second day OF October. 1919. set our
hands to the above and foregoing
articles Of incorporation.
| J. 8. Barry.
Frank Durses.
State Of IOWA, county Of Marshall
gS.
On this second day Of October. A. D.
l1s1s, before me w. T. Bennett no.
tary public within and for said county.
personally appeared j. s. Barry and
\ Frank Dursee. to me personally known
to be the identical persons whose
names are affixed to the above and
foregoing instrument, and severally
acknowledged the execution Of the
same to be their voluntary act ana
deed for the purposes therein express-
| ed.
Witness my hand and official seal
the day and date last above written.
w. T. Bennett,
Notary Public In and for Marshall
County, Iowa