Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1920-12-06


Article V.-The amount of capital
stock authorized is fifty thousand
dollars, divided into shares of 500
each.
No stock shall be issued until the
corporation has received payment
therefor in cash or property.
The corporation may commence
business as soon as fifty shares of
stock have been issued.
Article VI.-The affairs Of this COR
poration shall be managed by a board
OF not less than three nor more than
five directors who shall elect presi-
dent, secretary and treasurer and
such other officers as may be re-
,quired as provided in the bylaws of
tho 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 first Monday
in April and until the first annual
election which shall be held on the
first Monday in April, 1921. the fol-
lowing named persons shall be the.
directors Of the corporation. w F.
Easter, B. r. Parsons, w II. Par
sons and tie following named per-
sons shall be officers: President, w.
F. Easter; vice president, B. r. Par
sons; secretary, w. H. Parsons;
treasurer, w. F. Easter.
All officers of the corporation shall
hold office for the term of one year
or until their SUCCESSORS are elected
and qualified. Every director shallEe
q stakeholder and if any director
shall sell or transfer his stock in this
corporation he shall at once cease to
be a director.
The board of directors may fill va
cancies occurring in its membership
between annual meetings of the
stockholders by: appointing qualified
persons to hold office for the remain
der of the term
Special meetings of the STOCKHOLM
ers 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 STOCKHOLM
time upon the request of one-tenth OF
fhe CAPITAL stock issued and OUT
standing. and in the event Of his ne
elect or refusal the parties repre-
senting one-tenth of the stock Issued
and outstanding may join in call Of
the stockholders which meeting shall
be lawful and valid
Stockholders shall -,
one vote for each share Of stock held
by them. A stockholder may cast his
vote in person or by proxy; written
proxies to be valid must be filed
with the secretary at least thirty
days and not more than sixty days
before regular meeting of the
stockholders. and for q special meet
ing must be filed five days and not
more than thirty days. at which time
they are to be used. All proxies to
become invalid after thirty days from
the date of such meeting.
The corporation shall have lien
upon the stock of any of the stock
holders for any debt due the corpora
ton and in the event the stockholder
is in debt to the corporation he may
only vote the balance Of his stock
above the debt and the amount of the
debt shall not be counted as stock
present at any meeting of the stock
holders.
The corporation reserves the right
to increase its capital, stock at any
time by an affirmative vote Of the
majority Of it's outstanding stock. It
also reserves the right to purchase
it's own stock and retire the same.
Article VII.-The highest amount
of Indebtedness to which this corpo-S
ration may subject itself at any time
shall not exceed two-t thirds of it's
paid up outstanding capital stock.
Article VIII.-The private property
of the stockholders shall be exempt
from corporate debts or liabilities ex-
cept to the extent and in the ,manner
Iowa.
Article IX.-The board Of directors
shall arrange and adopt bylaws for
the general operation Of the corpora
ton which may be changed or
at such times as may be
deemed advisable.
Article Amendments to these
articles may be made at any annual
meeting Of the stockholders or at
special meeting called for that pur-
pose with majority in interest of
the stockholders voting for such
amendments.
In witness whereof, we have this
5th day of November. A. D. 1920, set
our hands to the above and foreso-
ing articles of Incorporation. w. F.
Easter. B. r. Parsons, w. H. Par
sons.
State Of Iowa, county OF Marshall
S. On the 5th day of November, A
D. 1920. before me. w. T. Bennett,
notary public within and for sal,
county. personally came w. F. Eas
ter. personally known to me to be tbs
identical person whose name - af-
fixed to the above instrument and
acknowledged the execution of the
same to be his voluntary act and
deed and that he exec, ted the same
for the purpose therein expressed
Witness my hani and official seal
the day and date Lost above written.
w T. Bennett. notary public in and
for Marshall county.