Manchester Democrat. [volume] (Manchester, Iowa) 1875-1930, 1920-06-16


or until their successors are elected
and have qualified
ARTICLE VII.
This corporation commenced its cor
porate eXistance on the 18th day Of
A APP A. a;, p, 1909, and its corporate per-
ton expired on the 10th day of April,
"A. D.. 1920, and is hereby extended un.
ger TINS renewal for further period of
$500 ARTICLE VIII
The first Tuesday in April in each
year is hereby fixed as the time of the
annual meeting of the stockholders of
TINS corporation. Special meetings of
the stockholders may be called at any
time by the president upon giving Ten
days notice, as provided by Article IN
hereof, to the stockholders and shall
be called by him at any time upon re-
quest OF the stockholders representing
majority of shares of said stock Of
SAID corporation and in case of his neg
lect or refusal to call meeting the
parties owning. stock to the amount of a
majority of shares may join in a call
OF the stockholders, which meeting
shall be the same as though called by
the president.
ARTICLEIX
Notice of the time and place of all
meetings of the stockholders shall be
signed by the president and secretary
or by the stockholders representing a
majority of shares of stock of the COR
poration and published in one or more
newspapers of the said city of Man
chester ten (1o) days prior to the
holding of said meeting
ARTICLE X
The amount of capital stock author
dollars, divided into shares of TenSIsI0)
Dollars each. That the capital stock
of this corporation shall be forever
worcestershire and transferable. only
on the books of the corporation in ac-
cordance with the conditions establish
ed in the bylaws as adopted in ,pur-
suance of these Articles of Incorpora-
ton. No stock shall be issued until
the corporation has received payment
in full therefor at par in cash or pro-
perty; provided however, that when
stock is to be issued for anything other
than money, 1t must be upon proper
action by the officers or directors and
subject sto the approval of the ex-
ecutiye council of Iowa, as pro-
vided in section 1G4l-b of the
Supplement to the Code, 1907. and
any amendments thereto. The capital
stock authorized may be increased by
vote of two-thirds in interest of all
the stockholders. by the adoption of
an amendment to these articles. When
the outstanding capital is increased.
the additional shares shall be offered
tionately to their holdings at not less
than par.
ARTICLE NJ.
The private property of the stock
holder shall be exempt from liability
for the debts of this corporation.
ARTICLE XII
The Indebtedness of this corporation
shall not exceed two-thirds (2-3) of
the Capital Stock.
ARTICLE XIII.
Every stakeholder shall be entitled
to one vote, either in person or by
proxy, for each share of either pre-
60, ctr ny Inv ma,
at all meetings of the stockholders, and
all questions arising at said meeting
shall be determined by majority of
the votes cast th there a VIZ
This corporation shall have all the
powers granted or given to railway
corporations by the laws of the state
of Iowa, and right to use any motive
power which it may desire in the OPP
GRAFTON of it's railway or railways, and
adopt common seal.
ARTICLE XIV.
The Board of Directors of this cor
poration shall have the power to adopt
bylaws and make all rules and regula-
tions deemed expedient for the man
agment of it's affairs.
ARTICLE XVI
These articles may be altered and
amended at any regular meeting of the
stockholders by vote of at least two
thirds (2-3) of the stock of said COM
pany then issued, provided that in the
event shall Article Eleven ll) be
changed unless the change be made by
the unanimous consent of all the stock
holders of the Company.
Dated this Sth day of June, A. y. 1920.
JOS. HUTCHINSON, Pres.
L. MATTHEW'S, Sec'y.
State of Iowa. Delaware County SSH
BE 1T REMEMBERED. That on
this Sth day of June, 1920, before me,
Notary Public in and for said county
and state, personally appeared Joseph |
Hutchinson and L. Matthews, president
and secretary, respectively of the said
and Oneida Railway Com