Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1920-05-25

amount Of capital stock with which
It will commence business shall be
five thousand (s5,000.00) dollars. and
the remainder Of Its stock viii be
issued and paid In from time to
direct. All stock will IA sold for
cash or exchanged. or paid for In
property, patents or other thing OF
value. approved by the executive
council of the state Of Iowa, under
the provision OF section 1871 Of the
code supplement, as amended by
acts Of the s4th general assembly.
chapter SO. and acts amendatory
thereto.
Article {. This corporation shall
commence business on the 18th day
of January. A. D.. 1920. and shall
continue for the period Of twenty
(2o) years thereafter. with the right
Of renewal. as provided by Law. u.s.
less dissolved by vote Of not les
than two-thirds CD Of the stock
then outstanding.
Article Z. This Affairs Of this
corporation shall be conducted By .
board Of not less than three 90 nor
moro than five (t) directors. 70 10
elected annually by the stockholderol
at their regular. annual meeting. % y
ut . special meeting called for such
purpose: and the board Of directors
may, at any time, select from thalP
own number. an executive board or
committee. consisting Of three ~
members which shsllH have full
charge Of the corporation, subject to
the approval of the full board lt
may also select such other officers.
agents and employees ~ the con.
venience and necessity of its buai.
ness may require.
Article 8. the officers Of this
corporation shall consist Of q prosi-
dent, vice president. secretary. and
treasurer. All officers and directors
Of this corporation shall hold Office
for one year, or until their successors
shall have been chosen and qualified
and any vacancy In any Office or In
the board OF directors, may be fllleA
by the remaining directors unrii the
successor Of the person thus chosen
to NIL such vacancy, II elected by the
stockholders or directors at an an
nual or special nssting, and has been
duly qualided.
Article .. The board Of directors
Of this corporation shall be elected 1t
the annual meeting Of the stock.
holders. which shall be held on the
drst Tuesday in January Of each
year. commencing in the year 1880.
at the principal oifics Of the COM
pany ut such houi. a. may be Axed
by tho directors or By the bylaws.
The officers Of this corporation shall
be chosen by the directors At the
annual meeting Of the directors.
which shall be held each year I'm
mediately after the snnuai meeting
Of the stockholders. Until the an
nuai meeting Of stockholders IN the
year 1921. and until their sucosssou
are chosen and have qualified, tho
following shall constitute the board
Of directors Of tho corporation:
Provisional directors: r. o. Bailey,
o. n. Watkins, R. A. watkins, ]. r.
Bailey, and R o. Watkins. all of
Marshalltown. Iowa.
Provisional officers: y. o. Bailey.
president. o. 9I. Watkins. vice presi-
dent. R. A watkins. secretary, J. r.
Bailey. treasurer.
Article 10. The highest amount Of
indebtedness or liability to Wh1oh this
corporation may at any time subject
itself. shall not exceed two-thirds
CD Of IT. capital stock, then OUT
standing; but IT RAY issue it, bonds
a. provided In Section 1911 Of the
code Of Iowa, or 10y any amendment
thereto.
Article II. The privats property Of
the stockholders ef this corporation
shall be exempt from oorporats in
debtedness.
Article IL. This corporation may
ct any time be dissolved BY the
unanimous consent Of al its them
stockholders, or by the affirmative
vote Of two-thirds (3-3) thereof, at
any regular or special meeting of the
stockholders. called for that purpose.
At least ten days notice In writing
Of such meeting and Of the purpose
to dissolve, must be given to each
and every stockh older whose name
appears upon the books Of the corpo-
ration, before such dissolution may
be ordered.
Article Is. These articles. except
number eleven. may be amended at
any annual meeting of the stock
holders or at any special meeting
called for that purpose. but no such
amendment may be made without
the affirmative vote Of two-thirds
(2-s) of the shares OF stock then
outstanding.
F. o. Bailey,
o. H. Watkins,
r. o. Watkins,