The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1920-09-23
BIG BIZ PLAN
OF LEAGUE MEN;
STEP RIGHT UP
Chance to Get Stock in s2,ooo,'
600 Corporation Going to
Lot of Things
-ss --."
NO PlKERs, tn EsE BOYS
Great Big storel Organization,
Importers as Well as Export
ers, is Planned
NO PlKERs, tn EsE BOY

Another stock selling effort on Dig
biz scale may soon be under way by
leaders OF the Nonpariisan league.
Efforts now are beiIg made to in
corporate the CONSUMERS Coopera-
tive" for $2,000,0O0, divided into 10000
shares of stock at par value of $780,
600 each.
The leaders in the movement are
men identified now or in the past
with the Consumers Stores, started by
Nonpartisan league organizers and
which became notorious through the
state for the clever stock arrange
ments which gave the organizers an
opportunity to pile up big. money.
1t is understood that tile new ST.
100000 corporation will take over the
present consumers stores company.
Whether the old organization will be
taken over and given 81 percent of the
stock is not known. If this should be
done there would still be nearly a mil
lion dollars worth OF stock to sell
farmers and others.
Cog in Machine.
There is hitch in the arrange
ments just now which will be ironed
out in court. The articles of incOr-
poration which. the stores people
wished to file with the secretary of
state provide for so directors. The CO.
operative stores lavsSs's:ppyides that q
company shall not have less tnalY i've
directors, while the regular corpora
tion law provides not less than three
nor more than II.
1t is the opinion of Thomas Hall,
secretary Of state, that the regular
corporation laws apply also in the or
ganiaztiOn of cooperative stores and
that the number of directors shall not
be more than II. .sa.
,,1,The matter is more or less of a
formality and the Secretary of State
is glad to have the consumers stores
people take the matter to court for
Interpretation. l.. l.. Griffith ct al
have announced that they will seek 1
mandamus in the Burleigh county
district court to gain acceptance of
their articles of incorporation as
rendered to the Secretary of State. The
attorney for Consumers Cooperative
is II. A. Paddock, of Fargo.
Regular "Big Biz"
The proffered articles indicate the
"big biz" plan of the originators. They
would incorporate to conduct whole
sale establishments, storage ware
houses, brokerage offices, buying and
selling agencies and manufacturing
plants.
Also to manufacture, export, import,
buy and sell.
An additional clause would permit
them to publish periodicals, papers
or magazines and carry on advertis-
ing campaigns, etc. T..
1t is provided that each stockhold"
er shall have but one vote. Earnings
not exceeding per cent shall be paid
as accumulate dividends ana
the remainder, if any surplus to
and stock subscribers by
patronage dividends based on pur-
chases.
Before any stockholder transfers his
stock the directors may on behalf OF
the corporation purchase the stock at
par value and 10 per cent.
Fifty Directors.
There shall be so directors. it is
provided, whose names are given as
follows: w. H. Sanburn, Coopers-
town; A. r. Retzlaff, Aneta: II. e.
Link, Niagara; Ludwig Peterson
J. G. McMillen, Esmond,
Richard Price Fessenden; c. w. Hall,
New Rockford; George E. Brastruf,
Courtenay; A. C. Frendberg, Hills
boro; o. Freesene, Sherwood; T. J.
Meekman, Sherwood; M. J. Burns.
VIM. Kruger, Sherwood;
Frank Rassow, Sherwood; Louis Ney-
gard, Columbus; S. S. Seingson,
Crosby; e. E. Engberg. Crosby; T. ..
Huso, Crosby; e. J. Pepke, Minot:
John T.. Fleckter, Kenmare; R. w.
Frazier, Crosby; Geo. Eitty, aLrson;
J. f. Stone, Powers Lake; Adolph
Arneson, Wildrose; A. M. Neer, Alex
ander; r. G. Buchanan, Watford City!
H. w. Patten, Plaza; Henry Golden,
Garrison; Martin Larson, Geneva; a.
J. Hauge, Powers Lake; Geo. H. Moell-
ring, Ray; Axel Soder, Wing; Fred
Kautner, Jamestown; Albert Etten,
Dawson, Harry r. Danielson, Petit
bone; C. w. Reichard, Darlington;
Mat. Mullholland, Hurdsfield; J. j.
simonson, Turtle Lake; Ray A. Yeater,
Iazelton; E. A. Schuck, Linton; c. B.
Nagck, Kuhn; Albert Peterson, La
Noure; w. G. Johnson, Fargo; r. ..
Bryant, Bowman; l.. l.. Griffith, Far