The Bemidji daily pioneer., 1920-02-05


as banking corporation, under and
pursuant to the provisions of the laws
of the state Of Minnesota governing
banks of discount and deposit; and
to that end we do hereby execute
under our hands and seals the follow
ing Certificate of Incorporation, to-
wit:
FIRST.
The name Of this corporation shall
be the Peoples State Bank of Pine
wood. The general nature Of its busi-
ness shall be banking, receiving de-
posits, buying, selling and discount
ing notes, bills and other evidences of
debt, domestic and foreign, dealing
in gold and silver bullion and foreign
coins and loaning money on real
estate and personal security; and the
place where the business of this cor
poration is to be carried on is Pine
wood, in Beltrami County, Minnesota.
SECOND.
Said corporation shall commence on
the 18th day of January, A. D. 1920,
and shall continue for the period of
thirty years. 81.
THIRD.
The names and places of residence
of the incorporators, and the number
of shares held by each Of them are
as follows:
Joseph Tagley, Mentor, MINI. {;
number of shares, rs.
Andrew D. Stephens, Crookston,
Minn.; number of shares, 25.
Elmer J. Tagley, Gully, Mimi. ;
number of shares, so.
FOURTH.
The government of this corporation
and the management of its affairs
shall be vested in board of three
directors, who shall be elected at the
regular annual meeting Of the stock
holders to be held ON the first Thurs
day succeeding the first Monday Of
January of each year between the
hours of 2 p. m. and 6 p. m. Of the
said day. The first board Of directors
shall consist of the following men,
bers: Joseph Tagley, Andrew D..
Stephens, Elmer J. Tagley, who shall
hold office until the first annual meet
ing, and until their successors are
elected and qualified.
FIFTH.
The amount of the capital stock
shall be Ten Thousand Dollars fully
paid in, in cash, which shall be d.
vided into one hundred shares of one
hundred dollars each.
SIXTH.
The highest amount of indebted
ness or liability to which the corpora
>tion shall at any time be subject shall
be One Hundred Eighty Thousand
Dollars.
In witness whereof, we have here.
unto set our hands and seals this
18th day of December, A. D. 1919.
In presence of 1.-TWO witnesses to
each signature other than incorpor-
ators):
Geo. F. Kitman and Oscar E. Col
den--Joseph Tagley.
A. Bergh and Oscar E. Golden
A. D. Stephens. l.,
A. A. Lindstrom and Cora Moen-
Elmer J: Tagley.
State of Minnesota, County of
Polk, IS.
On this goth day of December,
A. D. 1919, before me, notary pub
lie in and for said county, personally
appeared Joseph Tagley, Andrew D.
Stephens and Elmer j. Tagley, to
me known to be the persons described
in and who executed the foregoing
instrument, and acknowledged that
I they each executed the same as their
free act and deed.
O. M. GROvEN,
(SeaD Notary Public,
Polk County, MINI.
My commission expires April z, 1928.
State of Minnesota, Department of
Banking.
I hereby certify that the forego-
ing Certificate of Incorporation and
the name People State Bank of Pine
wood as given therein have been this
day approved by me.
Dated this 26th. day Of January,
A. D. 1920.
(SeaD F. E. PEARSON,
Superintendent of Banks.
By G. H. Sirwright, Deputy Super
intendent.
State of Minnesota, Department of
State.
| hereby certify that the within in
strument was filed for record in this
office on the 26th day of January,
A. d: 1920, at II o'clock a. m., and
was duly recorded in Book 2 of State
Bank Records, on page 49,.
| JULIUS A. SCHMAHE,
! Secretary Of State.
Office of Register of Deeds, County
of Beltrami, Minnesota.
l hereby certify that the within
instrument was filed in this Office fo1
record on the goth day OF January,
A. D. 1920, at 9 o'clock a. M, and
was duly recorded in Book is Of