Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1920-05-11

l uAAhOahS "a t3SaRAtoi StOSh VIII WuASN
1t will commence business shall be
five Thousand (s5,o00.O0) dollars. and
the remainters of its stock will be
issued and paid in from time to
time, as its board of directors may
direct. All stock will be 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 l641 of the
code supple ment, as amended by
acts of the Saith general assembly.
chapter SO, and acts amendatory
thereto.
Article g. This corporation shall
commence business on the 18th day
of January A. D.. 1920, and shall
continue for the period Of twenty
(20) years thereafter, with the right
of renewal, as provided by law, UNI
Jess dissolved by vote Of not less
than two-thirds (2-s) of the stock
then outstanding.
| Article 4. The affairs of this
| corporation shall be conducted by a
board Of not less than three (3) nor
more than five co. directors. to be
elected annually by the stockholders
at their reghlar. annual meeting, or
at a special meeting called for such
purpose; and the board Of directors
may. at any time. select from their
own number. an executive board or
committee, consisting of three go
members which shall have full
,.er<, a. ,.1,a c,,t>i,ox 90
the approval of the full board. Ut
may also select such other officers,
agents and employees as the con-
tenience and necessity of its bust
ness may require.
Article s. the officers Of this
corporation shall consist Of a presi-
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
tho board of directors. may be filled
by the remaining directors unvil the
successor Of the person thus chosen
to fill such vacancy, is elected by the
STOCKHOLDERS or directors at an an
nual or special meeting, and has been
duly qualified.
Article s. The board of directors
of this corporation shall be elected at
the annua meeting Of the stock
holders, which shall be held on the
first Tuesday In January Of each
year, commencing in the year 1920.
at the principal office Of the COM
pany at such hour as may be fixed
by the 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 annual meeting.
Of the stockholders. Until the an
nual meeting Of stockholders in the
year 1921. and until their successors
are chosen and have qualified. the
following shall constitute the board
OF directors Of the corporation:
Provisional directors: F. o. Bailey,
o. H. Watkins, Or. A. Watkins, j. r.
Bailey, and r. o. Watkins, all Of
Marshalltt'wn, Iowa.
Provisional officers: f. o. Bailey,
president. o. III. Watkins, vice presi-
dent. r. A.. Watkins. secretary, ]. r.
Bailey. treasurer.
Article 10. The highest amount Of
Indebtedness or liability to which this
corporation may at any time subject
itself, shall not exceed two-thirds
(2-3) OF its capital stock, then OUT
standing: but 1t may issue its bonds
| as provided in Section 1911 Of the
code Of Iowa, or by any amendment
thereto.
Article IL. The private property of
the stockholders Of this corporation
shall be exempt from corporate In
debtednesI,.
Article IL. This corporation may
at any time be dissolved by the
unanimous consent Of all its then
lstockholde rs. or by the affirmative
vote Of t,vo-thirds (2-3) 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 stakeholder. whose name
appears upon the books Of the corpo-
ration. before such dissolution may
be ordered.
Article Is. These articles, except
number e..even, may be amended at
any annual meeting Of the stock
holders O. 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. II. Watkins,