Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1920-05-18

troll sale and purchase OF property,
provided however, that nothing here
In contained shall confer upon this
corporation the power to engage in
the business Of operating bank.
building and loan association. or In
surance company; to do a general
manufacturing, product producing.
transporting. marketing and trading
business. not limited to products
herein referred to. but including any
s product or by product, manutac-
ture6l or otherwise; to acquire good
Will. property, rights, franchises.
contracts and assets OF every kind:
to enter into. make. perform and
carry out contracts Of every kind
and nature with any person. firm,
association, corporation. government,
state or municipality: to draw.
make. accept. endorse. execute and
issue promissory notes, bills of ex-
change. bonds. and other negotiable
and transferable instruments: to
purchase hold and reissue shares Of
it's capital stock.
The foregoing clauses shalt be con-
strucd both as objects and powers. but
no restriction ore declaration Of
specific or special objects or powers
lerein enumerated shall be deemed
to- be. exclusive, but it Is expressly
declared that all other powers and
privileges not Inconsistent Herewith,
now or hereafter permitted or grant
ed under the laws Of the state Of
Iowa or by. the laws Of any other
STATE or country. into which this
corporation NAV sock 10 tranaact
b,,.is,es.. are hereby expres.lv In
cl,ds,d a if such other or reneral
nowsrs vav~ hAr.An nat fnrfh At
sienrth,
& ,.Ffc,n B. H,h,s enrror.+son .h.ll
shar. sSIs a. ma 1888. .nece..a - Tor
- IN aAnts1>.sssc tns- convr,,ixns.
=. frt5Snr n A,,:tS e. ,o, ,-hisssn IS
shs. nan orc.ni,nd ,nc,ud,n.. 8 INA
power to own. lease bnv, eIch.nre
ana se,l real e.tata ana amor- q.
fnrther nover. .ha1 "a the ,oi,ov--
ing. - IS
Ern b.v. n.rn.tu., .,.c...,a,
10 an. ana hs .nsd a. -.
,,,,.,,s.,,,r.t. c.,.,,t,,
I'd have corm,r ..., vh,.h
! H mav alter ~ n,e..nre
tn rrnder the intera.t. ~ IN.
stocEholdsf1 tran.farahie
= TO exenntE fha nrdv.t. nrn,,,,...,.x
Of III members from Hahiiftv 5for
& cornorate debta n a 8.
8. To make contracts. aonusr. .nt,
transfer property. nos.sssinr The
SANS powers "a such r1aneet. a
natural persons. q -
1. To adopt by-iavs for Il. own
government, ana make al rules and
regulations necessary FOR the n,,,n.r
management Of its a1airs.
Article s. The authorised capital
stock Of this corporation shall be
atty thousand ($5o, 900. oo) dollars,
divided into two thousand (2,0oo)
shares. each Of the par value OF
Z twenty-nvs ($2S.ooJ dollars, which
shall be fully paid up In cash. prop
erty. patents, services. or other
equivalent, approved and allowed by
the executive council Of the state Of
lows. and be non-asssssable. rns
amount Of capital stock with which
It will commence business shall be
five thousand ($5, 100000 dollars, and
the remainder Of It's stock will be
issued and paid In from time to
time, a. its board of directors may
direct. All stock will be sold for
cash or exchanged or. paid for in
properly, patents or other thing Of
value. approved by the executive
council Of the state Of iowa, under
tho provision Of section 1641 of tho
code supplement. as amended by
acts Of the S4th general assembly,
chapter IS, and acts amendatory
thereto.
Article &. This corporation shall
commence business on the 18th nav
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. un-
less dissolved by vote Of not less
than two-thirds (2-3) of the stock
then outstanding.
Article, Z. The affairs OF this
corporation shall be conducted by
Aoard of not less than three (3) nor
mors than five Coz directors, to be
elected ANNUALLY by the stockholders
at thsae regular, 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 execrtiyo ho,rA ~