Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1920-01-28

corporation, to-wit'
ARTICLE I.
The name OF the corporation shall
be tho Farmers Investment Company.
Of Albion. Iowa.
ARTICLE II.
It's principal place OF business shall
be at Albion. In the county OF Mar
shall and state OF Iowa.
ARTICLE III.
The object OF this corporation In to
buy. hold. sell and deal in all kinds
of merchandise. machinery. motor
vehicles and their accessories, INCLUDE
ing oil and sasolene. also electric,
motors. and electrical apparatus. This
corporation shall have the right to
buy. hold. sell and convey personal
property and such real estate 40 may
0e necessary or convenient for the
proper conduct Of the aftairs OF this
corporation. All oonvvyances Of real
property made By this corporation
shall be executed by the president and
countersigned by the secretary; and
all releases Of mortgages, liens. 3udg-
ments or other claims that are re-
ouirsd by law to be made Of record
may be executed by the president,
vice. presidsnt or secretary Of this
corporation.
ARTICLE w.
The amount Of capital stock author
lied is Twenty Thousand 6 0.o0000)
Dollars, divided into shares of Twen-
ty-ffve Dollars each. The corpora
ton may commence business when
100000 in stock has been issued. No
stock shall be issued until the corpor-
alton has received payment in full
therefor at par in cash or property;
provided, however. that when stock is
issued for anything other than money.
It must be subject to the approval OF
the executive council OF Iowa. as
provided IN Section 1841-b Of the
Supplement TO the Code, 1918, and
any amendments thereto. The capi-
tai stock authorised may be increased
by vots Of majority in interest Of all
the stockholders, by the adoption Of
an amendment to these articles.
When tho outstanding capital is in
creased, the additional shares shall
bs offered to the existing stockhold-
ers prpportionately to their holding
at not less than par.
ARTICLE v.
TMe corporate period OF this corr
poration shall begin on the date the
Secretary Of state Issues a certificate
Of incorporation, and shall terminates
at the expiration of twenty {2o)
years from said date unless sooner
dissolved by a tyo-thirds vote Of the
stockholders at any annual meeting.
or. at a special meeting called for
that purpose, or by unanimous con-
sent a. provided by law.
ARTICLE VI. F.;
Tho affairs of this corporation
shall Be managed by board Of hve
directors, who shall elect q president,
vice-prestdent, secretary and treas
urer and such officers, Including an
executive committee, as they may sea
At or a. may be provided for by the
bylaws OF this corporation.
ARTICLE VII.
Tho annual meeting shah be held
on the first Monday in October. I'm
til the first election, which shall be
held on tho first Monday OF October,
1920, the following persons shall ba
directors:
Martin Graham -. Albion. Iowa
A. s. Beary Albion. Iowa
A. o. Wiley ........ albion. Iowa
D. g. Collins 1900. Albion. Iowa.
s. J. Burrough 49,. Albion, Iowa.
and the following persons shall be
Martin Graham, president, Albion.
Iowa
A. e. Beary. vice president, Albion.
Iowa.
A. o. Wiley, secretary. Albion. Iowa.
D. S. Collins, treasurer. Albion.
Iowa.
All officers Of this corporation shall
hold office for the term Of one year
or unt1l their successors are elected
and have qualified. Every director
shall be a stockholder and II any di-
rector shall sell or transfer his stock
in this corporation he shall at once
cease to be director. The board of
directors may I'LL all vacancies oc-
CURING in its membership between
annual elections BY the appointment
Of qualified persons to hold office for
the remainder Of the term. Special
meetings of the stockholders may be
called at any time by the president
giving Ave days notice in person or
in writing to the stockholders and
shall be called by him at any time
upon request Of two-thirds or more
stockholders, and in case of his
neglect or refusal to call a meeting.
two-thirds or more stockholders may
Join in a call of the stockholders,
which shall be the same as tho called
by the president. At all meetings of
the stockholders each stakeholder
shall be entitled to one vote. which
vote he must cast In person.
ARTICLE VIII.
The highest amount OF indebtedness
70 which this corporation may at any
time subject itseIf shall not exceed
two thirds OF it, paid-up and OUT
standing capital stock.
ARTICLE TX.
The private property of the stock
holders shall be exempt from corpor-
ate Liabilities except to the extent and
in the manner provided by the laws
of the State Of Iowa.
ARTICLE x.
The corporation may make and al
ter bylaws at pleasure and may au-
thortze the board. Of directors to do so,
subject to such restrictions as may be
advisable.
ARTICLE XII.
Amendments to these articles may
be made at any annual meeting Of
stockholders, or at q special meeting
called for that purpose, two-thirds OF
all stockholders in interest voting for
such amendments.
Dated this eth day Of September,
1919.
Martin Graham
y. 8. Collins