Cresco plain dealer. (Cresco, Howard County, Iowa) 1913-1945, 1920-09-17
Articles Of Incorporation Of Protivln
Farmers Mercantile Company.
Of Pr0tiVin, Iowa.

Farmers Mercantile Company.
Of Protiyin, Iowa.
: We, whose names are hereto subscribed,
| hereby associate ourselves into u body cor.
| porate, under the provisions Of Chapter l,
Title IX, of the Code of Iowa and acts
am mandatory thereof: assuming all the pow
ers, rights and privileges granted bodies cor.
| porate, and all the duties and obligations
imposed by said Chapter and Title, and do
adopt the following Articles OF Incor por-
| ation to-wit:-
ARTICLEI.
| The name OF this corporation shall be the
PROTIvIN FARMERS MERCANTILE
COMPANY.
! The words Corporation" "Association,' -
and COMPANY In these Articles shall be
construed to mean the same.
ARTICLE II.
| The principal place OF business shall be 4,
Protivin in the County OF Howard and State
OF Iowa.
ARTICLE III.
| The purpose for which this cor poratton is
for med, is and shall be to engage in and con
duct general merchandise, shipping and
manufacturing business, and to that end to
purchase, sell and convey, hold or lease or
exchange hire or otherwise acquire any real
and personal property, and any rights or
privileges which the association deems
necessary for the purpose OF its business.
All conveyances OF real property made by
| the corporation shall be executed by tho
President and countersigned by the Secre-
tary with an Impression Of tho corporate
! seal All xed; and all releases Of mortgages,
liens, judgments or other claims that are
required by law to be made OF record may be
executed by the President, Vice President or
Secretary Of the Corporation.
ARTICLE ".
The amount Of capital stock Of this corpor-
alton shall b Twenty-Five thousand
Dollars, divided into shares OF One Hundred
($1OO.00) Dollars each. The corporation may
commence business when $4,000 In stock
has been issued. No stock shall be issued
until the corpora alton has received payment
In full therefor At par in cash or property;
provided, however that when stock is to be
issued for anything other than money; it
must be subject to the approval of the exec
utive council OF Iowa, as provided In Section
l64l-b of the Supplement to the Code 1918 and
any amendments thereto.
The capital stock authorized may be-
increased by vote Of a majority in interest Of
all the stockholders, by the adoption OF an
amendment to these Articles. When the
outstanding capital is increased, the add
tional shares shall be offered to the existing
stock holders proportionately to their hold
ings at not less than par.
ARTICLE V.
The corporate period Of this corporA alton
shall begin at the date the Secretary ofStAte
issues certificate OF incorporation, and
shall terminate at the expiration OF twenty
COY years from said date unless sooner dis
solved by a majority vote of the stock
holders at any annual meeting, or at
special meeting called for that rpose, or
by unanimous consent as provided by law.
ARTICLE VI.
The affairs OF this corporation shall be
managed by a Board Of five directors who
shall elect a president, first vice.president,
second vice pr esident, secretary and treas
urer as provided for in the bylaws of this
corporation.
ARTICLE VII.
The annual election OF directors shall be
held on the fourth Saturday in February Of
each year.
Until the first annual meeting or until
their successors have been duly elected and
| have qualified the following persons will be
directors.
Name Post Office Address
F.. J. Fencl .............. .Calmar, Iowa.
| JOS. F. Vsetecka.........Ft. Atkinson Iowa.
J. L. Vopava. .Calmar, Iowa
| Geo. J. Bouska..........Ft. Atkinson, iowa.
J. P. Pecinovsky .Calmar, Iowa.
and the following persons shall b officers:
| Post Once
Pres.-F. ]. Fencl. .Calmar, Iowa
list V.P.-Jos. r. Vsetecka. .Ft. Atkinson, Ia.
End v. p. l.. Vopava.. .CalWar, Iowa.
Secy-Geo. J. Bouska..... TT. Atkinson, Ia.
| Treas-J. p. Pecinovsky. .CAlmar, lows.
All officers OF this corporation shall hold
ofice for the term Of ono year or until their
SUCCESSORS are elected, and have qualified.
Every director shall be . stakeholder and II
any director shall sell or transfer his stock
in this cor poration he shall 1t once cease to
be director. The Board Of Directors may
MI ali vacancies occurring In its member
ship between annual elections by tho
appointment Of qualified persons to hold
ONCE for the remaining term. Special
meetings of the stockholders may be called
| 1T any time by the president giving ten
days notice In person or In writing to tho
| stock holders and shall be called by him 1T
| any time upon request OF stockholders rep.
! resenting twenty-five per cent. OF the paid
up ca pital stock OF the corporation and in
case OF his neglect or refusal to call = meet
ing, the parties owning said amount of the
paid-up capital stock NAV join in q call OF
the stoc kholders, which meeting shall be the
same IS though called by the President. At
all meetings OF the stockholders each stock.
holder shall be entitled to one vote for each
share OF stock held by him, which vote he
may cast In person or by written proxy.
ARTICLE VIII.
The highest amount Of Indebtedness to
which this corporation may at any time
subject itself shall not exceed two-thirds Of
its capital stock.
ARTICLE TX.
The private property Of the stockholders
shall be exempt from corporate liability