The Leon reporter. (Leon, Iowa) 1887-1930, 1920-06-24
Notice Of Incorporation.
Whom r Nav Concern:

the provisions OIL Cudplof L, llIle Ia,
amendatory Thereof, assuming all the
powers, rights and privileges grant
ed bodies corporate, accepting all
the duties and obligations imposed
by said chapter and title, do adopt
the following articles of incopora-
ton, to-wit:
Article l. The name of this cor
poration shall be The Farmers Pro-
duce Co.
Article 2. Its principal place of
business shall be at Davis City in
the county OF Decatur and state OF
Iowa.
Article 3. The object Of the cor
poration is for the purpose of buying
cream, eggs, butter, hides, and ali
other products of the farm that can
be safely handled by SAID com pany.
The corporation shall nal, have the
personal property and such real
estate as may be necessary or con-
venient for the proper conduct Of
the affairs of the corporation. All
conveyances Of real property made
by the corporation shall be executed
by the president and cOunterslgned
by the secretary with an impression
of the corporate seal attached, II the
corporation has seal. And all re-
leases of mortgages, liens, judgments
or other claims that are required by
law to be made OF record may be
executed by the president, vice
alton.
Article 4. The. amount Of capital
stock authorized is 100000 divided
into shares of $1,000 each. The cor
poratiOn may commence business
when stock to the amount OF
$4,000 has been paid for and is
sued. No stock shall be issued un
til the corpora ton has received pay
ment in fell therefor at par in cash
or property, provided, however, that
when stock is to be issued for any
thing other than money, it, must be
subject to the approval OF the excel
tive council Of Iowa, as provided in
section 1641-b of the supplement- to
the code, 1918, and any amendments
thereto. The capital stock auth orlZ-
ed may be increased by vote OF two
thirds majority in interest OF ali the
stock holders, by the adoption 81 an
the outstanding capital is increased
the additional shares shall be offer
ed to the existing stockholders pro-
portionately to their holdings at not
less than par.
Article 5. The corporate per-
on the date the secretary of state is
sues certificate of incorporat lion,
and shall terminate at the expiration
OF ten years from said date unless
dissolved by majority vote OF the
stockholders at any annual meeting,
or at special meeting called for
that purp possd or by ~ u mar con-
Article G.. The affairs of this
corporation shall be managed by, a
board of nine directors, VINO shall
elect a president, vice president,
secretary and treasurer and, such
other officers, including an executive
committee as they may see fit or as
may be provided for by the bylaws
of this corporation.
Article Z. The annual election
shall be held on the second Tuesday
OF March of each year, unit! the first
election, which shall be, held on the
enW Tuesday nesgng n M Ehs fsSO dr rhe
ors. N. W. Ordway, Davis
CITY. Iowa; D. H. Schoonover, Davis
City, Iowa; j. B. Dale, Davis City,
Iowa; r. L. Flora, Davis City, Iowa;
Myles Boeger, Davis City, Iowa; 3
Horney, Davis City, Iowa; J; L; Nc
Lain, Davis City, Iowa; O.. E. Black,
The following persons shall be Of
ficers: President, D. H. Schoonoyer,
Davis City, Iowa; Vice President, r.
l. Flora Davis City Htyy;s Iowa Giv sec 1eus
Treasurer, j. L. McLain, Davis City,
Iowa. All officers of this corpor-
alton shall hold office for the term
of one year or until their successors
are elected. and have qualified.
Every director shall be a stockhslder
and if any director shah sell or
he shall at once cease to- be direct
or. The board of directors may fill
all vacancies occurring in it's mem
bership between annual elections by
the appointment of qualified per
sons to hold office for the remainder
Fl ths spen ay be- @ee eaied at
any time by the President upon CIV
ing ten days notice in person or in
writing-to the stockholders and shall
be called by him at any time upon
request of stockholders representing
fifty shares of the stock, and IN case
Of his neglect or refusal to call
the amount Of fifty shares may join
in a call of the stockholders, which
shall be the same as though called
by the president At all meetings on
the stockholders each stockholder
share of stock held by him, which
vote he may csst in person or by
Article s. The highest amount of
Indebtedness to which this. corpoT.
alton may at any time subject itself
shall not exceed two-thirds of its
paid UP and outstanding capital
Article 9. The private property
of the stockholders shall be exempt
from corporate liability except to
the extent and in the manner prov1d-
ed by the laws of the state OF Iowa.
Article 10. The corporation may
make and alter bylaws at plea pleasure e.
directors to do so, subject to such
restrictions as may be deemed advls-
able.
articles may be made at any annual
meeting of the stockholders, or
special meeting called for that pur-
pose two-thirds of all stockholders
in interest voting for such amend
ments.
D. III. Schoonover, !
v