Jamestown weekly alert. [volume] (Jamestown, Stutsman County, D.T. [N.D.]) 1882-1925, 1920-09-30
new CORPORATION.
MAY TAKE CONTROL
OF CONSUMERS CO.
Latest Stock Selling Plan Of
League Organizers Contem-
plates Two Million Dollar
Company; Jamestown Man
on Board.

Bismarck, N. D., Sept. %
Especial )-Another stock selling
effort on big biz scales may soon
be under way by leaders OF the
NOnpartisan League.
Efforts now are being made to
incorporate the Consumers Co.
operative" for $2,0OO,00O, divided
into 10000 shares of stock at par
value of $4,000 each.
The leaders in the movement are
men identified now or in the past
with the Consumers Stores started
by Nonpartisan league organizerst
and which became notorious
through the state for the clever
stock arrangements which gave the
organizers an opportunity to pile
up big money.
It is understood that the new
100000 corporation will take over
the present Consumers stores COM
pany. Whether the old organiza-
ton will be taken over and given
81 percent of the stock is not
known. II this should be done
there would still he nearly a mil
lion dollars worth of stock TO sell
farmers and others.
There is a hitch in the arrange
ments just now which will be iron
ed out in court The articles of in
f, corporation, which the stores peO-
pie wished to file with the secretary
OF state, provide for SO directors.
The cooperative stores law provides
that a company shall not have less,
than five directors, while the regu-
lar corporation law provides not.
less than three nor more than IL.
1t is the opinion of Thomas Hall.
secretary OF state, that the regular
corporation laws apply also in the,
organization OF cooperative stores
and that the number Of directors,
shall be not more than H..
/ The matter is more or less Of
formality and the Secretary OF
State is glad to have the consumers
stores people take the matter to.
court for Interpretation. l.. L..
Griffith ct al have announced that.
they will seek mandamus in the
Burleigh county district court to.
gain acceptance of their articles Of.
incorporation as rendered to the:
Secretary of State. The attorney
for Consumers Cooperatives" is H.
i A. Paddock, OF Fargo.
The proffered articles indicate
the big biz" plan OF the origina-
tors. They would incorporate to
conduct wholesale stablish ments,
storage warehouses, brokerage Of
fees. buying and selling agencies
and manufacturing plants.
| Also manufacture, export, import,
buy asd sell. An additional clause:
would permit them to publish per-
! iOdicals, papers or magazines and
! carry on advertising campaigns.
etc.
1t is provided that each stock
holder shall have but one vote.
Earnings not exceeding 8 percent
shall be paid annually as accumn-
lated dividends and the remainder
| ii any surplus, to shareholders and
stock subscribers by patronage div
idends based on purchases.
Before any stockholder transfers
his stock the directors may, on be-
| half of the corporation, purchase
the stock at par value and 1Oeper
cent.
There shall be so directors, it is
provided, whose names are given as
follows: w. H. Sanburn, Cooper
torn; A. T. Retzlan, Aneta; Fl.
G. Link, Niagara; Ludwig Peterson,
Langdon; j. c. McMillen, Esmon
Richard Price. Fessenden; C. w.
Hall. New Rockford; George E.
Brastruf, Courtenay; A. G. Frend-
berg, Hillsboro; o. Freesene.,
Sherwood; T. J. Meekman, Ste.-.
wood; M. J. Rurns. Sherwood; VIM.
Kruger, Sherwood; Frank Rassow.
Sherwood: Louis Neygaard, Colum-
bus; s. S. Scimngson. Crosby; E. E.
Engberg, Crosby: r. o. Russo, Cros-
by; E. J. Pepke, Minot: John e.
Fleckter, Kenmare; r. w. Frazier;
Crosby; Geo. Fifty, Larson; J.. F..
Stone. Powers Lake; Adolph Arne-
son, Qildrose; A. M. Neer, Alexan-
der; T. G. Buchanan, Watford Ctr:
r. w. Patten, Plaza: Henry Golden.
Garrison; Martin Larson, Geneva;
4: J. Hauge. Powers Lake; Geo. r.
Moellrfnp, Ray; Axel Soder,, Wing;
Fred Kastner, Jamestown; Albert
Etten, Dawson; Harry r. Daniel
son, Pettibone: c. w. Reichard.
Carrtngton Mat tMullhoMand.
Hu1dsfield; j. j. Simonson, Turtle
Lake; Roy A. Yeater. Hazelton; E.
A. Schuck, Linton; C. B. Magck.
Kuhn; Albert Peterson, La Moure;
W. e. johnson. Fargo; r. o. Bry-
ant, Bowman; L. l.. Griffith, Fargo.
r. c. Falner, Fargo.
TWO NORTHDAKOTANs