Manchester Democrat. [volume] (Manchester, Iowa) 1875-1930, 1921-05-11

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+. WILSON,
City Manager. q.
19-2w. s Is
ARTICLES OF incorporation OF
THE BUILDING COMPANY.
We. whose names are hereto sub
scribed hereby associate ourselves into
Of Chapter L. Title TX. OF the Code of
Iowa and acts amendatory thereof:
assuming all the powers, rights and
privileges granted bodies corporate un-
adopt the following Articles Of Incor-
3 ARTICLE L
The name Of this corporation shall
be The Build ART1 GGTpf Il,
It's principal place Of business shall
be at Manchester in the county of
Delaware and State OF iowa.
The object and powers OF the cor
poration include the purchasing. own
ing, leasing, selling, and holding OF
personal property and Real Estate In
maintaining buildings thereon And Of
borrowing money, issuing OF notes.
bonds and mortgages therefor. and OF
pledging its assets or property as se-
All conveyances of real property or
Instruments entitled to be of record
made by the corporation shall be
executed by the president and counter
signed by the secretary; and all bonds,
notes, mortgages, releases and assign
ments Of mortgages liens, judgments
or other claims that are required by
law to be made of record must be exc
cuted by the president and secretary
of the corporation.
ARTICLE ~.
The amount Of capital stock authori-
zed is Forty Thousand Dollars. divi-
Hal fv,f< CT, r,f nr1o md a6 10 700
each No stock shall be issued until
the corporation has received payment
In full therefor at par In cash or pro-
perty; provided. however that when
money, It must be subject to the APP
prova1 OF the executive council OF
Iowa. as provided in section 1641-b OF
the Supplement to the Code, 1907. and
any amendments thereto. - q
ARTICLE V.
The corporate period OF this corpora
ton shall begin on the date the Secre-
tary Of State issues certificate ct
the expiration of Twenty years from
said date unless sooner dissolved by
a two-thfrds vote of the stockholders
at any annual meeting. or at special
unanimous consent as provided by law.
ARTICLE VI.
The affairs of this corporation shall
than Ie five nor more tS D ten directors
who shall elect president, vice-presf-
dent, secretary and treasurer and such
other Officers, including an executive
~ e. "a X,
this nnrnnratfn., 1oi ~ siAs ~ w -
VI ~ ARTICLE vII.
The annual election shall be held on
the 2nd npssdey ~ January OF each ;ch
shall be held "a the 10th day OF Janu-
airy, 1922, the following persons shall
be directors;k
l. MatthSWs:A ten cnesteE, Iowa; y =,
3 HockadAS. manchester. lowe; w. n
Wolcott, 1aenc1e sfer, Iowa Fred "A.
Myason, Nanehester, Iowa; Burton
Clark. Ma9che ster: Iowa; Grant Bray-
tom Manchester lowas "A. NJ CLOUD
Manchester. iowa; -, I. Ia ,t burDriage
Manchester, lowe; Dptton, Nam
chester, Iowa. We W. AaktneWs, Man
chester;g Iowa;
.sf.Ands theAfoilowing persons snail pc
officers: ~.
Pres1denf 4. Matinews FostoiIlce,
Mancnester iowa sVice-FresidenI FREQ
M9nson Fos&orrice; MancnesleT.
l lSVsa secreIarx ". ~. Ma Inc rost Is;
2. Dutton. Postoffice, Manchester.
Iowa. Il. ... -,
All OFFICERS OF TINS corporation snaA
hold price Ior the term 81 one year
and have qualified Every director shan
pc stock holder anu II any director
shall sell or transfer his stock In
THIS corporation ne snaii ae once cease
70 pc ufrector Tne poard OF directors
may I'LL all vacancies occurring IN ITS
membership between annual elections
py the appointment OF quallIied per-
sons 70 hold oifice Tor the remainder
OF the term. Special meetings OF the
STOCKHOLDERS may be called at any
time Dy the presldenc giving ten days
notice IN person or IN writing 70 the
stockholders ana shall pc called by him
at any time upon request OF stock.
holders representing ten shares OF
stock. and In case OF his neglect or
refusal to call meeting. the parties
owning stock 70 the, amount OF ten
snares may 1oin IN call OF the STOCK
holders, which meeting snail be the
same as though called by the presi-
dent. AT all meetings OF the stock
holders each stockholder shall be en-
titled to one vote Tor 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
70 70 whicn this corporation may at any
time subject itself shall not exceed two
thirds OF Its pafd-up and outstanding
capital stock.
ARTICLE IA
Inc prlvaIe properly OF the stock-
hoiuers snaiI pe exempt from pAymeni
OF .corp1rate debts OF TOT any cor.
porate liability except TO the extent