The labor world. [volume] (Duluth, Minn.) 1896-current, 1922-01-28

L. y ": ,S San' 49, Feb 4-11-ls-s5' March
CERTIFICATE OF INTERPRETATIONS
ST. 1oY E1AS Sq Hss6G1A HUMPING 8
For the purpose Of forming and
being a body corporate under the
provisions of Chapter So Of the Gem
eral Laws Of the State of Minnesota,
1918, and acts amendatory thereto and an.
signed has executed and acknowl-
OF INCORPORATION:
ARTICLE I.
The name an Of this ASsS SI , shall
ING AND LOAN ASSOCIATION, Of
Duluth, Minnesota. and it's. primo ipal
place Of business shall be Duluth.
The general nature and object of
it's business shall be to accumulate
a fund from the savings of it's mem
bers, and to loan out Of said fund.
to the members only, and to do the
general business Of local Loan and
sb BY hs Laws Of the STATE D
sofa, and to purchase and hold and
sell such real estate as may be nee
essary or advisable for it to take
on forfeitures, foreclosures, or 9TH
erwise pursuant to the Laws, Of the
other investment Of it's funds az may
be deemed advisable by the Board OF
ARTICLE, IL.
mence on the: 18th day of February,
1922, and shall continue for a period
Of Thirty years. and the first stock
holders meeting shall be held on the
Fourth Mon aRTi e Ma fi1. 1922
The, amount Of the capital stock
ed into Fifty Thousand shares. of
One Hundred Dollars ($1O0.00) each.
which may be paid in one payment or
such times and under such require
ments as may be prescribed by the
bylaws Of the Association It shall
not be necessary for all of said stock
to be subscribed for such Associa-
ton to transact business.
ARTICLE ".
The highest amount Of Indebtedness
or liability to which this Associa-
ton shall at any time be subject
over and above its liabilities to it's
shall not exceed eighty per cent
5000 of its gross assets.
ARTICLE v.
The names and places of residence
are as follows: George 9. Lockhart,
Nels copeland, X. A. Seymour, Jos.
LaFortune, F. A. Booren, John II.
LillJander, F: c. Barrett, VIM. M.
Y ps4ai n J; PeltisrA Gust r; Tyskling,
Keever, e. T. Hobberstad. Wm.. J.
Farmer, Henry Pereault, Filing Mum
keby and Chas. Esse, all Of Duluth,
ARTICLEVI.
The management, Of the business
and the government of the Corpora
pirecsoT a,' and nd offic effect IN IT'S 0oaro OF
! ARTICLE VII.
The OFFICERS rs,as Of the h.. Association
Secretary s TressuTs;r and Attorney
all of whom shall be stockholders.
The names of the first officers of
this Association shall be, as follows:
J. H. Opperman, President; E. T.
Hobberstad, Vice President; K. A.
A. G. Mcknight, Attorney.
They shall hold. their. respective
offices until the annual meeting on
the Fourth Monday in May::~l922, or
qualified. The same persons may
be elected to fill the offices of Sec
rotary and Treasurer and Attorney
or any two Of the said offices.
ARTICLE VIII. r,
poration shall be. vested in fifteen
members thereof. divided into five
classes of three each, and the term
| OF office of one class shall expire
each year. :, = y .-"y5
Three Directors shall be elected by
meeting and shall hold their offices
for five years. or until their success
sors are elected and Qualified; the
names of the Board Of Directors are
az follows: F; a. Booren. Gust R
Ed. McKeever, John Cyroi, J. H. Lill-
lander. 7: H.: 0pperman, Harry An
berstad. II. Pereaplt. W: 3. McEwen
Frank Warner, Lawrence Roske.
The first. three Of the Directors
| above named shall hold their office
until theannual meeting Of the stock
holders to be held on, the Fourth
three Directors shall hold their Of.
flee until the annual meeting OF
the stockholders to be held on the
Fourth Monday in May. 1928. The
third three Directors shall hold their
office until the annual meeting OF
the >AtOcl hO1dpra I'm %hn held m ft1n