The Bemidji daily pioneer., 1922-11-28


purposes otner otherwise, as may be,
thought advisable, and to light htssstreets
places and buildings, public Or private,
ny means or electricity or otherwise,
70 construct, manage operate and main
tain. for itself or others, to- purchase,
lease or otherwise acquire, conduits,
lines. electrical lighting and heating
plants. S <..t. # Es..ss. 4
B.. The principal place of transacting
qf 9a,l Gonnt% or
trami and State Of Minnesota. = :%5s5
a. The time for the commencement
of this corporation shall be the ,2Tth
period OF its duration shall be thirty
t30) years from said date. H. - =
S. The names and places of resi-
dences OF persons forming this corpora
tion are as follows: A. J. Nay1or, Sr.,
a. j.. .t~aylor, >Jr., Harold M. .Naylor,,
and Catherine c. Naylor, all residing in
Bemidji. Minnesota. ,,..g. Al y~'. / (,
g.. The management of this corpora
ton shall be vested in a Board of Di-
rectors composed of not less than three
| The names and addresses of the first
Board of directors are as follows: = .
l. : "A. ]. Naylor. ST., Bemidii. MINI. -
T A. r. Naylor Jr.. Bemidii. MINI.
| Catherine G. Naylor. Remidii. Minn
The first Officers of this Corpora
ton ~ shall be A. j. Naylor. sr.. ,Presi-
dent and Treasurer: A. J. Nayior. Jr..
Vice-president; Harold M. Naylor. Sec
reta5y;s a51 af.t,s ! above otf;c.r. and d;rsc.
tors shall hold their respective offices
| a foresaiif until the next. ANIMAL meet
ing Of the Corporation to be held on the
second Tuesday of january; 1928. at
Board of Directors, shall be elected from
and by the, stockholders of this CORPORA
! tions - i& 4.e-a%.+a a'.l =.
The annual meeting of this corpora
ton shan be held at the office Of the
Corporation in the city of Bemidji. Bel
trami County. Minnesota, on the sec
ond Tuesday of January, at the hour
| or 1000 "A, M, of each year hereafter
. Immediately after the election of Di-
rectors or as soon thereafter as prac-
ttical ti1evDirectors shall meet and elect
| from their number a President, a vicef
president and a Treasurer, and from
| their number or from the stockholders
a Secretary. ANY office except that Of
! President and Vice-president may be
held by one person..
The Directors and officers Of this
corporation shall hold their respective
| offices until their successors have been
duly elected and entered upon the dis
charge Of their duties. r. =
f. The first meeting of the stockhold-
ers:, and Board of Directors shall be at
thet office OF said corporation in the
Clty4 of eBemditi, on the 9th day of
| November. A. D. 1922. at the hour Of
Z Pm. and P. NJ. respectively.
4: The amount Of the capital stock
| of this corporation shall be Fifty
| Thousand $3.50, 0,O00) Dollars, divided in
| to Five Hundred (50O) shares Of the
par value Of One Hundred (sI0o.00)
dollars per share, which stock shall be
paid in in money or property, or both,
~ such manner, and at such times and
| in such amounts as the Board of Direc-
tors snail order, = ~ = - '
! g. No transfer of: stock OF the cor
poration by virtue of sale shall be made
| by any stockholder without first max
! Ing written offer of sale OF such stock
to the Board of Directors BY an affida-
Wit alleging the bona fide offer of pur-
chase of said stock and the amount Of
fered therefor, and of the Board Of Di-
rectors shall have sixty (60) days from
| the date Of notice Of such written offer
and affidavit, to place said stock with
| the stockholders. At the expiration Of
| sixty (60) days from the date of notice
of said written offer and affidavit, If
| no stockholders have purchased and
] settled for said stock. said stockholder
/ or stockholders shall have the right to
| sc,T said stock for the sums and prices
J ten offer and affidavit to any person
whatever. IT. ~ '<-.{rr9f-j =. -
f 9. The highest amount Of indebted
ness or liability which this CORPORATION
ssaNs at anv time be subject, shall be
| the sum OF Fifty Thousand ($50,O00)
| TN TESTIMONY WHEREOF, We
| day of November, A. d. 1922. ~
| ( A. j. Naylor. sr.. ,-,- = T.: III TN
: A. J. .Naylor. Jr. w. .@ .-.45 49,
| Harold NJ. Naylor.
/ y Catherine C.. .Naylor. -
In the presence of =
| l.. ..s-. .-...... Hallan Huffman