The Leavenworth echo. [volume] (Leavenworth, Wash.) 1904-current, 1922-02-17
ORGANIZATION OF
CASCADE SAN|TARIUM
NOW PERFECTED
ARTICLES OF INCORPORATION
DRAWN AND SIGNED AND
STOCK SALE TO BEGIN.

The committee of the Commercial
Club appointed some tim. ago to
push the Sanitarium matter have ha
articles of incorporation drawn and
adopted and are about ready to begin
the canvass for the sale of stock. 1t
is proposed to sell all the stock pos
sible up to 100000 and build a sanl-
tarium to be known as the Cascade
Sanitarium. 1t will be buig at Leav-
enworth on site to be determined
upon.
The stock is to be 1900 preferred
and 100 common, of the pa value of
$40. The common stock IS to be
placed by the trustees of which there
will be six. This stock will be sold in
lots of five so that there will be
twenty holders of common stock Il
will not be transferable, except in
case holder dies, becomes untitled
to exercise LIS duties as a holder of
such stock, or is about to move away
from this community, wher the trus-
tees will have the power to take over
such stock and place it with some
ether responsible preson in the COM
munity. This provision is made so
that at all times. the management of
the institution may remain in the
hands of sufficeny number of local
persons to ensure careful manage
ment and the safeguarding of the in
terests of preferred stockholders, of
which there necessarily will be a large
number distributed in such manner
that a majority of such stock can
scarcely be expected to participate in
the active management. But it is al
so provided that preferred stockhold-
ers will have a voice in deciding upon
the purchase and sale of real estate,
which is necessary under the law
The organization is under the pro-
visions of law for charitable institu-
tions. Provision is also made for the
payment of interest on preferred
stock at not to exceed per cent.
Besides the six trustees provided
for by the bylaws the Chairman of
the Board of County Commissioners
of Chelan County and the Mayor OF
the City of Leavcnworth are made ex-
officio trustees, to comply with the
law under which the organization is
perfected. One of the trustees will
be elected president, one secretary
and one treasurer.
For the purpose Of getting unde"
way the committee selected by the
Commercial Club are the ,'rganizer
and present trustees, but on June first
a new board is to be selected and then
two will be elected for two years, tw,
for four years and two for six years,
and every second year thereafter two
trustees will be elected for terms Of
six years. The trustees will select
superintendent and such other help
as deemed necessary.
The committee acting as incorpor
ators, is as follows:
r. B. Field, Anthony Blon eke, B. C.
Rutherford, DR.. Albert Lessing, Her
man Howe and H. S. Rearick.
Officers elected to serve until June
first are:
President-Anthony Bloneke.
Vice-President-H. S. Rearick.
Treasurer-B. C. Rutherford
Secretary-Herman Howe
1t is the intention of the trustees
(the incorporators) to secure the SER
vices of competent salesman to
canvass for the sale of the stoc
The proposition to erect sanitar-
ium here has met with the endorse
ment of large number of people
throughout the whole valley and
among those living in the country
above Leavenworth, and there seems
TO be no doubt of the success of the