The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1924-05-28
May FL May Is.
Articles Of Incorpora.
tiOn
OF THE FARMERS CREDIT
COMPANY OF REDWOOD
FALLS, MINNESOTA


We, the undersigned, do hereby as
sociate ourselves under Chapter Fifty
eight (58), General Statutes of 1918
Of the State of Minnesota, for the
purpose of forming corporation for
pecuniary profit, as authorized under
Section 6144 of said General Statutes.
ARTICLE NAME.
The name of this company shall be,
The Farmers Credit Company of Red
wood Falls, Minnesota.
ARTICLE II.-PURPOSES.
The purposes of this company are
and the general nature of its bust
ness shall be; to advance and, or lend
money to, and, or furnish and, or pro-
cure credit or credit facilities for per-
sons, firms or corporations engaged
in the production and, or, marketing
of staple agricultural products, in
GLIDING live stock and poultry; and to
further and carry out such purposes
the company may borrow money, buy,
sell, negotiate, transfer, or rediscount
negotiable and other securities or
evidences of debt, with or without en-
dorsement or guaranty.
ARTICLE III.-PLACE OF
BUSINESS.
The principal place of business of
this company shall be at the City Of
Redwood Falls, County of Redwood
and State of Minnesota.
ARTICLE IV.-DURATION.
The corporate life of this company
shall continue for and during a period
of thirty years.
ARTICLE V.--CAPITAL STOCK.
The total capital stock authorized
is Twenty Thousand and No-1O0
Dollars, divided into 1000 shares of
common stock at the par value of
$1,000 each, to be paid in as and when
the Board may require.
The amount of capital stock sub
scribed is Twenty Thousand Dollars.
The amount of stock paid for in
cash is Twenty Thousand Dollars.
The amount of actual capital which
this company owned and possessed at
the time of executing these Articles
is Twenty thousand Dollars.
ARTICLE VI.-DEBTS.
The total liabilities of the company,
direct or contingent, and including
guarantees and Endorsements, shall at
no time exceed ten times the amount
of the paid up capital stock.
ARTICLE VII.-ANNUAL
MEETING.
The annual meeting of this COM
pany shall be held on the first Tues
day in July of each and every year
at s o'clock p. NJ, at its principal
place of. business.
ARTICLE VIII.-AMEND-
MENTS.
These articles may be amended in
the manner provided by law
ARTICLE IX.-DIRECTORS.
The governing body of the company
shall be a Board of Directors consist
ing of five members, elected from the
stockholders, at each annual meeting,
each Of whom shall hold office for one
year or until his successor is elected
and has qualified. The names and
address of the members of the first
Board of Directors are:
NAME ADDRESS
A. M. Dennistoun, Redwood Falls,
Minnesota
r. W. OfLn, MORTON, MINNESOTA.
Fred r. Orth, Redwood Falls, Mime
sofa.
E. F. Lindeman, North Redwood, Min
nesota.
Henry Beckman, Morton, Minnesota.
ARTICLE X.-OFFICERS.
The names of the officers for the
period ending with the first annual
meeting are:
NAME OFFICE
A. Nj. Dennistoun- President
f. w. Ortiz Vice President
Fred r. Orth Secretary Treasurer
Forthwith after each annual meet
ing, the Board of Directors shall elect
from their number President and
Vice President and from their number
or from the stockholders a Secretary
and Treasurer: the latter two of
fees NAV be held bv one person. Each
officer shall hold his office until his
successor has been duly elected and
shall have entered upon the discharge
of his duties.
IN TESTIMONY WHEREOF, We
have hereunto set cur hands and seals
this 18th day of May A. d. 1924.
In presence of.
j. D. Mclean
Frank Orth
E. j. Zorn.
n nr