The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1925-06-26

the name Of the Company around
the border and the date of the or
ganiZation in the centre.
Article 5. The objects and pur
poses of this corporation shall b,
as follows:
1. To deal in, sell, operate and
let for hire automobiles, motor
cycles and motor vehicles of every
kind, nature and description.
2. To build, maintain and op-
crate buildings, storage houses
and garages for the storing, car
ing for and keeping for hire
therein of automobiles, motor
cycles and motor vehicles of every
kind, nature and description.
3. And generally, to buy. sell
and deal in all goods, wares and
merchandise necessary or incid-
entail to the operation, repair or
equipment of automobiles, motor
cycles or motor vehicles OF any
kind and all kinds, manufacture
and descriptions.
4. And for the purpose of
carrying on the business afore-
said to buy, sell and convey prop
erty, both real and personal, as
the same shall be necessary, and
generally to do all things tina.
may be necessary to the conduct
ing Of said business.
Article 6. The business AMI
prudential affairs of this corpora
ton shall be managed and controlled
by a board of three directors, to b:
elected annually at the annual meet
ing Of the stockholders.
Article z. The names and resi-
dences Of the persons who are thu
incorporators and who have beer
selected as the Board Of Directors Z
manage the business and prudential
affairs of this corporation until the
first annual stockholders meeting
are: B. w. Bnshman, 512 Parl
Street, Hibbing, Minnesota, whc
shall also serve as President unti
the first annual meeting; Fred Win
berg, 2606 st. Louis Avenue, Hib
bling, Minnesota, who shall alst
serve as Vice President and Treas
urer until such annual meeting; ane
Mary Peterson, 1920 St. Louis Ave.
Hibbing, Minnesota, who shall alst
serve as secretary until such annua
meeting.
Article 8. The annual meeting
of the stockholders for the election
of directors and for the transaction
of other business shall be held a
the office of the corporation on the
first Tuesday after the first Monda!
in January of each year, beginning
in 1925. The vote in the election
for directors, shall be by ballot, ane
the election may be conducted il
such manner and form as may bt
provided by the bylaws. The direct
ors so elected shall hold Office fol
one year and until their successor
are elected.
Article 9. In all elections for di
rectors and in all matters submitted
to a vote of the stockholders eaci
stakeholder shall be entitled to one
vote for each share Of common stool
owned by him for each director ant
upon each proposition so submitte !
Article 10. Immediately aftel
the election Of directors, or as soor
thereafter as practicable, the direct
ors shall meet and elect from then
number a president and vice presi
dent, and from their number o.
from the stockholders a secretar!
and a treasurer; any two offices ex
cept those Of president and vice
president may be held by one per
son. The officers shall hold thei
respective Offices until their success
sors have been elected and have en-
tered upon the, discharge of thea
duties.
Article IL. The amount of tn,
capital stock of this corporation
shall be one hundred thousand dol
lars ($100,000l, which shall be pait
in in money or property, or both, il
such manner, at such times, and il
such amounts as the Board of Di
rectors shall order. Such capita
stock shall be divided into common
and preferred stock. OF the com
mon stock there shall be fifteer
thousand shares, of the par value OF
one dollar each. OF the preferred
stock there shall be one thousand
seven hundred shares Of the pan
value of fifty dollars each. The
said eighty-five thousand dollars