Globe-Gazette from Mason City, Iowa on July 22, 1948 · Page 8
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Globe-Gazette from Mason City, Iowa · Page 8

Mason City, Iowa
Issue Date:
Thursday, July 22, 1948
Page 8
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14 July 21, IMS MMM City QI«i*-O*MlU. MMM Cltr. !a LEGAL NOTICES BUDGET ESTIMATE SCHOOL DISTRICT NOTICE:—The Board of Directors of Mason City Independent School District, Cerro Gordo County, Iowa, will meet August 1C, 1948. nt 7:30 P. M.. at Administration Buildin*. Taxpayers will be heard for or against the following estimate o£ expenditures for the year beginning July 1, 1948, and ending June 30, 1949. A detailed statement of receipt* and disbursements, both past and anticipated will be available at the hearing. B. L. MAIN, District Secretary. FUNDS Expenditures for Year >. 9 5 I Eh s* General 1710,662.00 * 857,564.16 $1,062,510 J152.750 $ 909.7BO Total General Fund... 710,662.00 857,504.16 1,062,510 152,750 809.760 Playground 8,062.04 8,619.16 11,500 11,506 Pension — Own ' System 76.6G8.92 88,627.73 104,000 52,000 52,000 Pension—State System 2,645.68 3,092.70 4,500 2,200 2,250 Assessor Revaluation . 19.000 19,000 Bond* and Interest ... 66,113.75 65,966.23 67,000 67,000 Special. Courses Fund 13,895.00 84,000 7,450 78.550 Total All Purposes ..5864.152.39 $1.037,765.00 $1,352.510 J214.450 $1,138.060 GENERAL FUND $245,175.05 Less Balance Reserved $245,175.05 $245,175.05 School House Fund $20,469.89 Est. tax per $1,000.00 assessed vnlue $ 49.468 Number of persons of school age .. . 7.642 Taxable valuation, 1947 23,201,827 Moneys and Credits, 1947 4,873,882 Building and Loan Shares .. 1.101,047 AEIICLE3 OF INCORPORATION of PORTLAND CENTER CO-OPERA- TIVB TELEPHONE ASSOCIATION, PORTLAND. IOWA We, whose names are hereto subscribed, hereby associate ourselves into a Coopen,Uve Association under the provi- ilon* of Chapter 499 of the 1948 Code of Iowa and acts amendatory thereto, assuming all the rights and privileges granted corporate bodies under said law. We do hereby adopt the following Articles of Incorporation. ARTICLE L Name Th« nama of this Corporation shall ba the Portland Center Co-operative Telephone Association, with its place of business at Portland, Iowa. ARTICLE II. Objects, Purposes and Power* Th« objects, purposes and power* of this corporation are the following: 1. To furnish telephone service to its members and others at the lowest possible cost consistent with the proper maintenance of Its telephone lines and other facilities. 2. To construct, purchase, lease, acquire or reconstruct in any manner and to own, hold, maintain, use, sell or dispose of telephone lines, exchanges and all equipment and accessories necessary to the purposes herein stated. 3. To purchase, lease or acquire in any manner and to own, hold, use, sell, mortgage, or dispose of any real estate or personal property, or any interest therein, deemed necessary, convenient or appropriate to the purposes and uses of this association. 4. To acquire, hold, use and exercise, *nd to the extent permitted by law, to sell, pledge, hypothecate and in any manner dispose of franchise, rights, privileges, licenses, rights-of-way and easements appropriate, convenient or necessary to the purposes of the Association. 5. To borrow money and otherwise contract indebtedness and give any suitable form of obligation or security therefor, including liens and mortgages upon its property. 6. To contract for exchange service and toll service and reciprocal telephone service with connecting lines, with local exchanges, and long distance companies in such manner as shall be deemed to the best interest of the company. ARTICLE in. Duration Th« corporate life of this association shall begin on the date the Secretary of State issues a Certificate of Incorporation and shall be perpetual unless changed by an amendment to these Articles or terminated by dissolution. ARTICLE TV. The authorized capital stock of this corporation is §10,000 divided into 80 •shares of common stock of the par value of S125.00 each. Each holder of common stock shall be entitled to one vote in the conduct of the affairs of this corporation. The common stock shall be eligible to patronage dividends, if any, not to exceed 6%. The capita! stock authorized may be Increased by a majority vote of the holders of common stock at any regular stock holcers meeting or at a special meeting called for that purpose by the adoption of an amendment to these Articles of Incorporation. ARTICLE V. Distribution of Earnings The directors shall annually dispose oi the earnings of the Corporation in excess of its operating expenses, as follows: a. Provide a reasonable reserve for depreciation, obsolescence, bad debts, or contingent losses or expenses. b. At least 107o of the remaining earnings must be added to surplus until surplus equals 30% of the total of all capita paid in by the stockholders. No addition shall be made to the surplus whenever ft exceeds 507» of such total. c. Not less than 1% nor more than 57o of such earnings in excess of reserve may be placed in an educational fund to used as the directors deem suitable for teaching or promoting co-operation. d. The directors may use the surplu. earnings to pay the obligations of the corporation or add to the capital of th< corporation. All persons who are user: of the service furnished by this corpora tion may become members by applyin; to the Board of Directors for membershii and paying for and receiving one shar of common stock, and no person shall b furnished the service of this corporation without first having received and paic for one share of common stock. ARTICLE VI. The common stock of this corporation shall not be transferable but if any holde of common stock dies or becomes inajl gible or Is expelled or ceases to patronTz this corporation for two consecutiv years, his common stock shall forthwlt] be canceled and he shall receive on th cancellation of said stock, the par valu of same, minus unpaid obligations to th corporation. ARTICLE VII Manaf ement The affairs of this corporation shall b conducted by a board of five director who shall be elected from the holder of the common stock. One director sha be elected for one year, two directors fo two years and two directors for thre years. Th« directors shall elect from thel i own number a President, a Vice Pros dent, a. Secretary and Treasurer. Th ffice of Secretary and Treasurer may be eld by one person. ARTICLE VIII. EUetlon of Officer* and Director*— Meetings—Fiscal Year The annual election of -director* by the :ockholders shall be held at the principal lace of business on the 4th Tuesday of /larch of each year and a quorum of .ockholders shall be not less than flfty- ne per cent of the total number of common stockholders of record. The annual election of officers by the Irectors shall be held immediately fol- ing the adjournment of the stockhold- rs' meeting. No director shall hold office or more than two terms in succession. nttl the first election shall be held on he 4th Tuesday of March, 1949. the fol- owlng persons shall be directors: Henry Gruben, President. Paul Cahalan, Vice President. Harry V. Pippert, Secretary and Treas- rer. and the following shall be the officers: Henry Gruben, President. Paul Cahalan, Vice President. Harry V. Pippert, Secretary and Treasurer. The officers of this association shall old office for the term of one year or nti! their successors are and have quail- led. ARTICLE IX. Special meetings of the stockholders may be called at any time by the Presl- ent, giving 10 days notice In writing to le stockholders, and shall be called by im at any time upon the request of the najority of the common stockholders, nd in case of his negligence or refusal o call a special meeting, 25% of the tockholders may join in a call for a pecial meeting, and such meeting shall ave the same force and effect as though ailed by the President. At all meetings f the stockholders each stockholder shall e entitled to but one vote regardless of he number of shares held by him. This ssoclatlon may make and alter by-laws t pleasure by a two-thirds vote of the ommon stockholders present at any egular or special meeting called for that urpose, and may authorize the directors o do so. ' ARTICLE X. These Articles of Incorporation may e amended by a majority vote of the tockholders at any regular meeting or t a special meeting called for that pur- osc, or ten days' written notice to the tockholders of record. ARTICLE XI. Any officer or director may be removed at any regular meeting or special meeting called for that purpose by a najorily vote of all the common stock- lolders. Any person who mny be a telephone jser or a prospective telephone user in he territory served by this Association and who becomes the owner of one share :>£ common shall become a member of his Association. ARTICLE XII. On dissolution or liquidation of this issociation. the assets shall first be used o pay all legal obligations of this associa- lon. Second, to pay in equal shares to he holders ot the common stock. ARTICLE XIII. The private property of the stockholders of this corporation shall be exempt rom corporate liability. This Article will not be changed except by a unanimous vote of all the common stockholders. ARTICLE XIV. The by-laws of this association may be amended by a majority vote of the stockholders at any regular meeting or at a special meeting called for that purpose, or ten days' written notice to the stock- lolders of record. 1NCORPORATORS: BEN F. EMMERT HUGH HUGHES PAUL CAHALAN, Vice President HARRY V. PIPPERT Secretary and Treasurer HENRY GRUBEN, President ' ELMER W. KRAUSE F. A. KRAUSE By E. W. Krause, Agent RAY GRUBEN STATE OF IOWA, County of Cerro Gordo, ss. On this 4th day of June, 1948, before me, a Notary Public in end for said County and State, personally appeared Hen F. Emmert, Hugh Hughes, Paul Cahalan. Harry V. Pippert, Henry Gruben, Elmer W. Krause, F. A. Krause, Ray Gruben, said persons being to me personally known to be the identical persons whose names are subscribed to the foregoing Articles of Incorporation and each for himself acknowledged that the same to be his voluntary act and deed for the uses and purposes thereon expressed. Witness my hand and Notarial Seal at Portland, Iowa, Cerro Gordo County, the day and year last above written. BERNARD R. DUNN. A Notary Public in and for Cerro Gordo County, Iowa Attend Weddlnr Dumont—Mr. and Mrs. Edwin Pfaltzgraff and Clellan, Mr. and Mrs. Fred Pfaltzgraff and Mr. and Mrs. Carl Boeckemeier, Mrs. Dave Lupkes, Mrs. A. W. Stock and Mrs. Fred Nolte attended the wedding of Richard Pfaltzgraff and Mary Snyder at Rice Lake, Minn., Tuesday. Cook's Grocery Highway 18 East ... By Taylor Bridge East Edge of Mason City WATERMELONS 3 54* LB FRESH ALL MEAT Ground Beef NONE HIGHER Decker's lowana ALL MEAT Skinless Wieners A.t«- U.S.GOVT. GOOD Govf. Grading I* Your Best Assurance of Getting The Quality You Pay For \ NATIONAL'S VALU-WAY PORK LOINS ,49' Whole or Full Half RATH'S MULBERRY LEAN SLICED BACON r U. S. GOVT. GOOD/' GRADE MILD CURE 43 C Full Slices Cut and Trimmed Valu- Way ROAST ,63' "You Can Cut It With Fork!" HALIBUT STEAK >». ROSEFISH FILLETS » 27 FOR YOUR SHOPPING CONVENIENCE THESE PRICES ARE GOOD THURSDAY, FRIDAY, SATURDAY JULY 22, 23,24 GREEN GIANT PEAS FRESH DRESSED FRYERS lb - S3* HENS HAZEL SALAD DRESSING NEW 1948 PACK 2 No. 303 Cans STANDARD TOMATOES NEW 1948 PACK 2 No. 2 Cans BUTTER CLOVER CREST FARM FRESH 45c BABY FOOD Jar NATCO ROOT BEER GINGER ALE OR COLA Pl»s Bottf« Deposit 90 SCORE Plus Bottle Deposit HARTMAN'S MILK 2 Quart Bottle DOZ. ENRICHED WHITE TOP TASTE BREAD CHAKM1N TOILET TISSUE 4 »*„. 33c ROUSKIIOIA) INSTITUTE CLEANSER PADS . rkt 21 f 11 *&* LIBBY'S STRAINED 6 "^ 49c U l-lb. Loaf 2 V/2-lb. Loaves 33 IVORY FLAKES 34c Larfl * SOAP FLAKES I IVORY SOAP TOILET SOAP LARGE SIZZ 2 IARS 35c BURRY'S CRAX 12-oz- Pkg. CHOC. MINT, ORANGE, COCONFT. "UTTEKSCOTCH. ASHT. FI.AVOKS SUfER WETTING ACTION FAB 34c Larq« SALERNO ROLL COOKIES 2 ^ 29c .-«. 21 c 13c 25c PLAIN OR CINNAMON BUTTER KRUST TOAST SALTED JCST RIOUT • TINY TIM PRETZELS.. POWDER OXYDOL 34c Larqt PVg. CAMAY Salerno Butter Cookies Y°£ TOILET SOAP 3 .':?. 27c BATH SIZE 2 Bar* 27c

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