June 13, 1902 Part II

Aika Handed to KKCC
Sointula Name Official
Sawmill and Logging

The Aika-paper has been handed over to the Kalevan Kansa. In the extraordinary meeting of shareholders of the Kust. Yht. Aika Pr. Co. [The Aika Publishing Company] on Sunday in Extension, 42 shareholders were present either representing themselves or being represented by proxy. Therefore the number of shareholders required by the rules, two thirds of all the shareholders with a vote (altogether 62), took part in making the decision. Those who had not paid $10 for shares they had ordered during the past year, did not have the vote.

The proposition of the board of directors to offer the paper and the business to the KK was the main issue, and it was unanimously accepted without a voting. When the terms were discussed, there were, however, some dissenting opinions. With a grand majority the terms were formulated as follows:

The KK will be liable for all the debts and engagements of the Aika-company. All the shares of the Aika-company that are demanded to be redeemed, will be redeemed by the KK at par value.

The KK will also pay back share payments that have only been partly paid, in case someone demands this. After the KK has met the demands of the shareholders during the current calendar year, the Aika-company will be seen as incorporated into the KK.

In the latest meeting of the KK board of directors it was decided, that during a two month period, members who are familiar with fishing or logging can come and work for the company even if they won’t be able to pay any part of their membership fee in money.

“Sointula” is now the official name of our town. It has been written as the official name into the first settlement agreement. From those who voted, 21 were in favour of Sointula, 4 in favour of Koti [Home] and 1 in favour of Rauhala [Place of Peace].

Sawmill machinery has now been bought for the KK. Transportation and assembling will require a few more weeks, but after that we’ll have boards from our own mill and soon houses will be rising in Sointula.

Logging will immediately begin on Malcolm Island. A donkey engine has been bought at a low price for the company and it will be brought to the island at the first opportunity.