The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-07-13
PETITIONS ron lNCoMPORATION.

PETITIONS FOR INCORPORATION.
STATE OF GEORGIA, CHATHAM
COUNTY. TO the Superior Court of Chat
ham County, The petition of Charles S.
Ellis, and John r, Young Of Chatham
county, Georgia, and of Charles b. Parker
of Telfair county, Georgia, shows:
First That they desire for themselves
and such other persons as they may asso-
ciate with them, to be incorporated under
the name and style of
THE ELLIS-YOUNG COMPANY.
Second, That said company's principal
place of doing business viii be in the city
of Savannah, county of Chatham and state
of Georgia, but your petitioners desire that
said company be authorized to do business
at any other place or places within or
without the state of Georgia Whenever
in the opinion of It's board of directors
the extensions and exigencies of it's said
business may require 1t.
Third, That the objects of your petit
toners association and the principal bus
mess they propose to carry on under said
corporate name are as follows: The do
ing of the business of naval stores mer-
chants; Of a general commission and fac
forage business in merchandise and arti-
cles of al kinds with the right of advanc-
ing money on real and personal property
of every kind of manufacturers of naval
stores, with the right of operating naval
stores farms and Of owning and leasing
lands, timber. timber lands and all other
property, real and personal, of every ma
ture and description, that may be neces-
sary or usual in the manufacture of naval
stores and IN the operating and conducting
of naval stores farms; OF wholesale and
retail grocers; and Of dealing In mules and
horses and In all such implements, tools,
utensils and machinery as are used on
naval stores farm and i'm the m
uring and marketing of the products there
Of; and generally the doing OF all matters
and things usual In and incident to the
business aforesaid.
Fourth, That they desire that said com
pany may be authorized and en-
powered to acquire, own and enjoy all
kinds of real and personal property, and
to acquire, hold and dispose OF the stock
of other corporations, and to form CO.
partnerships with other firms and corpor-
ations for the conduct of the businesses
aforesaid, and to sell, mortgage, pledge,
hire or convey the property OF said cor
poration, or any part thereof, at WILL and
to reinvest at pleasure, and to have agents
and agencies anywhere In the state of
Georgia or elsewhere, for the carrying on
the said businesses, and to borrow money
and secure the same by collaterals, per-
sonal security, mortgage on their prop
erty, or by deed to their property or other
wise, and to issue bonds notes, deben-
lures or other obligations therefor, and
to make contracts of any kind whatso-
ever for the furtherance of the business
Of said company; to issue common and
preferred stock stockholders who have
paid their stock subscriptions in fun to be
In no wise liable for the debts of said
corporation, or for It's torts); and gener-
ally to exercise all powers incident to cor
poratlons of like character.
Fifth: That the amount of capital to
be employed by said company and to be
actually paid In will be the sum of two
hundred thousand (200,OOO dollars, divid-
ed into shares OF one thousand q 900 dol
lars each; but your petitioners desire that
said corporation shall have the right and
power of increasing said capital stock
from time to time to any amount not ex-
ceedlng one million Q,O0000O) dollars when
ever In the opinion of Its board of direc-
tors, such Increase may be necessary or
proper, and with the right and power, In
the discretion OF It's board of directors,
of decreasing said increased capital stock,
from time to time, to any amount not be-
low the original capital stock of two hun
bred thousand (20O,OOO) dollars; and said
board Of directors to nave the power and
authority of fixing the proportion OF said
total capital stock that shall be preferred
stock and the proportion that shall be
common stock.
Your petitioners ask that lien be given
TO said company upon all of the shares
OF common stock Of any stakeholder who
may be indebted to said COM
pany with the right TO sell
and dispose Of such common
stock or such portion thereof as may be
necessary to pay OF such indebtedness
and that the corporation be given the
right to refuse TO transfer such common
stock until full payment OF such indebted
ness provided that notice of such lien,
right and power, be embodied in the GER
tihcate or certificates Of common stock Is
sued and 20 be issued.
Sixth That your petitioners desire TO be
Incorporated for a period OF twenty (20)
years with the privilege OF renewal at
the end OF that period; and with the
further privilege OF dissolving said cor.
poration and winding up its business at
any time on a vote Of the stockholders
owning and holding not less than two
thirds Of the total capital stock. at a meet
ing OF stockholders called for that pur.
pose, written notice OF which meeting
shall be mailed 10 each stakeholder at
least ten O0) days prior 10 such meeting
Wherefore your petitioners pray that an
order may be passed declaring this appli.
cation granted. and that your petitioners
their associates and SUCCESSORS be incor-
porated under the name. with the objects
for the purposes, and for tho time afOre-
said. and with all such rights, powers and
privileges as are above set forth. and all
such others az are usual or incident 10
corporations Of like character.
DENMARK. ADAMS g. FREEMAN.
Attorneys for Petitioners.
Filed IN the Office OF the clerk OF the
suDerior court Of Chatham county. Geor.
gla. June n. 1897.
JAMES L. MURPHY,
Deputy Clerk Superior Court, Chatham