The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-06-22
PETITIONS ron IxooNPoRATIoN.

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 win be in the city
of Savannah, county OF Chatham and state
of Georgia, but your petitioners desire that
said company be AUTHORIZED 20 do business
at any other place or places within or
without the state of Georgia whenever
in the opinion OF its board of directors
the extensions ana exigehcies Of its said
business may require II.
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 q 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 paval
stores farms, and Of owning and leasing
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 farms, and in the manufact-
uring and marketing of the products there
Of; and generally the doing of all matters
and things usual In aud incident 10 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 10 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 full to be
in no wise liable for the debts of said
corporation. or for its torts); and gener-
ally to exercise all powers Incident TO cor
porations Of like character
Fifth: That the amount OF capital 10
be employed by said company and to be
actually paid in will be the sum OF two
hundred thousand 10000 dollars, divld-
ed into shares OF one thousand 1000 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-
ceeding one million 100000 dollars when
ever. In the opinion Of It's 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. 20 any amount not be-
low the original capital stock OF two hun
dred thousand (200,000 dollars; and said
board OF directors 10 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
10 said company upon all OF the shares
OF common stock Of any stockholder who
may be indebted 20 said COM
pany with the right 70 sell
and dispose OF such common
stock or such portion thereof as may be
necessary 20 pay on such indebtedness,
and that the corporation be given tho
right 70 refuse 20 transfer such common
stock untn fun payment OF such indebted
ness, provided that notice Of such lien.
right and power, be embodied IN the GER.
ufcate or certificates OF common stock Is
bued ana % be Issued
Sixth; That your petitioners desire 10 be
Incorporated for a period OF twenty COD
years. with the privilege OF renewal at
the end Of that period. and with the
further privilege Of dlssolving said cor
poration ana winding up its business at
any time on vote Of the stockholders
owning and holding not less than two