The Savannah morning news., 1901-04-11
LARGE POWERS ASKED.
Plea for Incorporation of National
Tank and Export Company.

Plea for Incorporation of National
Tank and Export Company.
A petition for the Incorporation of the
National Tank and Export Company was
filed yesterday in the office of the clerk
of the Superior Court. The incorporates
named are John R. Young, j. B. Ches-
mutt L. Mcneil. j. P. Williams and B.
f. Billiard
While the capital stock of the new cor
poration is fixed at a small amount $25,-
0o0, permission is asked to increase it any
time to 100000 in the discretion of the
directors Of the company, and the pow
ers with which the corporation asks to
he vested are sufficient to have it con-
troll any phase of the naval stores bust
ness Under its charter, if it is granted
in terms of the petition, the new concern
would have the legal right to absorb,
without any amendment every naval
stores company and firm in Savannah.
Authority is asked to engage in the
manufacture. purchase and sale of IL
kinds Of naval stores and of the animal
and vegetable oils and other products al
lied with the business first named. The
company wants power to engage in the
manufacture and sale of tanks, casks,
barrels and such like essentials of the
business of naval stores operators.
Il asks authority to conduct a general
brokerage and commission business in the
products which it will handle, to own
and operate railways, in any part of this
state or the United States, and to own
and operate sailing and steam vessels.
1t Is not DESTROYS, however, of engaging
IN the business of a common carrier of
lis prospective railway and ships to ham
ole Its own product and those which it
buys, and those which it is especially en-
gagged 70 transport from place to place.
authority IS asked also to purchase and
nod the stock of other corporations. This
Is an unusual corporate privilege.
IN addition to these specific powers, the
new company wishes to be vested with
me general powers granted all corpora
IONS under the laws of the state. The
petition was filed, on behalf of the in
corporators, by Messrs. Denmark, Adams
* Freeman
blds for the construction of steel tanks,
ol capacity of 1000 barrels, are asked by
Committee, and it is expected that they
VIII De submitted to Mr. John r. Young,
chairman, by May /. 1t is probable there
WIN be hve of the tanks, though the num-
Der mas not been specifically decided upon.
Inc probable cost for each tank is men
uoned as about 5000. The, bids, however.
may snow considerable less than that
amount
NO locations for the tanks have yet
D9" nAed upon, but it is believed they
WIN De established near the railroad ter
l'oals' They will be divided as convent
en.e VIII demand the establishment of
one or more tanks at the terminals of
each railroad.
10y the establishment OF system of
ans IL is expected to exert control,
measure over the supply and de-
5lal' Tor turpentine. An excess of pro-
W.. could be held at any time a fair
, .,le could not be secured. The steel tanks
VII mean great economy. as there will be
'.s s,FIng in cooperage, leakage and evap.
D" ls'i charter was secured for the
s5 3.el.uaa Tank and Supply Company. but
Image was not taken of it within the
be Prescribed by law. so that it has
"a necessary for those then interest
~ the prospective tank and supply
'"i'ny 10 secure a new charter.