The Savannah morning news., 1902-09-02
PETITIONS ron INCoRPoRAr,o,

county To the Superior Court of said
county. The petition of Herman
Myers, w. W. Mackall, George ]. Bald
win, John Flannery ]. H. Estill and ]
P. Williams, all of said county and
state respectfully shows
l. That your petitioners desire for
themselves. and for such other persons
as may hereafter be associated with
them, to be Incorporated under the
laws of the state of Georgia as a BODY
polite and corporate under the name
of Savannah Dry Dock and Ship
Building Company
2. The principal place Of business Of
said corporation will be in the county
of Chatham and state of Georgia; but
said corporation desires the right to
establish and conduct branch offices in
such other places in the state of Geor-
gia and in the United States as its
board of directors may from time to
time deem proper.
3. The said corporation shall exist
for the period of twenty years from
the date of its incorporation, and shall
have the privilege of renewal at the
expiration of said period.
4. The object of their association is
for business purposes, and the partic-
ular business they propose to carry on
is the following, to wit:
(a) To build, construct and repair
steamships, ships and vessels and other
water craft of every description; and
to receive, purchase, own, build, con-
struct, repair, erect or otherwise ac-
quire and to maintain and operate dry
docks, marine railways foundries,
workshops and all other buildings, ma
chinery and plants requisite. adapted,
or suitable to the purposes aforesaid
OBJ To do a general stevedoring
business, and to own and operate the
necessary tools. appliances and con-
tr1vances for carrying on the same
(c) To do a general business in
warehousfng and storing ships cargoes
and all other goods, wares, merchan-
disc, commodities or articles of every
KIND, and to purchase, own, lease, build
or otherwise acquire and to maintain
and operate wharves, warehouses.
storage houses and lands therefor.
Cd To purchase or otherwise re-
ceive and acquire. and to own, i'm
prove, use, control and occupy all such
real estate. and leasehold estate, and
lands and water rights, and such
buildings. improvements and other
premises AS may be found necessary or
convenient to transact or facilitate its
business, and to sell, let or underlet,
improve, repair, or alter the same:
and also to purchase or otherwise ac-
quire all such machinery, tools, imple-
ments, utensils, appliances, contriv-
anceS and other property of every kind
necessary or suitable for its business
and to sell or otherwise dispose of the
same at ito pleasure; and generally to
conduct and manage its business in its
dltterent departments and details by
all lawful ways and means it may
deem necessary, advisable or expedient
Tor the success of the business.
.. The said corporation shall have
the following powers, to-wit:
(a) The right and authority to en-
ter into contracts, and generally to do
and perform all acts and things Incl
dent to the objects and business of said
corporation as hereinbefore set forth:
to have corporate seal; to sue and be
sued in its corporate name and ca
pacity; to make bylaws, not fnconsist-
ent with law, and to prescribe therein
the place or places where the stock
holders and directors may respectively
mold their meetings, either within or
without this state; and to provide for
the directors and officers of said cor
poration, their number, qualification,
titles and terms of office.
(b) The right and authority to bor-
row money or incur debts and to evil
dence its indebtedness by coupon bonds
or other obligations in writing, and to
secure the same by deeds OF trust or
mortgages to and on all it's properties
and franchises or any part thereof
(c) The right and authority to buy,
sell, and own stocks, bonds and other
securities or obligations whether nat
lonal. state county, municipal or Of
other corporations.
I'D The right and authority to sell.
lease, assign, transfer and convey its
capital stock, property and franchises
70 OF TO consolidate the same with
those of any other corporation charter
eo Tor similar or kindred purposes; or
to purchase, lease, consolidate with,
absorb and merge into itself the capi-
tai stock, property and franchises of
any other such corporation; and to is
sue and use its bonds and stock for
the purpose of paying or exchanging
the same for, or retiring any bonds or
stock issued by it or such other COM
pany so merged, purchased or CONSOLE
dated with, to such amount as may be
authorized by its charter or any
amendment thereof, and to secure the
same, in case of bonds. by a mortgage
or deed of trust upon the entire prop
critics and franchises so merged or con-
solidated or any part thereof
(e) the right and authority to exer-
else and enjoy, in addition to the
powers hereinbefore set out, all other
powers and privileges incident to pri-
vate corporations for business purposes
as are prescribed by the laws of Geor-
gia.
6. The amount of capital to be en-
ployed by said corporation actually
paid in shall be the sum of six hun
dred thousand dollars divided into
shares of one hundred dollars each. of
which three hundred thousand dollars
shall be common stock, and
three hundred thousand dollars
snail be preferred stock bear
ing six per cent. annual accumu-
lative. dividends that is no dividend
can be declared and paid on the COM
mon stock until all accrued dividends
on the preferred stock shall have first
been paid. The subscriptions to said
capital stock may be made and may
be received by said corporation either
in money, labor, services or property.
T. In addition to all the powers,
hereinbefore, mentioned, necessary or
incident to the carrying out of the OBJ
Jects above enumerated, the petition
ers desire that said corporation shall
have the following special powers. to-
wit: The right and authority from
time to time by a majority vote of the
stockholders to increase the amount of
said capital stock both common and
preferred to any amount not exceeding
one million dollars. apportioned equally
between said common and said prefer
red stock; and in like manner to de-
crease its capital stock from time to
time to an amount not less than three
hundred thousand dollars, apportioned