The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1906-03-24

i ~ ~ - N--N-C1~i4 " oclU C0Fn0rqrfr-
shall be to buy, sell, handle, manrf,o
fture and deal in dTy-goods. not;oT.
! shoes, clothing, sundries, gents a..
nishings, hardware, hay, grain aII
feed, fruits and produce. and or. 81
kinds Of merchandise; naval stor..
agricultural products, teas coToS,'
and spices; to buy, sell, mortgso,
and lease lands and other IS,
estate; to act as agents, brokers al a.
commission merchants in oealiny -
any or, all of the commodities -
said; to borrow money and In soo,,-.
same by the giving of notes how,
mortgages, deeds. or other ohio
tons therefor; to buy, sell. or b6rI
stocks and bonds Of other comDani.,
or corporatins; to receive pavma,,
for the capital stock subscribe5 =,
in money or in property at a Inc.
valuation thereof in the cOngida-,
ton or judgement Of the board of n.
rectors; and generally to exercis,
such powers as may be incident =,
convenient to the proper condurr -
the business Of said corporation. ami
to have, exercise and enjoy all Ia
rights, powers and privileges fpcfda--
to corporations organized and eyig.
ing under and by virtue Of the law,
Of the State of Florida.
III. The amount of capital s-o.y
of said corporation shall be rwenf-.
five thousand dollars (S25. OOOO0I 4
vided into two hundred and fifty t25m
shares of one hundred doTsv
/ (S10000) each. Ten per cent. OF saf
capital stock shall be subscribed s-4
paid for before said corportion s,lI
transact any business. All or ar
lpart of said capital stock of said 90.
rOration may be payable or ssui
for the purchase of property az
just valuation thereof to be fixed Dr.
the board Of directors at any ANIMAL
meeting or meetings to be called br
that purpose.
w. The term for which said 1o--
pOration shall exist shall be for u9s-
ty-nine (99) years.
V. The business of this COrp0r-
ton shall be conducted by the follow.
ing officers: a president. vice-pr5...
dent. secretary and treasurer, and a
board Of three directors.
The offices of secretary and vice
president may be held by one and thu
same person. The number of difcc-
tors may be changed from time 20
time by the Bylaws. but at no timo
shall be less than three, nor mere
than five.
The board of directors may applut
other officers and agents Of this cor.
pOration having such powers, duties
and terms of Office, same TO be pre-
scribed by the Bylaws.
The directors shall be elected by
the stockholders at each annual
meeting. All other officers of chs
corporation shall be elected annually
by the directors at a meeting 10 be
held on the same day.
The Offices of president, yice-pre..-
dent, secretary and treasurer beng
filed from among their number.
The annual meetings Of the cOrpor-
alton shall be held on the first Mon
Gay in March of each year. The due
of the annual meetings may be-
changed by the Bylaws.
The incOrpOnatOrs shall meet on
the fourth day of March. 1907, being
the first annual meeting, at the Otica
of this corporation. in the City Of
Pensacola, Escambia County, FlOrid.
at eleven O'Clock, a. m, for the pUr
pose of adopting Bylaws, hOlj.ns
the first election of. officers and con-
pleting the organization of this cor
pOratiOn.
Until the officers are elected al tho
first annual meeting, and shall as
qualified. the business of this cOrto--
alton shall be conducted by the fol-
lowing officers: w. W. Watson, p-es-
dent; G. W. Parker. vice-presilea.,
G. w. Parker, secretary, and Z. l4
Reese, treasurer. with w. W. Watson
c. w. Parker and E. L. Reese as IL
rectOrs.
vi. The highest amount of indr5.'
edness or liability to which this cor
poration shall at any time subjcc. .-
self shall be in an amount CqU. .1
twice the amount of its capital -.',..
VII. The names and places NJ
residence of the subscribing lne'.
porators, together with the amour NJ
capital stock subscribed for by e-cI
are as follows:
w. W. Watson. residing al PclsF
cola, Florida 10 shares.
c. w. Parker. residing at Pelsa'
cola, Florida. 20 shares.
Z. L. Reese, residing at Pensac'a'
Florida, 20 shares.
w. W. WATSON,
C. W. PARKER,
E. L. REESE.