The Palatka news. [volume] (Palatka, Fla.) 1905-1908, 1907-04-05
Proposed Charter OF the Castle Tim
Der g. Naval Stores Company.

Der g. Naval Stores Company.
ARTICLE l,
The name of this Corporation shall be
-rASTLE TIMBER d NAVAL STORES
COMPANY, and its principal place OF Dusl-
ness shall be mt Long station, putnam
County, Florida.
ARTICLE II.
The general nature of business or bust
nesses OF this Corporation shall be the DuS-
ing selling, leasing, operating, comforting
and holding of pine timber lands and cNp-
rpss timber lands. and other lands in the
state OF Florida The purchase, sale, manu-
facture and manufacturing, cutting ana
saving ul pine lumber and logs ana cypress
lumber and logs. The manufacturing, max
ing. buying and selling of turpentine, rosin,
naval stores and by-products OF the same.
The owning, building, buying. running ana
operating Of mills, buildings, tram and
steam roads and turpentine stills, and the
altering and repairing of the same. The
buying and selling OF all kinds of merchhn-
disc. The buying, selling, holding ana mn
proving of ali kinds OF real estate, ana the
buying, holding and selling any other
property in the state of Florida, in the
United States of America, or in any foreign
country, aud to do such other business as
may be necessary at any time.
ARTICLE III.
The amount of Capital stock of this Cor
poratlon shall he fifty thousand dollars /;
and its said Capital stock shall be divided
into five hundred shares, and the par value
ul each share of said Capital Stock shall
he one hundred dollars. Shid Capital Stock
being all subscribed, ten per cent OF same
has been FULLY paid in, aud said shares OF
said Capital Stock shalt be non -assesSahle
ARTICLE ~.
This Corporation shall continue to he and
exist perpetually unless dissolved according
to law.
ARTICLE V.
ts,ts
ration shall be conducted and managed by
President, a Board of five Directors, II
Secretary, Treasurer, and General Man
agpr.
The Directors shall be elected by the
Stockholders at each annual meeting. and
which annual meeting OF said stock II old
rrS shall he held on the tlrst Tuesday IN
March OF each and every year, and said d.
rrcturS shall hold their offices for the term
OF one year, or until their successors shall
he duE elected and qualified.
The President, Secretary, Treasurer ana
the General Manager, shall be elected by
the Board of Directors from among the
stock Holders except the President, who
shall I've chosen from the Board of Directors,
III meeting held Immediately after the adj
lnurnment of each annual meeting OF the
stock Holders, and said Officers shall be
elected for the term of one year, or until
lhelr successors shall he duly elected and
qualified.
The preliminary business or businesses Of
H. COOK, President, and II. @. Middleton,
"eneraI Manager, both OF Pomonn, Florida,
ana W. II. Ellis of PlatteViIle. Wisconsin,
ana Fred Wins, Treasurer, OF Quincy, Illt-
mons, or by majority of the same, until
such Time ms this Corporation shall be leg
any organized and chartered according to
the laws of the State OF Florida, and Its
hrst annual meeting held, at which annual
meeting an election of the permanent
oLlcers, as are provided for in the BYLAWS
held.
ARTICLE VI.
me highest amount of Indebtedness of liza
mllly towhich this Corporation can at any
time, subject itself shall he one hundred
Thousand dollars, t$lOO,OOO.0Ol.
ARTICLE VII.
lhe names and residences of the subscrib-
rFS OF this Corporation and the number of
Shares otStock subscribed for by each dre
as follows:
W. H; Cook, Pomona, Florida, thirty
5 lares of said stock