Live Oak daily Democrat. (Live Oak, Fla.) 190?-190?, 1907-12-03

to maintain and operate for profit a
wholesale drug business including
the manufacture of drugs and chemi-
Gals, and all other articles incident to
said business; to maintain and oper-
ate for profit a retail and wholesale
mercantile establishment, engaging
therein in the buying, manufacturing
and sale of all classes OF commodities
incident to said business; to buy,
own, rent or otherwise use and dis
pose of real estate, houses and lots
and timber lands; to enjoy all the
benefits, privileges, rights and fran
chises guaranteed by the laws of the
State of Florida, in the conduct of
the aforesaid business.
Article 8. The amount Of the
capital stock of said corporation shall
be Ten Thousand Dollars (S10,000),
consisting of one hundred shares,
which said shares shall be of par
value of one hundred dollars ($10O)
per share, and said capital stock may
be paid for in cash, merchandise,
labor and services, all of which shall
be approved in value by the Board Of
Directors; said capital stock may be
increased in the discretion of said
corporation in the sum of Twenty
five Thousand Dollars ($25,OOO) ten
per cent of which said capital stock
shall be paid in to said Company be-
lore the issuance of Letters Patent.
Article 4. The term for which
this corporation is to exist shall be
ninety-nine years.
Article 5. The regular annual
meeting of the stockholders of said
corporation shall be held in the Office
of the Company in Live Oak, Florida,
! on Tuesday after the first Monday in
January OF each year, at which time
said stockholders shall elect a Board
of Directors, and attend to such other
matters as shall properly come be-
/ fore said stockholders in meeting as
sembled; and the Board of Directors
elected by said stockholders at said
time. as soon thereafter as practical,
shall elect a President, Vice-Presi-
dent and a Secretary and Treasurer,
| the last of which two offices may be
held by one and the same person, and
at such first annual meeting the
Board of Directors elected as afore-
said shall adopt bylaws for the gov
eminent of the affairs of said cor
Doration, and until and before said
/ first annual meeting. the business or.
businesses of said corporation shall
be conducted by President, a vice.
President and Secretary and treas
urer. and until said meeting, e. 5.
! Brown. Live Oak, Fla, shall be Presi-
dent; F. f. Thomson, Of Live OAK,
Fla. shall be Vice-PreSident, and W,
IL. Timer, Live Oak, Fla, shall be.
| Secretary and Treasurer; and all OF
the undersigned incOrpCrators, to-
wit: C. S. Brown, F. f. Thomson,
| ". l.. Timer. V. Granberg and ". H..
I Jones shall compose the Board OF
Directors. -.
Article 6. The highest amount OF
Indebtedness or liability to which the
corporation can at any time subject
Itself shall be twice the amount OF ITS
raoital stock at said time actually
paid in to said corporation.
Article !. The names and resi-
dences Of the subscribers to the stock
of said corporation is as follows:
! c. S. Brown, Live Oak, Florida,
twenty shares.
FEE. Thomson, Live Oak. Florida,
twenty shares.
W. H. Jones. Orange Bend, Flor
! ida. twenty shares.
! Y. Granberg, Live Oak, Florida
| twenty shares.
". L. Timer. Live Oak, Florida
! twenty shares.
State OF Florida.
| County Of SuWannee.
Before me this day personally
came c. S. Brown, F. T. Thomson,
IW. l.. Timer. ". H. Jones and '.
| Granberg. TO me well known who on
/ cath denoses and says that they sign
81 and acknowledged the foregoing
oroYosed charter for the uses and
| purposes therein set forth
In Witness Whereof, ! have here
INTO set my hand and seal this Nov
ember If, 1907.
B. w. HELYENSTON,
Notary Public.