Live Oak daily Democrat. (Live Oak, Fla.) 190?-190?, 1907-12-04

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 retailtand wholesale
mercantile establishnIe nt, engaging
therein in the buyingl manufacturing
and sale OF all classesb commodities
incident to said business; to buy,
own, rent or otherwi@ use and dis
pose of real estate, buses and lots
and timber lands; to- enjoy all the
DEMENT'S, privileges. rights and fran
chises guaranteed by the laws of the
State of Florida, in the conduct Of
the aforesaid business.
Article 3. The amount of the
capital stock of said corporation shall
be Ten Thousand Dollars ($1O,OO0)
consisting of one hundred shares.
which said shares shall be of par
value OF one hundred dollars (S1O0)
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,OO0). ten
per cent OF which said capital stock
shall be paid in to said Company be-
fore 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, a 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
pOratiOn, and until and before said
first annual meeting, the business OF
/ businesses Of said corporation shall
! be conducted by President, Vice.
President and a Secretary and treas
urer, and until said meeting, C.. S
; Brown, Live Oak, Fla, shall be Presi
dent; F. E. Thomson, OF Live Oak
Fla. shall be Vice-President, and w
L. Timer, Live Oak, Fla, shall bt
Secretary and Treasurer; and all o.
the undersigned incOrporators, to
wit: c. S. Brown, F. E. Thomson
W. L. Timer, V. Granberg and W. H
Jones shall compose the Board o.
! Directors.
Article 6. The highest amount o.
Indebtedness or liability to which thu
corporation can at any time Subiec
itself shall be twice the amount of it!
capital stock at said time actual!
paid in to said corporation.
Article 7. The names and resi-
! denceS of the subscribers to the stool
of said corporation is as follows:
c. S. Brown, Live Oak, Florida
twenty shares.
FEE. ThOmaSOn, Live Oak, Florida
! twenty shares.
W. H. Jones, Orange Bend, Flor
ida, twenty shares.
V. Granberg, Live Oak, Florida
twenty shares.
! w. L. Ulmer, Live Oak, Florida
twenty shares.
! State of Florida,
County Of SuWannee.
Before me this day PERSONAL.
came C. S. Browa, F. E. Thomson
W. l.. Ulmer, W. H. Jones and V
! Granberg, to me well known who Of
oath deposes and says that they sign
ed and acknowledged the foregoing
proposed charter for the uses an
! purposes therein set forth.
! In Witness Whereof, | have here
, unto set my hand and seal this Nov
, ember IA, 1907.
B. W. HELVENSTON,