The Chipley banner. (Chipley, Washington County, Fla.) 1893-1943, 1910-12-08

railroads, steam boats, sailing vessels,
locomotives, engines and cars; buying
and selling goods, wares and merchan
disc and other personal property, and
doing all things requisite. necessary or
convenient In and about the said Dusi-
ness or either of them.
Article Nv.
The authorized amount of the capital
stock Of this corporation shall be Twen-
tY-fve Thousand Dollars, (e25, 10000 d.
vided into Two Hundred and Fifty
shares of the par value CT One Hundred
Dollars $4,000 each. at least ten per
cent of which shall be subscribed for and
paid in before said corporation shall do
any business. The capital stock Of this
corporation including the amount sub
scribed for by the incorporatOrs, or any
part or portion of the capital stock OF
this corporation, may be paid In proper
ty, labor or services at a just valuation
to be fixed by the incorporators, and
property, labor or services may be pur-
chased or paid for by capital stock at a
just valuation of such property, labor
and services to be fixed by the directors
of this corporation at meeting called
for such purpose or by the incorporators.
The terms and conditions upon which
the capital stock shall be paid in, except
scribed and 6xed by the Board of Direct
ors of this corporation.
Article v.
The term for which this corporation is
to exist Is Twenty Years unless sooner
dissolved by law.
Article vi.
The business or businesses of this cor
poration shall be conducted by a Board
OF not less than three nor more than five
Directors, President, Vice President,
and Secretary, and a Treasurer. and
such other officers and agents as this
col poratiOn may, through Its Board OF
Directors authorize. The Offices of Sec
rotary and Treasurer may be held by the
same person and any officer may be a
member Of the Board OF Directors. The
said officers shall severally perform such
duties and receive such compensation
therefor as the bylaws of this corpora
ton shall prescribe. The Board of DE-
rectors shall be elected by the stock -hOl
ders at their regular annual election, and
the Board of Directors shall elect the Of
| licers OF this corporation. The Board OF
Directors and officers OF this corporation
shall be elected upon the second Wednes-
day Of January, A. ID. 1911. and annual
ly thereafter In such manner as the by
laws of the corporation may prescribe.
The officers who are to conduct the bus
iness or businesses Of this corporation
until those elected at the first election
shall be qualified are e. p. Rose, j. X.
asher, and A. j. Loudermilk as the
BOARD OF directors; ~. Il. Rose, as Pr6S-
ident. j. r. Dasher as Vice President
and A. j. Loudermilk as Secretary and
Treasurer of this corporation.
Article VII.
The highest amount of Indebtedness
or liability to which this corporation can
at any time subject itself Is Fifty ThOus-
and Dollars ($50,OO0OO.)
Article VIII.
The names and residences of the sub
scrlblng incorporators Of this corporation
and the number Of shares and the amount
Of stock subscribed for by each are as fol-
lows tO-Wit:
E. p. Rose, Valdosta, Georgia,
One hundred and twenty shares
t120) at the par value OF One
hundred dollars each. 80. 80. 81. 10000
j. r. Dasher, PIT. Washington,
Florida, One hundred and twen-
" shares 12O) az the par value
OF One hundred dollars each 49, 1900 90
A. j LoudeFmllk. ~. Wash
lngtOn, Florida, Ten shares (lO)
Of the par value OF One hundred
dollars each ..........,...,...... 100000
Total amount OF stock subscribedS25, 900 90
In testimony whereof we have hereuntO
set our hands, this the 18th day OF No
vember, A. ID. 1910
Il. p. ROSE.
II ID "a