The Pascagoula democrat-star. (Pascagoula, Miss.) 1878-1920, 1911-02-24
0neInuIIIon PIN
mn III t0MPIHT
TINE INDUCEMENTS
on GROUND FLOOR
eInv Acres ~ 49, isrsrn ste
I've Lets 10 - 70 zach OF
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sdopsei ssd ordered rlscei hsigfs tbs
general pablle. THIS declaration N
principles embodIss ever detail n
original organizations snd shass 90
setfy The Inducements that ife snefsd
the pioneers In Iovsstios their MONEY
Three hundfci tpen lnfs are pro.
vIded for. each ground Nor subscriber
being entitled w syn of auch lots. the
selection ~ these lots 70 h. decided
upon 40 public drawing When the
tbfee hundred lots are exhausted.
which means the seqolflnx u me
hundred and at, ground foef mem.
berships, this plan will Ne withdfawn
and m further stock OF any Kind of.
fefed Tor sale. A. the deyelopment
work progresses and OIL and gas are
brought 10 at the neld, should ad
dItional capital be needed Tor further
boring, treasury stock is 70 be issued
Tor sale TO the general public, this
stock to be only 10 the producing well
or wells and the acreage upon which
such boring ls being done.
Chairman LinHeld presided at Mon.
day nights meeting, and Secretary II.
Herring was at the desk. Capt. John
J. Clark, an enthusiastic promoter Of
the prospective company, introduced
tina resolutions that made plain the
intent OF the company and the plans
under which IL Is being organized.
After some discussion, intended solely
to bring out various points, and with
only one talk against the plan, the
voted overwhelmingly TO
adopt the following resolutions, the
same as originally introduced by Capt.
CLARK:
RESOLUTIONS ADOPTED.
To the Officers and Members OF this
Temporary Organization:
Whereas, the original scheme OF
Prof. de Lamorton for the organiza.
tiOn OF this stock company Is a popu-
lar one with the majority OF the
members, and we believe that 1t is
necessary for the purpose OF Offering
special Inducements 10 the citizens TO
come Into this organization on the
"Ground Floor" and raise sufficient
funds to Immediately proceed with the
purpose Of the organization:
Therefore, be IL we'd, That flfty
(50) acres OF the land acquired by this
company be plotted into q town site
and divided into town lots TWENTY-FIVE
by one hundred and fifty feet, and
each one OF the tlrst one hundred and
dity members coming In On the
ground floor shall receive deed to
two Of the said lots upon the payment
Of one hundred ($l00) dollars. In ad.
ditiOn to the said two lots they shall
receive one thousand i0l ,000) dollars
OF the capital stock Of the company.
Be 1t further resolved, That one
hundred and ten (ll0) acres, more or
less, Of the land acquired by this COM
pauy be set aside for boring purposes,
which shall be the actual asset In
land Of the company upon which the
present stockholders and those that
may come into the company after the
looks are closed To ground floor men,
bers, may lay claim and share In the
PROFITS that may accrue from this
land In accordance with the amount
of stock held By such stakeholder.
COMMITTEE IN CHARGE.
Be IL further resolved, That special
committee OF three he appointed for
the purpose Of carrying out Ibis reso.
luton 10 toto, and that they be In.
structed to take necessary steps to
nave the land plotted into lots, and II
necessary hire surveyor to lay IL of
properly so there will be no confusion
about lines, etc, after which to have
two OF the lots conveyed TO each Of
the members already paid In, the
making OF the said deed and any
other expense attached to the con.
veyance OF the said two lots TO each
party to be prorated equally and paid
for BY the party TO whom conveyed.
Be 1t further resolved, That Prof.
O. H. de IIamorton, Mr.. r. p Lin
field and Mr.. J. w. link be the CON-
mittee to carry oft the purpose OF
this resolution.
Be It further resolved, That the
executive committee be Instructed to
30 word the charter, " u 10 necessary
to show the amount Of land held by
company, 80 as to show one hundred
and ten (1l0) acres, more or less, and
that the resolution offered at the pre-.
vious meeting be so amended 80 as TO
read "110 acres, more or less,n instead
OF s'16O acres"
Be IL further resolved, That the
above named committee take the ne
cessary steps TO get the above special
inducement offered 10 around floor
members before the public at once,
and thgt each member Of this tempo.
rary organization use every effort to
get more members 10 on the ground
fIOOr, which should not b less than
one hundred and 1fty members, which
would give % fifteen thousand 1885,
|O0O) dollars, the necessary eotfmsted
amount TO put down the 0sst we'll,
and which would avoid the necessity
OF having TO sell stock 70 outsiders,
barring accidents. The member
should, however, bear In mind when
soliciting any. one TO come Into The
company, that they are not 70 mis-
represent anything or guarantee thai
Ne are going 70 get oil, but, on Inc
contrary, impress upon the pFospec
tive member, that Ne hove this land
TO prospect for oil on, and that ~
ere making no GUARANTEES.