The Brunswick news., 1912-09-05
PETITION FOR CHARTER

GEORGlA.-GL1NN COUNTY.
To the Superior Court of said County:
The petition of C. H. Dudley of said
county, and c. F. Smith and Robert
l.. Smith of Telfair county, Georgia,
respectfully shows:
l. Petitioners desire for them
selves and their associates to be in->
corporated and made a body polite
under the name of GEORGIA COAST
LUMBED COMPANY" for term CT
twenty (20) years, with the privilege
of renewal at the expiration of that
time.
2. The principal office of the cor
poration shall be in the city of Bruins
wick, Glynn county, Georgia, with
the right to establish such branch
offices and places of business else
where in Georgia and the United
States and foreign countries as may
be desired.
3. The object of the corporation is
pecuniary gain to its stockholders.
and its particular objects are to en-
gage in the manufacture and sale of
lumber and all kindred products. and
likewise to conduct a commission and
brokerage business in such products:
and to that end petitioners desire the
right to buy, acquire, hold and lease
timber and timber lands, wherever
situate, and such other real prop
erty as may be expedient in the con-
duct Of its business; to erect. ac-
quire, hold, and operate such plants,
mills, dry-kilns and other machinery
and appliances, including trans and
tram roads, as may be expedient in
the conduct of its business; to buy
and sell lumber and all kindred proc
| ucts as a commission man or broker:
to buy, sell or otherwise dispose
any and all of its property, Of what
ever kind, at the pleasure of its board
of directors, as may be provided in
the bylaws to be adopted; to borrow
money, execute evidences of indebt-
edness therefor and secure the same
by mortgage Or deed to secure debt
Is any and all property that may c.
owned or acquired by the company,
or otherwise, as the board of direc-
tors may desire; to buy, own, ac-
quire and hold such other property as
may be necessary or eXpedient in tie
conduct of the business of the com
pany, including stocks and bonds of
other corporations, and generally to
have and exercise all other rights,
| D0warc ap6 nriviIoUoc incident N apd
enjoyed by similar corporations char
tered under the laws of Georgia, in
cluding the right to contract and be
contracted with, to sue and ne sued
to have and use a common seal and
to change the same at pleasure, and
t" do any and all other things neces-
sary and proper in the conduct of it
business
4. The capital stock of the com.
pany shall be Fifty Thousand Dol
lars ($50,0O0.00D, to be divided into
five hundred (500) shares of the par
value of One Hundred Dollars each,
with the right upon the part of the
| stockholders to increase such capi-
| tai stock from time to time by a ma
! jority vote OF the stock at that time
outstanding to any amount not to
exceed Two Hundred and Fifty
Thousand Dollars ($250,0O000), and
with the right to decrease such cap
| ital stock from time to time by a
majority vote Of the stock at that
time outstanding, to any amount not
| less than Ten Thousand Dollars
($10,00000). The stock to be issued
shall be paid for in cash or in real or
personal property at valuation to be
fixed by the board of directors. More
capital stock has already been paid.
8. There shall be board of d.
rcctcrs of the company to consist of
no. less than three nor more than
Scver members, all of whom shall
re stockholders. They shall hold Of
fico for such term as may b, fixed
by the bylaws and shall have such
powers. as may be vested in them by
law or by the bylaws.
6. The board OF directors shall
officers: A President, Secretary and
Treasurer, but either one of the first
two named officers may also hold the
office of Treasurer. The board OF di
rectors may at their pleasure create
other offices, including that Of Vice
President. The bylaws shall TX the
powers and duties of such officers or
may delegate this authority to the
board of directors.
7. The stockholders shall have the
right to adopt bylaws for the govern
ment and regulation of the corpora
tion not in conflict with law or thu
terms Of the charter, and to alter or
amend the same as may be prescribed
in the bylaws adopted. The stock
holders shall have the right n. sIch
bylaws to delegate to the board of
directors any and all powers not ex
pressly reserved in the stockholders
by law or by the terms Of the char
fnr