The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1912-09-06
psrlTIoN EoR cHARrER

county, and C. F. Smith and Rooert
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 a term of
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 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 annlianaoe fnn1udino fIsov
tram roads, as may be expedient in
the conduct of its business to buy
and sell lumber and all kindred proc
lets as commission man or broker;
to buy, sell or otherwise dispose o
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-l
edness therefor and secure the same.
| by mortgage or deed to secure debt
IS any and all property that may e
owned or acquired by the company.
or otherwise, as the board of direc-
tors may desire; to buy, own, ac-t
quire and hold such other property as
! may be necessary or eXpedient in the
| conduct of the business of the COM
pany, including stocks and bonds Of
other corporations, and generally to-
have and exercise all other rights,
powers and privileges incident to and
enjoyed by similar corporations char
tered under the laws of Georgia, in
Guiding the right to contract and be
contracted with, to sue and pc sued,
to have and use 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 100000 to be divided into
five hundred 5000 shares of the par
value of One Hundred Dollars each,
with the right upon the part of the
stockholders to increase such capt.
tai stock from time to time by ma
! jority vote of the stock at that time
outstanding to any amount not to
exceed Two Hundred and Fifty
Thousand Dollars ($250,000.00), and
with the right to decrease such cap
| ital stock from time to time by
majority vote of the stock at that
time outstanding, to any amount not
less than Ten Thousand Dollars
| ($10, 100000. 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
than ten per cent 90 per cent? of the
capital stock has already been paid.
| .. There shall be board of dr.
roctcrs Of the company to consist of
no. less than three nor more than
seven members, all of whom shall
re stockholders. They shall hold Of
flee for such term as may b. fixed
by the bylaws and shall have such
2C Wtrs. as may be vested in them by
law or by the bylaws.
6. The board OF directors shall
elect of their number the following
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
ton not in conflict with law or the |
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 sch
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
ter.
AND petitioners pray that this
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