The Punta Gorda herald. [volume] (Punta Gorda, Fla.) 1893-1958, 1913-07-10

, hereafter owned by it, as provided by
} the constitution and the laws OF the
state of Florida.
That said corporation shall have
; the right to erect, equip and main
tain and operate an electric telegraph
| or telephone line, or lines, or both,
along the line of it's nam line of rail-
road and it's branches or it's canals for
the transaction of commercial tele-
graph or telephone business or both,
If it shall so desire.
That the board of directors of said
corporation shall have the power and
right to mortgage its main line OF
railroad, it's branches, roadbed and
property of every kind, its franchises,
including all lands now owned by 1t,
or that may hereafter be owned by 1t,
by purchase, donation, gift or other
wise, and to issue bonds secured by
said mortgage or mortgages, In SUCH
sums as said board of directors shall
determine; and to sell and to dispose
of the same for such consideration and
on such terms as to the said board OF
directors may appear best for the in
terests of the said corporation.
80
That the amount of the capital
stock of said corporation shall be
fifty thousand dollars $3.50, 100000 to
| be divided into five hundred (500)
shares of the par value of one hun
dred dollars ($100.00) each. Which
said capital stock may from time to
| time be increased to such an amount
as the board of directors of said cor
poration shall determine, said increase
in capital stock to be made under
such rules and regulations as the
board of directors of said corporation
may prescribe, in accordance with the
| laws of the State of Florida, and to
be approved by two-thirds Of all the
stockholders of said corporation at
any regular or called meeting. But
| the total amount of the capital stock
OF said corporation shall at no time
exceed Ave millions of dollars ($5,-
000, 000.00). Ten per cent T0%o) OF
such capital stock shall be paid In in
cash and fully paid up certificates of
stock be issued therefor before the
transaction of any business by this
corporation. The remainder of the
said capital stock may be payable in,
or issued or used for the purchase of
property, labor or services at a just
valuation thereof to be fixed by the in
corporators herein, or by the board
of directors of this corporation, at a
the best interests of this corporation
may require.
The term for which said corpora
ton shall exist shall be ninety-nine
(99) years.
The business of said corporation
shall be conducted by the following |
officers: A president vice presi- |
dent, a secretary and treasurer, and a |
board of three (S) directors. The Of
flee of secretary and treasurer may |
be held by the same person. The num-
Der of directors may be changed ac-
Cording to the bylaws, but at no
time shall there be less than three 81
nor more than seven CD directors.
The directors shall be elected by
the stockholders at each annual meet
ing; and the directors of this corpor-
alton shall be authorized to call spe-
cial meetings of the stockholders upon
such notice and at such times as they
may deem fit, for the transaction of
any business. All other officers OF
this corporation shall be elected an
nually by the directors.
The annual meetings of the stock
holders and directors Of this corpora
ton shall be held at 10 o'clock, a. m,
on the second Tuesday Of February I
Of each year. The date and time OF :
the annual meetings may be changed
by the bylaws.
The board of directors shall have
he power to fill vacancies in the a
board caused by DEATH. resignation or .
and to fill vacancies in the =
,ffices of said corporation, caused by
leath, resignation or otherwise.
That no stakeholder in said corpor-
ltion shall be liable for the debts and G
of the corporation to any r.
greater extent, than the amount due G.
lpon any unpaid subscriptions to the a
apital stock of said corporation. -
The incorporators of this corpora
ion shall meet at Bronson, Levy Il
ounty, Florida at the office of Will d
lam j. Epperson, at 10 o'clock a. m, o
august 6, A. D., 1918, for the purpose n
f accepting the charter, of adopting =
y-laws and otherwise completing the l.
rganization of this corporation, and a
or the transaction of such other bust
ess as may properly come before
hem at said meeting.
Until the officers to be elected at IL
he first annual meeting shall be II
lected and qualified, the business OF h
his corporation shall be conducted :.
y the following officers:
William J.Epperson, Bronson, Flor IL
la, as president; W.. ]. Boiling, st. m
ouis, Missouri, as vice. president; IL
homas C. McEachin of Meredith, =,
florida, secretary and treasurer and
William J. Epperson, w. J. Boiling al
nd Thomas C. McEachin as directors. dl