The Punta Gorda herald. [volume] (Punta Gorda, Fla.) 1893-1958, 1913-07-03

the constitution and the laws of the
state of Florida.
4 That said corporation shall have
the right to erect, equip ana main
tain and operate an electric telegraph
or telephone line, or lines, or both,
along the line of its mann line OF rail-
road and its branches or its canals Tor
the transaction of a commercial teie-
graph or telephone business or Dotn,
IL it shall so desire. y.
That the board of directors OF said
corporation shall have the power and
right to mortgage its main line OF
railroad, its branches, roadbed and
property of every kind, its franchises.
including all lands now owned Dy II,
or that may hereafter be owned by II,
by purchase, donation, gift or other
wise. and to issue bonds secured by
said mortgage or mortgages, In sucn
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.
(3)
That the amount of the capital
stock of said corporation shall be
fifty thousand dollars ($50,0O00O) to
be divided into five hundred (5OO)
shares of the par value of one hun
dred dollars (S1OO.0O) 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 five millions of dollars ESQ.,
900 ,OO0.0O). Ten per cent IO%) or
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 maybe payable In,
or issued or used for the purchase OF
property, labor or services at just
valuation thereof to be fixed by the In
corporators herein, or by the board
of directors of this corporation, at a
meeting called for such purposes, as
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, a vice presi-
dent, secretary and treasurer, and
board of three 90 directors. The Of
fee of secretary and treasurer may
be held by the same person. The num-
Der of directors may be changed &C
cording to the bylaws, but at no
time shall there be less than three (3)
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
of each year The date and time OF
the annual meetings may be changed
by the bylaws.
The board of directors shall have
the power to fill vacancies in the
board caused by death, resignation or
otherwise, and to fill vacancies in the
offices of said corporation, caused by
death, resignation or otherwise.
That no stakeholder in said corpor-
alton shall be liable for the debts and |
obligations of the corporation to any |
greater extent, than the amount due
upon any unpaid subscriptions to the |
capital stock of said corporation.
The incorporators of this corpora
ton shall meet at Bronson, Levy !
county, Florida at the Office Of Will
liam j. Epperson, at 10 O'Clock a. m,
of accepting the charter, of adopting !
bylaws and otherwise completing the
organization of this corporation, and
for the transaction of such other bust
ness as may properly come before
them at said meeting.
Until the officers to be elected at
the first annual meeting shall be
elected and qualified, the business of
this corporation shall be conducted
by the following officers:
William ]. Epperson, Bronson, Flor
ida, as president; w. J. Boiling, st.
Louis, Missouri. as vice president;
Thomas c. McEachin of Meredith,
Florida, secretary and treasurer and
William J. Epperson, w. J.. Boiling
and Thomas c. McEachin as directors.