The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1914-03-06
LEGAL ADVERTISEMENTS.
PETITION TO AMEND CHARTER

Yestment Company respectfully shows
!. That it was originally incorlorat-
ed for a term Of twenty years by Or
der of this court granted July ?, 1891.
With a capital stock OF three million
dollars, and its charter was renewed
by order of this court granted June
81, 81, Cor a term Of twenty years.
and by the terms of said order OF
June q, petitioner was authorized to
reduce its capital stock to five hun.
bred thousand dollars.
2. Petitioner shows that it has &C.
CURED and has IN it's treasury twenty
thousand shares Ct its capital stock
and has now outstanding only ten
thousand shares of it's capital stock
of the par value of one hundred dol
lars each.
3. That petitioner has disposed of
some of its properties and the rea-
sonahle value of lis remaining assets
is now about fifty thousand dollars.
and desires to have its charter amend
ed so as to authorize further reduc-
tion of it's capital stock to fifty thou
sand dollars, to be divided into ten
thousand shares of the par value Of
five dollars each, so that the par val
ue of it's stock shall correspond with
the value of its assets.
4. That the stockholders of petition
er in regular annual meeting assem-
bled, on February 2, 1914, all shares
being present and voting in the af
frmative, passed the following pre-
amble and resolution, to-wit:
Whereas, by the provision of the
charter granted by the superior court
Of Glynn county, Georgia, on July 2
1891, incorporating North American
Investment company, the capital stock
of the corporation was fixed at three
million dollars, to be evidenced by
shares of the par value of one hun,
dred dollars each, with the right to
increase such capital stock up to five
million dollars upon a two third vote
of the capital stock of the company;
And Whereas, by the provisions of
an order Of said court granted June
Fl, 1911, renewing and amending the
charter OF said company, the corpor
alton was authorized to reduce it's
capital stock to five hundred thousand
dollars;
And Where's, the properties and
assets now owned by the company
are worth On . reasonable and fair
valuation not more than fifty thousand
dollars, ard It is desired to reduce
the capital stock to correspond with
such valuations;
And whereas, there are now in the
treasury of the company twenty thou-
sand shares of the authorized capital
stock which are owned by the COIN
pany and there are only outstanding
ten thousand shares of the par vaUe
of one hundred dollars each, and Ill |
OF which outstanding shares were s
sued and are held as fully paid stock;
Now Therefore Be and it Is Hereby |
Resolved. by the stockholders q |
North American Investment COMPANY |
in annual meeting assembled al
shares being represented, That he |
charter Of this company be amended |
SO as to authorize a reduction in the |
present outstanding capital stock of
one million dollars to fifty thousand
dollars, and that the par value Of al
certificates of stock shall be reduc2G |
from one hundred dollars per share
to five dollars per share.
Further Resolved, That such redUc-
ton shall be made by a surrender to
the company for cancellation by each |
stakeholder of all of the shares CT /
such capital stock now owned by such
stakeholder, and thereupon these
shall be issued and delivered to each
stakeholder shares Of stock Of the pa
value of five dollars each to be equal |
in amount to the proportion of Stock
to which he shall be entitled Oh the
basis of capitalization of fifty thou
sand dollars.
Further Resolved, That after SIGH |
capital stock is so reduced to ifty |
thousand dollars the corporation Shall
have the right to again increase It's
capital stock to any amount q
amounts not exceeding five hun rel
thousand dollars by majority we've
Of the stock outstanding al the time
the action is taken on oUCh Increase.
Further Resolved, That tho officer:
of this company are hereby fully au-
thorized and empowered to do all acts
and things necessary and proper toi
carry out the provision of this res
olution."
Attached to this petition as Exhibit
a. is duly certified copy of said
resolution.
5. That petitioner only owes twenty