The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1914-01-10

or personal property. and to execute
and deliver releases thereof, and do
and perform all other duties of such
trustee; to act as trustee, assignee or
receiver for persons. o-partnerships,
corporations or estates, either by in
dividual appointment or by order of
court, and TO be vested with all the
powers and authority conferred upon
such officer by law or otherwise; to
buy, sell or lease and deal in real and
personal property, and to mortgage
the same; to deal in bonds, stocks and
mortga ges; to purchase it's own pre-
ferred stock and retire the same, and
TO reissue same as needed; to buy or
lease abstract plants and equipment
and pay for same either in cash or in
the stock of the company.
ARTICLE III.
Capital Stock
The amount of capital stock of tn
corporation shall be ONE HUNDRE s
THOUSAND (s100,000) DOLLARS, d.
yi6ed into one thousand shares of ths
par value of one hundred dollars each
payable IN cash or property, labor OF
services at a just valuation thereof TO
meeting called for such purpose. OF
the one thousand shares of stock, five
hundred shares shall be preferred
stock, and five hundred shares SHAH De
shall receive from the net earnings or
the company an eight per cent annual
cumulative dividend before any divid-
end is paid upon the common stock.
Out of any remaining net earnings the
preferred stock and the common stock
shall each receive equally up TO four
additional net earnings shall belong
entirely to the common stock, but the
common stock shall not receive In any
one year a dividend in excess Of eight
per cent until there has been created
and thereafter maintained a surplus
net earnings fund equal to eight per
corporation shall have the right after
five years from the date OF its incor-
poration to retire any or all Of the OUT
standing preferred stock by payment
such stock. plus ten per cent. The
corporations intention to retire any or
all of the said preferred stock shall be
evidenced by its written notice OF such
intention mailed to the last known adj
dress OF the holder of the stock SO to
be retired at least ninety days before
which such retiring is to be made.
Preferred stock as to which such mo-
tice has been given shall not be eligi-
bile to participate in the earnings from
and after the retirement date set forth
in such notice. and the funds for the
redemption thereof shall be deposited
arate and apart from all other funds
of the corporation, and shall be used
only for such retirement purposes. The
preferred stock last issued shall be the
frst TO be retired, and all retirements
shall be in that order.
ARTICLE Nv.
Term
The term for which this corporation
shall exist is ninety-nine years
ARTICLE V.
Officers
The business of this corporation
shall be conducted by president,
vice president. a secretary, treas
urer. and a board Of five directors. The
directors shall be chosen annually Dy
the stockholders at the annual meeting
held on the second Thursday in Febru-
airy of each year; The manner OF me
prescribed by the bylaws. The office
OF secretary and treasurer may be held
by ore person. The following named
this corporation until those elected at
the first annual meeting shall qualify:
President, r. S. Rogers.
Vicn-President, w. NJ. Wilson.
Secretary. Frank d. Sanders.
Treasurer, r. S. Rogers.
Board of directors r. s Rogers; ".
NJ Wilson Frank D. Sanders, Z. b.
Ahearn, Edna Weber.
ARTICLE VI.
Indebtedness
The highest amount OF Indebtedness
or liability to which this corporation
shall subject itself is one hundred
thousand dollars.
ARTICLE VII
subscription
The names and places Of residence Of
the subscribers to the capital stock,
and the number Of shares OF stock
subscribed for by each, are as fol-
lows:
r. S. Rogers. Ocala, Florida, 4eo
shares.
w NJ Wilson, Ocala, Florida. 10
shares.
Frank d. Sanders. Ocala, Florida, 10
shares.
Edna Weber, Ocala, Florida, 10
c. E. Ahearn. Ocala, Florida, 10
shares.
State of Florida,
Marion County.
Before the undersigned authority
personally came r. S. Rogers, w. NJ.
Wilson. Frank ID. Sanders and Edna
Weber. TO me we'll known to be the in
dividuals described in and who sub
Ser.5ed their names TO the foregoing
articles Of Incorporation, and acknowl-
I'd ged to me. each for himself, that he
signed his name thereto and subscrib-
ed for the amount of capital stock set
opposite his name
in witness whereof. I have hereunto
set my hand and official seal this the
Srh day Of January. 4. ID. 1914.
(Eotary Seal) HENRY d. STOKES.