The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1914-03-17
LEGAL ADVERTISEMENTS.
PEviTIoE TO AMEND CHARTER

In the Superior Court OF Said County.
The petition OF North American In
vesiment Company respectfully shows
/. That it was originally incorporat-
ed for a term Of twenty years by Or
6r OF this court granted July ,, 1891,
with capital stock CT three million
dollars, ard its charter was renewed
by order of this court granted June
q, 1911, tor a term OF twenty years,
and by the terms OF said order OF
June u, petitioner was authorized to
reduce its capital stock to five hup-
dred thousand dollars.
2. Petitioner shows that it has &C
quiTcd and has in its treasury twenty
thousand shares CT its capital stock,
and has row outstanding only ten
thousand shares Of its capital stock
OF The par value of one hundred dol
lars each.
3. That petitioner has disposed Of
some CT its properties and the rea-
sonabla value OF its remaining assets
is now about fifty thousand dollars,
and desires to haze its charter amend
ed SO as TO authorize a u1ther reduc-
ticn 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 Ear val
ne OF its stock shall correspond with
tho value Of its assets.
4 That the stockholders Of petition
er in regular annual msetins3 assem-
bed, On February 2, 1874, all shares
being present and voting in the af-
firnlstiye, passed the following pre-,
amGIo and resolution, tO-wit:
Whereas, by the provision Of the
charter granted, by the Superior court
OF Glynn county, Georgia, en- July 2,
1891, incorporating North American
Investment company, the CAPITAL stock
Of the corporation was GAed at three
million dollars, to be evidenced by
shares OF the par value CT one hun,
dred dollars each, with the right to
increase such capi:zl stock up 10 five
million dollars upon two third vote
Of the capital stock Of the company;
And Whereas, by the provisions Of
an order Of said court granted June
81, 1911, renewing ard amending the
charter Of said company, the corpor.
ation was authorized to reduce its
capital stock to five hundred thousand
dollars;
And Whereas, the properties and
assets now owned by the Company
are worth on a reasonable and fair
valuation not more than fifty thousand
dollars, and 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 .hon-
sand Shares OF the authorized capital
stock which arc owned by the com
pany and there are only outstanding
ten thousand shares CT the par yaUo
OF one hundred dollars each, and Ill
of which outstanding shares were 8
sued and are held as fully paid stock.
New Therefore BE and it Is Hereby
Resolved, by the stockholders g
North American Investment COMPANY
in annual meeting assembled (ln
shares being represented), That ne
charter CT this company be amended
so as to authorize a reduction in me
present outstanding capital ssosk of
ore million dollars to fifty thousand
dollars, and that the par value Of al
certificates Of stock shall be reduced
from ono hundred dollars per share
to five dollars per share.
Further Resolved, That such reduc-
ton shall be made by surrender 10
the company for cancellation by each
stakeholder CT all of the shares OF
such capital stock now owned by such
stakeholder, and thereupon 5he.e
shall be issued and delivered to each
stakeholder shares Of stock Of the pa"
value of five dollars each to be eqd2l
in amount to the proportion Of stoc!.
to which he shall be entitled on the
basis Of a capitalization Of fifty thou
sand dollars.
Further Resolved, That after sIcl
capital stock is so reduced to Gfty
thousand dollars the corporation s.la}l
have the right to again increase its
capital stock to any amount .:
amounts not exceeding five hun rel
thousand dollars by a majority vc1e
OF the stock outstanding Al the t;nlc
tie action is taken on sUch Increases.
Further Resolved, That the officers
G this company are hereby fully au-
thcrized and empowered to do all acts
and things necessary and proper to
carry out the provision Of this res
olJticn"
Attached to this petition as Exhibit
A" is a duly certified copy Of said
resolution.
.. That petitioner only owes twenty