The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1914-01-03
COPY Of THE PROPOSED CHARTER
OF FLORIDA TITLE & TRUST
COMPANY

We the undersigned, hereby assoc
ciate ourselves together for the purpose
of becoming incorporates, rated, under aei the me
to. corporations for profit.
ARTICLE I.
Name
The name of this corporation shall
be Florida Title and Trust Company,
and its principal place of Of business MInsan
county, Florida, but it may establish
Offices and branches in such other
Mace or places as it shall deem deS1r-
able in the conduct of its business
ARTICLE II.
business
The general nature of the business
TO be transacted by this corporation
shall be to make and sell aDsraets Oh
title to lands. to issue title certl e ;
and title guarantee policies. and to DO
ali other things usually incident ana
necessary to such title and abstract
work: to act as agent of the owner IN
the renting selling. general. care and
handling of real estate and personal
property; to loan its own 1unos anu 70
act as agent of Others, for the ioanlns
Of funds upon real and personal prop
perty, and as such agent to charge
and collect commissions for such SER
cages and deeds of trust or either real
or personal property, and to execute
and deliver release thereof, ana 40
and perform all other duties or such
trustee: to act as trustee. assignee, or
receiver for persons co-partnerships,
cornorations or estates, either by in
diyidnal anDointment or by order of
court and to be vested with all the
powers and authority conferred upon
buy, sell or lease and deal in real and
personal property, and to mortgage
the same; to deal in bonds, stocks and
mortgages; to purchase its 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 this
corporation shall be ONE HUNDRED
TH0JTSAND $500 00o) DOLLARS, di-
vided into one thousand shares of the
par value of one hundred dollars eacff,
payable in cash or property, LABOR or
Services a just valuation Thereon 10
be fixed by the board of directors at a
meeting called for such purpose. vi
the one thousand shares of stock. nxe
hundred shares shall be preferred
stock. and Ave hundred shares shall be
common stock The preferred stock
shall receive from the net earnings OF
.,umulatiye dividend before any dfyfd-
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 a four
per cent additional dividend. and any
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
s. per cent until there has been created
and thereafter maintained a surplus
net earnings fund equal to eight pei
cent on all issued preferred stock The
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 paymen,
to the owAer thereof the par value OF
such stock plus ten per cent. The
corporations intention to retire any OIL
all of the said preferred stock shall be
evidenced by its written notice of such