The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1916-12-22
PETITION TO DISSOLVE
CHARTER.

PETITION TO DISSOLVE
CHARTER.
GEORGIA-Glynn County.
To the Superior Court of said County:
The petition of Pine Lumber Com
pany respectfully shows:
]. Petitioner was incorporated un.
der charter granted by this Honor
able Court on September 10, 1903.
2. Petitioner recently reduced its
entire assets to liquid form and has
paid all of its debts that could be as
certained and properly paid at this
time, and has made Distribution
among its stockholders. except that a
sufficient amount has been reserved to-
pay the expenses of these proceedings
and such other debts or liabilities as
could not for one reason or another
be paid
3. The capital stock heretofore is
sued by petitioner was one hundred
shares of the par value of $4,000 each
fully paid, all of which was deposited
with petitioner by the respective
holders thereof upon the aforesaid dis
tribution among stockholders being
made.
4. AT meeting of petitioners
stockholders held November 81, 1916,
called to consider and take action
looking to its dissolution by sur
render of it's charter and franchise as
provided by law, at which all of it's
stockholders were peresent in person
or represented by proxy, the following
resolution was I'm animously adopted:
Whereas, by the sale recently
made by this company to e. T. Glaes-
er, all of the property of this COM
pany, consisting of timber and timber
privileges on various lands in Pierce
county, Georgia, was disposed of and
the entire assets and property of the
company thereby reduced to liquid
form, and there is no longer any rea-
son or necessity for this company to
continue to enjoy and exercise its
charter and franchise as a corpora
ton.
and whereas, this present meet
ing of the stockholders has been call
ed for the purpose of considering
action looking to its dissolution as a
corporation in the method provided by.
the laws of the state of Georgia:
Now, therefore be 1t resolved. that
this corporation shall surrender its
charter and franchise to the State of
Georgia and be dissolved as a cor
poration.
Be it further resolved that the of
ficers of this company are hereby au-
thorized and directed to make applica-
ton to the Superior Court of Glynn
County. Georgia, for dissolution of
this company as a corporation and are
authorized and directed in that con-
nection to surrender to the State its
charter and franchise and are further
authorized and directed to do any and
all other acts and things necessary
and proper to effect such dissolution
and fully and completely execute and
perform the intents and purposes of
this resolution"
~Ahh~' ~ - iltCtihisS Va HtNlNtOhSi .
board of directors held the same day
resolution was adopted which after
reciting and quoting and ratifying
and approving the aforesaid resolu.
ton adopted by the stockholders, pro
vided.
Resolved further that The President
and or Treasurer be authorized and
directed to ascertain and pay all out.
standing debts and obligations of the
company and that the balance of the
funds belonging to the company he
distributed pro rata among the hold |
ers of the outstanding capital stock
at such times and in such proportions
as this Board of directors shall deem
eXpedient a sufficient amount to DE
lett in the Treasury 20 oover the cost
OF the dissolution proceedings ana ia. |
come tax and such other items as. al |
though not yet due will become due
and payable hereafter
8. Petitioner believes that before |
the hearing of This petition oil of its