The Brunswick news., 1917-08-23
PETITION FOR CHARTER.

Georgia, Glynn County.
To the Superior Court of Said Coun-
ty:
The petition of c. Downing, Albert
Fendig, b. BOrchardt and j. ". Ben
net, all of Glynn county, Georgia, and
Z. II. McRorie, Of Duyal county. Flor
ida, respectfully shows:
l. That petitioners desire for them
selves, their associates, SUCCESSORS
and assigns, to he made a body cor
porate and polite under the laws of
, Georgia under the name and style of
| Downing Phosphate Company, Tor
! term OF twenty years with the privi-
, Iege of renewal as provided by law.
2. That the principal office of said
| corporation shall be i'll the city of
! brunswick, Glynn county, Georgia,
! with the right to transact business
and establish branch offices else
| where in said state and other states
i'll the United States and in foreign
! countries.
! 3. That the capital stock of said
! corporation shall be ten thousand
! dollars common stock, to be actual
/ ly paid in, with the right to increase
the common capital stock from time
! 20 time to any amount or amounts
| not exceeding two hundred and fifty
! thousand dollars by a majority vote
OF the common stock issued at such
! time as action may be taken by the
! stockholders TO make such increase,
all shares to be of the par value of
one hundred dollars each
! 4. Petitioners also desire that said
| corporation shall have the right to
issue and sell preferred stock from
i time to time i'll any sum or sums not
| 10 exceed one hundred and fifty thou
sand dollars, such issue or issues Of
| preferred stock to be authorized by
| outstanding at the time action is
| taken TO authorize such issue or is
| sues, and the holders of such conf
!
| mon stock shall have the right to fix
| the terms and conditions upon which
| such preferred stock shall be issued,
! provide for its redemption and re
tirement, the dividends to be paid
| thereon, and as to whether such
| stock shall have any voting power,
i and fix the par value of the shares.
| 5. That the object Of the cor
poration is pecunlary gain to its
stockholders.
6. That the particular business in
which said corporation proposes to
engage is:
TO mine, manufacture. buy, sell
and generally deal in fertilizers and
| fertilizer materials and ingredients,
with the right to own, lease, develop
and operate phosphate mines, or any
other mines, and mines or deposits of
| fertilizers or fertilizer materials or
| ingredients, and to construct, own
and operate tram roads and boats
for its purposes and objects and as
an incident to its business, and also
with the right to deal in any Of such
| commodities as broker.
70 buy, own, hold, improve, sell
and deal in real property of any kind
i'll connection with its business.
TO buy, own, hold, sell and deal
nnTGnnl1 Mt To
or deemed desirable in connection
with its business, including the right
to purchase and acquire stock i'll
other corporations which it may be
permitted by law to own, sell OF deal
in
To borrow money and secure the
payment Of the same by conveyance
mortgage or pledge of the assets of
the corporation, with the right to en-
dorse or guarantee the payment of
notes, bonds or other evidences of
debt in which the corporation may
have pccuniary interest; and with
the right to lend money.
| - ilil oolu COIpOIdLlbH Stldll nave
the right to receive in payment OF
its capital stock real and personal
property at u reasonable and fair val
uation.
8. That the officers of said cor,
poration shall be a president, vice
president, secretary and treasurer,
and such other officers and agents
as may be provided for in the by
laws, or by the action of the stock
| holders or directors, and with the
llSht to any OF the three first named
officers to hold the Office of treas
urer.
g. That they desire the right for
said corporation, acting by its stock
! holders, to make bylaws, rules and
| regulations for the government of the
| corporation, with authority to the
stockholders to delegate such right
and power TO the directors, and that
! tho stockholders Or board Of directors
! may have Authority to delegate to
,tF