The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1917-01-06
PETITION TO DISSOLVE
CHARTER.
GEORGIA-Glynn County.

pany respectfully shows:
l. Petitioner was incorporated I'm.
der charter granted by this Honor
able Court on September 10, 1908.
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.
8. 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 a meeting of petitioner
stockholders held November 27, 1916
looking to it's dissolution by sur
render of its charter and franchise as
provided by law, at which all of its
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 it's
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 it 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
l.Ccrs Of this company are hereby au-
thOTizad and directed to make applica-
ton to the Superior Court of Glynn
County, Georgia, for a dissolution of
this c0mDany as a corporation and are
authorized and directed in that con-
necti0n to surrender to the State its
charter and franchise ant are further
authorized and directed to do any and
ali 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"
5. And at a meeting of petitioner
board of directors held the same day a
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 tne President
and or Treasurer be authorized anC
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 be
distributed pro rata among the hold
ers of the outstanding capital stocl
at such times and in such proportions
as this Board of directors shall deem
expedient, a sufficient amount to Dt
left in the Treasury to cover the cos
of the dissolution proceedings and in
come tax and such other items as, al
though not yet due will become due
and payable hereafter"
G. Petitioner believes that before
the hearing of this petition all of it,
debts will have bsen paid, except tn
expenses incident to this proceedin,
and whatever amount it may be here
after ascertained petitioner will b.
due the government of the United
States under the laws thereof as in
come tax for the year 1916 Petition
er is not willing to delay it's dissolu
ton until the amount of the incom
tax which may be due can be ascer
tanned and paid at the time fixed b,
law
| Wherefore, petitioner plays:
| ca That an order be granted here
On fixing time for hearing of thi
petition at the court house in Glynl
county, Georgia, as provided by law.
| (b) That at the hearing a deere
be granted accepting the surrender O
petitioners charter and franchise an
ordering its dissolution.
| (c) That F. D\M. Strachan, pet
toner's president, and S. S. Rickett
petitioners treasurer, be appointe,
liquidating trustees or receivers TO
petitioner, to receive, take over an
disburse among those entitled there
to as fixed by law the assets remain
ing in petitioners treasury at tn
date of it's dissolution, and that the ex
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