The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1917-08-15
PETITION FOR CHARTER.

Georgia, Glynn County.
To the Superior Court Of said COun
ty:
The petition of c. Downing, Albert
Fendig, b. Borchardt and }. ". Ben
net, all of Glynn county, Georgia, and
T. H. McRorie, of Duval county, Flor
ida, respectfully shows:
l. That petitioners desire for them
selves, their associates, Successors
| and assigns, to be made 4 body cor
porate and polite under the laws of
Georgia under the name and style OF
-. Downing Phosphate Company, for
term of twenty years with the privi-
lege OF renewal as provided by law.
2. That the principal Office Of said
corporation shall be in 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
| in the United States and i'll 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 10 increase
| the common capital stock lion time
| to time to any amount OF amounts
| not exceeding two hundred and fifty
! thousand dollars by a ma jority 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 &C.
| time to time in any sum CT sums not
| to exceed one hundred and utty thou
sand dollars, such issue OF issues of
| preferred stock to be authorized by
Il majority vote of the common stock
outstanding at the time action is
taken to authorize such issue or is
| Sues, and the holders of such COM
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 hc paid
| thereon, and as to whether such
stock shall have any voting power,
and fix the par value OF the shares
5. That the object OF the cor
poration is pecun1ary 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 it's purposes and objects and as
an incident to its business, and also
! with the right to deal i'll any OF such
| commodities as a broker.
! To buy, own, hold, improve, sell
| and deal in real property OF any kind
Ill connection with its business.
To buy, own, hold, sell and deal
III personal property appurtenant to
| or deemed desirable in connection
with its business, including the right
| to purchase and acquire stock in
| other corporations which it may be
permitted by law to own, sell CT deal
| in.
| 70 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 pecuniary interest; and with
the right to lend money
T. That said corporation shall have
the right to receive in payment of
its capital stock real and personal
property at a 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
right to any of the three first named
officers to hold the Office of treas