The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1918-12-12
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GOVERNMENT

marks; and any and all letters patent
and similar rights granted by the United
States or any other country or govern
ment which may seem capable of be-
ing used for or in connection with any
of the objects.
Cd The owning and operating any
boats of all kinds and furnishing OF wat
er transportation Of both freight and
holding and disposition of patents and
patent rights, and or real estate. lumber
and timber.
(m) The doing of all things incidental
to the said business, and which may be
necessary or convenient for the carry
Ing out of the said purposes.
The amount Of capital stock of this
Corporation shall be 5000, 900 90, divided
into shares of $4,000 each. and
or in both or in either OF the said cap
ftal stock 500, 000. 90 shall be Preferred
Stock and $100,000.00 shall be Common
Stock. The owners of the Preferred
Stock shall be entitled to receive, and
the said corporation shall be obligated
to pay out of the surplus and net profits
arising from the business of the said
corporation, a cumulative dividend at
the rate of ten per cent. per annum,
payable annually, the first year begin
the Preferred Stock any part thereof,
and in the case less than the whole, then
the prorata proportion of the outstand-
ing Preferred Stock held by each of the
Preferred Stockholders, of record Nof said
corporation, may be redeemed by the
vorporatin at any time at the pleasure
OF the Board of Directors, by paying
therefor in cash, the par value of said
Preferred Stock. plus all unpaid accrued
dividends and in addition thereto a
premium of $1,000 for each Preferred
share so redeemed, provided, however,
that thirty (30) days written notice shall
be given to all Preferred Stockholders of
the intention of the corporation SO to re-
deem. No dividend shall be paid on the
Common Stock until all of the Preferred
Stock shall have been redeemed. Upon
any dissolution or liquidation of the
said corporation or in the event of in
solvency or upon any distribution of cap
ital there shall be paid to the holders
of the Preferred Stock the same amount
as Is hereinbefore required to be paid
to the holders of Preferred Stock in case
Of redemption. After making such pay
ment to the holders of the Preferred
Stock, all of the remaining net assets
o fthe said corporation shall belong pro-
rata to the owners of the Common Stock
thereof.
The said corporation shall exist for
ninety-nine years from the date of
granting Letters Patent to it.
g.
The business shall be conducted by
Board of not less than three, nor more
than seven directors the number at
any time to be fixed by the bylaws of
the corporation and by a President and
one or more, not exceeding three vice.
presidents and a Secretary-Treasurer.
The Directors shall be elected annually
at meeting of the Stockholders to be
held the second Tuesday in January
of each year. and the o.. GERS shall be
elected by the Board of Directors at a
meeting to be held the same day.
Until the first election, c. G.. Rives, Jr.,
shall be President and l.. Lavedan shall
be president, and William Fisher,
Secretary-Treasurer, and the said per
sons shall constitute the Board of Direc-
tors. All vacancies in any o. .ce in the
company or the Board of Directors
shall be filled in manner TO be pro-
vided in the bylaws.
g.
The highest amount OF indebtedness
to which the corporation may at any
time subject itself, shall be $1,000, 100000.
The names and Post Office addresses
of the subscribers to the apital stock
of the said corporation, and the amount
of stock which each agrees to take, are
as follows:
C. G. Rives, Jr., Camp Walton, Fla.
500 shares Preferred, $4,000! 500 shares
Common. $4,000.
L. Lavedan, Camp Walton, Fla, $50
shares Preferred, $4,000; ESQ shares Com
VIM. Fisher, Pensacola, Fla. $50 shares
Preferred. $4,000; $50 shares Common,
$25, 900.
IN WITNESS WHEREOF the said sub
scribers have hereunto signed their
names. on this 29th day of November.
a. D. 1918.
w. FISHER,
LUCIEN IAAyEDAN,
c. G. RIvES, JR.
STATE OF FLORIDA,
ESCAMBIA COUNTY.
Personally before the subscriber, a
Notary Public, appeared William Fisher
and L. Lavedan, known to me to be the
individuals described in and who exc
cuted the foregoing instrument and each
cuted the same for the uses and pur-
poses therein set forth.
Witness my hand and o. .cial seal, this
10Th day of November. 1918.
LONNIE FILLINGIM,
Notary Public.
STATE OF FLORIDA,
ESCAMBIA COUNTY.
Personally before the subscriber, a
Notary Public, appeared c. G. Rives, Jr.,
known to me to be the individual de-
scribed in and who executed the fore
going instrument and acknowledged that
he executed the same for the uses and
purposes therein set forth.
Witness my hand and o. .cial SEAL this
30th day of November, 1918.
S. FRANCES PRYOR,
Notary Public.
My commission expires Feb. 10. 1910