The Ocala banner. (Ocala, Marion County, Fla.) 1883-194?, 1920-08-20

by the same person. The Board o
directors shall at the same meeting
choose Manager, who is not mem
Der of the Board, and who shall hole
his position during the pleasure Of the
Board. They shall also fix the salary
or compensation of the Manager al
such meeting.
SECTION 3. A majority Of the
Board Of Directors shall constitute
a quorum for the transaction of bust
ness, but no officer or employee may
be considered elected who receives
less than a majority vote of the en-
tire Board.
SECTION 4. The Board Of Direct
ors shall hold regular meetings, with
out notice, on each Tuesday before
the first Sunday in January, April,
July and October, and shall hold spe-
cial meetings when called for that
purpose as provided by the bylaws
of the corporation.
SECTION 5. The Board of Direct
ors shall have general supervision
and control OF the business of the
corporation and shall employ such
agents and employees as they deem
advisable, and prescribe duties ana
fix the rate of compensation OF All
officers and employees. They shall
decide what bond is required OF any
and all officers or employees, pass on
| the aceeptability of the same, and
shall audit the books of the Manager
and make a rigid investigation OF the
business at least once every SIX
months.
SECTION 6. No member of the
Board of Directors shall be allowed
vote on any question in which he
has any personal interests conflicting
with that Of the corporation.
ARTICLE VI.
The duration of the existence OF
the corporation shall be fifty 600
years.
ARTICLE VII.
| The highest amount of indebted
ness to which the corporation can at.
any time subject itself shall be One
Hundred Thousand ($100,00000) Dol
lars.
ARTICLE VIII.
The following officers shall conduct
the business of the corporation until
| the first meeting Of the stockholders
or until their successors shall be quail
flied.
President, II. L. Shearer
Vice President. A. S. Pickett.
|. Secretary, F. H. Meffert.
Treasurer, F. H. Meffert.
Board CT Directors: H. L. Shearer
A S. Pickett, F. H Meffert, C. M
earn, A. r. Griffin, G. A. Waters. ]
w Huffman
ARTICLE TX
The names, place OF residence an(
the amount Of capital stock subscrib
ed by each Of the subscribers, are a:
follows:
q B Guffey. Ocala. Fla. Is shares.
Geo. ". Brant, Sr., Electra Fla,
II. c. Hoaeman. Lowell, Fla, 1t
shares.
]. r Luffman, Ocala Fla, 2 shares.
Il. L. Shearer, Ocala Fla, As shares.
". o. FUR, Ocala, Fla, share.
]. c. Fore, Ccala. Fla, share.
", NJ Sutherland, Ocala, Fla, 20
shares.
T. M. Phillips, Ocala, Fla, 5 shares.
Louis T. Gutschlag, Martin, Fla, 8
shares.
2. F. Perkins, Ocala, Fla, / share.
/. N. Virgins, Ocala, Fla, 3 shares.
?. T. Wilson, Oak, Fla, 1 share.
c. M. earn, Reddick, Fla, 10 shares
T. Fl. Meffert, Lowell, Fla, 20 shares
A. s. Pickett, Ocala, Fla, 40 shares,
G. A. Waters, Oklawaha, Fla, 10
shares.
J. r. Shearer, Ocala, Fla, 10 shares
STATE OF FLORIDA,
COUNTY OF MARION:
hereby certify that before me per
sonally came E. B. Guffey. Geo. w
Brant, ST., H. c. Heseman, j. F.. Luff-
man, Fl. L. Shearer, w. o. FUR, J. c
Fore, w. M. Sutherland. t. M. Phillips
Louis T. Gutschlag, E. E. Perkins. 7
N. Virgins, P. T. Wilson, C. M. earn,
F. Fl. Meffert, A S. Pickett, G A.
Waters and j. r. Shearer, to me well
known and known to me to be the per-
sons who subscribed their names to
the foregoing charter, and each of
them acknowledged to me that he exc
cuted the same for the purposes there
in expressed and that he subscribed
for the amount of capital stock set
opposite his name.
| further certify that l am a duly
commission Notary Public for the
State of Florida at large and that my
commission does not expire until the
18th day of March, 1928.
Witness my hand and official seal
this End day Of August, 1920
(Notary Seal) GLOVER W. MILLER,
Notary Public, State of Florida at
Large. S6-5t