The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1922-01-16

NJ NJ. EBERT
PROPOSED CHARTER OF INDUSTRIAL
LOAN n SAVINGS. INC
| The undersigned hereby associate them
selves together for the purpose Of becoming
incorporated and forming 4 corporation under
ANA by virtue OF The Laws "a ihe state ri
Florida. and adopt the following ARTICLES OF
INCORPORATION as and for their PR0PoS
ED CHARTER.
The name of the Company shall he INDUS
TRIAL LOAN ~ SAVINGS, INC and its bus
mess shall he conducted in Polk county, State
Of Florida.
The principal place of business shall he i'll
the City Of Lakeland. Polk county. Florida.
The general nature of the business and bus
inesses TO be transacted by this cooperation
shall be lending of money with or without St
curitY to borrow money and 10 execute notes
and TO secure the same by mortgages. and
other instruments known Ia the law for the
purpose Of securing Indebtedness 10 buy, sell
hole, lease, rent. mortgage and deal in real
estate or personal property, stocks ur bonds
of any and all descriptions, necessary. dcSir-
able or convenient i'm the conduct and opera
iiuh of its business or businesses without any
particular limiting amy of the objects and pow
Crs Of the corporation.
It is hereby expressly declared and provided
that the corporation shall have the power t.,
make and perform contracts of any Kind ami
description. and for the purpose Of attaining
or furthering any or all Of It's objects. To do
m.y and all other acts dCeLS and things. and
to exercise any and all powers. PRIVILEGES and
franchises not prohibited by the laws Uf the
STATE of Florida
III.
+ The total authorized capital stock o. the
con p0ratiOn is fifty thousand dollars $50
eco OU) divided into five thousand Coon
shares of the Far value Of ten dollars ($ln.0M
per share. or the said five thousand ti,Onnl
shares two thousand. five hundred T. rNr,
hare, Sh1l he rrefcrrc Stock one Thousand,
two hundred fifty tl,2jGl shares shall j.,
Class ~ Jummon S.nrA a.,d one Thousand.
two hundred tuy q .2Jri shares shall Be- tl,S
r" Common S;.cA an Of which stock shall
be paid fer in lawful m,nes Of tho tnit"d
States. save and except that Dix hundred MY
. { % shares of Class, II" Common Stock may
he raj, for IN property. Labor or service at 4
lust valiaI ion to be determined by the incur-
uorH,urs
Prom time 10 tim, the Preferred Stock and
,ha CCnmun Stock r;ay he increased acrurdinE
10 law. aud shall he i.Scc n such, imulIn,.
and on such tciias rs shall BE- determined b.
e.. die Board az l,.fc, tor. AMI ~ niay be pe,
nit cd by thi, chatter. any amendments tIcre-
a. and ;hc law.
The holders nf Preferred Stn.H hall !:
entitled 20 receive a. # ;ud uh-., DECLARED
from Tb. snrul,s ~ W.; .,r ,1., q, ,j,, e ,r
uorntion vegriv Ii,.i.i-nI. -. H., ~ If Ctch,
her csnt Is per cen. uac lalu. sad no nor
The dividecds on ;tp pf.;,r,..t .,....i; >Ea! 80.
cumulative and si;aI he parable herarr ANY
dividends on the common s. 5ck ,h,3 IN. paid
or set aparr. So that il any .lir'derds yearly
aIroun:;ng ~ ejfh. ugr c,a, Is ppr senU shall
hns-. RI IA 4r,n ba fiptipiu go
49, nt ~" ~ - n,- .,,. d:r,t,,d .h,I lie
IA w - -, 60. ~, C,n,ca" Sci,
! Whenever The cumulative dividends on tine
] Preferred SICK for -he n-r.ious Years shall
have bee, der'or,.. and th, ron,9any shalt
h,te nn;d tho so,no mr. .,,an hlTc 81: aside
lis grul,s ii ,.i proflt,. m imo;,n. 7T:ii-
r:cnt for the demand, fhcreoa 'he BOARD o!
directors .hli Il care dividends on the Clas.
) ~" Common stock payable then OF there
after onl Of any remaining surplus OF net
profits tn tie amount Of el.ht per cent Is pes
cenn par value and no more
: Whenever accinuiatiyc dividends Of said
! Preferred Stock ,haa have trcI paiG. ami
whenever eight per cont Is per csnD shall
! have been paid on Class AZ common Stock.
there shall remain any surplus or net pro.
Gee; = not necessary In Tho np,ni~n Of the
Poard Of Directors 10 the proper conduct Of
the business on the CORPORA ion, than the
Board Of Dlrcc ors shall C.. iarc dividends on
Class r." common Stock, payable then and
thereafter ont Of aEy remaining surplus or net
profits To the amount Of elch, per cent Is per
rcnN p?r va'uc and no more.
Whenever cumulative dividends u said Pre-