incorporators, upon the payment by them of the par 
value thereof, as subscribed.  The balance of said stock
shall be held as treasury stock, and may be hereafter
issued, as may be provided by the by-laws of this cor-
poration, and by authority of the stock holders, of this
corporation, but no stock shall be sold for less than par.
                    Article IV.
     This corporation may continue for the period
of fifty years.
                    Article V.
     The business of this corporation shall be con-
ducted by a president, vice president, secretary and treas-
urer and a board of directors, consisting of seven mem-
bers, a majority of whom shall constitute a quorum.
Said officers shall be chosen from the stock holders
of said corporation, annually, on the first Saturday of
January of each year and every year, and the said board
of directors may appoint any other officers, agents
or employees, or authorize the president or vice-pres-
ident to do so.  Until the election and qualification of
other officers, the following shall be the officers of this
corporation:  T.W. Shands, President; W.W. Hampton,
Vice President; L.J. Clyatt, Secretary and Treasurer;
and T.W. Shands, W.W. Hampton  D.J. Clyatt, Antoine
Paul, B.F. Hampton, J.B. McDonald and L.B. McDonald,
Director.
                    Article VI.
     This corporation may incur and contract for
indebtedness to the extent of Fifty Thousand Dollars ($50,000.00)
                    Article VII.
     The names and residences of the stock-hol-
ders of said corporation are as follows:
T.W. Shands,     Gainesville  Fla;     30 shares     $3000.00
J.B. McDonald,   Gainesville, Fla;     30 shares     $3000.00
L.B. McDonald,   Gainesville  Fla;     30 shares     $3000.00
W.W. Hampton,    Gainesville  Fla;     15 shares     $1500.00
B.F. Hampton,    Gainesville, Fla;     15 shares     $1500.00
L.J. Clyatt,     Gainesville  Fla;     15 shares     $1500.00
Antoine Paul,    Gainesville, Fla;     15 shares     $1500.00

State of Florida     }
Alachua County       }
                      On this 1st day of December
A.D.  1905, personally appeared before me T.W. Shands,
W.W. Hampton, J.B. McDonald, B.F. Hampton, and L.J.
Clyatt, each of whom being to me well known, and known
to be the persons described in, and who sub-
scribed their names to the foregoing Articles of In-
corporation and severally acknowledged the due
execution of the same for the uses and purposes