acted by the corporation is to be the manufac-
ture and sales of turpentine, acids, tar, and other
products, operating of railroads, but not as a
common carrier, steamboats, and other means
of transportation; buy, sell, lease, and mort-
gage real estate, and personal property; buy,
sell, lease, erect and operate, plants, buildings
and structures; conduct a naval stores busi-
ness; carry on a general merchandise business
purchase receive own, hold, sell, and dispose
of stocks, shares, bonds, securities or obliga-
tions of other corporations wherever located;
buy, sell, lease, own, and use machinery and
appliances, supplies, and personal property of
whatsoever nature necessary for the carrying
on of the business and this corporation shall
have power generally to do and perform, have
hold, acquire, and enjoy all other property
powers, and things as shall be incident, ne-
cessary or expedient for conducting the opera-
tion of the business, and generally to be vested
and have all the powers granted or which
may be hereafter granted under the Laws of
Florida.
                    Article III
     The amount of the capital stock of the
said company shall be One Hundred Thousand
Dollars, divided into one thousand shares; each
of the par value of One Hundred Dollars each
and shall be paid as follows:  Fifty Thou-
sand Dollars in cash the balance to remain
in the treasury to be disposed of in such
manner as the directors may designate.
                    Article IV
     The term for which this corporation is to ex-
ist is ninety nine years.
                    Article V
     The business of this corporation shall be con-
ducted by a president, vice-presideent, secretary, treas-
urer, board of directors, and such other officers
or agents as may from time to time be elected 
or appointed, that the office of secretary
and treasurer may be held by the same
person.
     A board of directors to the number of three
shall be elected by the stockholders at the
meeting to be held on the first Monday in
June  1906, and annually thereafter, or they
may be elected at any adjourned annual
meeting.