of the corporation at any special meeting called for that purpose.  The
officers anddirectors shall be elected annually at the anual stockholders meet-
ing, the first of which shall be in the company's general office in Gainesville
Florida, at ten o'clock A.M., on thefirst Tuesday in January, 1908, and
annually thereafter, and until such first election the names of the officers
who are to conduct the business of the corporation until those elected at the
first election shall be qualified, are as follows:  viz:
     J.B. Padgett.  President;
     W.R. Thomas,  Vice-President;  and,
     R.E. Hill, Jr., Secretary and treasurer;
     The Board of Directors shall be J.B. Padgett, W.R. Thomas, R.E. Hill, Jr.,
and J.A. Maultsby, until their successors shall be elected.
                      6th.
     The highest amount of indebtedness or liability to which the corporation
shall at any time subject itself shall not exceed the amount of its capital
stock at such time actually paid in.
                      7th.
     The names and residences of the subscribing incorporators to this corporat-
ion, together with the amount of stock subscribed by each, are as follows, viz
          J.B. Padgett,           Gainesville, Fla.,          275 shares;
          W.R. Thomas,            Gainesville, Fla.,          275 shares;
          R.E. Hill, Jr.          Gainesville, Fla.,            1 share;
          J.A. Maultsby,          Campville, Fla.,              1 share.
     The amount of the stock so subscribed exceeds ten per cent of the capital
stock authorized under this charter.
                      8th.
     The capital stock remaining in the treasury at the time of the issuance of
Letters Patent shall not be sold or otherwise disposed of except by the mu-
tual consent of the stockholders of this corporation holding ninety per cent
of the capital stock outstanding and issued.
     The above and foregoing charter is subscribed to by the following persons
viz:
                                   J.B. Padgett,
                                   W.R. Thomas,
                                   R.E. Hill, Jr.

State of Florida,
Alachua.
                      Before me personally appeared J.B. Padgett, W.R. Thomas and R.E.
Hill, Jr., to me well known and known to the above charter, and each severally
acknowledged before me that the above and foregoing signature is his signature
     In witness whereof, I have hereunto set my hand and affixed my official 
seal this second day of September, 1907.
                      W.S. Broome, Notary Public, State of
          (SEAL)      Florida at large.
                      My commission expires 14th December
                      1908.

                           :
State of Florida,          :      
Office Secretary State     :     I, H. Clay Crawford, Secretary of State of the
State of Florida do hereby certify that the foregoing is a true and correct