and sell stock securities or obligations of other corporations; to hold
buy, convey, sell and mortgage any and all property, necessary
or required to accomplish the purposes above set forth; to have
agencies and employ agents at such places as may be in the opinion
of the officers of the corporation neccessary or expedient - and to do all
things neccessary or advisable for the successful transaction and
conduct of the business of the corporation.
The capital stock of this corporation shall be ten thousand dollars
($10,000.00) divided into one hundred (100) shares at the par value
of one hundred dollars ($100.00) each 25% of which shall be paid in
cash as soon as this charter shall be granted, and the balance at
such time and in such manner as the Board of Directors shall elect.
                    4th-
The term for which this corporation shall exist shall be ninety-
nine years.
                    5th.
The officers of this corporation shall be a President, a Vice President
a Secretary, a treasurer, and a board of directors of not more
than six (6).  The President, vice president, secretary, and treasurer
shall be members of the board of directors.  All members of the
board of directors shall be stockholders of this corporation.  The
board of directors shall be elected by the stockholders of this corpor-
ation on the first Tuesday after the first Monday in January of each
year.  All elections of directors shall be by ballot.  Each stockholder
shall be entitled to one vote for each share of stock held by him.
The president, vice president, secretary, and treasurer shall be
elected by the board of directors.  The President, vice president
and secretary shall be stockholders of this corporation.
2.  The time, place and manner of holding stockholders meetings
of this corporation shall be fixed by bylaws of this corporation.
3.  The Board of Directors shall have power and authority to 
appoint any other officers or agents, as they may deem necessary
or expedient for the carrying on, transacting, and conducting
the business of this corporation.
                    6.
The officers who shall conduct the business of this corporation until
the first election of officers, as herein provided shall be as follows:
     C.N. McArthur     President and general manager
     W.J. Priest       Vice President
     S.A. Hussey       Secretary
     C.D. May          Treasurer
and the following directors:  C.N. McArthur, W.J. Priest,
S.A. Hussey, C.D. May, J.F. Ruff and S.P. Getzen.
                    7.
The highest amount of indebtedness to which this corporation shall 
subject itself shall be ten thousand dollars ($10,000.00)
The                 8
The names, residences, and number of shares subscribed for f by
each of the subscribers, in this corporation are as follows:
     C.N. McArthur          Newberry   Fla.          52 Shares