assume obligations in satisfaction and collection of debts
due it.
III.  The amount of the capital stock authorized shall be
fifty Thousand Dollars divided into five hundred shares
of the par value of One Hundred Dollars per share.  The
capital stock may be issued from time to time fully paid
up in lawful money or for property or services at a
just valuation to be fixed by the stockholders of said
company.
IV.  The term for which this corporation shall exist
shall be ninety nine years.
V.  The business of said corporation shall be conduc-
ted by a President, Vice-President, Secretary and Treasurer
and a Board of Directors to consist of not less than
three nor more than seven members, as directed in the 
by laws of said company and of such other officers and
agents as shall be authorized by the bylaws of said
company, provided the office of Secretary and treasurer
may be vested in and the duties thereof exercised
by one person.  The Board of Directors shall be elected
by the stockholders at the annual meeting to be
held on the second Tuesday of July of each year
and all other officers shall be chosen at the
time and in the manner directed by the by
laws.  The first meeting of the stockholders shall
be held on the Third Thursday in December
for the purpose of completing the organization
of said corporation, adopting bylaws and transact-
ing generally the business of said corporation.
     The names of the officers who shall con-
duct the business of the corporation until those
elected as herein provided shall qualify are as
follows:
     President                   F.M. Brannon.
     Vice President              T.A. Stringer
     Secretary and Treasurer,    Wh Searcy,
     Board of Directors,         F.M. Brannon, T.A. Stringer,
                                 and M. Searcy.
VI.  The highest amount of indebtedness to which
this corporation shall at any time subject itself
shall be Fifty Thousand Dollars.
VII.  The names and residences of the subscribers
and the amount of stock subscribed by each are as
follows:
     F.M. Brannon,          Cairo,   Georgia,     100 shares,
     T.A. Stringer,         Cairo,   Georgia,      60 shares,
     Wh Searcy,             Cairo,   Georgia,      50 shares.

     In Witness Whereof, we the subscribing incorpora-
tors have hereunto set our hand and seal
this 13th day of November, 1911.