Thirty Thousand Dollars, divided into three hundred
shares of the par value of One Hundred Dollars each
which said Capital stock may be paid by the
subscribers, either in cash, personal property, or
real estate, or both, or in labor or services at a
fair and just valuation to be fixed by the Board
of Directors at a meeting of said board called
for that purpose.
Article IV-  The term for which this corporation shall
exist is ninety-nine years.
Article V.  The business of this corporation shall be
conducted by a president, vice-president, and
secretary and treasurer, but one and the same
person may hold both the office of Secretary and
Treasurer.  Said officers shall constitute a Board
of Directors of three members, but the stock-
holders may increase the number of Directors
by a majority vote.  The persons who are to conduct
the business of the corporation until the first annual
meeting on the third Monday in January  A.D.  1913
are J.W. McDowall, President; A.C. Reid, Vice President,
and C.H. Lloyd, Secretary and Treasurer, who shall
also constitute the first board of Directors.
The Directors and Officers shall be elected at the
annual meeting of the stockholders to be held on
said third Monday in January of each year.  The
Directors shall appoint or elect all the officers and
agents of the corporation.
Article III.  The highest amount of indebtedness
of the corporation to which it can subject itself
shall be One Hundred Thousand Dollars.
Article VII.  The following persons are the sub-
scribers and incorporators of this corporation.
     J.W. McDowall,          Gainesville   Florida          150 shares
     A.C. Reid               Newberry,     Florida           50 shares
     C.H. Lloyd              Ocala,        Florida          100 shares
The foregoing Articles of Incorporation are this
day approved and adopted as the proposed char-
ter of the corporation, McDowall-Lloyd Company
at a meeting of the subscribers held for that
purpose at Gainesville, Florida.
     In witness Whereof, we have hereunto set our
hands and seals this 26th day of April  A.D.  1912
                    J.W. McDowall     (Seal)
                    A.C. Reid         (Seal)
                    C.H. Lloyd        (Seal)

State of Florida
Alachua County
Before the undersigned, an officer duly author-
ized to take acknowledgments, personally appeared