corporation in selling and disposing of its prop-
erty from time to time; and also for the purpose
of operating turpentine farms and leasing land
for this purpose; and cutting and shipping logs
and timber, and manufacturing lumber, and for
the sale and disposal of the same, and to do all other
things necessary for the transaction of said business, and
to develope the resources of such Real Estate as it may
purchase and hold as it may deem expedient from time
to time, and constructing and operating railroads and tram
Roads for the purposes of said corporation, and may
sue and be sued, plead and be impleaded, contract and
be contracted with, make and use a common seal and 
alter and amend the same at pleasure and make and
adopt and put into execution such by laws, rules and
regulations as may be deemed necessary and expedient
for the government and management of the business of said
corporation.
2  The capital stock of said corporation shall be fifty
thousand dollars with privilege of increasing the same
to one hundred thousand dollars, divided into shares
of one hundred dollars each.
Fifty thousand dollars of the capital stock has been subscrib-
ed, and ten per cent of the capital stock has been
paid in.
3  The control and management of the affairs of this corpora-
tion shall vest in a Board of Directors to consist of seven
members elected from the stockholders of this corpora-
tion in accdordance with its by-laws and to serve un-
til March 1st  A.D.  1892 and until their successors
are duly elected and qualified, and the following
named members of this corporation shall constitute
its first Board of Directors, to wit:
James E. Young, John Y. White, Ambrose B. Hart, James P.
Getzen, James A. Crawford, V.J. Herlong and William
R. Bush.
The Directors shall choose from their number a
President, Vice President, Secretary and Treasurer.
4  The annual meetings of the Stockholders shall take
place on the first Monday of March of each year.
5  The largest amount of indebtedness at any one time
shall not exceed the sum of fifty thousand dollars, and
that upon ten days notice to any stockholders requiring
the payment of an assessment by him, he shall pay
such assessment to the Treasurer or such officer as
shall be designated in the notice of assessment, and should
any stockholder fail after thirty days notice to pay any
assessment, such stockholder shall forfeit all stocks, all
cash assessment paid in, and all right and property