Georgia Reports Volume 129

Georgia Reports Volume 129

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1908 edition. Excerpt: ...alone continued to act. Phinizy had seventy shares of stock covcred by the pooling agreement. Martin 8: Bush had a number of shares. Bush and Phinizy both continued to buy stock until each of them had quite a large number of shares outside of the agreement. Altogether Phinizy had 4-l5 shares. The Augusta-Aiken Railway & Electric Company had purchased a majority of the stock in the Augusta Railway & Electric Company. Jackson was a director in the former company. Bush was a stock-broker. On November 7, 1903, Bush submitted to Phinizy, for his examination, the following letter: "Augusta, Ga., November 7, 1903. "James U. Jackson, Esq., "' Dear Sir: --I hereby agree to give you the option of purchasing the stock of the Augusta Railway & Electric Company owned by me and represented by me as trustee, amounting to about one thousand shares, at the rate of fifty cents on the dollar, for each share' of stock of one hundred dollars' value. This option shall extend six months, from January 1, 1904. This option may be renewed for six months from the date of its expiration, upon the payment of $1.75 per share. In the event this option is exercised, there shall be added to the price of fifty cents on the dollar a sum equal to interest at the rate of '7 per cent. per annum on the purchase-price of the said stock, and the said interest shall be calculated from the date of this option up to and including the date upon which it is exercised. There shall be paid for this option the sum of $40,000 First Mortgage Collateral Trust bonds of the Augusta-Aiken Railway & Electric Company. In the event this option is exercised, and the stock paid for, said bonds shall be surrendered and returned to you. In the event...
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Product details

  • Paperback | 400 pages
  • 189 x 246 x 21mm | 712g
  • United States
  • English
  • black & white illustrations
  • 1236864050
  • 9781236864055