*2 Zion. Wm. s. ~Tpvt!oa, pege 2

l n old oorpamtlon l&o a nev ooPpomtlon In ac- OtmQgo for the rtwk of the uw o o r p owt~oa moea the capits atook requlrwent of Artlole 1530, lf thr aa8ets txusorierral to the new aorponrtloo la- ol.\de tmre thma $100.000.00 in oerh.

'An early opinion on thla question ~111 be qtpreamed."

ArtlcIe 1529, Vernon'8 Annotated Tern8 CirLl Statutes, provides for the lsauauae of perrpits suthorblng fox'd@X corporetima to trsnaaat buslnasn :n Tema.

"bfora awh pm& La larwd rwh oorpn- tioa rbll nhmf to wlo rrtlafwtlon of the BeaIy- k~ofatatetlmt~tlr8tonehmdMd thauulrd dollor@ la oorh 81 tb.~mathorUod O@;gltrl rtoar tnr beea pal6 in, Qr that fifty per ooat of the&r suthorbed osplt~~latockhan beanaub8oribal,and at l-et ton per oeat tImNor plld W."

IJrder the facts ttrted la fotu' letter more than )100,000.00 in oaah has km paid iuto the oerpomtloa. We l 88umetrollpus lotkrttmtuwna paldlo a8 l uthWod oagltil rtwlc of the ooEpomtion. uM*r the irota rtrtou l Bd l 88rawb, %t 18 OUT O@=tOtlthrt tb Off omtiOn8-k the oapltal 8tOak raqU%l'OWat oi ArtLola. 1530, VW'Wn'8 ,Aano- trtti Otti bt8tUt.8, 8-r

/8/ Ore~6r Sellera

FIRST ASSISTAAB

ATTOl?BXoIFBlBRAL