any under the
laws of the latter State should not exceed $150. The company can be
incorporated for any amount; large or small, one hundred dollars or five
millions, cost and fees being the same. The incorporators need not be
residents of the State. No annual statements required. The meetings of
the directors can be held at any place, and need not be held in the
State where the charter is granted.

Before applying for a charter for a corporation or stock company, the
patentee should mention his plan to some of his friends and get five
persons who will promise to subscribe for one or more shares of the
stock and act as incorporators of the company.

Next he should secure the services of a reliable attorney, familiar with
corporation laws, to prepare the necessary articles of incorporation and
legal papers. The attorney will advise the patentee how to proceed
properly in organizing his company, and as to the securing of the stock
certificates, subscription blanks, seal, etc. These, including the
attorney's fee, should not cost the patentee more than $50.

It is well to have some stationery printed with the proposed name of the
company and business displayed thereon; and also a prospectus
published, setting forth the invention and the plans of the company for
introducing it, etc.

Quite often the patentee can find enough idle capital in his immediate
neighborhood to float a good portion of the stock. Capital is more
easily secured by the formation of a stock company than by any other
means, as people can subscribe for small or large amounts, and they
often prove good investments.

In soliciting subscriptions for stock, it is desirable to get as many
prominent and influential men to buy one or more shares at first to head
the list--their names will be a great aid in making further sales.
Ordinarily the promoter only collects ten per cent, of the amount
subscribed, the balance being subject to the call of the board of
directors.

After it is ascertained that the shares or stock are being rapidly
subscribed for and selling fully up to expectation, the patentee can
have the incorporators sign the charter application and have the
attorney file it with the proper State authorities. This will cost the
patentee about $100 more, for State tax, attorney fees, etc.

When sufficient stock has been subscribed for, a meeting of the
stockholders should be called to elect directors, and to transact such
other business as may be de