The Grenada sentinel. [volume] (Grenada, Miss.) 1868-1955, 1883-07-14
The Charter Of Incorporation
The Grenada Ols Compress
COMPANY.

COMPANY.
/. The Corporation is created for the
purpose CT establishing, erecting and cons
Quoting Factory IN the town Of Grenada,
Grena da county Mississippi, for the man-
ufacture of Oils of any kind and to gin seed
cotton and to convert, reduce and manu>
facture cotton seed AMI seed cotton into
any form or condition for sale, use or cons
sumption, and to use, deal in or dispose Of
the same, and also to bale, press and coH,>
press cotton and to manufacture for use or
sale. hoops, slaves, hogsheads, barrels kegs
or wood ware or wooden vessels of any
kind, and to own or employ vehicles, ani>
mails, steamboats, or other water craft and
other means of transporting materials,
goods and other property.
2. The names of the persons Incorporat.
ed are j. w. Caldwell, R. P. Lake, John
D. MIlburn, John Powell, VIM. McSwine.
8. The Corporate name by which the
Corporation is to be known shall be 1.-THE
Grenada Oil And Compress Company
4. The powers to be exercised by said
Corporation shall be the following, to wit:
The power to manufacture oils Of any kind
and to gin seed cotton and to convert, re-
duce and manufacture cotton seed and
seed cotton into any form or condition for
sale, use or consumption, and to use, deal
in or dispose of the same; and the power
to bale, press and compress cotton for its
own purposes or for other persons for COM
pensation; and the power 10 manufacture
for its own use; or for sale, hoops, staves
bogsheads. barrels, kegs, wood ware or
wooden vessels of any kind; and the pow
err to own or employ vehicles, animals,
steamboats, or other water craft and other
means of transporting materials, goods
and other property, and to fix and collect
its charges for its goods, wares, oils and
other articles and for its services And
the said Corporation shall also have all the
powers, privileges, immunities and authors
ity provided for or granted to Corpora
tions created or authorized by chapter 38
of the Revised Code of Mississippi Of 1880,
and the amendment thereto passed by the
Legislature of Mississippi and approved
March 1882, being chapter XVI, on
pages 80, 81, Of the session acts of 1882,
entitled "An Act to extend the provisions
Of chapter So Of the code of 1880 in relation
10 Corporations and other associations and
for other purposes !" and shall have oil the
powers and be authorized to do all acts of
any kind which may be necessary, proper
or incident to the establishment erection
or management OF the factory aforesaid
and for carrying out the purpose thereof
nn 4 tha tntsn nd
laws Of the State Of Mississippi or of the
United States and shall have all the Eew~
trs, rights, privileges, immunitios and ex>
rmptions granted or conferred by an act of
the Legislature of the State of Mississippi,
approved March 9, 1882, found on pages "a,
IS, of the session acts Of 1882, being chaps
ter, XLlX, thereof and entitled can Act to
encourage the establishment of Factories
in this State and to exempt them from
taxation"
S. When stock to the amount Of thirty
thousand dollars has been subscribed and
one half thereof has been paid in, the Coz,
poration shall be considered as organized,
the shares of stock shall be one hundred
dollars each, and each share shall en,itle
the holder thereof, to one vote any stock
holders meeting, to be cast by the share.
holder in person or by proxy; certificates
shall be issued for the stock which shall b.
transferable according to the BY Laws of
the Company.
6. The business of the Corporation shall
be managed and controlled by five direc-
tors who shall be chosen annually from the
Stockholders and shall annually elect one
of their plumber MS President, and they
shall hold their Offices until their success
sors are elected and qualified. Three of
said Directors shall constitute Il quorum
for the transaction Of business, and vacan-
cies in the Board may be filled by the re-
naming members. The domicile Of the
Corporation shall be the town OF Grenada
aforesaid.
Z. Uuhl the first election of Directors is
held the affairs of the Corporation shall he
managed by the five individual stockhol-
ders having tho largest number Of shares,
who shall have all the powers and author
ity Of directors chosen by tie stockhol-
ders. Any two Of the Corporators named
in paragraph No. above, may actas COM
missioners to take subscriptions to the cap
ital stock, until the Corporation becomes
an organized body, and thereafter subscrip-
tions shall be taken according to such BY
Laws as the Directors may make on the
subject.
8. No Stakeholder Of this Company shall
ever be liable or responsible for the con-
tracts. liabilities or debts Of the company
in any further sum than the unpaid bal
liza anS no ukn
owned by him, nor shall any mere infor-
mality in organising the Corporation have
the effect to render the Charter nun or to
subject stakeholder to any further liabil-
ity than for the unpaid balance due to the