The Grenada sentinel. [volume] (Grenada, Miss.) 1868-1955, 1883-06-30
The Charter Of Incorporation
The Grenada Compress
COMPANY.

OOME AN IL
/. The Corporation is created for the
purpose CT establishing, erecting and cons
ducting Factory IN the town Of Grenada,
Grenad 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 and 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 com.
press cotton and to manufacture for use or
sale. hoops, slaves, hogsheads, barrels kegs
OF 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. Mllburn, John Powell, VIM. McSwine.
8. The Corporate name by which the
Corporation is to be known shall be "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 kline
and to gin seed cotton and to convert, re.
duce and manufacture cotton seed anC
seed cotton intoany form or condition fol
sale, use or consumption, and to use, dea
in or dispose of the same; and the powel
to bale, press and compress cotton for it
own purposes or for other persons for com
pensation and the power to manufactur,
for its own use; or for sale, hoops, slaves
bogsheads, barrels, kegs, wood ware O
wooden vessels of any kind; and the pow
er to own or employ vehicles, animals
steamboats, or other water craft and othe
means Of Transporting materials, good
and other property, and 10 fix and collec
its charges for It's goods, wares, oils AM
other articles and for its services. An,
the said Corporation shall also have all tn
powers, privileges, immunities and author
ity provided for or granted to Corpora
tlons created or authorized by chapter 81
of the Revised Code of Mississippi Of 1880
and the amendment thereto passed by tb
Legislature of Mississippi and approve,
March 1882, being chapter XXVI, OIL
pages 50, 81, of the session acts of 1882
entitled "An Act to extend the provision
Of chapter 38 Of the code of 1880 in relation
to Corporations and other associations AM
for other purposes y and shall have all th
powers and be authorized to do all acts o
any kind which may be necessary, prope
or incident to the establishment erection
or management of the factory aforesai,
and for carrying out the purpose thereo
not inconsistent with the constitution an,
laws of the State of Mississippi or Of th
United States and shall have all the COW
ers, rights, privileges, immunitios and ex
emptions granted or conferred by an act o
the Legislature of the State of Mississippi
approved March 9, 1882, found on pages 81
IS, of the session acts Of 1882, being chap
ter, XIX, thereof and entitled "An Act t,
encourage the establishment of Factories
in this State and to exempt them from
taxation"
5. When stock to the amount of thirt,
thousand dollars has been subscribed ant
one half thereof has been paid in, the Cor,
poration shall be considered as organized
the shares of stock shall be one hundred
dollars each and each share shall entitl
the holder thereof, to one vote at any stock
holders meeting, to be cast by the share
holder in person or by proxy certificate
shall be issued for the stock which shall b,
transferable according to the BY Laws o
the Company.
6, The business of the Corporation shal
be managed and controlled by five direc
tors who shall be chosen annually from til,
Stockholders'und shall annually elect on,
of their pumber as President, and the,
shall hold their offices until their success
sors are elected and qualified Three o
said Directors shall constitute quorum
for the transaction of business, and vacan
cies in the Board may be filled by the re-
manning members. The domieile of thu
Corporation shall be the town OF Grenada
aforesaid.
I. Until the first election of Directors j,
held the affairs of the Corporation shall bt
managed by the five individual stockhol
ders having the largest number of shares
who shall have all the powers and author
iiy Of directors chosen by the stockhol
ders. Any two of the Corporators named
in paragraph No. 2above, may act as COM
missioners to take subscriptions tothe 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.
Y. No Stakeholder Of this Company shall
ever be liable or responsible fore the con-
tracts. liabilities or debts of the company
in any further sum than the unpaid bal
ance due to tho Company on the shares
owned by him, nor shall any mere infor-
maliiy in organizing the Corporation have
the effect to render the Charter null or to
subject stakeholder to any further liabil-
ity than for the unpaid balance due to the
Company on the shares owned by him.