The Brookhaven leader., 1890-01-02
THE CHARTER
Of Incorporation Of the
East Union MUS.

NaltN, anu Sli ptiSi INhSN -
hereafter become associated with
them, and their successors ana
assigns are hereby created body cor
porate under the name of EAST UNION
Mills and by that name shall have
perpetual succession, may sue and he
sued. plead and be impleaded, i'll all
courts of law and equity and may
have and keep a corporate seal anu
may alter same at pleasure.
SEC. 2. The capital stock of said
company shall be $4,000, but the
same may be increased by majority
vote of the stockholders to sum not
to exceed $4,000. This capital stock
shall be divided into shares of 5000
each and each share of stock shall
entitlc the owner thereof to one vote
Mt all meetings. \ majority of the
entire stock issued shall constitute a
quorum for the transaction OF busl-
ness. No stakeholder shall be liable
individually for any debt or Liability
of said company beyond the amount
remaining unpaid on stock subscribed
or purchased by him; and payment to
said corporation or to any person UNI
der judicial process of the full
amount at par of the stock subscribed
or purchased, shall exempt such
stockholders from all debts and lia-
bilitics of said company.
SEC. 3. The principal office OF said
company shall be in the town of
Brookhaven, Mississippi, with such
branch offices to be located when and
where the stockholders may deem
convenient; and as soon as S5,00O.OO
shall have been subscribed TO the
capital stock of the company, the
stockholders may organize and begin
the proposed business.
SEC. 4. Said company may have
power to inauguratc and carry ON at
or near the said town of BroOkhavcn
and in the counties of Lincoln and
Lawrence in this State timber and
lumber business; also the manufacture
of lumber into any and all articles of
merchandise into which the same is
convertible, and have the power to
purchase. acquire and hold without
limit all kinds of property whether
real, personal or mixed, and may sell,
mortgage, cucumber or otherwise
transfer the same at will, and gener-
ally do all things that may be bene-
fetal or advantageous to the interest
of said company. 1t may also make
and execute notes, drafts and bills of
exchange and may receive and dis
pose of the same i'll the course of its
business. 1t may take deeds in trust,
mortgages, evidences of debt and all
manner of security for money due
said company: and may buy or dis
pose of real or personal property
whenever it is to the interest of said
company to do so.
SEC. 5. Said company may have the
power to erect whenever convenient,
buildings, saw mills, planning mill and
such machinery as the proposed bust
ness may require, to construct and Opcr-
ate ways or roads of iron, wood or steel
over which to carry and transport
by the power of steam, animals or
mechanical contrivances for the con-
yenicnce of said business.
SEC. &. The stockholders shall
have the power to enact and adopt
such bylaws, rules and regulations re-
garding the duties of officers, their
salaries, the board of directors and
its powers and duties, and in all such
rules and bylaws regarding the gen.
eral conducting and controlling of
said business as may be deemed nee
essary, and the same may be repealed
at pleasure; PrOridcd, no rule, bylaw
OF regulation shall be in conflict with
the Constitution of the United States
and the State of Mississippi.
SEC. 7. All officers may be elected
for period of one year, which shall
be their term of Office, and they shall
continue in Office until their success
Ors are elected and have qualified.
Any officer can be removed by the
stockholders for good cause before the
expiration of his term.
SEC. s. Any vacancy that may Cc-
eur by death, resignation or removal
of any officer or member of board of
directors may be filled by said board
until the next meeting of the stock
holders.
SEC. 9. The officers of the company
shall constitute board of directors
with power to regulate and control
the business of the company as pro-
vided by the bylaws of the COM
pany, but only for the time they hold
their respective offices.
SEC. 10. The stockholders and
board of directors may each deter
mine the time for their regular meet
ings. Special meetings may be called
whenever the President is advised of
the necessity of the same. a major
ity of the board shall be II quorum
for the transaction of business.
SEC. II. Dividends shall be declared
by the board of directors at the end
of the year OF at any time the stock
holders in meeting may order.
SEC. II. The officers of the COM
pany shall be President, Secretary
and Treasurer, with such powers and
duties as the stockholders may pre-
scribe in their bylaws and regula-
tiOns. One person may hold two
offices if the stockholders so desire.
The above is charter which the
undersigned will asked the Governor
OF Mississippi to approve when this
publication is completed.
JOHN l.. WHITE.
j. b. NALTY.