The Magnolia gazette., 1892-05-07
QUARTER OF INCORPORATION
or the
Magnolia Cotton Mills.

William Atkinson, lido W.. hampton.
lrnry H. Anderson, Lucius H. hampton.
Cicero q. GibHon, Waiter N. hampton. AIRY
Hall. Julius u. Wolfe aud William NJ.
Wroten. aud tleii associates. successors and
assigns are hereby made = body polite aud
corporate under the anne Of the MAGNOLIA
COTTON MILLS by which name 10 may sue
aud be sued, have a corporate seal and
change II at pleasure.
?, The purposes Of said corporation are
deelsf ed 20 be 10 establish ard carry on a
general manufacturing business, 70 pnrcha
cotton, cotton seed, wool W any textile or
ah#ens anhst-r.'e ard the conversion aud
manufacture thersOf into yarn, eiusk, .as,a
twine. goods. wares and other ceinm0dilles
by the use and applicatieu Of maebiHery and
other apparatus and ths sale Of such articles
either ~ u manufactured state or ae raw
material aud the erection aud nAinienanoe
Of a manniactOry Of cotton, wO0len aud
hempen goods. oil. soap and like materials;
may buy improve and sell land situated any.
where in the State " Mississippi aud make
snsh Itules aud By Laws consistent with tho
Law, ~ they please.
3. The d6iniciis of said corporation shall
be A. Magnolia. MissIsslppi. aud the aita Of
said MAGNOLIA COTTON MILLS shail be
within one mile Of the Depot of the q.
r. X 90 situated in the town Of Magnolia,
nut tho said corporation may have places of
business any where 10 the State.
lUflftIAtNUn
shall be one hundred thOLsand dollars. IN
shares Of one hundred dollars each esrtihca-
trs OF which shall b. issued and signed by the
President or Vice PresIdeut and Secretary
attested by The corporate seal aud shall be
transferable only on the books of the Com
pauy. The capital stock or sharea Of said
stock may be Increased or diminished frDm
lims TO time by a majority vote Of the
stockholders at sny regular meeting. but no
trnnsiara III stock shall be made until the
owner shall have first offered tho same 10
the corporation 30 DAYS, IN writing.
The officers Of said corporation shall be
a President Vice resident. Secretary and
Treasurer and Directors, not more than niue
IL number including tho 0fiicers, aud a ma-
ianty Of said directors shall constitute a
.aofum for the Transaction Of business. The
Treas nrer 0f this corporation shall Id ester.
Ing upon the duties Of his Office, give such
bond aud ln sueh penalty a. the Directors
may require.
8 on the approval Of this charter the
Secretary shall open the books Of the cor.
pOratioB for subseription 20 the capital stock
and when tkifty-flge thousand dollars ahall
have been subscribed. the corporation may
proceed 10 The exercise Of all its powers.
z. The Dir cior. msy,by two'tlrfa vote,
mortgage or otherwise encuiAber the proper
- Of the corporation. issue bonds, negotiate
lOHns and bon row nOnsy for tue purposes Of
the corporation, not 70 exceed tbs capital
stock. and ~ notes. bonds, certificates,
conveyaBces and other papers Of the corpo
: tion shalt be sigDed BY the President or
yice-pFesident aud Secretary and bear II 9
corporate seal.
3 o 1ceFs shalt be elected every year by
a najority vote Of tue Stockholders. but in
case ~ omission. the old officers 70 bold over
until their suecess0rs are elected and quail
fistl Stockholders MAJ vote IN person or
by proxy BY ballot. one vote 70 each share
of stock. bat after its first organization no
failure % hold an election shall work a
dissolution ~ the eorpgI alton aud In case Of
= vacancy in ANY office the Directors shall
meet at once aud fIi such vae4ncr.
. The meetings Of The Directors. shall be
81 MsgBslia. Mss, on the call Df the Presi.
deBt or Vice President Or two Director.
10. The Directors shall detes mine By a
/ two third vote the compensation Of any
officer and shall determine from time q
time what per cent Of the subscribed stock
shall be called IN to meet the demands upon
tie corporation and assess aud collect the
same aud no storkholder shall be Individually
liable for tho debts or obligations Of ths
corporation beyond the amount OF unpaid
stock held BY him.
IL. This corporation shalt not have sue
! cesaion heyond : period Of 80 years.
may7 is924t