The Pascagoula democrat-star. (Pascagoula, Miss.) 1878-1920, 1896-12-18
The CHARTER OF INCORPORATION
OF THE
Merchants Transportation Company.

Be it known, that on this, the LIST day
of December, A. ID. 1876, q. NJ. Luce, Ell.
Mitchell, John s. McKibbin, Barclay
SpottswOod and j. W. Stewart. by virtue
OF the provisions of Chapter 25 Of the
Annotated Code of the State Of Missis-
sippi, and the acts amendatOry thereof.
do organize and found n corporation for
the objects and purposes hereinafter
enumerated; and to that end and pur-
pose TREY do by these presents with the
approval Of the Governor OF the State of
Mississippi, form and constitute them
selves, and all such other persons as may
hereafter become associated with them
into Il body polite and corporate IN law
under the following articles Of the Char
tor Of said corporation, to.wit:
ARTICLE l.
~ he name and st. lie of this corporation
shall be the MERCHANTS TRANSPOR-
TAIION COMPANY, and in that name
shall exist for the period of fifty years
from the date Of the approval of this
Charter nnless sooner dissolved by a vote
of three. fourths of it's stockholders, and
may by purchase, or otherwise acquire,
have, hold and enjoy such real and per-
sonal property, not to exceed in value the
SUN otTwO Hundred and Fifty Thousand
($25O, 000)DOllars, as may be necessary tor
the purposes for which this organization
is formed. and shall in addition possess
all the rights and powers which corpora
tons under the genral laws Of the State
of Mississippi are authorized to exercise
OF possess.
ARTICLE II.
The dolnicile of this corporation shall
be Scranton, Jackson county, Mississippi.
ARTICLE III.
The capital stock of this corpara tion is
hereby fixed ut Ten Thousand (Sl0, 900
Dollars, divided into Two Hundred (2OO)
Shares, Of Fifty (S50) Dollars each. As
soon as this Charter shall be approved
the said G. M. Luce, Ed. Mitchell, John
S. McKibbin, Barclay Spottswood and J.
| W. Stewart shall at the domcile of said
corporation open books Of subscription to
| tho stock of said Company. and when
Three Ihousend ($3,000) Dollars Of stock
shall have been subscribed. a meeting OF
Stockholders shall be called, Of which
meeting all OF said stockholders shall
have notice, and at which meeting the
said stockholders shall elect Eve Direc'
tors, each of whom must be the owner Of
at least Que share of the stock Of said
Company, who shall serve as such until
the first Wednesday in January, A. d
1898.
ARTICLE w.
The objects and purposes of this cor
poratiOn are hereby declared to be, tt
own and operate Il or more steamboats,
and other water. craft, for the purpose O
transporting naval stores, merchandis,
and passengers for hire. between point'
on the PascagOnla, Chiclasahay ant
Leaf rivers aud such other poiuts AM
places rs the Board of Directors may dies
ignate; to own aud operate warehouse
for storage Of naval stores and MERIDIAN
disc, aud to do all such other legal act
as may be necessary to successfully carr.
out the objects aforesaid. 80
ARTICLE VI.
The corporate powers. Of this corpora
ton shall I've vested in a Board of Fiv
Directors, who shall DO elected by til
stockholders within sixty days after til,
approval of this Charter, and on the frs
Wednesday in January, 1893, and annual
~ thereafter on tue first "Wednesday q
January, in each year. The Board Q
Directors at their first meeting, and al
nually thereafter following every cleo
ton Of DIRECTORS, shall organize by cleo,
ing II President, Vice-P President, Secrera
nv and Treasurer, provided that the tw
last named Ofices may be filled by th
, same person. Vacancies on tho Board {
Directors shall lie filed by the stool
; holders at an election to DO held for thu
purpose on five days notice by the Sc,
I ietaIy to the stockholders. A majorit
of the Board of Directors shall const
. tute IL quorum; said Board Of Directo
a may appoint from time to time, also di
miss ut their pleasure, snch officer
. agents aud employees rs they may dee
necessary for the business and purpos'
h Of the corporation /; they may establis
d az we'll as alter and amend all bylaw
rules and regulations necessary ri
: proper for The business Of said corpor
tiOn. " Sd.
~ G. NJ. LUCE,
ED. MITCHELL,
o BARCLAY SPO1TSWOOD,
JOHN i. McKIBBIN,
j. W. STEWART.
December IL, 1896. 4S-3l