Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1898-01-08
CHARTER
OF Incorporation Of the Anderson 8 Baker
Company.

Section 1. L. l.. Anderson and w. Nj.
Baker and their associates and success
sors, are hereby created a body polite
or corporation, to be known as THE
Anderson and Baker Company with
all the rights, powers, and liabilities
incident thereto under the laws of the
State of Mississippi, with fright of sue
cession for a period of fifty years from
the approval of this charter.
Sec. IL The purposes of said corpora
t'cnsshall be to engage in, manage and
conduct a general mercantile business
in the town of,Shuquslak in the comfy
of Noxubee, State of Mississippi, and
their domicil shall be in said town of
Shuqualak in said county and state, and
to that end said corporation may deal in
all lawful merchandise, buy and sell
the same in the same manner and to the
same extent as any merchant, mercan
tile company or mercantile corporation
Section III. The capital stock of said
corporation shall be Seven Thousand,
Five Hundred Dollars, and shall be Iii.
vided into shares of Five Hundred Dol
lars each; but said corporation may. at
any time it deems proper, necessary or
desirable, increase its capital stock to an
amount not exceeding Twenty Thous-
and Dollars, and it may commence bus
mess as soon as this charter is approved
and said capital stock subscribed for,
with fifty per cent thereof paid up.
Section ". The officers of said cor
poration shall consist of a President and
Secretary and Treasurer, who shall be
the directors of said corporation and
manage the businefs thereof.
Section V. A majority of the stock
holders of said corporation shall consti-
tute a quorum at any meeting that may
be called by the officers and a majority
in interest of said stockholders may at
any such nesting, enact any necessary
bylaws for the government of said bus
mess, may provide for the election of all
necessary officers, prescribe the duties,
salaries, and teluresi of all officers
Said corporation may sue and be sued,
prosecute and be prosecuted to judg-
ment and satisfaction before any court,
may nave a corporate seal, may con-
tract and be contracted with within the
limit Of its corporate powers, may own
real estate and personal property, not
exceeding Two Hundred and Fifty
Thousand Dollars. may sell and convey
real estate, may sell their personal pro.
perty or any part thereof, may borrow
money and secure the same by mort
gage or otherwise not inconsistent with
law, may buy bonds not inco .sistent
with the terms of this charter and the
provisions of law, may issue bonds end
secure them, may hypothecate its fran
chlses and may invest its capital stock
in Mississippi State bonds, United States
bonds or other security or in real estate,
and may dc any and all other acts an
thorized by the provisions of chapter %
of the Annotated Code of Mississippi,
approved and adopted on the I'd day of
April, 1899.
Section vi. The individual liability
OF the stockholders of said corporation
shall not exceed the amount of the un-
paid capital stock subscribed by them,
and shall not exceed the liability now
liked by said chapter 25 of the Annotated
Code,of Mississippi, the provisions of
which, as far as applicable, shall extend
to and apply to this corporation.
Section VII, SAID corporation may, at
its pleasure, invest its earnings or any
bart thereof in real estate in the State Of
Mississippi, in personal property, notes,
bonds, mortgages, Mississippi State
bonds, United State bonds or other Sc.
curities, The capital stock of said cor
poration shall be kept intact for the pro-
tec;ion of creditors, until all the debts
which might be legally contracted by
said corporation shall be paid up. No
debt shall be contracted beyond the
amount OF the capital stock, nor shall
any director, officer or stockholdar be
hound for any debt in excess of the mn.
paid stock subs cribed fol unless such
debt be contracted by said director, of.
hcer, or stakeholder, or with his knowl-
etge, consent and approval.
We hereby subscribe to the foregoing
charter of incorporation and afix Il
signatures hereto, this the 4th day of
January 1898. l.. L. ANDERSON.
w. M. BAKER.