The progress., 1904-03-26
CHARTER OF INCORPORATION
OF
VAN CLEAVE BROS. MERCANTILE CO.

Be it known by this Charter of Incor.
poratlon that w. $. Van Cleave, j. p.
Van Cleave, b. f. Parkinson and Robert
Parkinson, together with such others
as may hereafter associate themselves
cessors, are hereby created II body cor
porate under the name and style Van
Cleave Bros. Mercantile Company; its
domicile shall be in the town Of Ocean
Springs, county of jackson, State OF
Mississippi. and as such shall have and
enjoy succession and exercise the pow
er for period OF Fifty Years, incident
to aud granted to corporations under
aud by virtue of Chapter Twenty-Five
of the Annotated Code of the General
Statute Laws OF the State of Mississippi
of 1892 and all acts amendatory thereto.
SECTION 2. The purposes for which
tins Corporation is created are hereby
declared TO be, to purchase and sell
goods and general merchandise, to own,
sell or lease real estate and to erect Such h
buildings as may be necessary to ac-
cummodatc a general mercantile bust
ness. And this corporation shall have
aud enjoy and exercise all power nec-
ceSsary for The proper management and
persuit of the aims and objects for
which it is organized.
SECTION 3. The Capital Stock of this
corporation is hereby fixed at the sum
of Fifteen Thousand Dollars, divided
into One Hundred and Fifty Shares of
One Ii hundred Dollars each, to be paid
for in cash at time of subscription. or
same may be issued in payment for
property actually received.
SECTION 4. This corporation is author
ized To begin operations and commence
business when Ten Thousand Dollars of
the capital stock has been subscribed
aud paid in cash or property.
SECTION 5. The officers of said cor
poration shall consist of President, o
Vice President. a Secretary aud a Treas.
urer.
SECTION 6. The affairs of this corpor-
alton shall be managed by Board of
not less than three or more than five
Directors to be elected annually from
the Stockholders by majority of the
Stock participating IN such election, at
"A meeting to be called for the purpose
on the first Saturday IN March of each
year, aud each share of stock shall be
entitled TO one vote cast by its owner
in person or by proxy. The Secretary
shall notify each stockholdeFin writing
ut least five days prior to such meeting.
The first meeting for election Of Di-
rectors shall be held the first Saturday
in March. 1908. And until said 6rst
e,ection the following persons are de-
clared TO be Directors: w. s. Van
Cleave, J. P. Van Cleave, B. F. Parkin-
son and Robert Parkinson, with said
w. =. Van Cleave as President; B. F.
Vice President; J. P. Van
Cleavr, Secretary, and Robert Parkin.
son Treasurer. The President. or in
absence or inability to act. the Vice
President, fhall be the executive officer
upon whom citation and all legal pro-
cess shall be served.
The said Directors shall. imm ediately
after their election each year, meet and
elect a President, Wee President.
Secretary aud Treasurer, and shall
have power 10 make, alter o. amend all
bylaws. rules aud regulations they may
deem requisite for the management OF
tn business affairs of said corporation.
SECTION Z. This act ot Incorporation
NAV be changed or modified. or this
corppratlOiI may Dc uiSsoiNeu WIFI the
assent OF two thirds of the capital stock
at a meeting called for
hat purpose after fifteen days notice
in writing issued b, the Secretary TO
Zach siockhulder.
SECTION 8. Anv Stakeholder -desir-
ng 10 drspuse of his stock shall first Of
er same To the Board of Directors who
hall have the right To purchase same
II lis book value.
SECTION g. No Stakeholder shall be |
liable for the contracts or faults of said |
in any further sum Than |
he unpaid balance due on ihr shares |
Il stock he may own. nor shall any |
mere informality ia organization have |
he effect Of rendering This Charter
ull or exposing anv nckholilrr Ia any
ability beyond the amount of his
lock.
w \ VAN CLEANE
b. L. PARKINSON.
J. p. VAN Cl.EANE
ROBT. PARKINSON
cean Strings, Mss. March lst 1904.