The leader. [volume] (Brookhaven, Miss.) 1895-1905, 1904-05-18
THE CHARTER
OF incorporation Of Busby, Lee &
Company.

Sec 1. Be 1t known that ". v. Busby, j. w
Lee, and Z. L. MeGehee, j. s. Abortion and
a body polite and corporated under the name
and style of BuSby, Lee & Co. with succession
for period of fifty years.
Sec. Q That the domicile of said Corporation
shall be In the town of Bogue Chitto, Lincoln
County, State OF Mississippi.
Sec. g. That the Capital stock OF said Corpo
ration shall be t$l50O0l Fifteen thousand dollars
and that said corporation may commence bust
ness when one-thlrd or thiity-three and one
third per cent Is paid in. Said corporation shall
have the right and power to increase or dimin
any amount not to exceed twenty thousand dol
lars $50, 000.O0l.
Sec. 4 That said corporation may sue and be
sued, plead and be implicated, prosecute and be
prosecuted to Judgment and satisfaction in all
courts OF law and equity, contract and be con.
tracted with, and may at its pleasure make and
adopt corporate seal and the same change Oh
Sec. 8. That the purpose for which said cor.
poratlOn Is created and organized is to run and
operate g general mercantile business In the
That In ope rating said business the said Cor.
porati0n shall have the right and power to rent
and lease, to OWN, buy and sell property of all
and mixed, provided it shall at no time own
property In excess of the sum of two hundred
and Fifty thousaned Dollars $3.50 O000O). That il
may may operate, own and use property OF an kind
That said corporation. shall have the right to
borrow and loan money and to secure payment
of same and to take security for payment Of
same by mortgage, deeds of trust, bond or
other property or form of security. That the
officers OF said corporation shall consist of one
president, one yice-president, and a secretary
and treasurer, the latter office may beaheld by
one and the same person, and board of difec.
tors consisting of as many of its members as the
stockholders may see fit.
Sec. 8. That said corporation shall not at any
time give security for any money In excess Of
the capital stock paid in until first authorized by
a majority of the stockholders so to do In a
meeting called for that purpose.
Sec. z. That the stockholders shall meet an
nually by a written notice given by the secretary
five days previous to said meeting and elect all
officers necessary to the proper conduct of said
as organized and Legally chartered may meet
and elect manager and the necessary officers
for this year.
right and power TO do and perform all things
necessary 10 the proper conduct and manage
ment Of q general mercantile business.
Sec. 81 That the powers of the officers of said
corporation shall be fxeti BIZ by-laws adopted
by the stockholders and said board OF directors
shall have the right and pow er t. make any and
and management Of the business Of said coFpo-
ration, not inconsistent with this charter or by
laws adopted BY the stockholders.
Sec, 70. That the capital stock of said corpo-
ration shall be divided into shares of one hun
dred dollars t$10O0Ol each and no stoekholder in
said corporation shall be bound or liable for any
amount beyond the amount unpaid for of any
holder shall be entitled to one vote for each
share of stock held BY Tim.
Sec. II. That this corporation shall enjoy all
the rights powers and privileges consistent with
its purposes as conferred by the chapter and
of 1852.
Sec. II. And no transfer of any stock shall be
valid unless such transfer appear on the books
Of the corporation.
Sec. IS. Ihat this charter shall take effect and