The Tupelo journal., 1904-10-07
The Charter OF Incorporation of the
TupeIo Mercantile Co


See. l BE it known that J. X Dabbs
l.. ii. Dabbs. ID. w. Robins, W.. x.
Wilson. w. l.. Joyner, t. +. Gordon,
G. B. Kirkpatrick, W. d. Brown, A. L.
Houston, d. w. Clark, H. B. Heard. j.
S. Thompson, W. s. Sparks, and their
associates and successors, are hereby
created a body corporate, under the
name of 1.-The Tupelo Mercantile Go.
and shall have succession for fifty
years.
The domicile of said corporation
shall be in the city OF Tupelo, Lee
| county Mississippi. Its capital stock
shall be fifty thousand dollars. divided
into five hundred shares OF the par
I value of one hundred dollars each,
provided. however, said Corporation
shall be authorized to begin business
| when twenty. five thousand dollars OF
said stock shall have been actually sub
scribed and paid in.
Sec. 2 The purpose OF said Corpora.
| ton il and it is hereby authorized and
empowered to do Il general Mercan-
tile and Advancing business, both
wholesale and retail and to establish,
conduct nd operate Branch Stores and
to lend money or real and personal
security or otherwise, to buy and sell
Mortgages, Deeds of Trusts, Notes
and Accounts.
SEC. B. Said Corporation is hereby
empowered to have and to hold, to
purchase and sell, receive and enjoy,
real and personal property, necessary
or proper in the conduct Or manage
ment of said businesses.
Sec. +. Said Corporation shall have
the right.tp sue and be sued. contract
and be contracted with, plead and be
impleaded and to adopt a common
seal and to change or renew said seal
at it's pleasure.
Sec. s. SAID Corporation is authoriz-
ed and empowered to buy and sell, to
thing which in the Judgment OF the
Board OF Directors of said Corpoation
NAV be necessary mot contrary to law
for the successful operation and man
agement of said business and in such
manner, as nav be determined by the
Board of Directors.
Sec. 6. The officers of said Corpora
ton shall consist OF a Board OF Direc-
tors of not less than three nor more
than seven members, which number
may be regulated by the Bylaws OF the
Corporation and a President, Vice Presi-
dent. Secretary, Treasurer and Man
ager-the office of Secretary and
Treasurer NAV be filled by one
person-oreither the President or Vice
President may also be Treasurer and
Manager.-at the discretion OF the
Board of Directors the Board of Direc
tors shall be elected by the Stockholders
and the President. Vice President Secy.
Treas. and Manager by the Directors
and all officers, including the Board OF
Directors shall hold Office for one year
and until their successors are elected
and qualify-Said election shall take
place at such date and place as may
be agreed p O at the Organization OF
said Corporation and said Dlrec Ors
are authorized and empowered to I'LL
such vacancies in their Numbers as may
be occasioned by death, resignation or
otherwise, by the elections by them OF
any stakeholder or stockholders.
Sec. 7. Any stakeholder who is i'll
debted to the Corporation shall not
be allowed to sell or transfer their
stock without the consent Of the Board
of Directors.-the said indebtedness shall
be a lien against said stOck-lnless re-
leased bv the Directors.
Sec. 8. All salaries of the officers OF
said Corporate shall be fixed by the
Board of Directors, except, the salaries
of the employees who are appointed by
the general Manager-which general
Manager shall have the right to fix the
wages ofall employees under his charge.
Sec. 8. The Corporation shall have
the right to make and adopt all neces-
sary Bylaws not in conflict with the
law of the State and Federal govern
ments.
Sec. 10. A meeting for the purpose
of organization under this Charter al
ter it's approval may bv held in Tupelo,
Miss, at any time upon the call OF two
or more incorporators by giving notice
two or more days before hand, by
notice PERSONAL or by mail, OF the
time and place of such meeting aid
Corporation, shall, in addition to all
the powers and privileges herein con-
ferred. have all the powers and privl-
leges conferred by Chap. % OF the
annotated Code of 1892 and the amend
u,cpfs thprptO