The Tupelo journal. (Tupelo, Miss.) 1876-1924, 1905-06-23
NUMBER = l2
THE CHARTER OF INCORPORATION
OF THE VERONA BRICK AND Tile
MANUFACTURING COMPANY

The Verona Brick and Tile Manufac-
turing Company. located near the
town of Verona, in the County of Lee
and the State of Mississippi, is hereby
Incorporated, with the following rights,
powers and privileges:
Section THAT T. M. Clark, F. A.
Green, ]. A. Orr, w. H. Sharp, d
H, Clark, w. r. Rea, w. S. johnson,
and all others who may be legally as
sociated with them, by their joint con-
sent, according to the provisions of
this charter and the by laws, duly in
acted, and their successors, are hereby
created body rolitic and corporate,
under the name and style of THE We
ROMA BRICK AND TILE MANU-
FEATURING COMPANY, to be loca-
ted near the town of Verona, in the
County of Lee and the State of Miss
issippi, and by that name shall have
succession for period of fifty years;
may sue and be sued, plead and be implea-
dedin all the courts of law and equity
in this State and elsewhere; may have
a common seal and the same use or not
use or alter at their pleasure; and may
make, alter or repeal bylaws at pleasure:
necessary for the efficient management
and control of said Company, not con-
trary to the provisions of this Charter
or the Laws of the land; may contract
and be contracted and be contracted
with, within the limits of the corporate
powers herein conferred; and may bor-
row money for corporate purposes and
secure the same by mortgage or other
wise.
Section 2-Th9 capital stock of said
Company shall be $4,000, divided into
shares of $10O each and said company
is authorized to begin business, before
all of said capital stock shall have been
paid in, if said Company deem it neces-
Sary.
Section 3-Said Company is hereby
authorizedto invest its capital, in such
machinery, buildings, lands and other
property, real or personal, as shall be
necessary to.properly carry on the bus
or either and do and perform all other
acts, necessary for efficient operation of
said plant; and may sell said property
or any part thereof and reinvest in other
property or may exchange same for 9TH
er property.
Section 1.-The government of said
company shallbe confided to and admin
stered by Board of directors mont
less than five or more than seven until
altered by the Bylaws; Said Board Of
Directors shall be stockholders in said
company, which said board of Directors
shall be elected by the stockholders of
said company att S office in the town
of Verona.
Section 5-The first meeting of the
stockholders for organization and elect
ion of Directors shall be at such time
and place as said stockholders shall de
sire, in the said town of Verona, on FIVE
days written notice to all said stockhol-
-ders by T M. Clark and F. A. Green.
Section 6-The officers of said com
pany shall be a President, Vice President
and Sec. (who shall also be Treas.
and Genl Mgr.); all of which shall be
members of the board of Directors: and
said officers shall possess and exercise
the powers and duties usually exercised
by such officers of private corporations
which may be necessary and proper
for them to do, and the Board of Di-
rectors, who shall be elected by the
stockholders of said company at it's
first meeting, shall Immediately meet
and elect the officers above provided
for; and the Board of Directors shall
have and exercise all such power and
authority as usually appertains to Board
of Directors and are needful for the
successful management of the affairs
of said company and not inconsistent
with this charter or the lows of the
land andm may if they see fit require any
or all of the officers of the said COM
pany to give bond in sue h
sum as they may deem proper for the
faithful performance of their duties
and prescribe their compensation at
such amount payable at such time and
place as may be just and right.
Section Each stockholder shall be
entitled to one vote for every S100. of
stock held by him, on all questions
on which stockholders have right to
vote; which said stock may be voted
in person or by proxy; and the majority
in interest of said stockholder shall con
troll in all proceedings and elections had
or held by them.
Section s Dividends of the net ear
nings of said company may be declared
from time to time at the discretion of
| the majority in interest of the stock
holders, and the stock h hol d e IS
of said company shall be liable
individually for the debts of said Com
pany only for such and amount of their
subscriptions as is not paid and no more
Section 9-All indebtedness by or to
the said Company, shall be so made
that it shall be payable in legal tender
money of the United States of America.