The Tupelo journal., 1905-01-13
Charter Of Incorporation Of F. P.
McElWrath Mercantile Co.

Sec. 1. Be it known thBt +. p. Neil
wrath, C. R. Porter, NJ, NJ. Miller,
Vaughn Bros, L. F. Temple, F. Y. TEN.
pie, c. 81, Lamb, and their associates
and successors are hereby created a body
corporate under the name ot IF. p. Nc.
ElWrath Mercantile Co" and shall have
succession for fifty years:
The domicile of said corporation shall
be in the town of Shannon, Lee Co.. Miss
It's capital stock shall be Twenty Five
Thousand Dollars, Divided into Two
Hundred and Fifty shares OF par value
OF One Hundred Dollars each, provided
however, said corporation shall be au.
thorized to begin business when Twenty
Thousand Dollars of said stock shall
have been actually subscribed and paid
in.
Sec. 2. The purpose OF said corpora
ton is and is hereby authorized and en-
powered to do a general Mercantile and
advancing business, both wholesale and
retail, ard to establish, conduct and op-
crate branch stores and to lend money
on real and personal security or other
wise. to buy and sell mortgages, deeds
OF trust, notes and accounts.
Sec. ). Said corporation ia hereby
empowered to have and to hold, to pur-
chase and to sell, receive and enjoy. real
and personal property, necessary Or
proper in the conduct or management Of
said business.
Sec. 4. Said corporation shall have
the right to sue and he sued, contract
and be contracted with, plead and he
empleaded. and to adopt common s.nl
and to change or enc said seal at it's
pleasure.
Sec. ). Said corporation is author
lied and empowered to buy and sell, to
do aud cause to be done any and every
thing which in the judgement Of the
Board OF Directors OF said corporation
may be necessary inot contrary to law
for the successful operation and man.
agement of said business and in such
manner as nay be determined by the
Board of Directors.
See. 6. The officers OF said corpora
ton shall consist of n board Of directors
OF not less than three members and as
many as the stock holders may decide to
elect. which number may be regulated
bv the bylaws Of the corporation. aud
a President, Vice. President, Secretary,
Treasurer and Manager. The office OF
Secretary and Treasurer may be filled
bv one person, or either President or
Vice President may also be Treasurer
and Manager, at the discretion OF the
Board oil Directors, The Board Of Di-
rectors shall b., elected by the stock
holders, and the President, Vice Presi-
dent, Secretary and M~anager'by the Di-
rectors and all officers including the
Board OF Directors shall hold Office for
one year, and until their successors are
elected and qualified. said election shall
take place at such date and place as
may be agreed upon at the organization
OF said corporation and said directors
are authorized and empowered to fill
such vacancies in their plumbers M may
be o%ccasioned by death, resignation, or
otherwise, by the election by them OF
any stock holder or stock holders.
See. Z. Any stock holder who is in
allowed to sell or transfer their stock
without the pms Mt OF the Board 1T Di
rectors the said indebtedness shall be a
len against said stock unless released bv
the Directors.
Sec. 3. All salaries Of the officers Of