The commonwealth. (Greenwood, Miss.) 1896-1923, 1905-12-22
CHARTER OF
incorporation of The Green
wood Machine and Sup
ply Company.

Section /. W. L. Kinney, r. V. John
son, b. L.. Jones, Gid Montjoy, Jr.. ]. ".
Mann, r. r. Henderson, 4. X. McShane.
c. Il. Wright, and their associates, sue
cessOrs and assigns are hereby created
A body corporate under the name and
style Of the Greenwood Machine and
Supply Company and shall have success
sion for fifty years. The domicile Of
said corporation shall be Greenwood,
Mississippi.
Section 2. Said Company is hereby
authorized and empowered TO hold, 10
purchase, to receive, TO sell and to enjoy
real and personal property necessary for
the transaction Of a general machine
shop business and for the purpose of
manufacturing, repairing and installing
all kinds Of machinery, electric light
fixtures Of all kinds and descriptions
and for the purpose OF doing a genera
plumbing business also to manufacture,
repair, buy and sell mill supplies of all
kinds and descriptions.
Section 3. Said Company is hereby
authorized and empowered to hold real
estate in fee simple, to sell, rent, lease.
exchange, mortgage or encumber real
estate in any way its Board Of Directors
may elect to do.
Said Company shall have the right to
sue and be sued, contract and contract
ed WITH, to plead and be impleaded, to
adopt a common seal ard to change or
renew the same at it's pleasure.
Section 4. Said Company shall have,
| nOgEnGa md antny oil a. uslAz -.-
and privileges conferred by Chapter %
OF h Code OF 1892 and the amendments
therto so far as practicable to carry out
the purposes of this charter.
Section 5. The capital stock of said
Company shall be s25,000.0 90, divided in
to shares of $4,000 each. and said cor
poration may begin business whenever
as much as Five Thousand Dollars of
said capital stock has been subscribed
and paid in, in either money or proper
ty; and as sOon as said amount has been
subscribed and paid in a meeting of the
subscribers may be called by a notice in
writing to each subscriber of not less
than five days, and said meeting, when
organized, may proceed to elect its Off
GERS. The management Of said Company
shall be placed in the hands Of a Board
OF Directors OF not less than three nor
more thar five members, all and each of
whom shall be stockholders of said Com
pany. Said Directors shall be elected
annually, by the stockholders of said
Company, and the majority of the said Di-
rectors so elected shall constitute a quo
rum for the transaction of business. The
number OF Directors may be increased
or decreased by a majority vote of the
stockholders.
Section 6. The said Directors NAV
elect, from their number, a President.
Vlce-President, Secretary and T~reasur-
er, and may also elect a General Man
ager OF said business and such other
officers as they may deem necessary.
The office OF Secretary and Treasurer
may be filled by one person. The sal
aries of all officers, except the subor.
dinate officers, whose positions are not
named above shall be fixed by the Board
OF Directors, but the compensation of
such subordinate officers and employees
shall be fixed by the General Manager.
Said officers, other than such subor-
dlnate officers, shall hold their Offices
for N year and until their successors
are elected and qualified. The Direct
ors OF said Company are hereby empow-
cred to fill vacancies In their number
which are caused by death, resignation
or otherwise, by the election, by them.
OF any stakeholder or stockholders to
ill said vacancy or vacancies, and said
officers so elected shall hold office until
the next annual meeting of said stock
holders and until their successors are
elected and are qualified.
Section 7. Said Company is hereby
authorized and empowered to make anv
and all needful bylaws and regulations
for the control and regulation and man.
agement of its said business by and
through It's Board of Directors, and said,
Board may, from time to time, amend,
or change the same at it's pleas
ure. said Company may apply the div
idends due on said stock to the payment
of any Indebtedness due it by the own
or OF said stock,
Sections =. The annual meeting of the
stockholders shall be held on the sec
ond Monday Of January of each wear
and the Board of Directors and officers
shall be elected at said meeting. Int
the Board OF Directors may change the
time OF said meeting to such time as the
Board may appoint. In all elections the
shall be entitled to vote in
person or by written proxy and shall
nave the right to have one vote for each
share OF stock owned or represented by
them. No n shall be allowed to hold
a proxy for any stakeholder unless such
person is himself a stakeholder of said
Company.
Section 8. At any regular or special
meeting of the stockholders, by a vote
Of ~two-thirds Of the stock in amount, the !
may place the business of
Company in liquidation, close up the >
business by sale of its property and the
payment Of its debts, If any, and divide :
residue of the proceeds of the sale T
all property among the respective {
stockholders in proportion to the amount I
If stock held by each. +
This charter shall take effect and be {
n force from and after the date of its 1
grant and approval by the Governor of /
he State and its aaanntopoa la, thn l.. +