The Tupelo journal., 1905-06-23
The Charter Of Incorporation Of
The Clark Grocery Company.

Inc IldFleT q lncOTpOrallOE o.
The Clark Grocery Company.
Section l. BIT. Clark, John Clark, j.
w. Hoyle, John M. Clark P.S. Weaver,J
D. Green, and W.D. Anderson, and their
associates and successors, are hereby
created q body corporate, under the
name Of Clark Grocery Company, and
shall have succession for Fifty (5O)yrs;
its domicile to be in the City of Tupelo,
Lee County Mississippi; and it's capital
stock shall be Fifty Thousand ($5O00O. OO)
Dollars, divided into One Hundred
Shares Of Five Hundred ($500. 0O) Dol
lars, each; provided said corporation
shall be authorized to begin business
when Twenty Five Thousand ($25OO0. COY
Dollars of its stock shall have been
subscribed and actually paid in.
Section II. The purpose Of the said
corporation is, and it is hereby author
lied and empowered to do, a wholesale
grocery business; a cotton brokerage
and commission business; a cotton
warehouse business; and advance mon
ey, and in order to properly and success
fully exercise such powers, it is author
lied to wi the necessary real estate,
buildings, warehouses, ETC.; and own
and hold my other real estate which
may necessarily be acquired in the
conduct of said business, and take any
security it may deem proper, including
notes, mortgages, deeds of trust and
deeds, on and to both real and person
al property for any debts which may
become due it,
Section III. Said corporation shall
have the right to sue and be sued, and
contract and be contracted with, plead
and be implicated; and adopt a com
mon seal, and change and renew the
same at pleasure; and in addition to
the powers herein conferred on it, said
corporation shall have any and all other
powers which may be granted it by
Chapter Is Of the Code Of 1892 and the
acts of the legislature amendatory
thereto; and all power which may be
conferred on it by it's Directory. con-
~sistent with law and the provisions of
Of this charter.
Section w. Said corporation shall
be governed by a Board of Directors
of not less than three nor more than
five Ito be determined by the stock
holders), who shall be stockholders;
who shall be elected annually by the
the stockholders, at a meeting held on
the second Tuesday in January of each
year, except the first Board of
Directors, who shall be elected at such
time as the stockholders may deter
mine; and in all business transacted by
the stockholders, each share of the
stock shall be counted as one vote; and
a majority of the stock shall control.
The officers of said corporation shall
consist of a general manager, and sec
rotary and treasure; and one person, if
the directory shall so determine, may
hold both of the latter Offices; which
officers shall be elected by the Board of
Directors, at such time, and for s UGH
term, and at such compensation as the
Board of Directors shall fix, and the
general manager shall have power to
employ such additional help as may
be necessary to carry on the business
of the corporation, who may not be a
stockholder; but all officers of said
corporation shall be stockholders.
There shall be at least two meetings
of the Board of Directors annually, on
the first Tuesdays in January and July
either on the call of the general mana
ger, or a majority Of the Board; and as
much oftener as may be necessary.
Section v. Each stakeholder shall
be liable to the creditors of said cor
poration for twice the par value of
their stock.
Section vi. The stockholders shall
have the right to make the necessary
by laws to govern their meetings; and
the same power is given the Board of
Directors as to its meetings and the
business of said corporation
Section VII. Ameeting of the stock
holders for the purpose of organizing
under this charter may be held on the
call of John and B. T. Clark, giving
5 days notice to the time and place of
meeting.