The new enterprise. (Madison, Fla.) 1901-1908, 1905-12-21
ARTICLES OF INCORPORATION OF
SMITH MERCANTILE COMPANY,

For the purpose of organizing body corporate
under the laws of the state OF Florida for the pur
/, poses herein stated, the Undersigned subscribers
for the stock OF the corporation hereinafter named
do enter into the following articles ofncorporatIon
! ARTICLE 1.-The name of this corporation
; shall he the SMITH NERO MILE COMPANY
and it, principal place of business shall be carried
/ on At Madison, Madison county. Florida.
| ARTlC,. e I.-rhe general nature Of the bust d.
ness 10 he transacted by this corporation shall he
that of dealer in re erai supplies and m,rchand
the buyrZ, inJr;g aging, selling AM otherwise dis
posing Of. AT wholesale ret all, its account
ur for Others for cash credit, of goods wares
supplies or merchandise, especial dry goods,
tions, shoes, hats gents furnishings, millinery,
hardware, qucensware groceries, furniture, har.
ness, all kinds of farming implements and utensils.
horses mules. cattle. hogs and all other kinds of
live stock, wagons, bugges. vehicles of every de-
scripton. fertilizers of all kinds and chemicals for
compOunding the same, furs, hid S, feed, h1
grain. cotton, poultry, eggs and farm products Of
whatsoever descripuon; 10 purchase, hold, sell,
improve, mortgage and dispose of other personal
property of every description and kind; to acquire,
hold, lease, improve, mortg ge, rent sell or other
wise dispose OF real estate on its own account
for others, for cash or IN credit to lend money,
urchase, hold, sell or otherwise d spose of negot
able instruments, 10 take mortgages on personal
real property, or both, and all other kinds of
rity incident to business of this nature, and TO
engage in all business enterprises of whatsoeve r
character incident to or connected with the forego
Ing objects, when necessary from time to time, in
order to carry out the intent and purpose of tins
corporation.
ARTICLE III,-The capital stock of this corpo.
ration shall be Fifteen Thousand Dollars, to be di
vided into shares of One Hundred Dollars each,
payable in lawful money of the United States or in
lieu OF such payment in money. the same or any
part thereof may be paid In property labor or SER
vices, at just valuation to be fixed by the Board
OF Directors at meeting to he called for that pur
pose. All of the capital stock to be paid in full
before this corporation shall be authorized TO do
business: The capital stock may be increased from
time to time to a sum not exceeding One II indr d
Thousand dollars, according to the provisions of
Inv.
ARTICLE IV.-The term for which this corpo.
ration is to exist shall be ninety-nine years.
ARTICLE V.-The business + this corporation
shall be Conducted and managed BY a Board of
Directors to consist of three stockholders each of
whom must own in his own right at least one share
o. ine fppi!a stock OF this corporation President
Secretary and such other officers and clerks as NAV
be s'ary to transact its business. The Board
of Directors shall be elected anrua " By the
stockholders at meeting to be heu at the place of
business of this corporation the second Tuesday
OF January of each and year. but IL no election
day according to the provisions Of law, and ali cleo
tons shall be held IN the prescribed in the
bylaws.
QThe Board Of Directors, a majority of whom
shall be quorum to do business, shall elect one of
It's members President of this corporation, who
shall hold his ofhce unless he shall Be disqualified
or be sooner removed by two thirds vote of all
the members of the Board, for r. term for which
he was elected The Board of Directors shall ais
elect Vice President and Treasurer, who shall be
authorized in the Alb ence or inability of the Pres.
dent from any cause, to perform all acts and duties
pertaining TO the office of President except such as
the President only Is authorized by law to perform
and to elect or appoint Secretary, and such other
officers and clerks as may be required to transact
the business of this corporation; to fix the salaries
70 be paid them, TO continue them In Office or TO
dismiss them as, In the opinion Of majority Of the
board, the interests OF this corporation may
demand.
The Board of Directors sha n have noyer 70 IA
fine the duties Of the officers and clerks of this cor
poration, to regulate the IN which elections
OF directors shall be held TO make all bylaws for
the general regulation OF the business of this cor
poration and the management of its affairs, and
generally to do and perform all acts that il NAV be
legal for board of directors to do and perform
under the laws of the State Of Florida.
Until the first election of officers as above proyi.
ded for shall take place and uat their successors
shall be qualified, the business Of this corpora ton
shall be conducted by the following named officers |
u Sharon, President; 5. Alex Smith, Vice Pres
ioent and Treasurer and Walter Bunting, Secreta.
ry. and J. 6. Sharon, S. Alex Smith and Walter
bunung shall constitute the Board of Directors
ARTICLE VI.-The highest amount of in
oeotedness o. liability to which this corporation
can AZ any time subject itself shall be the amount
Oh ror'y-hve Thousand dollars.
ARTICLE VII The names and places Of resi-.
dence OF the subscribers hereto and the aro,,n, -
STOCK subscribed by each of them, are as follows:
}, O. Sharon Quincy, Florica. Seventy four
shares.