The commonwealth., 1905-10-06
CHARTER OF INCORPORATION
OF
The SChlater Mercantile Company.

Article |. Be 1t remembered that r.
Thayer, Ed. Jones, Ben Bacon, their as
sociates, successors and assigns are
hereby constituted body corporate un-
der the name and style of The Schlater
Mercantile Company, with its domicle
at Schlater, Leflore county, Mississippi,
and under such name, said corporation
shall have succession for period OF
fifty years.
Article II. The purposes for which
said corporation is organized are to
conduct wholesale and retail mercan-
tile business, to buy and sell cotton,
cotton seed and cotton products, live
stock and other personal property; to
buy, own, cucumber and sell real estate,
to make advances on crops or otherwise
and secure same by deed of trust or
mortgage on personal OF real property;
to do general planting and ginning
business; to manufacture and deal in
lumber, spokes and other timber pro-
ducts; to buy and sell cotton and other
agricultural products for its customers,
charging reasonable commission for
the same, and to perform such other
duties as are generally performed by
commission merchants, and to exercise
and enjoy such other powers and priv
ileges incident to said businesses as
are conferred by Chapter % of the An
notated Code of 1892 and the amend
ments thereto.
Article III. All Of said enterprises
and businesses are to be conducted in
the said Schlater, Lelore county, Mis-
sissippi, and in such other place or
places in said state as the stockholders
of this corporation under their bylaws
may determine, and for this purpose said
corporation is hereby authorized to es-
tablish branch businesses at such place
or places in said state as said stock
holders by their bylaws may determine
Article lV. The capital stock of this
corporation shall be $25,000.00, divided
into shares of $4,000 each, and when
the sum Of $l2,0 100000 has been subscribed
the corporation may organize and begin
business at meeting of subscribers to
said capital stock to be held on written
call, signed by any two incorporators,
mailed or delivered to all of said sub
scribers five days before the date of
meeting, said call setting forth the pur-
poses of said meeting, and fixing the
date and place of same.
Article V. The powers of this cor
poration shall be exercised by Board
OF Directors, consisting of not less than
three nor more than seven members, to
be elected annually by the stockholders;
there shall also be president, vice
president, a secretary, treasurer and
general manager, all of whom may be
members of the Board of Directors; the
offices of secretary and treasurer and
general manager may be held by one and
the same person; all OF said officers are
to be elected as the bylaws may de-
termine, and their duties shall be fixed
by the bylaws; each Of said officers is
to hold office until his successor is
elected. The Board OF Directors shall
have power to employ such other officers
as may be deemed necessary for the ef-
ficient management of the business, or
they may delegate such power to such
officers of this corporation as the by
laws may determine.
Article VI. The stockholders Of this
corporation are empowered to make all
such bylaws as they may deem needfnl
in the management of the business, not
contrary to law nor the terms Of this
charter.