The commonwealth. (Greenwood, Miss.) 1896-1923, 1906-01-05
CHARTER OF
Incorporation of The Green
wood Machine and Sup
ply Company.

} l. hIAhtNt IL '. dptiH
On, b. l.. Jones, Gid Montjoy, Lr. J. X
Mann, T. X. Henderson, 4. X. MeShane
{. f.. Wright. and their associates, sue
cessors and assigns are hereby create,
a body corporate under the name am
style of the Greenwood Machine an,
Supply Company and shall have success
sion for fifty years. The domicile o
said corporation shall be Greenwood
Mississippi.
Section 2. Said Company is hereb,
authorized and empowered to hold, t
purchase, to receive, to sell and to enio,
real and personal property necessary foI
the transaction of a general machin,
shop business and for the purpose o
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 al
kinds and descriptions.
Section 3. Said Company is hereby
authorized and empowered to hold rea
estate in fee simple, to sell, rent, lease
exchange, mortgage or cucumber reaI
estate in any way its Board Of Directors
may elect to do.
Said Company shall have the right tC
sue and be sued, contract and contract,
ed with, to plead and be implicated, tc
adopt a common seal ard to change OIL
renew the same at it's pleasure.
Section A. Said Company shall have
possess and enjoy all the rights, powers
and privileges conferred by Chapter q
Of the 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 S25,000.00, 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 o o as said amount has beer
subscribed and paid in a meeting of the
subscribers may be called by a notice il
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 than 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 8. The said Directors may
elect, from their number, a President,
Nice-President, Secretary and Treasur,
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 n 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
dinate officers, shall hold their Offices
for one 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 tt
fill said vacancy or vacancies, and SAID
officers so elected shall hold office unit
the next annual meeting OF said stock
| lnJlTH, rrJ rntSl thasn u,aan,,nna -
elected and are qualified.
Section 7. Said Company is hereby
authorized and empowered to make any
and all needful bylaws and regulations
for the control and regulation and man
agement of its said business by and
through its Board of Directors, and said
Board may, from time to time, amend
revoke 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 W
or of said stock.
Section s. The annual meeting OF the
stockholders shall be held on the sec
ond Monday of January Of each yeai
and the Board Of Directors and officers
shall be elected at said meeting, but
the Board Of Directors may change the
time Of said meeting to such time as the
Board may appoint. In all elections the
stockholders shall be entitled to vote ii
person or by written proxy and shall
have the right to have n vote for each
share Of stock owned or represented by
them. No one shall be allowed to hold
a proxy for any stakeholder unless sucl
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
stockholders may place the business o.
the Company in liquidation, close up tht
business by sale Of its property and the
payment Of it's debts, il any, and divide
the residue Of the proceeds of the sale
of all property among the respective
stockholders in proportion to the amount
Of stock held by each.
This charter shall take effect and bt
in force from and after tho date Of III
grant and approval by the Governor o
the State and its acceptance by the in
coru0ratops and their associates,