The Tupelo journal., 1911-12-01
The Charter Of Incorporation Of
The Colored American De-
yelopeu1ent Association.

L. The corporate title of said Company is The
sColored Ameri, an Developement Assoc iation:
2. The names eff the incorporators are: Rev.
A. R. Abbott, B. j. Simmons and Henry Afford.
whose postoffice address is Turelo, Miss, An
thony Bu nett, Louis Ward, Ed McAllister whose
post fiji e address is Gibson, Miss; w. 3. jackson
whose postoffice address is Okolona, Mss end
Sam Mckinney whose postcfice address is Alb
-erdeen, Miss.
8. The domicile is at Tupelo, Mss.
4. There is to be no CAPITAL stock.
5. The shares are to have no par value. as
there is to be none.
z, The purpose for which this company is Gre
ated, is: Not for pecuniary gain. but for benev.
% ant purposes alone. There is to be no capital
$ oc : ard no It ekholSers. The ar OF the incor-
} o alton i, to foi m a Company for the encourage
ing thrift and habits of saving Among the colcrcd
youth of the country. and to that end, to accumr-
late from small monthly payments, to be made by
them, afund for them, sufficient when they shall
have reached the age of maturity and discretion.
to enable them to start life with some means.
The plan by which the incorporators will attempt
to accomplish this is as follows:
All coiored persons between the ages of five
and twenty-five years, either on their own appli-
cation, or that of their parents or guardians, are
to be entitled to membership, and receive endow-
ment certificate on the payment by them. or their
guardians or parents, into the treasury OF the
company, of a membership fee of $1,000 and
agreeing to pay into the treasury $1.00 monthly
thereafter, until the holder of such endowment
certificate shall attain the age of twenty-five
years. The sum SO accumulated, with its increase,
less It's pro rata snare OF the expenses OF con-
Quoting the a fairs of the company, shall be pay
able to the holder of the certificate, when ne or
she shall attain the age of twenty-five years.
Such certificate is to be non-forfeit-
able, and whatever amount may be paid in by the
holder thereof, whether for one year or for IT,
whole term, with its share of the earnings, less
the expense of conducting the business of the
company, to be paid to the holder of the certif-
cate when he attains the age of twenty-five
years, or to those entitled thereto. if in the mean
time the holder has died.
There is to be q Board Of Di ecfo 3 Of stve .
elected for one year by the holders VI the endow-
ment certificates, who are to vote either in per-
son. or BY proxy through their parents or guar
dams. in case they are minors: such Board to
elect the officers of the company to be known
as Supreme President, Grand Vice-President
Treasurer, Secretary and Corresponding Secre-
tary who shall hold Office for the term OF one
year. The Board Of Directors are to have the
power to invest the funds accumulated from the
holders Of certificates in stock, bonds,
real estate, personal property. chooses in action. or
loan the same at interest. on sufficient security.
Such Board Of Directors are to have the power to
make the necessary bylaws and rules and regu-
lations. to carry out the purposes of the Company
and shall have such other powers as are confer
red by Chapter "a. Code of 1905. and amendments
thereto.
Al. r. Abbott. Henry Afford.
b. Simmons w. B. Jackson.
Sam Mckinney Ed McAllister.
A. B. Burnett T.. w. Word.
State Of Mississippi.
Lee County.
Personally appeared before the undersigned