The Jennings daily record. [volume] (Jennings, La.) 1900-1903, 1901-12-23
CHARTER
OF THE JENNINGS OIL COMPANY
STATE OF LOUISIANA, !
PARISH OF CALCASIEU.

by form ana constitute themselves and
their successors as well as such other
persons as may hereafter become aSSo-
ciated with them and their successors,
into a corporation or body polite in
law for the objects and purposes, and
under the Stipulations, articles and
conditions, as follows: 49,
ARTICLEI
The name and title of the said cor
poration shall be JENNINGS OIL
COMPANY, and by the said name it
shall have and enjoy succession for
the period of ninety-nine years from
the da:e of this act. The Town Of Jen-
is the place chosen for its domicile,
and all citations against it may be
served on its president, or in his alb
sence or inability to act, on the vice
president.
ARTICLE II.
The purpose for which this corpora
tion is established, and the nature of
the business TO be carried on by it,
are any one, or mole, Or all, Of the
follow ng:
TO construct, work aud maintain
railroads. canals, plank roads. bridg-
les and ferries, whether within or With
out the limits OF this State: to carry
on Ilanufact OricS Of cotton, wooden,
| linen, silk and henlpen cloths and cor
Gage: to construct and carry on works
| to supply cities and towns with gas or
water: to Compress cotton: to con-
| ssruct and carry on iron, brass and
copper icundries: to construct and
| maintain dry docks or iioatin-r docks
| Tor the building or repairing OF ships
| and other veSSelS:tO manufacture iron,
] copper. lead or other metals, earthen-
ware or stoneware, engines, cotton
! gins, machinery, paper, gun powder
! and agi i:ulturai implements: to refine
sugar, and to navigate the sea by
steam: to esta blish. maintain and OPP
crate lines OF telegraph. and chemical
la boratorieS:t Ito construct and ma intaln
docks, steamships and other vehicles
for the transportation Of freight and
passengers: H. cCnStI uct. maintain
land operate works OF drainage, sewer
age and land reclamation. and to
open and work mines for developing
and obtaining natural gas. petroleum
coal. a spha ltun, salt sulphur, ore,
| metals, and mineral and volatile sub
stances of a II kinds: and this corpora
ton shall have power and authority
| 30 hold, receive. purchase and convey.
and to hire, lease let, property nGin
real and personal, in so far as the
same may lie Incidental to its objects
| ard purposes. This corporations is
further organized Tor the purpose OF
acquiring the assets OF the JfN-
| NINGS OIL COMPANY Of jennings,
| Calcasieu parish, Louisiana, at an
| agreed valuation thereon of Sixty
| THOUSAND DOLLARS $3.50, 100000. J
to be paid for in full paid up Capital
Stock of this COOPERATION, and the
present corporation assuming all the
liza bilites OF the said Company.
ARTICLE Ill.
The capital stock ofthis corporation
Il MOI
divided into Sixty Thousand Shares
OF par value of One Dollar each. Up
on a tranSfere of ali the assets of the
said JENNINGS OIL COMPANY to this
Corporation, the Sixty Thousand Dol
lars Capital Stock Of this Corporation
shall be issued to said Comany as
fall paid. and in addition thereto this
Corporation shall assume all the
liza bilities OF said Company. This
issue of said stock and assumption Of
said liza bility being taken and conGld-
cred a fair, equitable, and proper
equivalent Tor the assets of SAID Com
pany. All trans feGs of stock shall be
made on the books of the Company at
its office in Jennings Louisiana, and
of stock shall be signed by the Presi-
dent and countersigned by sthe secre-
tary.
ARTICLE ".
All the corporate powers of this cor
portion shall be vested in and exer-
| cised by IL Board of Directors com
posed of seven Stockholders to be
sci, cted by ma jority of the stock
holders on the third Tuesday of April
| OF each year, commencing with the
| year 1902. All such elections Shall be
| by ballot, under the supervision of
| three commissioner to be appointed
by the Board of Directors, who shall
receive all votes cassidy the stodkhold-
shell canvass and declare the result
| of such election. All such elections
shall be held after due notification
thereof, given during thirty days pre-
viously in a drinly or weeklp news
paper, published in the Parish of
| Calcasieu. The BoaId of Directors
herein named, as well as those sub
sequently elected shall continue in
! office until their successors are duly
elected in indicted For the transac-
ton of any ano all business a ma jor-
| ity of memcers of said Board shall
constitute "a quorum; the said Board
| shall have the right to establish all
! such bylaws, rules and regulations
which it may deem re ,uiSite for the
support, management and regulation
! of the Corporation; it shall be author
| lied to aopaint from time TO tine, such
officers, agents and employees as may
| be deemed necessary tor the proper
mana cement and carrying out OF the
| business of the Corporation. and shall
! likewise fix the compensation to be
| paid them, as we'll as to the other Off
GERS pravided tor by this Charter.
At the first meeting OF said Board, af-
ter each annual election, they shall