The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1901-08-03

l
be, and to drill, sink wells, and to do al
other things necessary for prospectin!
such lands and deriving the oil, petroleum
salt and other minerals therefrom and gen
orally to carry on an oil and mineral pros
pccting business and eventually to estab
and equipments, pipe lines, tanks, etc, az
may be deemed necessary. in the prospect
| ing, drilling, mining extracting, retinin.
| and selling and otherwise dealing in
oil. petroleum. salt and all other minerals
| to do all things in any manner pertinent
thereto.
ARTICLEIv.
| The capital stock of this corporation is
| hereby fixed ut Five Hundred Thousand
Dollars which is divided into five hundred
thousand shares of the par value of One
| Dollar (Sl) per share, which shall be issued
| ut such times and in such manner and sub
| scribed for and paid for as the Board of
Directors may designate, but no stock shall
| be sold for less than its par value either in
| cash or its equivalent, after Two Hundred
and Sixty Thousand shares shall have
been disposed Of.
And it is further provided for the pro-
lection of al. cash investors, that the stock
for which cash is paid, shall be stamped
Cash Stock" and this stock shall be sat.
i>tied by preference over other stock IN the
event of liquidation. And this cash stock
shall also be entitled to preferential dvi-
dcnd OF twelve (l2) per cent and after the
payment thereof, the cash stock shall share
in the residuary dividend with stock is
sued for lands, options, and other eIuiva-
Tents of cash.
Said stock shall be represented by GER
tifcatcs signed by the President and colIn-
tersigned by the Secretary hereof, and
bearing the impress of the corporate seal,
and no transfer of stock shall be valid un.
less made upon the books of this corpora
ton on surrender of the stock, either bv or
under the direction of the Secretary hereof.
Nor shall any such transfer be made as
long as the holder of stock desiring it's
transfer may be i'll arrears or indebted to
this corporation.
This corporation shall become operative
and so into effect as soon as Fifty Thous-
and shares shall have been subscribed and
this number having been fully subscribed,
the SAID corporation shall 80 into effect
Immediately upon prOmu CATION of its
charter.
ARTICLE V.
The corporate power of this corporation
shall be and they are hereby vested in a
Board of Directors to re comDosed of
-eveu< O. shareholders and the President
to be elected by ballot on the first Monday
IL May, 1902, and on the corresponding day
of each year hereaf ter lat general meeting
of the stockholders, if said day shall here
after fall on legal holiday, the said meet
ing shall be held on the next legal day
following, SO i'd shareholders shall be mott.
fled by publication in a weekly paper |
IN Franklin, la, for thirty days |
preceding such election. At such election |
a majority of votes actually east shall |
elect, and each stakeholder shall be enti- |
tied to cast, either personally or by proxy,
one vote for each share owned by him, but |
no stock shall be transferable within ten
(l0) days preceding an election. In case
Of the failure to elect Directors, for any
cause whatsoever, the corporation shall
not thereby become dissolve. but the Di-
rectorS and officers shall continue in office
until she next general annual election. or
until their successors are elected, qualified
md lnducted into office.
ARTICLE VI.
The officers Of this corporation, to be
elected by the Board of Directors, shall
consist OF President, who shall be EX-
)tiicio Chairman Of the Board of Directors,
| Vice-Presideni, Secretary and Treas
lrer, and such superintendent, GvGrscers,
managers, clerks. and other EMPLOYEES as
hey may deem advisable. And SAID Board
# Directors shall also have power to fill
ny vacancies occurring in their number,
or any cause whatsoever, and also to
make, adopt, amend. alter or abolish such
ules, regulations and laws as they may
|
Or the proper management of this corpo-
alton, and also to define the duties and
and responsible Of each and
very officer, manager, superintendent,
L other employees, to fix their bonds and !
accept or reject the same, TO Tx the :
ates OF salaries and wages. to purchase /
ecesSary machinery. tanks, piping, etc,
, fix freight rates, prices Of the products I
the operations of the company, to APP
ONT or designate the officer or agent who | 4,
hall execute mortgages, or procure leases, !
ptlons. servitudes, purchase the rights of \
orlng and prospecting for oil and miner n
IS, to make sales. deeds, pledges and other /
50 have general power to do and perform n
~ and I'll ACTS which they my deem
roper IN the administration and manage:
ent of the affairs Of this corporation, the
me Is II eacn act were specially dele
tied: and they Shall be permitted so to
} either directly or through such officers
III agents as they may select either for
J members of the Board of Directors
ali constitute quorum for the transac-
IN of business, but stockholders who are
sent or unable to attend NAV vote by
oNy in writing, given either to a member
the Board or any other stakeholder.
ARTICLE VII.
Until the next general election to be
ia uhutI WIS CHARTER, l. e., until the hrSt
onday in May, 1902, the Board of Direc-
IS shall be composed of DOnelson CAT
v, Joseph A. LOret, Alfred A. Fuselier,
.. Mathew Bell, A. NJ. Underwood, f
III am Dreibholz and j. +. Britain. Ar.
IT a. Ronvillain shall be President of
$ corporation: Hon. Albert c. Allen
Ill be Vice Presidents; Francois r. Per-
shall be Secretary: Iathew Bell shall w
Treasurer, and j. Gabriel Martel, As. '"
tant Secretary and the said constituted
ard and the said officers shall serve UNI
their respective successors NAV be
cted and qualified
ARTICLE VIII
he Board Of Directors as hereinaboye
lstltuted or rs may be hereinafter con-
uted or composed, shall have power to in
row money and to secure the payment Lo
! reimbursement thereof by mortgages an
edges, and IN any manner to encum- r.,
the property OF this corporation either tn,
-ent Or future, movable or immOyable. of
poreal or incorporeal and especially to are
u9e or otherWise dispose of or encllm- the
the franchise and privileges OF this
lpany, such loans may be evidenced by
IDS OF this corporation to bear interest
rate not to exceed eight per cent, and ,
to exceed in amount Two Hundred a..
'usand Dollars and to be issued in such as as
nbers and in such denominations as the - Cn
rd may deem proper and to run for a ~ ~.
lou not to exceed forty years. 1ac
ARTICLE TX. ~
heneyer this CORPORATION il dissnlvol ~