The Jennings daily record. [volume] (Jennings, La.) 1900-1903, 1901-12-17
CHAR
OF THE JENNINGS OIL COMPANY
STATE OF LOUISIANA. !
PARISH or CALCASIEU. {

and in the presence of the undersigned
competent Witnesses residing in the
said parish, personally came the per-
sons whose names are hereunto sub
scribed who declared that, avaiiing
themselves of the laws of Louisiana
relative to the formation and organic
alton of corporations, they do here
! by form and constitute themselves and
| their successors as we'll as such other
persons as may hereafter become assoc
ciated with them and their successors,
| into corporation or body polite in
law for the objects and purposes, and
under the stipulatiOns, articles and
conditions, as follows:
ARTICLE
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-
nings, in the parish of Calcasieu, La,
is the place chosen for its domicile,
and all citations against it may be
served on its president, or in his ab
sence or inability to act, on the vice
president.
| ARTICLE II.
The purpose for which this corpora
ton is established, and the nature of
|
are any one, or more, or all, OF the
following:
To construct, work aud maintain
railroads, canals, plank roads. bridg
es and ferries, whether within or With
out the limits of this State: to carry
| on manufactures of cotton, wooden,
! linen, silk and hempen cloths and cor
| dage:t to construct and carry on works
] to supply cities and towns with gas or
|
| Struct and carry on iron, brass and
copper foundries: to construct and
maintain dry docks or floating docks
| for 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 agricultural implements: to refine
! sugar. and to navigate the sea by
steam: to establish. maintain and OPP
crate lines of telegraph. and chemical
laboratOrieS;tOc construct and maintain
docks, steamships and other vehicles
| for the transportation of freight and
passengers: to construct. maintain
| and operate works of drainage. sewer
age and land reclamation, and to
| open and work mines for developing
| and obtaining natural gas. petroleum
coal. asphaltun, salt, sulphur, ore,
metals, and mineral and volatile sub
] stances of all kinds: and this corpora
| ton shall have power and authority
| to hold. receive. purchase and convey.
| and to hire, lease let, property both
real and personal, in SO far as the
same may be incidental to its objects
| and purposes. This corporation is
further organized for the purpose OF
acquiring the assets of the JEN-
! NINGS OIL COMPANY of Jennings,
Calcasie parish, Louisiana, at an
| agreed valuation thereon of SIXTY
| THOU DOLLARS $50, 600. 90. J
to be paid for in full paid up Capital
| Stock of this Corporation, and the
present corporation assuming all the
| Liabilities of the said Company.
| ARTICLE III.
The capital stock ofthis corporation
| is fixed at SIXTY THOUSAND DOLLARS,
| divided into Sixty Thousand Shares
| on a transfere of all 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 Comauy as
full paid, and in addition thereto this
Corporation shall assume all the
liabilities of said Company. This
said liability being taken and consid-
cred a fair, equitable, and proper
| equivalent for the assets Of said Com
pany. All transfers of stock shall be
made on the books of the Company at
its Office in Jennings Louisiana, and
only on surrender of the certificates
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 cXcr-
cised by Board of Directors com
posed of seven StOcllha lderS to be
selected by d majority 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-
ers in person or by proxy, and who
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 drinly or weelllp news
paper, published in the Parish al
Calcasieu. The BoaLd of Directors
herein named, as we'll as those sub
sequently elected shall continue in
Office until their successors are duly
elected in inducted, For the transact
ton Of any ano all business a major
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 time, such
officers, agents and employees as may
be deemed necessary for the proper
management and carrying out of the
| 81 h.n( ',Nt.tA nd 81,