The Rice belt journal. (Welsh, Calcasieu Parish, La.) 1900-19??, 1902-12-12
CHARTER OF
MERCHANTS OIL COMPANY.
STATE OF LOUISIANA, !
PARISH OF SIEU. {

STATE OF LOUISIANA,
PARISH OF CALCASIEU.J
Be IT KN9wH that on this the seventh day OF
nG Nne In tae and Wo befoe -
Heinen, q notary public. duly commissioned
sen and State Of omsionaa and in the pres
ence OF the witnesses hereinafter named anG
the several persons whose names are hereto
| subscribed. who severally declared that, avail
Louisiana in such cases made and provided
and more especially of the Act Number one
Of the General Assembly of the State OF gu
| isiana for the year 1880, they do by these
as well rs such other persons may become
| associated with them hereafter, as follows,
a corporation and body polite, in law for the
objects and purposes ana under the stlpu-
ARTICLE 1.
| The name and title of the corporation hereby
| formed shall be the MERCHANTS OIL COM
city Of Welsh, in the Parish of Gacasiea ana
| State of Louisiana
ARTICLE II.
The objects and purposes of said CORPORATION
and the nature OF the business to be carried on
! by it are as follows to-wit:-
minerals wherever they may be found, and
more especially salt, sulphur, natural gas, rock
the is fomnd an e b b
and sell the same in their crude and manufac-
! 10 buy, own, acquire, sell, exchange, lease.
| donate. mortgage, hypothecate and to con-
tract to buy. sell, exchange lease all kinds Of
| such improvements as may be necessary for
| the operation and carrying on OF the business
| of the corporation.
TO buy. own, lease, build, erect rent. such
piiances and maintain and extend the same
| and more especially the storage of oil and gas
ton by use of machinery and appliances aud
| to provide transportation by constructing
| railroads, canals or other means of transport
tation.
ARTICLE III.
| The said corporation shall enjoy succession
i by its corporate name and shall possess all the
powers incident to corporations and author
lied by law. for the period of twenty-five years
from the date of this act.
| ARTICLE ".
| The capital stock of this corporation is fixed
| at tiye hundred Thousand dollars ls5OO,OOO),
| divided INTO five hundred thousand 600 OOOt
each, with the privilege OF increasing or de-
| creasing the same in the manner provided by
All stock subscribed for shall be paid for in
| cash at the time of subscription; provided
/ property rights may be given and received in
\ payment for stock subscribed, in such manner
and in CONFORMITY to law, The certifcate IS
| of stock shall be signed by the president and
seal Of the company and Shall not s be issned
until fully paid for and are transferable only
And this company shall be authorized to
| begin business as soon as ten thousand 40, OOO)
| shares of said stock shallhave been subscribed
| for, or in a larger or less amount as the board
of directors may direct, and all stock not sub
| scribe ed Tor shall remain the property of the
| corporation and shall be called treasury stock.
ARTICLE V.
| The capital stock may be increased or de-
| as may hereinafter be decided by two-thrds
vote of the stock voting at any meeting. The
1 OF any treasury stock for the purpose OF I'M
| provement OF corporation property and pay
ment for labor performed or services rendered,
and in payment of interest. and in the actual
purchase, leasing or rental of property. All
stock may he disposed of at less than par val
ne, the price to be fixed by the board of direc-
tors and shall be worcestershire.
| ARTICLE VI
| The powers of said corporation shall be
| vested i'll board of directors to be composed
of fifteen stockholders to be elected yearly
each The rst board Of G drec
tors appointed under the charter shall serve
1904, and thereafter until their successors
shall be elected and qualified Ten days notice
dress OF each stockholder or by publication in
a newspaper, fifteen days, published at the
required for the election. Each share of stock
shall be entitled to one vote and the majority
All elections shall be by ballot.
| 81 he board of directors snail ANNUALLY elect
dent secretary, and treasurer and as many
mana gers and under officials as they may deem
business and OF the interests OF the CORPORA
ton. All officials shall be elected to serve
Six Of the members of the board of directors
| shall constitute a quorum for the transaction
of business. The board of directors shall have
all necessary power to make by laws, rules and
regulations for the government of the affairs
of the corporation and to change the same
| whenever they deem 1t necessary. Vacancies
in the board Of directors shall be filled by the
said board of directors during the interval
bet~een elections. In all elections sto ck-hold-
ers may vote their stock in person by writ
/ All citations and legal processes shall be
served on the president, and in his absence on
the president and vice-president, on the sec
| retary..
ARTICLE VII.
This charter may be amended or altered or
the sid corporation may be dissolved by q
vote of the stockholders owning three-fourths
of the stock represented at meeting called
for that purpose, after thirty days notice in q
newspaper published at the domicile of the
ton of this corporation its affairs shall be
lquldated by three commissioners who shall
be appointed by the stockholders from their
number A majority vote of the stock holders
shall elect such commissioners and shall es-
tab1Sh the terms and manner of such liquida-
ton and shall make and define the powers. du-
and the manner in which vacancies in their
number shall be filed, if any occur
ARTICLE VIII.
| The corporal on may have and use n corpo-
| ration seal and break and alter the same at
pleasure. -
| ARTICLE IN.
| The president shall be the executive officer
of the corporation. He SHALL when present
| lied to act for said corporation, to sign all
acts, deeds and conveyanceS, mortgages, leas-
es or pledges, or receive the same in the name
| of tho corporation. He shall be the duly al-
! thoriZed party and representative of the cor
poration to institute suits and to defend the
same, and execute bonds, and generally to
/ toll 7 nah n otto