The St. Mary banner., 1902-03-08
SATURDAY, MARCH 8, 1902.
CHARTER
Of The Teche Transportation and
Fuel Oil Company, Ltd.
STATE OF LOUISIANA |
PARISH OF ST. MARY.

PARISH OF OT. MARY.
Re il known, that on this 25th day of Feb
ruary, 1902, before me, Charles Austin I, Neil
a Notary Public, duly commissioned AND
qualified within and for the Parish OF 81
Mary. state of Louisiana, and III the presence
of the witnesses hereinafter named ana un,
Joseph Brig, Esq, clyde A. Barbour, Esq.
and William w. Sutcliffe, Esq, residing in
the Parish of ST. Mary, except said sutcllHe
who resides in New Orleans, state OF Louis
lana, who severally declared unto me, said
Notary, that, avaling themselves or the laws
of the State of Louisiana, providing for the
organization of corporations OF llmlted la
blity they do, by these presents, for them
selves and for those who may hereafter be-
come associated withthenl, form and organ
lzca corporation and body polite In law an
der the style and for the objects and pur'
poses and according to the agreements, sti-
pulations and provisions herinafter set forth
viz:
ARTI lie I.
The name Of this corporation shall be, and
is. THE TECHE TRANSFORMATION AND
IEL OIL CO., LIMITED, by which name
said corporation shall have and enjoy its cor
poratc existence and succession tor the
term of Ninety nine (%.0 years from and after
the date hereof. unless sooner dissolved ac-
cording tC law: and under said corporate
name it shall have power to contract, to sue
and be sued to make ana use corporate
seal and the same to break and alter at its
pleasure: to hold, receive, lease, purchase,
SELL and otherwise convey and to mortgage
and hypothecate. under is corporate name,
both real and personal property; to borrow
therefor; to name and appoint such manag-
ers, directors. officers, agents and employers
as the interests of the said corporation may
require: and to make and establish such
rules, regulations and bylaws as may be
deemed necessary or convenient and the
same to amend and alter AZ pleasure.
ARTICLE II.
The dOmiciie of this corporation is declared
to be in the parish of ST. Mary. Louisiana
and all legal processes shall be served upon
the President Of this corporation, and, in
and in case OF the absence of both, then upon
the Secretary and Treasurer.
ARTICLE III.
The objects and purposes for which this
corporation is established, and the nature
of the business to be carried On by it are: To
purchase Il steamboat or steamboats, and the
necessary barges to carry ON general trans.
por.ation business, and especially to tow fuel
oil and distribute same to consumers; and
to this end, the said cosporatiOn shall have
authority to purchase, lease, let and hire
steamboats,, barges and all necessary water
craft; to establish wharveS, warehouses, der
ricks, storage tanks and all necessities and
convenienccs for the carrying on of the
transportation business.
ARTICLE w.
The capital stock of this corporation is
fixed ut the sum of ten thousand dollars
$50 OOo), represented fy one hundred (l00)
shares of the par value of one hundred dol
lars ($100l each; with capital stock may be
increased in compliance with the laws of the
State of Louisiana, in such case made and
provided. And eighty shares of the said
capital stock being subscribed for by the
cash, this corporation shall commence bust.
ness and be IL going concern Immediately
from and after it's organization.
ART Gle V.
Transfers of stock shall not be permitted
otherwise than upon the books of the cor
poration by the Secretary or under his direc-
tion. No stockholdcr shall be permitted to
transfer his stock while in any manner in
debted to this corporation.
ARTICLE vi.
All of the corporate powers of this corpo-
ration shall be vested in and all Of its affairs
managed and directed by board of three
directors who shall be elected annually
at meeting of the stockholders to be held
on the first Monday Of March of each year,
commencing with the first Monday of March,
1903. Each Stockholders shall be entitled to
one vote for each share of stock standing in
his name, to be cast either in person or by
written proxy, and a majority OF votes cast
shall elect. The directors shall hold Office
for the term of one year and until their sue
cessors shall have been elected and quail
fed. The said board OF directors shall elect
from the members of said board, q president
treasurer; and the office of secretary and
treasurer shall be held by one and the same
person. In the event of a vacancy on the
board of directors occurring from death, re-
signation or otherwise, the remaining mem
bers shall fill the vacancy un.il the next
election. The said directors shall have DOW.
cr to make and establish all necessary rules,
by-laws and regulations for the govern
ment OF the said corpol alton; and to APP
point General Manager and all other off,
GERS. clerks, agents, representative and
employees, as in their judgment may be
deemed necessary for the conduct of the |
business OF this company and to fix their |
compensation. And they shall have the |
right TO discharge or release any employee
At pleasure. The Presi tent, or in his ab- |
meetings of the board of directors anu |
shall preside over them whenever he may |
deem 1t expedient or necessary; and he |
shall have the right to vote at meeting |
The same as any other member. Two mem
Ders OF the said board of directors shall |
constitute a quorum.
ARTICLE VII.
Inc nrst board OF directors shall be COM
posed Of Joseph Birg, Clyde A. Barbour,
lnd William W. Sutcliffe; and the said
Clyde A. Barbour shall be President of the
,afd corporation and the said William w.
5utcltne shall be Vice President and said
Joseph Birg shall be Secretary and Treas
arer. All meetings of the Board Of Direc-
! 'rs shall be preceded by ten days. publi-
;atlon IN any newspaper published in the
own OF Franklin, or by notice in writing
served up n each Of the stockholders. or
nailed to them at their reputed postofice
sd0resses; but this notice can be waived.
ioWever, by any stockholder.
ARTICLE VIII.
whenever this corporation is dissolved
tther By Limitation or otherwise, its af-
airs shall be llquidated by liquidators to
. selected by the Board Of Directors at a +,
seneral meeting convened in accordance
WITH Article TX of this charter. The said
lqaidatoD shall remain in Office until af-
e the affairs of this corporation shall
fnlly fiquidated Ia the event Of the /,
eath Qf any Of the liquidators, or of a !
acancy from any othsr cause. the said I
.eaney shall at once be filled by the l
'ieott1q Of another liquidator by the re. .
ainl stockholders. a
ARTICLE TX. {
~ oct Of incorporation NAV be y
!An4e1, altered or amended or the said Il
lEyo11lion dissolved by vote Of thrce- b
uzS1 (8-4) in amount of the capital v
- eeprescnted at q meeting of the =
okh1ders c1tyARed sitter thirty (3Ol :
- 1Npvt0nahe nS4f3no ~ essch ,,.nn&:~I r,