The southern sentinel., 1906-06-15
CHARTER
THE PACE OIL COMPANY, LIMITED
STATE OF LOUISIANA, |
Parish of UinD-

STATE or LOUISIANA,
Parish of vim. I
Be it remembered: That on this the 18th day
of June, A. ID. 1906, before me, Robert wade
Ogleshy, Notary Public duly commissioned
and qualified in and for the parish of winn.
Lousia-a, aud in the presence of the witnesses
hereinafter named and undersigned, personally
and by proxy appeared j. ID. Pace, b. Henry,
will A. Strong. John Henry Mathews, Geo. II.
Eagles, j. Il. Hall, Nj. Pillar. who declared !:
That, availing themselves of the laws OF the
State of Louisiana, relative to corporations,
they have covenanted and agreed, and by
these presents do covenant ard agree and
bind themselves, well as such other persons
as may hereafter become associated with them.
to form and constitute a corporation, body
polite in law, Tor the purposes and obj ects and
under the stipalaiions and provisions herein
after set forth, which they hereby accept as
their charter, to-wit:
ARTICLE 1.
The name and title of said corporation shall
be 1.-The Pace Oil Company, Limited, and its
domicile is hereby fixed and established at
winnield, winn parish, Louisiana, and under
its corporate name, the said corporation shall
have power and authority to contract, sue aud
be sued; to make and use corporate seal, and
the TO break and alter at pleasure, to
hold, receive, haze, purchase, improve,
ALLEVIATE, convey, sell, borrow. pledge, mortgage
aad kypothecate under its said corporate
name, property, real and personal and mixed
and 10 name and appoint such officers,
directors, agents and managers or employees,
to make and establish bylaws, rules and reg
ulations for the proper management and reg
uIation of its affairs as may be deemed neces-
sary and proper TO carry out tne OBJECTS ana 40
reasonably change and alter at pleasure To
do any and all other acts and things no. con-
s,a 70 .sw 10 esrry ont Objects and par
poses OF this corporation. Said corporation,
unless sooner dissolved by majority of the
stockholders. shall have existence for period
of ninety mine tss1 years, from and after the
date hereof.
Suits for this corporation shall be brought In
in it, name, by its president, or IN his absence
or inability to act, the hrst or second vice
president and all process of citation shall be
served on the president, or IN his absence, or
president either. or in the absence of these
officers, on the secretary, Ut the domlciie ana
Office of the corporation
The officers of this corporation shall be q
president, first yice-president. second vice
PRESIDENT secretary and treasurer, but the
secretary and treasurer may be niled oy one
and the same person; Inc treasurer, II tne
bond in a sum to be determined By the said
board, for the faithful performance OF his
duties.
said corporation, and shall be elected an
nually by the board OF directors, ana snail
serve until his successor Is elected. however,
said officers shall be or may b- subject 10
removal at any time by the board OF directors,
for good cause shown for such removal
ARTICLES.
corporation is organized and the nature of the
business to be carried.o on by il are declared to
be the following:
To buy. purchase or otherwise acquire, by
deed or gift, will or otherwise, to own, have
and hold, to sell, convey and dispose OF lands,
leases, oil, gas, stone, COAL zinc, lead, silver.
copper. coal, platinum. salt, sulphur ana All
other minerals and mineral deposits OF what
soever character or description, by any process
known to law. To own and operate mines,
drills, pumps and mining machinery OF every
a 1ka r.fl lines l.
evators and refinerles. IN short any ana All
kinds or character of machinery, for the
boring, pumping, refining. piping. tanking.
barreIing shipping and marketing OF OH, ana
all other kinds OF machinery for the mining,
and marketing OF any ana all
minerals and mineral deposits To construct,
own aud operate electric and any other power
plants and to manufacture, buy and sell oil,
gas coal, and all other chAracters ana kinds
OF minerals and mineral deposits. To buy and
sell oil, coal, gas, salt, sulphur anu All oensI
and to do all other things necessary Tor the
execution and carrying out OF the aooys
objects.
The capital stock of this corporatioe shall be
fifty thousand dollars tssoooo.uol 10 ee DIVIDED
into 5o,eoo shares, Of one dollar tsi.ool eacn,
which said shares are to be paid for IN cash or
its equivalent, before the same IL issued. and
this corporation shall have the privilege OF
beginning operations under this charter when
twenty 1--WE thousand dollars lt15,VO0ool cf the
caDital stock has been subscribed for.
ARTICLE s.
/, The corporate powers of this corporation
shall be vested IN board q ncS ~ wbom n 1e
shall be a shareholder, and the majority OF
said board of directors shall constitute
quorum.
meetings, the time for which shall be desig-
mated in the bylaws of the corporation, anaAt
said meeting, shall elect board OF directors,
declare dividends or losses, and transact any
other lawful business that may come before
The said board OF directors shall meet
within seven days after tnr annual meeting
of the shareholders. and at such meeting
shall elect a president, hrst vice president,
second vice-president. general manager, sec
retary and treasurer, and sucn otner omcsrs
as frey may deem necessary 70 seife i"i sA1e
ensuing year.
declared 10 be ]. D. Pace, s. r. Henry VIII a.
j. r. Hall, NJ. Pillar and they are hereby gwen
the power and authority to elect such of1cers
as they may see fit Tor the ensuing year
In ali elections of directors each snarehoider
shall be entitled to one vote for every share OF
stock held by him, and these votes must DC
cast by the stockholder in person, or by proxy,
renuired by the board of directors, under their
general rules and by-iaws, ana the majority Oh
the votes cast shall elect.
The board of directors snail make suen
bylaws, rules and regulations as may be
necessary for the proper management OF tue
business OF this corporation, and shall change
the same as they deem best, and shall have the
power to provide for, contract debts, borrow
money issue bills of exchange, executions, or
mortgages and hypothecations, and for doing
all other things necessary and incident 70 the
objects and purposes OF this corporation, and
shall have authority to vest the President with
such of these powers as they see Mt.
ARflcLR 6.
This charter may be changed or amended or
dissolved, by majority Of the votes OF the
at a meeting called by the
board of directors for that purpose, to dissolve
this corporation, its affairs shall be liquidated
by the board of directors, which is hereby
constituted the board of hquidators.
ARTICLE z.
No shareholder shall In any event be held
liable for the contracts or faults of the officers
OF this corporation, beyond that OF any unpaid
balance that may be due by him TO the cor
poration on shares owned by him.
shares of stock may be conveyed, sold and
but the transferee OF said stock
shall not have the privilege of voting with said
stock until the transfer of said stock Is made
on the books of the corporation, and shy
unpaid balance that may be due thereon paid
to the corporation.
The president, or in case of his Inability TO
act either the first yice-president or the
second vsce-pre sident, shall give each share
holder ten days written notice, through the
malls before the annual meeting OF the share