The southern sentinel. (Winnfield, La.) 1883-1910, 1906-06-29
CHARTER
OF
THE PACE OIL COMPANY, LIMITED

"A.
Parish of vim. /
Be it remembered: That on this the 18th day
OF June, A. d. 1906, before me, Robert wade
Ogleshy Notary Public duly commissioned
and qualified in and for the parish of winn
Louisiana, aud in the presence of the witnesses
hereinafter named and undersigned, personally
and by proxy appeared j. ID. Pace, B. f Henry,
will A. Strong, John Henry Mathews, Geo. p.
Eagles, j. II. Hall, Nj. Pillar. who declared:
That, awaiting themselves of the laws OF the
State of Louisiana, relative to corporations,
they have covenanted and agreed, and by
these presents do covenant and agree and
bind themselves, as 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 acts and
under the stipulations 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 The Pace OIL Company, Limited and its
domicilc is hereby fixed and established al
winfield, VIM 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 same to break and alter at pleasure; To
hold, receive, have, purchase, improve,
ALLEVIATE, convey, sell. borrow, pledge, mortgage
and bypothecate under its said corporate
name, property, real and personal and mixed;
and to 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
ulation of its affairs may be deemed neces-
sary and proper to carry out the objects and
| purposes of said corporation, ana the same 10
reasonably change and alter at pleasure. To
1 do any and all other acts and things not con-
4 trary TO law, and as shall or may be necessary
and proper to carry out the objects aud pur-
| poses of this corporation. Said corporation,
/ unless sooner dissolved by majority of the
| stockholders, shall have existence for period
of ninety nine (ss) years, from and after the
| date hereof.
/ ARTICLE 2.
Suits for this corporation shall be brought in
1 t.. sslaraa IN, hrl hcl
| or inabi.ity to act the first second vice
president. and all process OF citation shall be
served On the president, or in his sbsence, or
inability to act, on the hrst or second vice
president either or in the absence OF these
officers on the secretary, at the domiciie ana
office of the corporation.
The officers OF this corporation shall be
president first yice-president, second vice
president, secretary and treasurer, out the
secretary and treasurer may be filled by one
and the same person. The treasurer, n the
board of directors shall so require, shall give
bond In a sum to be determined BY the said
board, for the faithful performance OF his
duties.
Each officer shall be a shareholder in the
said corporation, and shall be elected an
nually by the board of directors, and shall
serve until his successor Is elected. howeser,
removal at any time by the board of directors,
for good cause shown for such removal.
ARTICLE 8.
The objects and purposes for which this
corporation is organized and the nature OF the
business to be carried on by it are declared TO
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, zine, lead silver
copper, coal, platinum, salt, sulphur aud 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 /
form and character, pipe lines, tanks, ell
evators and refineries, in short any and all
kinds or character of machinery, for the
boring, pumping, refining, piping, tanking,
barreling, shipping and marketing OF oil, and
all other kinds of machinery for the mining,
manufacturing and marketing OF any and all
own aud operate electric and any other power
plants, and to manufacture, buy and sell oil,
gas, coal, and all other characters and kinds
OF minerals and mineral deposits To buy and
sell oil coal gas, salt, sulphur and all other
kinds and character of mineral bearing lands,
and to do all other things necessary Tor the
execution and carrying out OF the above
objects.
The capital stock of this corporatioe shall be
fifty Thousand dollars ESQ., 10000 TO be divided
into SO, 900 shares, of one dollar (Sl.ool each,
which said shares are to be paid for in cash or
its equivalent, before the same Is issued, and
operations under this charter when
twenty Eve thousand dollars ls25, LOO OF the
capital stock has been subscribed for.
ARTICLE 5.
The corporate powers of this corporation
shall he vested in q board of directors, to be
of seven persons, each OF whom
shall be q shareholder, ana the maiorlty OF
said board of directors shall constitute
quorum.
meetings the time for which shall be desig-
mated in the bylaws of the corporation, and at
said meeting, shall elect q board OF directors,
declare dividends or losses, and transact any
other lawful business that may come before
their meeting.
The said board of directors shall meet
within seven days after the annual meeting
Of the shareholders. and at snch meeting
second vice. president, general manager, Sec
rotary and treasurer, and such other officers
as trey may deem necessary, to serve for the
The first board of directors. however, are
declared to be j. d. Pace, b. +. Henry. will A.
strong, John Henry Mathews, Geo. p. Eagles,
]. q. Hali, NJ Pillar and they are hereby given
the power and authority to elect such officers
as they may see nit TOR the ensuing year.
In all elections OF directors each shareholder
stock held by him, and these votes must be
cast by the stockholder IN person, or by proxy,
authorized in any manner that may be
general rules and bylaws, and the majority OF
the votes cast shall elect.
The board Of directors shall make such
bylaws, rules and regulations as may be
for the proper management OF the
business of this corporation, and shall change /
the same as they deem best, and shall have the
money, issue bills OF exchange, executions, OF
mortgages and hypothecations, and for doing
all o.ner things necessary and incident to the
objects and purposes Of this corporation, and
shall have authority to vest the President with
such Of these powers rs they see ut.
ARTIcLE 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 iqnidated
by the board of directors, which is hereby
constituted the board of iquidators.
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
transferred, 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 any
unpaid balance that may be due thereon paid
to the corporation.
ARTIcLE q.
The president, or in case OF his inability to
act, either the first vice-president or the
second v'ce-prt sident, shall give each share
holder ten days written notice, through the
mails, before the annual meeting OF the share