The southern sentinel. (Winnfield, La.) 1883-1910, 1906-07-20
CHARTER
THE PACE OIL COMPANY, LIMITED


ogleshy, Notary Public duly commissioned
aud qualified in and for the parish of winn,
Louisia-a q, 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. P.
Eagles, j. r. 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 and agree and
bind themselves, as well as such other persons
as may hereafter become associated with them.
to form and constitute q corporation, a body
polite in law, for the purposes and obj ects and
under the stipuIations 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
domicile is hereby fixed and established at
WINFIELD, vim parish, Louisiana, and under
its corporate name, the said corporation shall
have power and authority to contract, sue and
be sued; to make and use q corporate seal, and
the same to break and alter at pleasure; to
hold, receive, have, purchase, Improve,
ALLEVIATE, convey, sell borrow, pledge, mortgage
and kypothecate under its said corporate
name. property, real and personal and mixed;
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 as may be deemed neces-
sary and proper carry out the objects and
purposes of said corporation, and the same to
reasonably change and alter at pleasure. To
do any and all other acts ano things not con-
trary to law, and AS shall OF may be necessary
and proper to carry out the objects and pur-
poses OF this corporation. Said corporation,
unless sooner dissolved by majority of the
sfp hnl existence A
Of ninety nine (ss) years, from and after the
date hereof.
ARTICLE 2.
Suits for this corporalion shall be brought In
in it, name, by its president, or in his absence
or Inability to act, the trst or second vice
president, and all process of citation shall be
served on the president, or in his sbseuce, or
inability 10 act, ON the first or second Ice
president, either. or in the absence of these
officers, on the secretary, at the domic1ie and
The officers OF this corporation shall be o
president, first yice-president, second vice
president, secretary and treasurer, but the
and the same person. The treasurer, If 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
Each officer shall be shareholder in the
said corporation, and shall be elected an
nually by the board OF directors, and shall
serve until his successor Is elected. However,
said officers shall be or may be subject to
removal at any time by the board of directors,
for good cause shown for such removal.
ARTfCLE 3.
The objects ana purposes for which this
corporation IL organized and the nature OF the
business to be carried on by it aredeclared TO
To buy, purchase or otherwise acquire, by
deed or gift, will or otherwise, to own. have
ana hold, to sell, convey and dispose OF lands,
copper. coal, platinum, salt, sulphur and 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, Tor the
barreling, shipping and marketing OF oil, and
all other kinds OF machinery for the mining,
and marketing Of any and 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 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 corporation shall be
fifty thousand dollars tS5O,0Oo.u0) to be divided
into 50OoO shares, of one dollar tslO0l each,
which said shares are to be paid for in cash or
its euuiyalt mt, before the same is issued, and
this corporation shall have tne privilege OF
beginning operations under this charter when
twenty five thousand dollars ls25, 900 ooJ If the
capital stock has been subscribed for.
The eorporate bowers Of this corporation
shall be vested in board OF directors, to be
composed of seven persons, each OF whom
shall be shareholder, and the majority OF
said board of directors shall constitute q
The shareholders shall hold regular annual
meetings, the time for which shall be desig-
-. - q y frn
said meeting shall elect board of directors,
declare dividends or losses, and transact amy
other lawful business that may come before
their meeting.
within seven days after the annual meeting
OF the shareholders, and at such meeting
shall elect president, FIRST vice president,
second vice-president, general manager, sec
rotary and treasurer, and such other officers
as they may deem necessary, to serve Tor the
ensuing year.
declared to be j. ID. Pace, Is. 4. Henry. will A.
strong John Henry Mathews, Geo. +. Eagles,
]. Il. Hall, NJ. Pillar and they are hereby gwen
as they may see fit for the ensuing year.
In ali elections of directors each shareholder
shall be entitled to one vote for every share OF
stock held by him, and these votes must be
cast by the stakeholder in person, or by proxy,
authorized in any manner that may be
required by the board OF directors, under their
general rules and bylaws and the maturity Of
u
The board of directors shall make such
bylaws, rules and regulations may be
necessary for the proper management OF the
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 10 the
objects and purposes of this corporation, and
shall have authority to vest the President with
such OF these powers as they see tit.
"a.
This charter may be changed or amended or
dissolved by q majority OF the votes of the
at u meeting called by the
board OF directors for that purpose, to dissolve
this corporation, its affairs shall be liqadated
by the board Of directors, which is hereby
constituted the board of liquidators.
ARTICLE z.
No shareholder shall in any event be held
liable for the contracts 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 any
unpaid balance that may be due thereon paid
TO the corporation.
ARTICLE 6.
The president, or in case OF his inability to |
act, either the first vice-president the |
second v'ce-president, shall give each share
holder ten days written notice, through the |
mails, before the annual meeting Of the share |
a. ha Aosa nod nv he ~ afI