The Caucasian. (Shreveport, La.) 1900-192?, 1907-01-15
CHARTER
iOF THE PINE ISLAND OIL COM
PANY.

PANY.
State of Louisiana, Parish of Caddo ::
Before me, Frank J. Looney, Notary
Public in and for Caddo Parish, Louis
lana, at my Office i'll the City of Shrevc-
port. La, came and appeared on the
date hereinafter written, the following
persons: Howard r Hughes, a resident
of Caddo Parish, La. S. S, Brady. Of
Harris County, Texas w S Hunt and
f. w. Townes of Harris County, Texas :
John W. Young and John Young Of
Galveston. Texas, who declared to me in
the presence of the witnesses that they
desire to form and constitute corpora
that they do hereby form themselves and
their successors into corporation and
constitute same in compliance with the
provisions and subject to the restrictions
| OF the laws of the State of Louisiana
governing corporations. and under the
provisions of the articles of incorpora-
I"n hereinafter set forth.
ARTICLE |.
| | he name Of this corporation shall b,
THE PINE ISLAND OIL COM.
PANH, and b ythis name it shall hav,
power and authority 10 have and enjoy
succession for the period of ninety -ning
years; To contract, sue and be sued to-
| make and use corporate seal and tie
| same to break, alter and amen 1T bltds-
| ire and under this nam to hold. receive,
purchase and otherwise acquire t. own
convey. sell, or otherwise dispose Of, t.
letse, pledge, mortgage or otherwise ny
pothecate property. real and personal
and mixed
ARTICLE II.
The domicile of this corporat;1l S dc
clared to be in the City of Shreveport
Louisiana.
ARTICLE III.
The nature of the business TO be car
rled on and the purposes for which this
corporation is established are As follows
10 develop oil. gas or c:raf minerals on
any property owned. leased or controlled
by it or others in the State cI Louisiana.
II elsewhere in the United States. to
drill wells and sell the product thereof
10 construct, maintain and operate pipe
lines for conveying oil, gas or Other pro
ducts from such wells to Shreveport.
La, and other points in the Urited
States, and generally , to do any end all
things necessary to be done in further
lnce of such objects and purposes
ARTICLE ~.
The corporate powers of tbs corpora
ton shall be vested ina bo1rd of drec- |
tors, composed of SIX stockholders. i he |
directors shall elect president vice |
president, and secretary. and shall pre-
scribe the duties of each.
Elections shall take place on the 9th |
day of December in each yea The first |
board of directors shall be I, follows |
w, S. Hunt, F. W. Townes, Tohn " |
Young. John Young. s. S Brady and |
H. r. Hughes, with John Young pres:
dent; Howard R. Hughes, vice presr
dent; and S. S. Brady, secretary treas
urer, All officers and directors shall |
serve until their successors are el~ct,l.
Service of all legal process sha,l be
made on the president or in his absence |
at the Office of the company.
The boardr of directors may appoint
such managers, agents or officers a
The interest of the corporation may re
1ulre, and make and establish such by
laws as may be necessary and proper for
the management and regulation of the
affairs of the corporation. Ii airy vi
cancies occur among the officers or di-
rectors the remaining director, may
elect stockholders to fill the sam! The
board of directors shall have power to
borrow and lend money, issue bills of
exchange, notes, bonds, drafts and other
negotiable paper; execute mortgages and
generally to do all the things incide * to
the objects and purposes of this corpora
ton.
ARTICLE V.
The capital stock of this corporation
shall be twenty-five thousand dollars, di
vided into two hundred and fifty shares
Of the par value of one hundred dollars
each. This stock shall be paid for in
cash or its equivalent at the time of its
unless other terms are al
lowed by the board of directors.
At least one hundred shares of the par
value of ten thousand dollars shall be
and paid for before this cor
Doration shall commence business. No
shall be liable for more than
he unpaid balance on the stock subscrib-
I'd by him, nor shall any mere informal
ty in organization have the effect of
-endering this charter null or of expos
ng a stakeholder to any liability beyond