The weekly messenger. [volume] (St. Martinsville [i.e. St. Martinville] La.) 1886-1948, 1907-12-07

porate name said corporation shall nave power
and authority To contract. sue and be sued; to
make and u Sc a corporate seal aQd the same to ,
break or alter at pleasure; to hold, receive, pur-
chase mortgage or convey under the said cor
perate name property real and personal, to name
and appoint such officers. directors. agents and
managers and employees the interest or con-
yenience of said corporation may require; to |
make and establish bylaws, rules and regula- !
tions for the proper management and reguia- |
ton of its affairs. as may be deemed necessary
and proper. and the same to change and alter
at pleasure; and to do all other acts and things
permitted by law, or as shall be necessary and
proper 10 ,rry out the objects and purposes OF
said COT ,~ation.
Said '.nrporation inless sooner dissolved,
shall EXT for period of thirty years from date.
The president. or in his absence the secretary
and tres >nr.r shall be the proper person upon
whom ;ation or other legal process shall be
served.
ARTICLE ii.
Tho c'.iecis and purposes for which this cor
poratiIn - organized. and the nature OF the
businas 20 be carried on are hereby declared to
be to e:.g4;,c in the business Of drilling upon or
otherwise exploiting such lands as it may ac-
quire in full part ownership, or to which IL
may acquire any rights whatever for the pur-
pose of discovering oils, gas or minerals; and
the same to explore and develop for CONNER
cial purposes. To undertake al works and
| make all contracts to that end desirable; and
such product it may bring forth, to sell or
otherwise dispose of; to make all such works or
| enterprises as may facilitate such drilling and
explorations, the stor ing of products, the sale
and delivery thereof, and in fine to do all things
necessary or convenient to the benefit of said
enterprise.
| ARTICLE Iii.
The capital stock shall be One Hundred Thou
sand Dollars (Si00.OG0.OO) dollars, divided into
shares of one hundred dollars each. which
stocks shall be paid for in cash at the time of
subscription OF of it, issuance. at not less
than par. sock may be issued in exchange for
property or rights actually received purcha-
sed by the corporation, or for such other valua-
bic consideration or services rendered as N ay
be determined by the board of directors provi-
ded that the stock so issued shall be clearly
equal to the consideration thereof; and provi-
ded that no stock shall is ne the consideration.
thereof shall have been received by said cOrpo-
ration.
days prior notice of his intention to sell be gil
ven to the Company. and the stockholders shall
have the first privilege of purchasing the same.
No transfer shall be made without the proper
entry thereof on the stock books of the Compa-
ny. This corporation shall commence doing
business as soon as seven thousand dollars of
the capital stock shall have been subscribed.
The directors shall have the right to determine
how much addition al stock shall be issued.
ARTICLE ".
The corporate powers of this Company shall
be vested in and exercised by board of Five
directors Three of whom shall constitute q quo
rum for the tran saction of business. and their
decision shall be valid corporate acts. There
shall be elected from these president. and a
secretary & treasurer. The board of directors
shall be elected the first Monday of each
year. Until tie election of 1909 the following
persons shall constitute the first board of direc-
tors: l.. b. Grow. H. Shelby Sanders. DR.. Geo,
J. Sabatier. Robert Martin, Walter j. Burk.,
and until such time Walter J. Burke shall be
president and Robert Martin secretary Il trea-
surer. At every election and meeting of stock
holders each stakeholder shullbe entitled - one
vote tor each share of stock registered in his
name, and may vote by proxy.
ARTICLEv.
The board of directors shlll have power to
fill vacancies in their number caused By death.
resignation or otherwise, from, among the stock
holders OF said corporation. The said board
shall have full control OF the property of this
Company, and shall so conduct manage and
use tho same, as III their discret,n they deem
fit and that is consistent with the objects bf
this Company or the welfare of the same. 1t
may adopt such rules and regulations the af-
fairs of the corporation may reqnire, employ
such servants, clerks. or other agents it may
appear dssira BILE; to fix and determine tie sala-
ries OF officers and other employees herein pro-
vided for.
ARTICLE VI.
This charter may be changed o: amended. the
stock increased or decreased. or the corporation
dissolved at general meeting of the stockhold-
ers convened for the purpose, with the assent of
three-fourths of the entire stock issued. wheth-
er present represented at such meeting.
Thirty days prior notice of such meeting shall
be given in any newspaper published in st.
Martinville. Notice shall likewise be given in
writing In case of dissolution Of this corpora
ton the liquidation of the affairs shall be con-
Quoted by three commissioners, selected from
the stockholders at a meeting called for that
purpose. as above set forth in this article. Said
commissioners shall remain in office until the
final liquidation. In case of the death of one
or more of such commissioners, the survivors
or survivor shall continue to act.
ARTICLE VII.
No stakeholder of this corporation Shall be
held liable for the contracts or faults there
: of, in any furthey sum than the unpaid balance
due the Company on the shares of stock sub
scribed for or owned by him, nor shall any in
formality in organization have the effects Of