The Caucasian., 1907-01-17

governing SOipoi dtipliS, ana uiidSi lli'
provisions of the articles of incorpora
non hereinafter set forth
ARTICLE |.
The name of this corporation shall bt
THE PINE ISLAND OIL COM
PANY," and ythis name it shall have
power and authority TO have and enjo,
succession for the period of ninety ninl
years: to contract, sue and be sued: to
| make and use a corporate sea! and the
same to break. alter and ameni at pleas
ure; and under this nam to hold, receive
purchase and otherwise acquire t. own
convey, sell. or otherwise dispose OF, tc
letse, pledge, mortgage or otherwise by.
potfecate property, real and persona
and mixed.
ARTICLE II.
The domicile of this corporation IS de-
clared to be in the City of Shreveport
Louisiana. @
ARTICLE III.
The nature of the business 10 be car
ried on and the purposes for which this
corporation is established are rs follows
70 develop oil. gas or c'hef minerals on
any property owned, leased or coitrolled d
by it or others in the State ci Louisiana
nr elsewhere in the United States, &c
drill wells and sell the product thereof
to 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 and all
things necessary to be done i'll further
ance of such objects and purposes.
ARTICLE ".
The corporate powers of ttis corpora
ton shall be vested in board of direc-
tors, composed of six stockholders. he
directors shall elect a 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 yeac. The first
board of directors shall be 4, follows
w. S. Hunt, E w Townes, Jchn W
Young, John Young, S. S. Brady and
H. R. Hughes, with John Young presi-
dent; Howard R. Hughes, vice presi
dent; and S. S. Brady, secretars treas
urer All officers and directors shall
serve until their successors are cl-ct-
Service of all legal process shall 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 sub-oficers as
the interest of the corporation may re-
quire, 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 .ary va
cancies occur among the officers Or di-
rectors the remaining directors may
elect stockholders to fill the same 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 Il 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
subscription, 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
subscribed and paid for before this cor
noration shall commence business. No
stockholder shall be liable for more than
the unpaid balance on the stock subscrib
ed by him, nor shall any mere informal
ity in organization have the effect of
rendering this charter null or of expos
ing a stockholder to any liability beyond
the amount of his stock.
ARTICLE VI.
The directors shall be eected at the
regular meeting annually called for that
purpose or any meeting adjourned from
same. At all stockholders meeting each
share of stock shall be entitled to one
vote; stakeholder may vote by proxy.
A majority of the stockholders shall
constitute quorum. A majority of the
stock present shall elect the directors.
Special meetings may be called at the
will of the president or on demand of
three stockholders. The stockholders of
this corporation at a general meeting
called for that purpose on demand of
of the stockholders may modify,
change, alter or amend or dissolve the
with the assent of three
fourths of the stockholders present
This shall not apply to increasing or de-
creasing the capital stock which is done
under special laws.
Five 90 days written notice of any
meeting shall be given by the secretary
Ii dissolution be determined upon, ma