The Caucasian. (Shreveport, La.) 1900-192?, 1907-04-11

| ARTICLE /.
The name of this corporation shall bt
PHELPS LAKE OIL AND MIN
ERAL COMPANY, LIMITED,' arc
by this name it shall have power ard
authority 10 have and enjoy succession
for the period Of ninety nine years; tc
contract, sue and be sued: to make and
| use corporate seal and the same tc
break, alter and amend at pleasure; and
under this name to hold, receive, pur-
chase and otherwise acquire, to own
convey, sell Or otherwise dispose of, to
| lease, pledge, mortgage or otherwise
hypothecate property, real personal and
mixed.
ARTICLE IT.
The dDmiciie OF this corporation is de-
ciafed>eo be in the City OF Shreveport.
Louisiana.
ARTICLEIII.
The nature of the business to be car
/ ried on and the purposes for which this
corporation is established are as fol-
lows: To develop oil, gas Or other min
erals On any property swned, leased or
controlled by it or others in the State
of Louisiana, or elsewhere ia the United
States; to drill wells, sink shafts, mine
and manufacture and sell the products
thereof; to construct, maintain and ope-
rate all necessary pipes and pipe lines
and generally to do any and all things
necessary to be done in furtherance of
such objects and surposes
ARTICLE ".
The corporate powers of this cor
poration shall be vested in board OF
directors composed Of seven stockhold-
ers. The directors shall elect presi-
dent, vice president. secretary and
treasurer. and shall prescribe the duties
Of each. Elections shall take place on
the first Tuesdsy of February in each
year. The first board Of directors shall
be as follows: G. E, Giimer, H. H. Whe-
less, w. B, Boggs, N. w. Sentell, R. E.
Wyche, J. R. Honeycutt and Alex R.
Macdonald, with G. E. Gilmer, presi-
dent; R. E. Wyche, vice president; w.
B. Boggs, Secretary; ~ w. Sentell,
treasurer All officers and directors shall
serve until their successors are elected
Service of all legal process shall be
made on the president, or, in his ab-
sence. at the Office of the company.
The board OF directors -, appoint
such managers, agents or sub-oficers as
the interests 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. If any vacan-
cies occur among the officers OF direc
tors. the remaining directors may select
10 6rl the same. The board
Of directors shall have power to borrow
and lend money: to issue bills Of ex-
change. notes, bonds, drafts and other
negotiable paper; execute mortgages
and generally to do all things incident
to the object and purposes of this cor
poration.
ARTICLE V.
The capital stock of this corporation
shall be twenty THOUSAND ($eoooooo)
dollars, divided irto eight hundred
shares of the par value of twenty-five
dollars each. This stock shall be paid
for in cash, or its equivaent at the ting
Of its subscription, unless other terms
are allowed by the board of directors |
At least four hundred shares of the par
value Of ten thousand dollars shall be |
and paid for before this cor
poration shall commence business. No
stockhoder shall be liable for more than
the unpaid balance on the stock sub
scribed for by him, nor shall any mere
in organization have the ef-
feet of rendering the charter null or of
exposing stockholder to any liability
beyond the amount of his stock.
ARTICLE VI.
The directors shall be elected by bal
lot at the regular meeting annually called
for that purpose, or any meeting ad-
journed from same At all stockholders
each share if stock shall be en-
titled to one vote; stockholdcr may
vote by proxy. A majority of the stock
holders shall constitute quorum. A
majority of the stock present shall eject
the directors. Special meetings may be