The Caucasian. (Shreveport, La.) 1900-192?, 1910-03-20

Before me the undersigned authority, |
on this day came and appeared the sew
cral persons whose names are hereto
subscribed, who declared that they do
hereby form a corporation, under the |
lawS1f the State of Louisiana, for the
objects and purposes and under the
stipufations following, to-wit:
ARTICLE I.
The name of this corporation shall be
the INDUSTRIAL OIL COMPANY,
with its domicile in the City of Shreve-
pert, Caddo Parish, Louisiana, and I'M
der its said corporate name it shall have
and enjoy succession for a period OF
hfty (5o) years, unless sooner dissolved
as hereinafter specified All legal pro-
cess shall be served on the president, or
in his absence at the ONCE of the COM
paHy, according to law.
ARTICLE II.
The objects and purposes for which
this corporation is organized, and the
nature of the business to be carried on
are as follows: The purchasing and sell
ing of real estate and oil lands. To de-
velop oil, gas or other minerals on any
property owned, leased or controlled by
it or others in the State of Louisiana,
or elsewhere in the United States. To
drill wells and sell the prodution there
of and generally to do any and all
things necessary to be done in the fur
therance of such objects and purposes.
ARTICLE III.
This corporation shall have power to
contract, sue and be sued to make and
use a corporate seal and the same to
alter at pleasure; to hold, receive, pur-
chase, improve, ALLEVIATE, convey, sell,
borrow, mortgage and hypothecate I'M
der the corporate name all kinds of
property, and to make and establish
such rules and regulations for the
proper management of the affairs as it
may deem necessary, and the same to
alter and change at pleasure; and to
enjoy all other privileges and immune
ties given by the laws of the State of
Louisiana TO corporations organized for
similar purposes.
ARTICLE ".
The capital stock of this corporation
is hereby fixed at the sum of fifteen
thousand dollars ($15,ooo.oo), divided
into fifteen thousand shares (I5ooo)
of one dollar ($I.oo) each, payable at
the time of its issuance in cash or 9th
erwise. The stock may be paid for
either in cash or for its equivalent in
property or actual services performed.
This corporation shall commence bust
nessgas soon as four thousand $4,000
dcfiMfs shall have been subscribed and
paid for
ARTICLE "
The corporate powers Of this cor
poration shall be vested in board Of
directors composed Of four stoclxhold-
ers, who shall be elected annually on
the first Monday in March. The first
board Of directors is declared TO be w.
S. Johnston, t E. Bird L. c. Blanchard
and j. w Willis Jr., who shall serve
until their successors are chosen. Three
members shall constitute quorum of
the board of directors for the transac-
ton OF business. The officers of this
corporation shall be president, vice
president, a secretary and treasurer,
and the first Of said officers are declared
to be w S. Johnston, president 7. f.
Bird, vice president; L. c. Blanchard,
secretary, and J. W. Willis IT,, treas
urer, and they shall serve until their
successors are chosen, and said officers
shall be elected annually on the first
Monday in March. A majority Of the
stock present shall elect the directors,
and in ali elections or proceedings of
stockholders, each share Of stock pres
ent or represented by written proxy
shall be entitled to one vote. Notice of
all meetings of stockholders shall be adj
yertised ten (Io1 days in daily news
paper when required by law. Failure to
hold an election for directors on the day
named shalt not dissolve the corpora
ton, but the incumbent directors shall
hold over until their successors are
duly elected and qualified Any vacan
cy in the board of directors shall be
filed By the remaining directors.
ARTICLE VI.
This charter may be amended, or this
corporation may be dissolved at gen
eral meeting of the stockholders, con-
vened for that purpose. after due and
legal notice. as required by the laws
of the State of Louisiana, on vote of
three fourths (3-4) of the entire capi-
tai stock of the corporation, and when
SO dissolved, or when dissolved by linn
itation, its affairs shall be liquidated by
commissioner appointed for that pur-
pose, to be elected at such meeting of
stockholders, and who shall give such
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