The Caucasian. (Shreveport, La.) 1900-192?, 1910-03-13

!. it or others in the State Of Louisiana,
or elsewhere in the United States. 10
drill wells and SELF 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 inlmuni-
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 ($I5,ooooo), divided
into fifteen thousand shares I5,ooo)
of one dollar ($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
ness as soon as four thousand $4,000
dollars shall have been subscribed and
paid for.
ARTICLE V.
The corporate powers of this cor
poration shall be vested in board of
directors composed of four stockhold-
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. 1hree
members shall constitute quorum of
the board of directors for the transac-
ton of business. The officers of this
corporation shall be a president, vice
president, secretary and a treasurer,
and the first of said officers are declared
to be W. S. Johnston, president; /. Z.
Bird, vice president; L. c. Blanchard,
secretary, and J. W. Willis Jr, 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 all 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 ad-
vertised ten (Io) days in daily news
paper when required by law. Failure to
hold an election for directors on the day
named shall 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.
IT, -, 49, ,,,.,, ba ,.,,a,,dad ~ +hi c
corporation may be dissolved at a gem
era1 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 go of the entire capi-
| tai stock of the corporation, and when
so dissolved, or when dissolved by lin
itation, its affairs shall be liquidated by
a commissioner appointed for that pur-
pose, to be elected at such meeting of
stockholders, and who shall give such
bond and perform such duties as they
may require.
ARTICLE VII.
No stakeholder OF this corporation
shall ever be held liable or responsible
for the contracts or faults thereof in
any further sum than the unpaid bal
ance due on the shares of stock sub
scribed for, nor shall any mere infor-
mality in the organization have the eff
feet of rendering this charter null or
exposing any stakeholder to any liabil-
! ity beyond the unpaid balance due on
his stock.
Done and passed at my office in Cad
do Parish, Louisiana, in the presence of
A. D. Calhoun and ]. H. Marshall, COM
petent witnesses, on this the 5th day of
March A. D. 1910.
w. S. JOHNSTON.
T. E. BIRD.
L. C. BLANCHARD,
7. w. WILLIS JR..