The Caucasian., 1910-03-15

it or others in the State of Louisian
or elsewhere in the United States /
drill wells and sell the prodution there
} of; and generally to do any and a
things necessary to be done in the fu1
therance of such objects and purposes
!, ARTICLE III.
| This corporation shall have power
contract, sue and be sued: to make an
use a corporate seal and the same t
alter at pleasure; to hold, receive, pur
chase, improve, ALLEVIATE, convey, sci
borrow, mortgage and hypothecate TN
der the corporate name all kinds o
property, and to make and establish
such rules and regulations for tht
proper management of the affairs as
may deem necessary, and the same tt
alter and change at pleasure; and tt
enjoy all other privileges and imnuni
ties given by the laws of the State o:
Louisiana to corporations organized fol
similar purposes.
ARTICLE ".
The capital stock of this corporation
is hereby fixed at the sum of fifteen
thousand dollars ($15,ooooo), divided
into fifteen thousand shares (I5,ooo)
of one dollar ($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 commence busi-
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 ]. W. Willis Jr., who shall serve
until their successors are chosen. Three
members shall constitute a quorum of
the board of directors for the transac-
ton of business. The officers of this
corporation shall be a president, vice
president, a secretary and a treasurer,
and the first of said officers are declared
to be w. S. Johnston, president; 7. E.
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 adj
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
tion, but the incumbent directors shall
hold over until their successors are
duly elected and qualified. Any vacanI
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 a gem
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
(3-4) 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 stockholder 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 stockholder 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.