The herald. [volume] (New Orleans, La.) 1905-1953, 1911-05-18

absence, upon the vice-president, or in the
absence of both Of those officers, upon the
secretary of the corporation.
ARTICLE III
The objects and purposes for which thi,
corporation is established and the nature
OF the business TO De carried on by IL are
declared and specified to Ice TO purchase
| own. hold, sell, mortgage, lease. ALLEVIATE
receive and otherwise acquire and dispose
of real estate. oil and mineral land and
oil and mineral rights and any other inter
| est in lands. both in Louisiana and else
where: 10 buy. sell. own, lease, or other
wise acquire, and TO operate and maintain
as principal or as agent, in this state OF
| elsewhere. drilling outfits. machinery, appli
| ances. apparatus and buildings Of every de
Scription. used or suitable for use in the
extraction Of oil or any other minerals from
the earth. and for the housing. preserva,
tion, handling, refining and transportation
OF same when so extracted, and partCu
larry storage tanks and pipe lines. all sole
ly for the uses OF its own business and
without power OF eminent domain to buy
sell, or otherwise acquire and ALLEVIATE, and
to establish, export or import oil. miner
ais or mineral products OF all kinds and in
connection with said objects TO lease, buy
sell, build or otherwise to acquire. and to
locate and maintain warehouses. sheds, stOr
agc tanks, tank cars, dwellings, store
houses and repair shops; 10 sell merChan
disc and carry on general store and com
missary and to conduct hotels, boarding
employees, and generally to hold and er.
ercise all such incidental powers and priv
ilegeS not expressly excluded. as relate TO
the objects hereinbefore set forth.
ATICLE "
The capital stock OF said corporation il
hereby fixed at forty-tive thousand dollars
tS4J.OOO.OO) divided into and represented
by nine hundred 5000 shares at ifty dol
lars $4,000 each. The whole Of said
stock or any part thereof may be issued and
delivered to any person. firm or corporation
for the requirement OF the rights, priv
leges, franchises and property, or any part
thereof, now owned or controlled by the
Rita oil Development Company (unincor-
poratcdD. or to any other person or cOrpOr-
alton for property, rights. franchises. etc
purchased and acquired by this corporation :
also in payment. settlement and adjust
ment OF the costs, fees, charges and eI-
penSeS and commissions incurred for ser
vices rendered in the formation and organ
ization Of this corporation, and in acquir-
Ing and bringing about the purchase OF the
property, rights and franchises aforesaid :
also for cash or In instalments OF such
amounts as the board of directors NAV de
termine; also for merchandise received or
services actually rendered to this company
The board Of directors hereinafter created
is especially authorized to dispose OF the
stock Of this company in whole or in part
for any and all OF the purposes above
stated, as in its judgment may seem fair
and proper.
ARTICLE V.
All the powers Of this corporation shall
be vested in and exercised by a board OF
nve To- directors, each OF whom shall hold
in his own name at least two shares Of
stock. Said board OF directors shall be elect
ed annually on the first legal day Of OctO-
Der OF each year, the first election to be
held In the year 1911. All such elections
shall be by ballot at the Office Of the cor
poration. under the supervision Of three
cor IN ali To hn
OF directors. and in the absence OF any com
missioner the president shall have power
TO NIL the place by appointment and Of all
such elections, as well as OF all meetings
OF stockholders, except for the purpose of
liquidation or dissolution, or as otherwise
required by law, ten days notice shall 10
given by mailing to each stakeholder who |
appears as such on the books OF this com |
pany, at his last designated address. or at |
the general delivery at New Orleans IL he
has not designated an address, an announce
ment stating the time and the place Of the |
meeting. Each shareholder shall be elti.
tied TO one vote for each share OF stock
In his name on the books of the
company, cast In person or by proxy, and
the majority OF the votes cast shall elect |
The board OF directors shall have power to
NIL all vacancies that may occur on the |
board. Failure to elect directors on the /
day above specified shall not dissolve the
but the directors then in Office |
shall remain in office until their successors
shall forthwith be given. as above pro
vided Such notice OF election shall be CON |
tinued TO be given until an election Is held. /
A majority of the directors shall constitute
a quorum for the transaction OF any bust |
ness and the board Of directors at their first |
meeting following each annual election shs IL |
elect from their number a president. a vice |
general manager and from the |
a OBSERVATION-DISCLOSURES and such |
other officers the board shall deem nee. |
essary. The board shall have the power |
In its discretion to unite two or more Of
the above or other offices. and the same to |
CONFER upon one person, and shall have the |
power TO fix the salaries OF all officers and
OF such other officer as they deem necessary |
The board OF directors shall have power to |
make and establish, as we'll as alter and
amend, all bylaws, rules and regulations
necessary and proper for the support and
Of the business and affairs of
said corporation, not inconsistent with its
charter. Said board shall also have full
through the president or some other duly
authorized agent or agents, to execute mort
cages, issue notes, bonds or other obliga.
lions, In such amounts and on such terms
and generally TO do all things reasonably
necessary for the proper carrying on OF
the business of said corporation as also
to Issue and deliver full paid shares of
stock and bonds or obligations OF said cor |
poration in payment of the money borrowed
or money, labor. services property or rights
actually received by said corporation, as
heretofore set forth.
And the board OF directors shall have the
power to purchase for stock in this com |
pany or for cash or on credit property OF |
any kind required for any of the purposes
Of the corporation, without the authority
Of the shareholders.
Until the next meeting to be held under |
the charter on the first legal day Of Octo. |
Der, 1911. or until their duly qualified sue
cessors are elected and Installed, the board
81 directors shall be composed OF James w. |
Porch, George III. Smith, W. ]. Kelleher, |
.. A. Kelley and A. F. Barclay; with James
W. Porch as president and general manager. |
ieorge ii. Smith as vice-president and w. |
ID. Wfdener as secretary treasurer The
board may elect such other officers or agents
Is ii deems advisable.
ARTICLE VI.
Whenever this corporation shall be dis
solved, either by limitation or from any
'ther cause, its affairs shall be liquidated |
~ three stockholders to be appointed at
General meeting of stockholders convened
or the purpose Of LIQUIDATION as herein
lfter provided, each share being entitled to
me vote, to be cast by the holder, either in
person or by proxy. Said commissioners
hall remain in Office until the affairs of