The herald., 1912-09-05
CHARTER

/ ia n.
OF LOUISIANA. PARISH OF ORLEANS
! CITY OF NEW ORLEANS.
! Il" lt known, that on this "2nd ,iay If
august, IN the yea" ~ our Lord. one thou
sand nine hundred and twelve before me.
| herman Michel. notary public. duly com
| misSluurd and qualified, iu and for the
| parish ~ Orleans. State Of Louisiana there
! IN residing. and IN the presence Of the Wit
/ neS>cs hereinafter named and undersigned
| personally came and appeared the. several
! persons who's" names are hrrpuUtp sub
/ SrrhGd Who Severally declared, that avail
/ ING lheuSe.Fer of ia" privileges Of tho laws
and statutes Of the state OF Louisiana r,Ia-
| tive 20 the formation OF CORPORA lions and
/ PARTICULARLY " act No. = II tho session af
/ the General Assembly Of the state OF Lou
/ iSiana Of 1904 they have coyculntcd and
agreed, and by these presents do covenant
and agree. and bind and ohIigatr themselves
/ aS well as all such persons as NAV hereafter
| become associated with them. To form and
| constitute body corporate and polite IN
/ law, for the objects and purposes and under
] the Sttpua,iuns and provisions following, to-
wit:
ARTICLE l.
The name and title Of this corporation
shall be the Bayou Cane oil Company. and
under that name Il shall have and enjoy
| all the rights, privileges and advantages
granted by law 10 corporations, and shall
have the right power and authority to en-.
! JOY succession and corporate existence for
and during the full period Of nnety-nine
years from this date, unless sooner dissolved
in the manner hereinafter provided for.
said corporation shall have the power and
authority to contract; TO sue and 70 be
sued to make and use Il corporate seal and
the same 10 break, alter or amend at pleas
ure, to hold. receive. purchase convey de-
| ilVer mortgage, hypothccatc. and pledge any
real or personal property, and to issue notes
ana other obligations, negotiable instru-
mentS, or other evidences of debt; TO have
and employ such managers, agents and 9TH
or employees as the interest and convenience
of said corporation may require or demand.
and TO make and establish such bylaws
rules and regulations for the corporate man
agement and control OF its affairs as from
time 10 time may be deemed eXpedint or
necessary.
ARTICLE H.
The domicile Of this corporation shall he
| In the city of New Orleans, parish Of Or
leans state Of Louisiana, and all citations
and other legal process shall be served upon
the president, and in his absence upon the
vlce-presldent, and In the absence Of both,
| upon the Secretary-treaSurer.
ARTICLE Ill
Inc objects and purposes for which this
corporation Is created are hereby declared
| 10 De 10 bore Tor oil, petroleum, gas, salt or
any other mineral or earthen products; to
establish, build and construct pipe lines and
| other means for the transportation Of such
products TO the market TO buy sell and
otherwise generally deal in said oil, petro-
| leum, gas, salt and other mineral products
| TO buy, sell, lease, mortgage, hypOthecate
ana otherwise acquire or ALLEVIATE real and
| personal property Of every description what
Soeyer, and generally to do every and any
| thing not herein specially enumerate and
not inconsistent with the other objects and
| purposes herein set forth.
ARTICLE Nv.
The capital stock of this corporation Is
| hereby fixed at the sum of fifty thousand
| (S5O.OOO.O0) dollars, divided into, and rep
resented by i've thousand @ O0O) shares of
I the par value of ten $4,000 dollars each
said shares Of stock shall be issued only at
| par, and when issued shall be paid for in
cash or property, or in the equivalent there
nf CT elr slaIl h.,
! full paid and worcestershire, and no trans
| fer of said stock shall he binding on said
corporation unless recorded on its books.
No holder of stock in this corporation
| shall sell his stock to any person until he
| has first offered ii to the board of directors
| or said corporation at its then book value
and II shall be optional for this corporation
to refuse to recognize any transfer OF stock
made In violation of this provision.
ms corporation shall be going con-
Germ as soon as three thousand (S3, O0O.OO)
| dollars OF its capital stock shall have been
subscribed and paid for as heerlnabove pro-
vided.
ARTICLE V.
All the powers OF this corporation shall
be vested In, and the anagement and con-
troll of its affairs shall be exercised by a
board or directors to be composed OF five
stockholders, any three Of whom shall CON
Stitnte a quorum for the transaction of the
business of this corporation.
The first board OF directors shall be CON-
posed OF j. L: Landry, Il. p. Brady, o. w.
tihNlblu, - W. E1lSeIid0 ana Albert BhpniS.
The officers OF said first board OF directors
shall be j. II. landry, president II. L.
Brady, Vlce-president, and e. w. Eiseman,
and the said board of
directors and said officers shall serve and
remain in office until the first Monday in
September, 1913, on which day, and annu-
ally thereafter. the board of directors shall
be elected by the stockholders at a meeting
called for that purpose All directors and
officers shall hold office until their success
sors are elected and qualified, and any fail
ure to elect directors shall not be regarded
as forfeiture of this charter
In the election of directors, each stock
holder shall be entitled to one vote for each
share OF stock held by him, which must be
cast either in person or by duly authorized
proxy and the majority of the votes cast
shall elect. Any vacancy occurring In the
board OF directors may be filed by the re-
naming directors for the unexpired term.
At the first meeting of the board of direc-
tors after their election, and qualification.
they shall elect from among their number n
president, vice-presldent and a secretary
treasurer.
ARTICLE VI.
All meetings of the stockholders shall be
called by written notice mailed TO the last
known address of each stakeholder not less
than thirty days before the date Fixed for
such meeting, unless said notice has been
waived in writing by the stockholders.
ARTICLE VII.
This act OF Incorporation may be amend
ed modified, changed or altered. or this
corporation may be dissolved with the as
sent OF the stockholders holding and owning
three-fourths OF the capital stock thereof.
who may be present or represented at a
general meeting OF the stockholders con.
vened Tor that purpose, and of which due
notice has been given
whenever this corporation shall be dis
solved, either by limitation or from any
other cause, Its affairs shall be IiquIdated
by three 81 commissioners to be appointed
for that purpose from among the stock
holders, at meeting Of the stockholders
convened for that purpose; said commits.
sionerS shall remain In Office until the az
fairs or said corporation shall be fully and
finally liquldated. Any vacancy occurring
among the iquidators from any cause what
soeevr, shall be filled by the remaining
commissioners.
ARTICLE VIII.
No stakeholder shall ever be liable or re-
sponsible for the contracts or faults Of this
corporation In any further sum than the
unpaid balance due by him on the shares
OF stock subscribed TO or owned by him
ganiZation Of this corporation have the eff
feet Of rendering this charter null, or OF ex-
posing the stockholders TO any further Ia
bility than the unpaid amount which may
be due on his stock subscription.
The list OF subscribers hereto annexed
shall serve as the original subscription list
of this corporation.
Thus done and passed In my notarial Of
flee In the city Of New Orleans, I'm the pres
ence Of Messrs Paul FOrtier and John L.
COrcoran, competent witnesses, of lawful
age and residents Of this city and parish,
who have hereuntO subscribed their names,
| together with the said appearers and me,
notary, after due reading OF the whole.
4 h.N.w