The Caucasian. (Shreveport, La.) 1900-192?, 1912-12-29
CHARTER
OF the Caddo Rock Drill Bit Com
pany.

State Of Louisiana, Parish of Cad
do: Be it remembered that on this
the 10th day Of November A. d.
1912 before me. T. r. Bell Jr., no.
tzsr public in and for the Parish Of
caddo and State Of Louisiana, duty
commissioned and qualified. person
ally came and appeared the scvera!
Befsops whose names are hereunto
subscribed, who declared that avail
ing themselves of the laws Of the
state Of Louisiana in such cases
made and provided, they by these
nxesents do constitute and form
themselves, as we'll as such other
persons as may be associated with
them, into corporation and body
polite in law. for the business and
purposes as described and set forth
herein, and under the following ar
Gc1es of incorporation:
ARTICLE /.
The name and title of this cor
poratlon shall be: The Caddo Rock
Drill Bit Company. Its place Of DOM
icile shall be- the City Of Shreveport,
Caddo Parish, La. 1t shall have and
enjoy succession for a period OF
fifty years from date Of this act, un-
less terminated sooner for causes
other than that of limitation. Al
citations or other legal processes
shall be served on the president, Or
in his absence on the vice president
or secretary in the order named. II
shall have power to make and Use a
corporate seal. Under its corporate
name ii shall sue and he sued plead
and be impleadad: appear, answer
and prosecute in all courts Of JUS
tice. It shah have power to manu-
facture, buy, lease and sell all kinds
Of machinery, particularly thai
class of machinery which is used IN
drilling wells for oil and gas and
water; and more especially drilling
bits used for drilling through rocks
and stones. 1t shall have power to
own and hold real and peGooLal
properly, and to sell and dispose OF
same; TO contract and otherwise 20
exercise all powers which are not
prohibitim under the laws of the
State OF Louisiana TO such corpora
tions.
ARTICLE 1T.
The authorized capital stock OF
this corporation is hereby fixed at
ten thousand dollars, divided into
eHe hundred shares of the par value
of che hundred dollars. 1t shall be
authorized TO commence business
and shall be a going concern when
ever the surn of five thousand dol
lars Or more of its capital stock
shall have been subscribed for. The
capital stock may be issued Tor
cash CT its equivalent in real Or per-
sonal property or for labor or SER
vices performed, as may be ap-
proved by the board of directors.
All capital stock subscribed for
shall be paid for in the following
manner and time: Fifty per cent or
more shall be paid for in cash or in
property or services Or labor per
formed within thirty days after the
filing OF Shis charter, and the re-
mainder on the call of The board Of
directors. The shares Of stock OF
this corporal ton shall be transfer
able only 'oB the books Of this COM
pany, and he transfer shall be bind
ing on this corporation until the
same shail have been entered OH its
books. No stock of this corporation
sLall be sold by any helder thereof
in the open market except after ten
days prior notice Of intention to sell
has been given tine company, during
which time the ether stockholders
shalt have the privilege of purchas-
ing the same, and this clause shall
be printed on the face OF each Ger
tifacate of stock issued by the COM |
pany.
ARTICLE III.
The corporate powers of this az
sOciation shall be vested in and ex- !
cfeised by board of directors. con-
sisting of seven of it's stockholders.
four of HON shall constitute quo.
rum. The first board of directors is
hereby declared to be: J. l.. kimbeli
]. M. Robinson. J. c.. Willis, w. l.
Young, G. A. Humason, G. F. Brown
]. w. Prescott. OF this board w. l..
Young shall be president; 6. y. HUI
mason, vice president; C. F. Brown, ,
'ecretary, and J. C. Willis, treasur-
II. The said officers and directors
'hall hold Office as such until their .
successors shall have been elected ;
nd qualified. All subsequent boards ;
# directors shall be elected by the {
on the second Tuesday ,
4 Nopefnher of each wear All such