The herald. [volume] (New Orleans, La.) 1905-1953, 1912-10-03
CHARTER
OF LOUISIANA INTERSTATE MINERAL
COMPANY.


Be il known. that on this nineteenth DAY
Of the month OF September. in the year Of
our Lord one thousand nine hundred and
twelve and Of the independence Of the Unit
"a States Of America. the one hundred ana
thirty seventh. before NE. Augustus g. VII
Iiams a notary public. in and for the par
iSh Of Orleans. state Of Louisiana. duly com
miSSiOned and qualified, and in the presence
Of the witnesses hereinafter named ana IN
darSigned personally came and appeared the
several persons whose names are hereunto
subscribed. all Of lawful age. who severally
declared that ayailing themselves OF the
laws OF the state of Louisiana. and eSp+-c-
tally Of act IS Of 1904. in such case made
and provided. they have agreed to and do
hereby form themselves into and constitute
themselves a corporation. and do. by the
articles 81 Incorporation hereinafter set oui,
agree and bind themselves. well as all
such persons as may hereafter become asso-
ciated with them. To form and constitute a
corporation for the objects and purposes ana
under the stipulatlOEs hereinafter set forth,
ARTICLE l.
The name Of this corporation shall be
Louisiana Interstate Mineral Company.
and hy that name il shall I've known and
shall enjoy corporate succession and exist
ence for the term Of ninety-nine years from
and after the date hereof. unless sooner dis
solved. As such corporation IL shall nave
power TO sue and be sued 10 make and use
a corporate seal 10 enter into any contract
TO borrow money, purchase. own, lease sen
and otherwise deal in real and personal prop
erty: 20 have and employ Such directors
officers managers, agents and other en-
UIoyees as the business interest and conNe-
nience OF the said corporation may require:
to execute bonds. notes and other oplSa-
tions and to secure the same by mortgage
or otherwise: to make and establish such
bylaws. rules and regulations for the cor
porate engagement and control OF the al
fairs of the corporation as may De necessary
ARTICLE III.
The dOmicie of this corporation shan be
in the CITY of New Orleans. state OF Lou
isiana. and all citation or other legal pro
cess shall be served upon the president, ana
in the event of his absence or inability TO
act from any cause, upon the secretary OF
this corporation.
ARTICLE III.
The objects and purposes for which this
corporation Is organized and the nature of
the business TO be carried on NY II are here
by declared 10 be as follows:
To purchase, own: hold. sell mortgage
lease ALLEVIATE receive and otherwise &C
1uire dispose Of or deal in real estate. in
Guiding oil, gas. asphaltum, petroleum. coal
iron. gold. silver copper, and lead proper
ties: 10 deal in mineral lands OF every De
scriptiOn: TO build and operate manufacto-
ries for the production and sale OF lime. &C.
ment fertilizer, stone. marble. brick: emma
and glass: TO mine and smelt all kinds OF
minerals: TO buy, sell. erect. own. tease or
otherwise acquire and operate drilling out
fits and machinery. appliances, apparatus
and buildings suitable for use in the extrac-
ton Of oil or any minerals from Inc eartn,
and for the housing. preservation, hanuhhs
and TRANSFORMATION of same when 50 extract
ed 4: to buy sell or otherwise acquire ana
ALLEVIATE and to ship, export or import OIL.
minerals or mineral products or every de
scription and in connection with said Cd
iects to lease. buy. sell. build or otherwise
acquire and ALLEVIATE and maintain ware
houses sheds. dwellings. stOrehouses and re
nair shoDS 10 do a general real estate and
mercantile business TO buy. sell. own. and
otherwise deal in the stock Of other coTpor-
ations to buy and sell timber, timber lands
and wood products generally as well as To
manufacture same: 10 OVID. lease and oper-
ate saw mills pull boats. skidders, and other
machinery for handling logs: 10 do gen
eral saw mill and logging business; TO build
dry-dOeks and ways. 10 charter lease, own
and operate railroads. railways. trans and
tramvays: to build. own. and operate SHIPS
tugs. launches. barges and other vessels Tor
the transportation OF freight for hire; 10
lease. build and operate dredges: 10 dig ca
mails for TRANSFORMATION and reclamation pur
poses: TO construct. own. maintain and OPP
crate telephone and telegraph lines with all
necessary equipment: TO build own; main
tain and operate electric plants and gener-
ally to deal in the electric light and power
business: 10 build and maintain wharves.
pipe lines and machine shops: to own and
control letters patent and Inventions toI
build. own and operate hotels and other i'm
proved realty and generally to do all and
everything necessary. suitable or proper for
the accomplishment of any Of the purposes
hereinbefore enumerated or which shall. at
any time. appear for the benefit of the cor
poration. capable of being carried on In con-
nection with the above powers. or calculated
directly or Indirectly TO enhance the value ,
OF or render profitable any of the corporate |
property or rights.
ARTICLE ".
The amount OF the capital stock of this |
corporation Is hereby fixed at the sum
OF three million dollars $50 600 OOO. O0D. |
Hhich shall be divided into common and |
ferred stock. OF the common stock there |
ii be ten thousand shares. of the par |
Hue Of one hundred dollars (s1O0.0Ol |
zach: and Of the preferred there shall be |
twenty thousand shares Of the par value Of |
one hundred dollars (s1O0O0l each. The |
said two million dollars $4,000, 600 O0) OF
preferred stock shall he entitled to receive /
dividends At the rate of seven per cent (Tc5D !
per annum- payable annually on the first |
day of September Of each year. out of the /
earnings Of the corporation before any div |
idend shall be paid upon the said common |
stock. aud such dividends shall be cumula- 1
tive 80 that any deficiency in the dividends
10 be paid on said preferred stock in any |
year shall be made good out Of the earnings /
of subsequent years before any dividend |
shall he paid upon the said common stock /
And in case there shall remain a surplus |
after paying the said dividend on the pre-
ferred stock. the said surplus. wholly or in 1
part. as the directors may deem advisable /
shall be paid TO the holders of the common /
stock. On the final liquidation OF the cor
poratIon all arrears OF dividends, II any. |
shall Be paid TO the holders of the preferred /
stock. and the preferred stock shall be paid
in full before any payment shall be made TO /
the holders Of the common stock but when i
such arrears OF dividends and the face value
of the preferred stock shall have been paid /
the holders thereof shall receive no other
or additional payments whatever: hut the
balance Of the assets OF the corporation
shall belong entirely 10 the holders Of the
stock.
The preferred and common stock OF this
services rendered. or property actually re-
ceived by the corporation and when issued
shall he fully paid and worcestershire. When
ever shares Of stock are paid for in services
rendered or property received the said ser
vices or property must have value equiya-
lent 10 the face value of the stock issued for
hem.
Each share OF common stock issued by
his corporation shall he entitled TO one vote
whenever voting Is necessary for any pur-
lose. The preferred stock shall have no vot-
ne power at all. the entire management of I
he corporation Is hereby vested in the own {
rs Of the common stock. I
No transfer Of stock will be recognized BY {
he corporation unless II be made on the {
ooks OF the CORPORATION by the owner in I
n certificates of stock shall be signed BY {
nch officers as may be designated by the
oard Of directors.
ARTICLE V. h
All the corporate powers Of this corpor L
lion shall be vested in a board Of directors. $
imposed OF seven stockholders five Of whom o
,all constitute a quorum for the transac- s
on OF al business These directors shall N
elected at the annual meeting Of the d