The Caucasian. (Shreveport, La.) 1900-192?, 1912-12-22
CHARTER
OF The Caddo Rock Drill Bit Con,
paHy.

SI&p VI LUulSfdud, dl ASA Va ooN-
10: Be it remembered that on this
the 10th day of November A. ID.
1912 before me, T. F. Bell Jr., no
tasy public in and for the Parish Of
eaddo and State of Louisiana, duly
commissioned and qualified, person
ally same and appeSed the sewers
persons whose names are hereunso
subscribed, who declared that avail
inc themselves of the laws Of the
State of Louisiana in such cases
made and provided, they by these
presents do constitute and form
themselves, as we'll as such other
persons as may be associated with
them, into a corporation and body
pdfgtic in law, for the business and
purposes as described and set forth
herein, and under the following ar
ttGes of incorporation:
ARTICLE I.
The name and title of this cor
peration shall be: The Cadd0 Rock
Drill Bit Company. It's place of DOM
ieile shall be the City of Shreveport,
Caddo Parish. La. It shall have and
enjoy succession for period of
fifty years from date Of this act, I'M
less terminated sooner for causes
other than that of limitation. NJ
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. IL
shall have power to make and use a
corporate seal. Under its corporate
name it shall sue and tie sued plead
and be implicated: appear, answer
and prosecute in all courts Of JUS
lice. 1t shall have power to manu-
faeture, 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 stoues. 1t shall have power IL
own and hold real and personal
property, and to sell and dispose OF
samas to contract and otherwise to
exercise all powers which are moi
prOhibitive under the laws of the
State of louisiana to such corpora
tions. =. &fz
ARTICLE II.
The authorized capital stock OF
this corporation is hereby fixed al
ten thousand dollars, divided into
- one hundred shares of the par value
Of one hundred dollars. 1t shall be
authorized to commence business
and shall be going concern when
ever the sum of five thousand dol
lars or more of. its capital stock
shall have been subscribed for. The
.eapital stock noy be issued for
essh or its equivalent i,Nreal or per-
sonal property or for labor or SER
vices performed, as may. be ap-
proved by the board of directors
An 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
fling of this charter, and the re-
nAinder on the Call of the board of
directors. The shares of stock OF
this corporation shall be transfer
| able only on the books of this COM
pany, and no transfer shall be bind
ing on this corporation until the
same shall have been entered on its
hooks. No stock of this corporation
shall be sold by any holder thereof
in the open market except after ten
days prior notice of intention to sell
has been given the company, during
which time the other stockholders
shall have the privilege of purchas-
ing the same, and this clause shall
be printed On the face of each GER
ifficate of stock issued by the COM
psny.
ARTICLE III.
The corporate powers of this as
ISOLATION shall be vested in and ex-
ercised by board of directors, con-
sisting of seven of its stockholders,
four of HON shall constitute quo
rum. The first board of directors is
hereby declared to be: ]. L. Kimbell
j. NJ. Robinson, ]. C. Willis, w. l.
Young, G. A. Humason, C. F. Brown.
J. w. Prescott. OF this board w. L..
Young shall be president; G. A. HUI
mason, vice president; G. +. Brown,
secretary, and j. C. Willis, treasur-
er. The said officers and directors
shall hold office as such until their
successors shall have been elected
and qualified. All subsequent boards
Of directors shall be elected by the
stockholders on the second Tuesday
OF November of each year. All suci,
boards of directors shall have tffe