The Caucasian. (Shreveport, La.) 1900-192?, 1913-03-25
CHARTER
0f the Oil City Development Com
panS.

II State Of Louisiana, Parish Of Gao
do: Before me. Roland Williamson,
notary public in and for the Paris
and State above written, duly com
missioned, qualified and acting a
such, personally came and appeare
the several persons whose name
are subscribed hereto, and who de
clared that they do by these pres
j ents constitute and form thcmsCNC
into a body polite or corporation
as we'll as such other persons a;
may become associated with them
under the laws of the state 0
| Louisiana. in terms and condition:
as follows, tO-Wlt:
| ARTICLE /.
The name Of this corporation
shall be The Oil City development;
Company. It's dOmiciIe shall be al
Shreveport, Caddo Parish, State OF
| Louisiana. Citation and other legal
process shall be served on its pres
| ident, or, in his absence, on The
vice president or in his absence on
such persons as may be designated
by law 1t shall enjoy succession
under its corporate name for a pc
riOd of ninety-nlne years.
ARTICLE II.
Under IFS corporate name it shalt
have power to contract, sue and be
sued; to make and use corporate
seal; to hold, receive, purchase,
convey, mortgage, pledge and by
Lpothecate all kinds of property; to
name and appoint such managers,
directors and officers as its interests
and convenience may require; to
make and establish such bylaws
and rules for the proper regulation
of its affairs as may be deemed re-
quisite and necessary, and shall
have, all such other and further
powers as are now or may hereafter
be conferred by law on corporations
or associations of the same or sim
liar kind.
ARTICLE III.
The purposes for which this COM
pany is formed are to buy, hold,
own, mortgage, sell and deliver
property, innnovable and movable
20 develop, drill and lease propert.
for oil or gas purposes; to market
oil and gas, and to bulid, acquire
and operate such pipe lines, tanks
tank ears and other appliances as
may be, deemed necessary thereto.
4 - ARTICLE ".
The capital stock is fixed at fifty
Thousand and nO-i0O dollars, divided
milo five hundred shares Of one hun
dred dollars each. No stock Shall be
issued until fully paid for; no trans
fer Of stock shall be binding on The
until transferred on the
books of the company. Stock sub
scriptions may be paid for in cash,
service or property, provided the
service and property be placed at q
value fixed by the hoard of direc-
tors. This corporation shall COM
mence doing business when five
thousand {s5,9G000) dollars of stock
had been subscribed and paid for.
ARTICLE V.
The corporate powers of this cor
poration shall be vested in and It's
affairs shah be managed by board
of directors, three in number, 10 be
elected by ballot by the stockhold-
ers at meeting to be held at the
domicile of the company on the sec
ond Tuesday of November of each
year, beginning in 1913. Until such
election, the following shall COM
pose. the first board of directors: W.
L. Garter, who shall be president; |
w. p Parks, who shall be vice pres |
ident: and C. McGee, who shall be
OBSERVATION-DISCLOSURES. The officers
shall be elected viva voce at meet
ing Of the directors called for that
purpose. Vacancies on the board
may be filled for the uneXpired term
by the, remaining directors; board
members may by written proxy act
for each other at board meetings.
The board of directors may employ |
ageneral manager and such other
agents as the interests of the COM
pany may require, and discharge
them at pleasure; each director
shall own at least one share of stock |
in the corporation. Three directors
shall constitute a quorum of the
board for the transaction of bust
ness, who shall attend in person orl
by written proxy. The board of di-
recters may be increased or de
creased at the will of 'the stockhold-
ers as evidenced by vote of three
fOurthS IF fbfs StOck AT a nonatiuc