The Caucasian. (Shreveport, La.) 1900-192?, 1913-03-18
CHARTER
OF the Oil City Development Com
pany.

rotary public in and for the Parish
and State above written, duly COM
missioned, qualified and acting as
such, personally came and appeared
the several persons whose names
are subscribed hereto, and who de-
clared that they do by these pres
ents constitute and form themselves
into a body polite or corporation,
as we'll as such other persons as
NAV become associated with them,
under the laws of the State OF
Louisiana, in terms and conditions
as follows, tO-wit:
ARTICLE I.
The name of this corporation
shall be The Oil City Development
Company. It's domicile shall be at
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 pc
Rod of ninety-nine years.
ARTICLE II.
Under its corporate name 1t shall
have power to contract, sue and be
sued; to make and use a corporate
seal; to hold, receive, purchase,
convey, mortgage, pledge and ny
pothecate 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 snail
have all such other and further
bowers 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
Dany is formed are to buy, hold,
own, mortgage, sell and deliver
property, immovable and movable;
o develop, drill and lease property
or oil or gas purposes; to market
oil and gas, and to build, acquire
md operate such pipe lines, tanks,
.ank cars and other appliances as
may be deemed necessary thereto.
ARTICLE ".
The capital stock is fixed at fifty
thousand and ne-iO0 dollars, divided
nto five hundred shares of one hun
,lred dollars each. No stock shall be
issued until fully paid for; no trans
Ter of stock shall be binding on the
corporation until transferred on the
cooks of the company. Stock sub
scriptions may be paid for in cash,
;ervice or property, provided the
service and property be placed at a
value fixed by the board OF direc-
,ors. This corporation shall COM
.nence doing business when five
thousand (S5,0O0.OO) dollars OF stock
had been subscribed and paid for.
ARTICLE v.
The corporate powers OF this cor
pOratiOn shall be vested in and its
lffairs shall be managed by board
Of directors, three in number, to be
elected by ballot by the stockhold-
ers at a 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. Carter, who shall be president;
w. P. Parks, who shall be vice pres
dent; and l. C. MCGEE, who shall be
secretary-treasurer. The officers
shall be elected viva vOce at meet
ng of the directors called for thai
purpose. Vacancies on the boarf
nay be filled for the unexpired term
by the remaining directors; boar,
members may by written proxy ac
for each other at board meetings
The board of directors may empIo,
ageneral manager and such othel
agents as the interests of the COM
pany may require, and discharg'
them at pleasure; each directo
shall own at least one share of stool
in the corporation. Three director
shall constitute quorum Of tn
board for the transaction of busl
ness, who shall attend in person o
by writer proxy. The board Of di
rectors may be increased Or de
!, | creased at the will of the stOckhOld
ers as evidenced by vote of three
j fourths of the stock at meetin
called for that purpose.