The Caucasian. (Shreveport, La.) 1900-192?, 1913-03-11
CHARTER
Of the Oil City Development Com.
pany.

DO: Before me, Roland Williamson, 4
rotary public in and for the Parish
and State above written, duly COM
mlSSlOned, 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
may 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. Its 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 a pc
riod of ninety-nine years.
ARTICLE II.
Under its corporate name it shall
have power to contract, sue and be
sued; to make and use a corporate
seal; to hold, receive, purchase,
convey, mortgage, pledge and hy-
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 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, immovable and movable;
to develop, drill and lease property
for oil or gas purposes; to market
oil and gas, and to build, acquire
and operate such pipe lines, tanks,
tank cars and other appliances as
may be deemed necessary thereto.
ARTICLE w.
The capital stock is fixed at fifty
thousand and no-1O0 dollars, divided
into 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
corporation 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 a
value fixed by the board of direc-
tors. This corporation shall COM
mence doing business when five
thousand (s5,OOO.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
affairs shall be managed by a 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
ident; and l. C. MCGEE, who shall be
secretary-treasurer. 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 Of
by written proxy. The board OF di-
rectors may be increased or de-
creased at the will of the stockhold-
ORG as evidenced by vote of three