The Caucasian. (Shreveport, La.) 1900-192?, 1913-03-04
CHARTER
or the Oil City Development COM
pany.

State of Louisiana, Parish of Cad
do: Before me, Roland Williamson, a
notary public in and for the Parish
and State above written, duly COM
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 well as such other persons as
may become associated with them,
under the laws of the State Of
in terms and conditions
as follows, tO-wit:2
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 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 corporate
seal; to hold, receive, purchase,
convey, mortgage, pledge and hy-
pothecate all kinds Of property; to
name end appoint such managers,
directors and officers as its interests
and convenience may require; to
make anG 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, ilnunovuLlc 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 Nv.
The capital stock is fixed at fifty
thousand and no-1OO 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 she board of direc-
tors. This corporation shall CON-
mence doing business when five
thousand s5,OOOOO) dollars of stock
had been subscribed and paid for.
ARTICLE v.
The corporate powers OF this cor
pOrati0n shall be vested in and 1t:
affairs shall be managed by board
of directors, three in number, to b.
elected by ballot by the stockhold.
ers at meeting to be held at thu
domicile of the company on the sec.
ond Tuesday of November of eaci
year, beginning in 1913. Until suci
election, the following shall com
pose the first board of directors: w
L. Carter, who shall be president
wv. P. Parks, who shall be vice pres.
ident; and l. C. MCGEE, who shall b.
secretary-treasurer. The officer
shall be elected viva v0ce at meet
ing of the directors called for tina
purpose. Vacancies on the boar
may be filed for the unexpired tern
by the remaining directors; boar
members may by written proxy &C
for each other at board meeting'
THE board of directors may emplO
ageneral manager and such othe
|agents as the interests Of the com
pany may require, and discharg
them at pleasure; each directo
|shall own at least one share Of stoc
in the corporation. Three director
Ishall constitute quorum OF tn
board for the transaction Of bust
ness, who shall attend in person q
Iby written proxy. The board Of di
rectors may be increased or de
Icreased at the will Of the stockhold
lers as evidenced by vote Of three
fo,trfho of tho sfOck nj a mpptiD