The herald. [volume] (New Orleans, La.) 1905-1953, 1913-06-26
CHARTER OF THE BALKAN OIL COM
PANN.


CHARTER OF THE BALKAN OIL COM,
UNITED STATES Of AMERICA, STATE
OF LOUISIANA PARISH OF OR
i LEANS, CITY OF NEW ORLEANS.
, BE it known, that on this sixteenth day
lOf the month OF May, in the year one thou
sand nine hundred and thirteen, before me,
Robert Legier a notary public, duly COM
missioncd and qualified in and for the par
iSh of Orleans, state of Louisiana, aforesaid.
therein residing and in the presence OF the
witnesses hereinafter named and under
signed, personally came and appeared: the
persons whose names are hereunto subScrib-
ed, who declared that, availinS themselves
of the provisions of the laws of the state Of
Louisiana, in such cases made and provided,
relative to the organization OF corporations,
they have covenanted and agreed. and do,
Iby these presents, covenant agree, bind,
form and constitute themselves, well as
such other persons as may hereafter join or
become associated with them, into a corpora
tion and body polite in law, for the objects
and purposes, and under the agreements and
stipulatiOns following. tO-wit:
Il ARTICLE 1.-The name and style OF this
corporation shall be the BALKAN OIL
! COMPANY" and under that name ii shall
have and enjoy all the rights advantages
and privileges granted by law 10 corpora
tons IL shall exist for a period OF ninety
nine years from the date hereof; 1t shall
have power and authority TO contract, sue
and be sued in its corporate name; TO make
and use corporate seal, and the same to
| purchase. convey, mortgage, hypothecate
and pledge property, real, personal or mix
ed: TO issue bonds, notes and other Obliga-
| tiOnS to have and employ such managers,
directors. officers, agents and other employ
eeS the interest and convenience of said
corporation may require or demand: and to
make and establish such bylaws. rules and
regulations for the corporate management
and control of the business and affairs Of
the corporation as may be deemed necessary
! or eNpedient
7
pOration shall he In the city Of New Or
leans. state Of Louisiana. and all citations
and other legal process shall be served on
| the president, and In his absence on the vice
the absence of both Of said officers then
said process shall be served on the secretary
| treasurer.
ARTICLE III.-The objects and purposes
for which this corporation Is organized and
the nature of the business to be carried on
| by 1t are declared to be to buy, sell. lease,
| hire, mortgage or otherwise hypothecate
ALLEVIATE or cucumber oil, timber and other
lands, and improve the same, in this and
other states; TO dig and bore or contract for
the. digging and boring Of oil, water, ar
tesian and other wells: to build and erect
or contract for the construction and erec-
| ton OF derricks; to refine, buy and sell for
| its own account, or for the account OF other,
oil, petroleum, minerals and all their by
products, in both their crude and refined
states; TO buy, sell, lease, hire, mortgage
erect and construct, or contract for the
construction ana erection OF mills, re1npr-
les, pipe lines, tenements, water craft tram
ways, railroads, canals workshops and me-
chanical plants, and generally, to do and
engage In anv other business, undertaking
or enterprise connected with, growing out
of, germane or incidental to any of the OBJ
jects and purposes herelnabove set forth or
contemplated by this charter.
l ARTICLE lV.-The capital stock OF this
corporation is hereby fixed at the sum Of
ten thousand $4,000 .OO) dollars, divided
into ten thousand (10,O00l shares of the
par value OF one $1,000 dollar, each, which
shall be paid for In cash on the call Of the
board OF directors or may be issued for not
less than par for property purchased by or
services actually rendered to said corpo-
ration.
; All shares OF stock shall be full paid and
worcestershire. No transfer of stock shall
be binding upon the corporation unless made
upon its books, and all certificates of stock
shall be signed by such officers as may be
designated by the board Of directors.
) ARTICLE V.-All the corporate powers
of this company shall be vested in and the
management and control Of its business and
affairs shall be exercised by a board Of d.
rectors to be composed of five stockholders
majority OF whom shall constitute a quo
rum for the transaction of all business The
board of directors shall be elected annually,
by ballot of the stockholders, on the first
Monday of July Of each year. Each stock
holder shall be entitled to one vote for each
share OF stock owned by him, either In per-
son or by written proxy. All elections
shall be held under such rules and regula-
tons as may be determined by the board of
| directors, but after at least ten days' no.
tlce OF such election shall have been given
TO each stakeholder by mail sent to his last
known address, or by publication In one of
Inc daily newspapers published in the Eng
fish language in the city of New Orleans.
Tor at least ten days preceding such cleo,
ton. The directors thus elected shall CON
Ilhue IN once for one year, or until their
successors shall have been elected and duly
qualified. No failure to elect shall no re
garded as forfeiture Of this charter. Any
vacancy occurring on said board of directors
sh haii De nlied by the remaining directors for
me uneXplred term. Said board of djrec-
| TORS snail, at Its first meeting after ITS cleo
tlon, elect from among its number n nresi
ueht, vice-president, secretary and a
| treasurer II may combine the two last
| mentioned Offices into one and NAV aven
elect secretary who need not be a stock
tpa said board Of directors shall have
tne right ana power to appoint and dismiss
such clerks, managers and other emniorass
oI the corporation, including the secrefary
VINO Is not a stakeholder or director "a
orO ms may justify or the business Of the
| ssolPoTatnn may require. The tenure OF Of
nee OF all the employees ot the corporation
SuaI De during the pleasure Of the board of
ARTICLE Who stockho,da- sbo,,
De held liable or responsible for the con.
tracts, faults or debts of this corporatjon
not NOT snail any mere informallty in its organ,
charter null, or OF exposing a stockhoidar .H 10
any liability beyond the unpaid balance dne
on the shares OF stock owned by him. O0e
ARTICLE VII.-This act of incorporation
may be changed. modified or altered. or this
corporation may be dissolved with m. sc.
sent or the stockholders owning a ma iorItv
OF all the stock Of the corporation at gen.
eral meeting convened for that purpose az.
ter notice shall have been given to each
stoekholder In the manner and form as pre-
scribed In Article V of this act OF incorno
ration. In case Of the dissolution OF this
corporation by the expiration of this char.
ter or otherwise, the stockholders shall
elect three liguidators from among their
number. who shall have full power and an.
thority to settle the business and atrairs OF
tne company. In case Of the death or ina
pility OF any OF said commissioners or lioui.
gators, the survivor or survivors shall ap-
point successor to him or them.
ARTICLE VIII.-ImmedIately after the
signing OF this charter the stockholders
shall elect from among their number Ave
stockholders, who shall constitute the first
hoard OF directors agd hold once until first
Monday OF July, 1914, or until their sue
cessors are elected and duly qualified.
This corporation shall become a going con-
Germ as soon as three thousand (S3. 600. OO)
dollars Of Its capital stock shall have been
Tins done and M aood ~ INV ofs.. - A..