The Caucasian. (Shreveport, La.) 1900-192?, 1913-03-13
CHARTER
VI the Oil City Development Com
pany.


notary public in and for the Parish
ana State above written, duly COM
missloned, 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 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 /.
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 shalt
have power to contract, sue and be
sued; to make and use a corporate
seal; to hold, receive, purchase,
convey, mortgage, pledge and by
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 OF 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 ".
The capital stock is fixed at fifty
thousand and nO-100 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,OOeOO) dollars of stock
had been subscribed and paid for.
ARTICLE v.
The corporate powers of this cor
poration shall be vested in and Its
laffairs shall be managed by board
of directors, three in number, to DC
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 1918. Until such
election, the following shall com
nose the first board of directors: W
II. Carter, who shall be president
tW. p. Parks, who shall be vice pres
ident; and I. C. MCGEE, who shall d
/ secretary-treasurer. The oflcer'
i shall be elected viva yoce at q meet
| ing of the directors called Tor tina
purpose. Vacancies on the Doaf'
4 may be filled for the unexplred tern
i by the remaining directors; Doaf'
members may by written proxy &c
| for each other at board meelliles
The board of directors may empp!
aeeneral manager and such othe
agents as the interests OF the com
pany may require, and discnals
them at pleasure; each difec'u
|Ishall own at least one share OF stoc'
| lin the corporation. Three director
shall constitute quorum OF III
board for the transaction OF Dusl
ness. who shall attend in person 9
by written proxy. The board OF o.
recters may be increased or ue
lereased at the will Of the stocknoid
lers as evidenced by vote OF three
fourths of the stock at meetln