The herald. [volume] (New Orleans, La.) 1905-1953, 1915-09-30
CHARTER
OF MUTUAL DRILLING COMPANY. IN.
CORPORATED.

OF MUTUAL DRILLING COMPANY. IN.
CORPORATED.
United States Of America, State Of louisiana,
Parish Of Orleans.
BE it known, that on this sixteenth dav of
| August, IN the year OF our Lord one thousand
| nine hundred and fifteen, before me, Tohn X.
| pion, notary public, in and for the parish
| OF Orleans, State OF Louisiana, duly COM
| niSSloned and qualIned and in the presence
/ OF the undersigned witnesses, personally came
| and appeared the several persons whose names
! are hereinafter subscribed, of the full age
OF majority, who declared to me that avaiIing
! themselves Of the laws Of this State relative
! To the orgdn cation Of corporations, and more
especially OF Act 2o7 of the Acts Of 1914
page PSI, Of the legislative Acts of this
! State, and Act 232 OF 1910, page S93 they
/ have covenanted and agreed, and by these
/ presents do covenant and agree for them
selves and their successors and assigns 10
form themselves into a corporation and BODY
polite tor the objects and purposes and under
the stpulauonS hereinafter set forth, to-wit:
Article l. The name and title of this cor
poratlon shall be Mutual Drilling Company,
Incorporated and under such title it shall
nave and enjoy succession and existence for
period OF nlnety-nlne years from date here
Of; 1t snail have power and authority to con-
tract, sue and be sued, make and use a cor
porate seal, the same TO break and alter at
pleasure; TO hold, sell, lease, mortgage hy-
pothecate or pledge property, real, personal
or mixed, necessary, incidental or proper for
the carrying on Of its business, and, to that
end to further mortgage all oil or mineral
leases, grants or contracts held by il, together
with all buildings, constructions and improve
ments placed and erected on said lands, or
to be placed or erected thereon, as well as
to issue bonds secured by such mortgages. |
such bonds to be issued in such amounts at |
such rate of interest and TO run for such !
length OF time not exceeding the term of said !
leases, as said lessees or grantees may de- |
termine; to buy and to hold stock in any /
other company or companies that may assist |
TINS company IN its objects and purposes; TO |
make and issue notes and certificates of in |
debtedness; TO name, elect and appoint man
ayers, directors and clerks or other employees /
to properly conduct its corporate business and
to make such bylaws, rules and regulations
as may be found necessary or desirable for
the management and business affairs of this
corporation, and generally to do every other
act matter or thing necessary for the COM
Plete and proper carrying out of said bust
Article 2 The dOmicile of this corporation
shall be in the city of New Orleans parish
81 Orleans, State of Louisiana, where all
citation and other legal process shall be served
upon the president, or, in the absence of the
president, upon the Tice-president, or, in the
absence of both, upon the secretary or treas
Irer.
Article ;. The objects and purposes of this
corporation are hereby stated and declared
70 be:
% To acquire by purchase or lease, or
lands in the Cacasieu Sulphur and
Ill helds OF Louisiana, in any other loca-
ion in this State, or elsewhere, for the pur-
'ose of prospecting for and obtaining oil,
,as, salt sulphur other minerals, and 10
hat end to drill or cause to be drilled oil
wells, or sink, or cause TO be sunk, shafts
or mining and to buy, lease, or otherwise
cquire drilling rigs or other machinery or {
pparatus necessary to fully accomplish said | ,
and If Or Otb mir !
ound then to market the same to the best :
dvantage. .
2) To engage in the distribution of oil,
as, salt, sulphur or other minerals either ;
reduced by this corporation, or other per- $
ons or corporations by means of pipe lines \
railroads, boats, barges or other | :
onyeyances, or to lease or suitcase all or I
ny part thereof to any other persons or cor
orations tor the like purpose, and in order
, fully carry ont said objects and purposes
} purchase, lease, or otherwise acquire pipe Il
mes, tramways, railroads, boats, barges, tank /
lrs, locomotives, pumping stations, steam a
Iants, air plants, and all other machinery, II
pparatus and paraphernalia necessary or in \ d
dental thereto. +,
90 To build, construct, cease, purchase or
herwise acquire buildings, machinery and
her apparatus for refining, smelling, man
featuring, otherwise working I'D the pro-
lcts of mineral lands either produced by this Al
operation or other persons or corporations, =
I'd to refine, smelt, manufacture, or other.
operate the said plant and market the pro- S
lets or by-products, as manufactured, to the
st advantage.
"a To carry such other business apper- OF
lining to oil, gas, salt, sulphur or other mni- be
ais as may be necessary or desirable, or 70
oh as are generally engaged in by a cor o.
ration of this kind 81
Article 4.-The capital stock of this cor tn
ration is hereby fixed at the sum of twenty s
ousand, three hundred and twenty-eight Sc
,O,52SOO) dollars. divided into two thousand, su
ne hundred and four $500 shares of the in
r value of seven $500 dollars each; pro- er
led that the amount to which the capital FOL
'ck Of this corporation may be increased De
all be one hundred thousand (SlOOOOOOO CO
liars. en-
fifty per cent of the capital stock of this we
-poration must be subscribed for before the be
ng Of the articles of Incorporation. The COZ
)scribed capital stock of this corporation la,
all be payable in cash, property, real or ma
sonal or for services performed or rem tn,
ed; and provided that if the stock is not to-
d for in cash that the law as provided for /
section (three) of Act 267 of 1914 be in 81
respects complied with. 2
70 stakeholder shall ever be held liable or is
ponsible for the faults, contracts or debts ma
his corporation in any further sum than sci