The herald., 1915-09-02

apparatus necessary to fully accomplish said
purposes; and if oil or other minerals are
found then TO market the to the bes
| advantage.
2) To engage in the distribution of oil
gas, SALT sulphur or other minerals either
produced by this corporation, or other per.
sons or corporations by means of pipe lines
tramways, railroads, boats, barges or other
conveyances, or to lease or suitcase all or
| any part thereof to any other persons or COR
poratlons for the like purpose, and in order
10 Iully carry out SAID objects and purposes
to purchase, lease, otherwise acquire pipe
| lines, tramways, railroads, boats, barges, tank
cars, locomotives, pumping stations, steam
plants, air plants, and all other machinery,
| apparatus and paraphernalia necessary or in
| cidental thereto.
! go To build, construct, lease, purchase or
otherwise acquire buildings, machinery and
other apparatus for refining, smelling, man.
| utacturlng, or otherwise working up the pro-
ducts of mineral lands either produced by this
corporation or other persons corporations
and to refine, smelt manufacture, or other.
wise work up by-products of said minerals
| to operate the said plant and market the pro-
ducts or by-products, as manufactured, to the
| best advantage.
az To carry on such other business apper-
tanning to oil, gas, salt, sulphur other mni-
erals as may be necessary or desirable or
such as are generally engaged in by cor
poration of this kind.
Article 4-The capital stock of this cor
poration is hereby fixed at the sum of twenty
NlOuSdHu, lHTCc hundred ana twenty eight
(S2O,52S.0O dollars, divided into two thousand,
nine hundred and four $500 shares of the
par value of seven $500 dollars each; pro-
vided that the amount to which the capital
stock of this corporation may be increased
shall be one hundred thousand (SlOO, 100000
dollars.
Fifty per cent of the capital stock of this
corporation must be subscribed for before the
filing Of the articles of Incorporation. The
subscribed capital stock of this corporation
shall be payable in cash, property, real or
personal for services performed or rem
dered; and provided that if the stock is not
paid for in cash that the law as provided for
in section 3 (three) of Act 267 of 1914, be in
all respects complied with.
No stakeholder shall ever be held liable or ]
responsible for the faults, contracts or debts I
OF this corporation in any further sum than
the unpaid balance due the corporation on
the shares of stock subscribed for by him, |
nor shall any mere informality in the organ |
lzation have the effect of rendering this char |
ter null or OF exposing any shareholder to |
any liability whatsoever.
This corporation shall not begin to do bust |
ness and be going concern until ten thou |
sand (Sl0,0O000) dollars of the capital stock |
shall have been issued and paid for. either
in cash, services or in property as aforesaid |
IT any of the aforesaid stock of this corpor
alton is paid for in property in that event |
the terms and provisions of Section 2 (two) |
of paragraph "C' of Act 267 of 1914 shall be
strictly complied with.
Article Sail the corporate powers of this
corporation shall be vested in and exercised
~ board of directors to be composed of
six (6) stockholders, each of whom shall own
in his own right, during his term of Office,
at least full paid, non-pledged share of
stock, which shall be shown by his written
quorum for the transaction of business; pro-
vded the board of directors shall have power
to increase, in their discretion, at any time,
the number of directors from six to fifteen,