The herald., 1915-01-21

true COPY.
! Jan. ! II y Is Feb. : H.
|
CHARTER
| OF UNITED DRILLING COMPANY. INC.
| United States OF America, State Of Louisiana,
Parish OF Orleans.
he II known, That on this l4th day Of De
Ccmber, in the year OF Our Lord One Thou
sand Nine Hundred and Fourteen, Before me
Francis T.. Burns. a Notary Public. H. and f,r
the Parish OF Orleans, State Of Louisiana, duly
commissioned and qualified, and in the pres
cuce OF the undersigned witnesses. personally
came and appeared, the several persons whose
names are hereinafter subscribed, Of the fall
age Of majority, who declared 10 me that,
awaiting themselves OF the laws OF this State
relative TO the organization OF corporations,
and more especially Of Act ~ Of the Acts OF
1914, page 52l, OF the Legislative Acts Of this
State, and Act 252 OF 1910, page 5g', they have
Coyeuanted and agreed, and by these presents
do covenant and agree for themselves and
their successors and assigns, to form them
selves INTO corporation and body polite.
for the objects and purposes and under the
supulaIons hcrcinaiter set forth, to-wit:
Article The name and title OF this cor
poratIOn shall be United Drilling Company.
Incorporated, and under such title II shall
have and enjoy succession and existence for
period OF nIuci y-uuc years from date here
Of; II shall have power and authority to CON
tract, sue and be sued, make and use d CorpoT-
ate seal, the same TO break and alter At plea
sure; TO hold, sell, lease, mortgage, hypothe-
cate or pledge property, real, personal or
mixed, necessary. incidental or proper for the
carrying on OF its business, and to that end
10 further mortgage all oil or mineral leases.
grants or contracts held by it. together with
al! buildings, constructions and improvements
placed and erected on said lands. or 10 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 terms OF said leases as said
lesSecs or grantees may determine; TO buy and
TO hold stock IN any other company or COM
panleS that may assist this company in its OBJ
jects and purposes; TO make and issue notes
and certificates Of indebtedness, to name
elect and appoint managers, directors and
clerks or other employees to properly conduct
ITS corporate business, and TO make such by
laws, rules and regulations as may be found
necessary desirable Tor the management
and business affairs Of this corporation, and
generally to do every other act, matter or
carrying out of said business.
Article 1.-THE domicile Of this corpora
ton shall be in the City OF New Orleans,
Parish of Orleans. State Of Louisiana, where
all citation or other legal process shall be
served upon the President, IN the absence
OF the President, upon the Vice President, or,
in the absence of both, upon the Secretary
Article III-The objects and purposes of
this corporation are hereby stated and de
clared TO be:
]. i o acquire by purchase or lease, or DINER
wise, lands in the Calcasieu oil fields of Lou
isiana, in any other location in this State,
or elsewhere, for the purpose Of prospecting
for and obtaining oil, gas, salt, sulphur or
other minerals, and to that end to drill or
cause to be drilled oil wells or sink, or cause
to be sunk, shafts for mining, and TO buy,
lease, or otherwise acquire drilling rigs or
other machinery or apparatus necessary, TO |
fully accomplish said purposes; and II oil or
other minerals are found, then TO market
the same to the best advantage
2. To engage in the distribution of oil, gas,
salt, sulphur or other minerals either pro-
duced by this corporation or other persons or
by means OF pipe lines, tram |
ways, railroads, boats, barges or other con |
veyances, or 20 lease or suitcase all or any /
part thereof to any other persons corpora |
tions for the like purpose, and in order 10 |
fully 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 machin-
cry, apparatus and paraphernalia necessary or
incidental thereto.
;. To build construct, lease, purchase or
otherwise acquire buildings, machinery and
other apparatus for refining, smelling. manu- |
otherwise working up the pro- |
ducts of mineral lands either produced by |
this corporation or other persons or corpora |
tions, and to refine, smelt, manufacture or |
otherwise work up by-products OF said miner |
ais, to operate the said plant and market the |
products or byproducts, as manufactured, to
the best advantage.
T. To carry on such other bushes. appertain- |
ing to oil, gas, salt, sulphur other minerals |
as may be necessary or desirable, or such as |
are generally engaged in by a corporation
of this kind
Article IV.-The capital stock of this cor
poration is hereby fixed at the sum of Fiji !
teen Thousand (SlS,000O0) Dollars, divided in J
to fifteen hundred shares Of the par value OF
ten dollars each; provided that the amount 10 |
which the capital stock of this corporation may |
be increased shall be One Hundred Thousand
(sl0O,o0OO) 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, or 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 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
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 organization |
have the effect of rendering this charter null |
or of exposing any shareholder to any liability |
whatever.
ness and be a going concern until Twelve
Thousand (Sl200000) Dollars of the capital
stock shall have been issued and paid for
either in cash, services or in property as atore-
corporation is paid for in property, in that
event the terms and provisions of Section of
paragraph CO. of Act 267 Of 1914 shall be
strictly complied with.
Article V.-All the cooperate powers Of this
corporation shall be vested in and exercised
by a Board of Directors to be composed of
seven stockholders, each of whom shall own
in his own right, during his term. of office.
at least one full paid, non-pledged share of
stock, which shall be shown by his written
declaration. four of whom shall constitute
quorum for the transaction Of business; pro-
vided the board of directors shall have power
10 increase, in their discretion, the number
Of directors from seven to fifteen, in which
event eight shall constitute quorum.
The officers of this corporation shall consist
,f President, Vice-President, Secretary and
Treasurer all of whom shall be members Of
he Board of Directors. The offices of Secre-
tary and Treasurer may be held, if desired, by
1ne and the same person.
The following named persons shall constitute
The board of directors of this corporation, to-
wit: w. A. Collins, Hattiesburg, Mississippi;
George II. Carter, Hattiesburg. Mississippi; I.
Harris, Hattiesburg, Mississippi; B. s. Hood,
Bond, Mississippi; R. N. Davis, PerkinSton,
nth Georoe II Carter President