The herald., 1915-07-15
THE III E r AID

on the shares of stock subscribed for by him.
nor shall any mere informalty in the or
ganization have the effect of rendering this
charter null or of exposing any shareholder
to any liability whatsoever.
This corporation shall not begin to do bus
mess and he going concern until ten thou
! sand (Sl0OCOCO dollars of the capital stock
shall have been issued and paid for, either
! IN cash, services or in property as afore-
said. Ii any Of the aforesaid stock of this
! corporation IS paid for in property in that
event the terms and provisions of section ?
/ (twoD Of paragraph &C" of act POI of 1914
shall be strictly complied with.
Article N.-All the corporate powers of this
| corporation shall be vested in and exercised
by board OF directors 10 be composed of
4 fifteen stockholders, each Of whom shall own
/ IN his own right, during his term of office, at
least one full paid, nIon-pledged share of
| stock, which shall be shown by his written
declaration, five of whom shall constitute a
quorum for the transaction OF business.
The officers OF this corporation shall consist
! treasurer, all OF whom shall be members of
, the board Of directors. The Offices Of secre-
! tary and treasurer may be held, if desired,
| by one and the same person.
The following named persons shall cousti-
tute the board OF directors Of this corpora
ton, to-wit:
J. p. Unger, West Point, Miss; J. H. Car.
ruth, Jr., PIT. Allen. La; NJ X. Pearce. Be-
Billiard Bassic City, Miss; Frank Heiss,
Meridian, Miss; J. D. King, Philadelphia,
Mss; J. G. Woods, New Orleans, La; E. L.
New Orleans, La; VIM. F. Falconer, Tuns,
La; {. A. Davis, Collins Miss; NJ T.
Woodward, New Orleans, La; J. A. Bishop,
Biloxi, Miss; W: a. Collins, Hattiesburg,
Miss; with J. P. Unger of West Point, Miss,
as president; J. L. Billiard, of Bassic City,
Miss, vice-president, and W. w. Hines,
| OF New Orleans, La, as secretary treasurer,
and these directors and officers shall serve
! until the first Monday in July, 1916 or until
their successors have been duly elected and
qualified.
Thereafter the directors shall be elected
annually the first Monday in July of each
year, beginning with the year 1916; all cleo
tions of directors shall be by ballot and
each stakeholder shall be entitled to one vote
for each share of stock standing in his name
on the books of the corporation, this vote to
be cast in person or by proxy, and it shall
require a majority OF the stock present or
represented to elect.
Failure to elect the board of directors on
the first Monday in July, 1916. or annually
there after shall not work forfeiture of this
charter, but the old board of directors shall
remain in Office until their successors are
elected and qualified.
Article NI.-The board of directors shall
hold regular meetings at such times as shall
( be fixed in the bylaws of this corporation.
I These meetings shall be held at the domi-
! Gle of the corporation, but the president may
, call special meetings OF the board of direc-
tors at such times as he may deem advisable,
and he shall be required 10 call such special
meetings whenever requested TO do by
three members of the board of directors,
Three days notice of such special meetings
shall be given in writing to the directors UNI
less waiver of notice is signed by the direc-
tors. Any vacancy occurring on the board
either from death, resignation, or inability
to serve shall be filled by the board of d.
rectorS at its next regular meeting after
such vacancy shall have occurred. The first
board OF directors of this corporation shall be
required to draft suitable bylaws for the
government Of this corporation, which may be
altered, amended or changed as the exigen-
cles OF the case may require.
Article NII.-The stock of this corporation
may be transferred. provided such transfer
shall be recorded upon the books of the cor
poration before it shall be required to recog-
nlze the transfer or the new holder of said
| stock. The total amount OF the subscribed
stock as hereinabove set forth is the sum
OF five thousand nine hundred and fifty
(S5,95O.OO dollars, which is hereby authorized
to be issued fully paid and worcestershire,
Article VIII.-This charter may be modi-
fed, or altered, the capital stock 'nereof in
creased or decreased, the corporation may
be dissolved with the assent of two-thirds of
the capital stock present or represented at
any meeting Of the stockholders held for that
purpose after prior notice in writing to each
stakeholder or mailed to him at his last known
post office address, all in accordance with
the terms OF act 267 of 1914.
Article lN.-At the expiration of this char
ter, or the earlier dissolution of this corpor-
atiOu iOT any cause, ITS AFFAIRS shall be lIQui-
dated by or more hquidators to be elect
ed by the stockholders, all Of whom shall
hold stock in said company and said COM
mlssioners are hereby vested with full power
and authority TO liquidate the affairs of said
company, with full power 10 act under the
terms OF section 80 (thirty) of act 267 Of 1914
Article N.-The apFearers hereby declare
that they have SUBSCRIBED to the following
't...'DrT Of shares Of ~ capital stock of this
NJ. k. fPearHe,S ii,vs~.asa, La, zen snare
r. p Stewart, Fulton, ky., one snare; J. l.
Bullard. Bassic City, Miss, hve shares; J. y
King Philadelphia, MISS, hye shares; J. ~
Moods. New Orleans, La, one share; W. W;
Hines, New Orleans, La, eight hundred ana
one shares: VIM. +. Falconer, Iunis, La; hve
Sbsres. c A Davis, Collins, Miss, one share;
N T. Woodward, New Orleans, La, one
share; J. A. Bishop, Biloxi, Miss, one snare;
w A. Collins, Ha'tiesburg, Miss, one snare.
Thus done and passed, in my office, IN the
city of New Orleans, on the day, month anu
, wear first above written, IN the presence OF
( St. Clair Adams and Arthur L. PoTtas, com
| netent witnesses, who have signed these pres,
| ents together with the said appearers and
me. notary, after due reading OF the whoie.
| Original signed: Names OF SUBSCRIBERS
| omitted. Witnesses: St. Clair Adams, Arthur
p. Portas. union NJ. p,,b
I, the undersigned recorder OF mortgages ~
| I'D for the parish of Orleans, state of Louisl;
ana. do hereby certify that the above ano
i foregoing act of incorporation OF the Ken
trcLv Drilling Co, Inc, was THIS Gay uuly
yecoIded in nv Office, in book ll57, folio -
New Orleans, June IS, 1915
(Signed) EMILE J. LEONARD by.
New Orleans, La, June Is. 1915; -ron
lS,,mn, Not. Pub