The herald., 1915-07-01

term of said leases, as said lessees or gran.
tees may determine; to buy and to hold stock
IN any other company or companies that may
assist this company in its objects and pur-
poses; to make and issue notes and Certifi-
Gates of Indebtedness; 10 name. elect and ap-
point managers, directors and clerks or other
| employees to properly conduct is corporate
| business and to make such bylaws, rules
and regulations as may be found necessary
or desirable for the management and bust
ness affairs Of this corporation, and generally
10 do every other act, matter thing ncCcs-
| S9ry Tor the complete and proper 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 and other legal process shall be
| served upon the president or IN the absence
81 the president, upon the vice-presidcnt, or
IN the absence Of both, upon the secretary
treasurer
Article III.-The objects and purposes Of
this corporation are hereby stated and de-
clared to be:
CD To acquire by purchase or lease, or
otherwise, lands in the Calcasieu Sulphur and
OiI heldS OF Louisiana, or IN any other loca-
ton in this state, or elsewhere for the pur-
pose of prospecting for and obtaining oil.
gas, salt, sulphur or other minerals, and -
that end to drill cause to be drilled oil
wells or sink, or cause to be sunk shafts for
mining and TO buy, lease. otherwise acquire
drilling rigs or other machinery or apparatus
necessary TO fully accomplish said purposes:
and II oil or other minerals are found then
10 MAI ktl tlc same TO the best advantage.
~ To engage in the distribution OF oil,
gas, salt, sulphur other minerals either
produced by this corporation or other persons
or corporations by means Of pipe lines, tram
ways, railroads, boats, barges or other con-
vcyanccs, or To lease or suitcase all or any
part thereof TO any other persons or corpora.
tons for the like purpose. and in order to
fully carry out said objects and purposes TO
purchase, lease, otherwise acquire pipe
lines, tTamways, railroads boats, barges, tank
cars, locomotives, pumping stations, steam
plants, air plants, and all other machinery,
apparatus and paraphernalla necessary or in
cldeutal thereto.
90 To build, construct. lease, purchase or
otherwise acquire buildings, machinery and
other apparatus for refining, smelling, manu-
featuring, otherwise working up the pro-
ducts OF mineral lands either produced by
this corporation other persons or cor
Poratious, and to refine, snelt. manufacture
or otherwise work up hy-products Of said
minerals 10 operate the said plant and market
the products or by-produCts, as manufactured,
to the best advantage.
(4 To carry on such other business apper-
tanning 10 oil, gas, salt, sulphur or other
minerals as may be necessary or desirable,
or such as are generally engaged III by a
corporation OF this kind.
Article IN.-The capital stock of this cor.
poration is hereby fixed at the sum OF eleven
thousand nine hundred (Sll 10000 dollars,
divided into seventeen hundred shares of
the par value OF seven dollars each; provided
that the amount TO which the capital stock
OF this corporation may be increased shall
be one hundred thousand (SlOOOOOOO 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 rend-
cred; and provided that If the stock is not
paid for in cash that the law as provided for
in section ; Ghree) of act 267 of 1914 be in
all respects complied with.
No stockholder shall ever be held liable
reSpOuSihlP
debts of this corporation in any further sum
than the unpaid balance due the corporation
OH the shares of stock subscribed for by him,
nor shall any mere informalIty 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 be a going concern until ten thou
sand tSlO,OO0OO) dollars OF the capital stock |
shall have been issued and paid for, either
in cash, services or in property as afore-
corporation is paid for in property in that
event the terms and provisions of section ?
(two) OF paragraph &C" of act 267 of 1914
shall be strictly complied with.
Article VAN the corporate powers of this
corporation shall be vested in and exercised
by a board of directors 60 be composed of
fifteen 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
declaration, five of whom shall constitute
The officers of this corporation shall consist
of a president, vice president, secretary and
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 and the same person.
The following named persons shall consti-
tute the board of directors of this corpora
ton, to-wit:
J. p Unger, West Point, Miss; ]. H. Car
ruth, Jr., PIT. Allen, La; NJ. X. Pearce, Bo-
| galusa. La. R. 2. Stewart, Fulton, KY; ]. L.
Bullard, Bassic City,, Miss; Frank Heiss,
Miss; J. G. Woods, New Orleans, La; E. L.
Martin, Waynesboro, Miss; w w. Hines
New Orleans, La; VIM. F. Falconer, Tunis,
La; c. A. Davis, Collins, Miss; N. I.
Biloxi, Miss; W. A. Collins. Hattiesburg,
Miss; with ]. p. Unger, of West Point, Miss,
| as president; ]. L: Billiard. Of Basic City,
Of New Orleans, La, as seeretary-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 on the first Monday in July of each
year, beginning with the year 1916; all cleo:
| tions of directors shall be by ballot, and
l 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
i, represented to elect.
| Failure to elect the board of directors
| the first Monday in July, 1916, or annually
there after shall not work a forfeiture of this
/ charter, but the old board CT directors shall
| remain in office until their successors are
elected and qualified.
| Article VI.-The board of directors shall
| hold regular meetings at such times as shall
| be fixed in the bylaws of this corporation.
| These meetings shall be held at the domi-
| cile 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 to call such special
meetings whenever requested to do so by
| three members of the board of directors.
| Three days notice of such special meetings
| shall be given in writing to the directors I'm
| 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 filed by the board of di-
| rectors at its next regular meeting after
| such vacancy shall have occurred. The hrst
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-
| cies of the case may require.
Article VII.-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.
nize 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 nifty
CSSo5OOO) dollars, which is hereby authorized
to be issued fully paid and worcestershire
for cash