The herald. [volume] (New Orleans, La.) 1905-1953, 1915-09-09

apparatus necessary to fully accomplish said
purposes; and if 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
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
poratiOns 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 paraphernalia necessary or in
cidental thereto.
CD To build, construct, lease, purchase or
otherwise acquire buildings, machinery and
other apparatus for refining, smelling, man
ufacturing, or otherwise working up the pro-
ducts of mineral lands either produced by this
corporation other persons corporations,
and to refine, smelt, manufacture, 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 or other mni-
erals may be necessary or desirable, or
such generally engaged in by a cor
poration of this kind.
Article 4.-The capital stock of this cor
poration is hereby fixed at the sum of twenty
thousand, three hundred and twenty-eight
$50, $500 dollars, divided into two thousand,
nine hundred and four 5000 shares of the
par value of seven $500 dollars each; pro-
vidcd that the amount to which the capital
stock of this corporation may be increased
shall be one hundred thousand (Sl00yO00.00)
dollars.
Fifty per cent of the capital stock of this
corporation must be subscribed for before the
filing of the articles of incorporation. The
.k,I al of ttnf1
shall be payable in cash, property, real or
personal or for services performed rem
dered; and provided that if the stock is not
paid for in cash that the law as provided for
in section (three) of Act 2o7 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 organ
ization have the effect OF rendering this char
ter null of exposing any shareholder to
any liability whatsoever.
This corporation shall not begin to do bust
ness and be a going concern until ten thou
sand (Sl0,0OO00) dollars of the capital stock
shall have been issued and paid for, either
in cash, services or IN property as aforesaid.
If 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 CO. of Act 267 of 1914 shall be
strictly complied with.
Article S.-All the corporate powers of this
corporation shall be vested in and exercised
by a board of directors to be composed OF
six (6) stockholders, each of whom shall own
in his own right, during his term OF once,
at least one full paid, non-pledged share of
stock, which shall be shown by his written
declaration, FIVE of whom shall constitute .
quorum for the transaction of business; pro-
yided the board of directors shall have power
to increase, in their discretion, at any time,
the number of directors from six to fifteen,