The herald., 1915-09-23

| the SharcS OF stock subscribed tor by him.
| nor shall any mere informality in the organ
| zaton 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 a going concern until ten thou
sand tSl0,0UOO) 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 (two)
OF paragraph &C" OF Act 2o7 OF 1914 shall be
strictly complied with.
Article S.-All the corporate powers Of tins
corporation shall be vested in and exercised
by a board of directors 10 be composed of
SIX 90 stockholders, each of whom shall own
IN has 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, five OF whom shall constitute {.
quorum for the transaction OF business; pro-
vided the board OF directors shall have power
to increase, in their discretion, at any time
the number of directors from six TO fifteen
IN which event, i've shall constitute a quorum
The officers of this corporation shall consist
of president, Ce-preSIdeut, secretary and
treasurer. all OF whom shall he members OF
tary and treasurer may be held, If desired,
by one and the same person.
The following named persons shall ConSti-
tute the board Of directors Of this corporation,
| (,
John G. Woods, New Orleans. La; /. II.
Price, New Orleans, La; Thomas G.. Price,
New Orleans, La; W. W Hines, New Or
leans, La; W. {. Riggs, Hattesburg, Miss,
president; John G. Woods, OF New Orleans
La, as vice-President; Thomas c. Price, OF
New Orleans, La, as treasurer, and W. {.
Riggs, OF Hatticsburg, Miss, as secretary;
and these directors and officers shall serve uu-
til the FIRST Monday in March, 1910, or until
their successors have been duly elected and
qualified.
Thereafter the directors shall be elected
annually the first Monday in March OF
each year beginning with the year 1910; all
elections 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 i'll person or by proxy, and it shall
require majority of the stock present or rep
resented to elect.
Failure to elect the board of directors on
the first Monday in March, 1915, or annually
thereafter shall not work a forfeiture of this
charter, but the old board Of directors shall
remain in office until their successors are
elected and qualified.
Article D. 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 doufcile OF the
corporation, but the president may call spe-
CIal meetings of the board of directors at
such times as he may deem advisable, and
he snail be required to call such special meet
lngS 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 unless
waiver Of notice is signed by the directors.
ANY vacancy occurring on the board either
from death, resignation, or inability to serve
shall be filled by the board Of directors. at
its next regular meeting after such vacancy
shall have occurred. The first board of direc-
tors of this corporation shall be required TO
d. "a for he ~
this corporation, which may be altered,
amended or changed as the eXigenCies Of the
case may require.
Article The stock of this corporation may
be transferred, provided such transfer shall
be recorded upon the books of the corporation
before 1t shall be required TO recognize the
transfer or the new holder of said stock. The
total amount of the subscribed sock as here
inabove set forth is the sum OF ten thousand,
one hundred and sixty-four (sl0,l6+OO) dol
lars, which is hereby authorized to be issued
fully paid and worcestershire, for cash
Article S.-This charter may be modified,
or altered, the capital stock thereof increased
or decreased, or the corporation may be dis
solved with the assent of two-thirds of the
capital stock present or represented at any
meeting of the stockholders held for that pur
stakeholder or mailed to him at his last known
post office address, all in accordance with the
terms of Act 267 of 1914.
Article 9.-At the expiration of this char
ter, or the earlier dissolution of this corpora
ton for any cause, its affairs shall be liqui-
dated by one more liquidators to be elected
by the stockholders, all of whom shall hold
stock in said company and said commits
sioners are hereby vested with full power
and authority to liquidate the affairs of said
company, with full power to act under the
terms of Section 80 (thirty) of Act 267 of
1914.
Article lO-The appeners hereby declare
that they have subscribed to the following
ber or oft he fol % &c
corporation, to-wit:
w. A. Collins, Hattiesburg, Miss, fourteen
hundred and twelve shares; John G. Woods,
New Orleans, La, ten shares; L. II. Price,
New Orleans, La, ten shares; Thomas G.
Price, New Orleans, La, ten shares; w. w.
Hines, New Orleans, La, FIVE shares; w. c.
Riggs, Hattesburg, Miss, FIVE shares.
Thus done and passed, in my Office, in the
city OF New Orleans, on the day, month and
year trst above written, in the presence of
Arthur P. Portas and William r. Burns, COM
petent witnesses, who have signed these pres
ents. after due reading of the whole.
Original Signed: w. A. Collins. fourteen
hundred twelve shares; w. w. Hines, FIVE
shares; L. H.. Price, ten shares; Jno. G.
Woods, ten shares; Thos. G. Price, ten
shares; w. {. Riggs, five shares. Witnesses:
Arthur p. Portas, William X. Burns
JOHN R. UPTON.
STAMP Not Pub
I, the undersigned recorder of mortgages,
in and for the parish of Orleans, State of
Louisiana, do hereby certify that the above /,
and foregoing act of Incorporation of the Mu-
tsal Drilling Company, Incorporated, was this
day duly recorded in my Office, in book ll57, |
folio =. New Orleans, Aug. Is, 1915.
,Sgned EMILE J. LEONARD, by. R.
A true copy.
New Orleans, La, August IS, 1915.
JOHN r. UPTON, Not. Pub.
aug % sep 9 16 % 80