The herald. [volume] (New Orleans, La.) 1905-1953, 1915-06-17

stoned and qualified, and in the presence OF
the undersigned witnesses, personally came
and appeared the several persons whose
names are hereinafter subscribed, Of the full
age Of majority, who declared to me that
avalllng themselves OF the laws OF this state
relative to the organization Of corporations
and more especially OF act 267 Of the acts OF
1914, page Isl, Of the legislative acts of this
state, and act 2S2 Of 1910, page SES, they have
covenlntcd and agreed, and by these pres
entS do covenant and agree for themselves
and their successors and assigns t. f0ru
themselves into a corporation and body pol.
tic tor the objects and purposes and under
the StipulatiouS hereinafter set forth. to-wit:
Article THE name and title Of this cor.
poratlon shall be Kentucky Drilling Company
incorporated and under such title II Shall
have and ENJOY succession and existence for
a period OF nlnety-nlDc years from date here
of: It shall have power and authority to con.
tract sue and be sued, make and use a cor
pordic seal, the same to break and alter Al
pleasure; TO hold, sell, lease, mortgage. nv.
potheCate or pledge property real, personal or
mixed necessary, Incidental or proper for
the carrying on OF its business, and to that
end To further mortgage all oil or mineral
leases, grants or contracts held hv it, To-
gether with all 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 mort
cages, such bonds 10 be issued in such
amounts at such rate OF interest and to run
Tor such length OF time not exceeding the
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 certif-
Gates OF Indebtedness; 10 name, elect and ap-
point managers, directors and clerks or other
employees To properly conduct its corporate
business and TO make such bylaws, rules
and regulations as may be found necessary
or desirable Tor the management and bust
ness affairs Of this corporation, and generally
to do every other act, matter or thing neces-
sary for the complete and proper carrying out
OF said business
Article 1.-THE Gomicile 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
OF the president, upon the vice president, or,
IN the absence OF both, upon the secretary
treasurer.
Article ITI.-The objects and purposes of
this corporation are hereby stated and de-
Clarcd to be:
% To acquire by purchase or lease, or
otherwise, lands in the Calcasieu Sulphur and
OIL nelds Of Louisiana, or in any other loca-
ton IN tins state, or elsewhere, for the pur-
pose OF prospecting for and obtaining oil,
gas, salt, sulphur or other minerals, and to
that end to drill 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 If oil or other minerals are found then
to market the same 10 the best advantage.
~ To engage in the distribution OF OIL
gas, salt, sulphur or 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-
veyauCes, or to lease or suitcase all or any
part thereof to any other persons or corpora
tons for the like purpose, and in order 70
fully carry out said objects and purposes to
purchase, lease, or otherwise acquire pipe
lines, tramways, railroads, boats, barges, tank
cars, locomotives, pumping stations, steam
plants, air plants, and all other machinery,
apparatus and paraphernalia necessary or in
cdental thereto.
60 To build, construct. lease, purchase or
otherwise acquire buildings, machinery and
other apparatus for refining. smelling, manu-
featuring, or otherwise working up the pro-
ducts of mineral lands either produced by
this corporation or other persons or cor
porations, and to refine, smelt manufacture
or otherwise work up by-prOduCtS of said
minerals 10 operate the said plant and market
the products or by-products, as manufactured,
to the best advantage.
ca To carry such other business apper-
tanning to oil, gas, salt, sulphur or other
minerals as may be necessary or desirable
or such as are generally engaged in by
corporation of this kind.
Article IV.-The capital stock of this cor
pOration is hereby fixed at the sum of eleven
thousand nine hundred (Sll9OOOO dollars.
divided into seventeen hundred shares of
the par value OF seven dollars each; provided
tndt the amount 10 Which the capital stock
OF this corporation may be increased shall
be one hundred thousand (SlOO,OOOOO dollars
Fifty per cent of the capital stock of this
corporation mut 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 rend-
cred; and provided that If the stock is not
paid for in cash that the law provided for
in section ) Cthreel 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 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 (SlO,0O0.00) dollars of the capital stock
shall have been issued and paid for, either
in cash. services or in property as afore-
said. If any of the aforesaid stock of this
corporation is paid for in property in that
event the terms and provisions of section ,
Uwo) of paragraph &C. of act 267 of 1914
shall be strictly complied with.
Article V.-All the corporate powers of this
corporation shall be vested in and exercised
by a board of directors 10 be composed of
fifteen stockholders, each of whom shall own
in his own right, during his term of office, at
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
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 one 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; ]. II. Car
ruth, Jr., PIT. Allen, La; NJ. X. Pearce, Bo-
galusa, La; r. P. Stewart, Fulton, KY; ]. L.
Bulard, Bassic City, Miss; Frank Heiss,
Meridian, Miss; J. D. King, Philadelphia,
Miss; J. G. Woods, New Orleans, La; f. l..
Martin, Waynesboro, Miss; w. W. Hines,
New Orleans, La; VIM. +. Falconer, Tunis,
La; c. A. Davis, Collins, Miss; NJ. I.
Woodward, New Orleans, La; J., A. Bishop
Biloxi, Miss; w. A. Collins, HattiesbuIg,
as president; J. L. Billiard, of Bassic City,
Miss, as 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 on 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 t
be cast in person or by proxy, and 1t shall
require a majority of the stock present OF
represented to elect.
Failure to elect the board of directors or
the first Monday in July, 1916, or annually