New Iberia enterprise and independent observer., 1915-07-10
CHART r OF
The CHAIN OIL COMPANY, INC.



IN the presence OF the undcrFned mpetent wit
nesSe' personally came and appeared, the several
persons whose names are hrrrunrn subscribed who
declare that they desire to yaIl themselves of Act
zb7 OF the Acts OF the General Assembly OF the
State OF Louisiana of toe year 1914. and the other
laws OF the State relative to the orgspizs sti1p Of
corporations, that they do by these presents bind,
| covenant, and agree and form themselves into A
| corporatlon and body poIic in law together with
ali persons who may thereafter become associated
with them and t.. acquire the rights an powers
OF 4 body corporate, they do thereby form them
selves lnso corporation under the name and style
and for the purpose hereinafter set forth
ARTIiLE l.
| The name and ttle of this corporation shall be
| "Ihe Chain Oh Company Company Inc " and
| it domclle is hereb, established at New Iberia
I1eria Parish, State of Louisiana, ard under its
corporate name. sa d corporation shall have tn.
power and an hority to cpnsct, sue and to be sued
| and to make and a corporated seal and the same
to break and alter at pleasure, and to hold receive
purchase, mortgage or csIvey under It's corporate
| name, property both real and personal, for the
purpose of carving out the objects thereof, name
and appoint such officers, directors, and other em-
ployees as may be permitted by law, to make and
| establish by-laws, rues ana regulations for the
proper management and regulations of its affair,
as may be deemed necessary and proper and to d,
| all other acts and things a, may be permitted by
law, or may be necessary and proper to carry out
the objects and purposes of this corporation.
SAID corporal on unless sooner dissolved shall
exist for period of thirty wears
Service OF clta'ion, or other legal process shall
be made in conformity with the existing laws gov
ernlng the corporations in this State.
ARTICLE Z.
The objects and purposes for which this corpora
ton organized and the nature of the business to
be carried on by it hereby declared to be- to
engage in the business of drilling upon or other
wise exploring such lands it may acquire in full
or in part ownership, or may lease or TO which it
may acquire any rights whatever for the purpose
of discovering oil, gls or other minerals and the
same to explore for commercial purposes: to un-
dertake all works and make all contracts to that
end as may be necessary, and to sell or otherwise
dispose of such products they may bring forth
and to do all things that may be necessary to
facilitate the drilling exploration, and sell and
deliver thereof and in fact to do all things neees-
sary and conducive and to the benefi of said cor
poration.
ARTICLE
The Capital Stock shall be Fifteen Thousand
Dollars 1900 oo) divided into Six Hundred
{ (6oo) shares of the par value Of Twenty Five
Dollars i s .oo) each, which stock shall be paid
for IN cash at the time of its subscription or in
such lnstallments the Board may direct, stock
may be issued in exchange tor property or rights
actually received or purchased by the corpora
ton, good will, other valuable considerations
as may be permitted by law. and after due ap
prasment BY the Board OF Directors of said cor
poration.
No Stock Holder shall ever be held liable or
responsible for the contract or failure of said cor
POI alton, in any further than that provided BY
law, nor shslany informality in the organiza.
tion have the effect of rendering said chares null
or expose said stock holders any liability, other
thar that specified by law.
Fifty per cent of all stock subscribed for must
be actually paid in before the corporation engages in
business, and the remainder within Twelve months
thereafter under the restrictions pointed out by
sad Act a67 of the year 1914. The amount to
which the capital stock may BE- increased is here.
BY fixed at the sum of Forty Thousand Dollar
$40, 900 90.
The Board Of Directors shall have the power
% fill vacancies in their number, caused by death,
esignation or otherwise, from among the stock
holders Of the corporation and said Board shall
'ave control Of the property Of this company and
hall so conduct, manage and use the same ~ in
heir discretion they deem necessary, and which
consistent with the organization and affairs of
he company; 1t may adopt such rules and regula-
ions as the affairs Of the corporation may re-
uire, employ such laborer,, clerks or other
gents as may appear desirable, to fix and deter ,
nine the salary Of each officer and other en- ployee,
u in accordance with law. I
ARTICLE T. {
The corporate powers Of this company shall be ,
ested in and exercised By Board Of Seven diree-
's', -Four Of which shall constitute quorum, for q
he transaeting of business There shall be elected
om the Board Of Directors, President, a Vice q
resident, a Secretary and Treasurer. The
oard Of Directors shall be elected on the first '
1onday in June of each year. Until such cleo =
on, to be held in the year 1916, the following {
shall constitute the first Board Of Directors:
. P. Sims, President, Adeine, La; Dr. Paul N. n
yr, Vice. President, Jeanerette, La; n. J. '
NTH, Secretary, New iberia, La; J. g. Brous-
rd, Treasurer, St. Marinville, La; Robert &.
ayor, New iberia, La; Wooster, Center
lie, La and F. Z. Delaboussaye, St. Martinville,
a. At every election and meeting Of the Stock
olders, each stock holder shall be entitled to one
,te for each share Of stock owned by him; vot-
& by written proxy shall be allowed under the
DIVISIONS Of Section of said Act 167 Of the
ar 1914. >
ARTICLE s.
Stockholders meetings for the election
Directors shall be held annually on the a
rst Monday in June, at the domicile of Il
Ie corporation; notice thereof shall be a
'lvered personally by depositine in the =
ost Office, to the proper address to each d
ockholder, announcement thereof at r
asst fifteen days (I5) before the o
Getting. At least Two days (2) before ii
i'd meeting a complete list Of the stock. b
,lders entitled to voto, shall be open for n
spection by the stockholders, at the {,
ace Of said meeting, all other meetings
stockholders may be conducted in ac- tl
rdance with section 10 of said Acts 267
the year lyl4. b
ARTICLE n
This charter may be changed, or amen !, -
I'd, or the corporation dissolved, under u u
. terms and conditions, and In accord
ice with said Act 267 Of the year 1914. u
ARTICLE =
Thi' corporation shall have all the righ,s and =