The herald., 1915-09-23
CHARTER
OF MUTUAL DRILLING COMPANY, IN
CORPORATED.

OF MUTUAL DRILLING COMPANY, IN
| CORPORATED.
United States of America, State of Louisiana,
| Parish of Orleans.
Be it known, that on this sixteenth day of
| August, in the year Of our Lord one thousand
| nine hundred and fifteen, before me, John K.
| Upton, a notary public, in and for the parish
| OF Orleans, State OF louisiana, duly COM
missioned 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 avaiing
| 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 PSI, of the legislative Acts of this
/ State, and Act 252 OF 1910 page 1913, they
! have covenanted and agreed, and by these
| presents do covenant and agree for them
selves and their successors and assigns to
| form themselves into a corporation and body
! polite for the objects and purposes and under
the stpuations hereinafter set forth, to-wit
Article |. The name and title of this
| poraton shall be Mutual Drilling Company,
I Incorporated and under such title it shall
! have and enjoy succession and existence for
a period of ninety-nine years from date here
Of II shall have power and authority to con-
tract, sue and be sued, make and use cor
pOratc SEAL the same to break and alter at
pleasure; to hold, sell, lease, mortgage, hy-
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 by IL, together
with all buildings, constructions and improve
/ ments placed and erected on said lands, or
TO be placed or erected thereon, as well
to issue bonds secured by such mortgages,
such bonds to be issued in such amounts, at
such rate of interest and to run for such
length of time not exceeding the term Of said
leases, as said lessees or grantees may de-
termine; to buy and to hold stock in any
other company or companies that may assist
this company in its objects and purposes; to
make and issue notes and certificates of in
debtedness; to name, elect and appoint man.
ayers, 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 for
the management and business affairs of this
corporation, and generally to do every other
act, matter or thing necessary for the COM
plete and proper carrying out of said BUSH
ness.
Article q The domicile of this corporation
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-presdent, or, in the
absence of both, upon the secretary or treas
urer.
Article g. The objects and purposes of this
corporation are hereby stated and declared
to be:
ID To acquire by purchase or lease, or
otherwise lands in the Calcasieu Sulphur and
Oil fields 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 TO
that end to drill or 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 other machinery or
apparatus necessary to fully accomplish said
purposes, and if oil or other minerals are
found then to market the same to the best
advantage.
90 To engage in the distribution of oil,
gas, salt, sulphur ether minerals either
produced by this corporation, or other per-
sons or corporations by means of pipe lines,
tramways, railroads, boats, barges or other
conveyances, to lease 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, 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
cidental thereto.
go To build, construct, ease, purchase or
otherwise acquire buildings, machinery and
other apparatus for refining, smelling, man.
ufacturing, otherwise working up the pro-
ducts of mineral lands either produced by this
corporation or other persons or corporations, |
and to refine, smelt, manufacture, or 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
"a To carry on such other business apper- |
tanning to oil, gas, salt, sulphur or other mni. |
erals as may be necessary or desirable, or !
such as are generally engaged in by 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 |
CSC, $500 dollars, divided into two thousand, |
nine hundred and four $500 shares of the |
par value of seven $500 dollars each; pro-
vided that the amount to which the capital
stock of this corporation may be increased |
shall be one hundred thousand (sl00,00o.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 |
subscribed capital stock of this corporation
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 (hree) 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 ]
{ this corporation in any further sum than