New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1915-08-21
CHART-R OF
THE CHAIN OIL COMPANY, INC.
State Of Louisiana, Parish of Iberia

in the presence of the undersigned competent wit
nesses, personally came and appeared, the several
persons whose names are hereunto subscribed who
declare that they desire to avail themselves of Act
167 Of the Aets of the General Assembly Of the
State of Louisiana Of the year 1914, and the other
laws Of the State relative to the organization of
corporations, that they do BY these presents, bind
covenant, and agree and form themselves into
corporation and body polite in law together with
all persons who may thereafter become associated
with them, and to &C 4uire the ri hts and powers
of body corporate, they do thereby form them
selves inso corporation under the name and style
and for the purpose hereinafter set forth.
ARTICLE /.
The name and title of this corporation shall be
"The Chain Oil Company Company Inc" and
it, domicic is hereby established at New iberia,
iberia Parish, State Of Louisiana, and under its
corporate name. said corporation shall have the
power and authority to contract, and be sued
and to make and use eorporated seal and the same
to break and alter A. pleasure, and to hold receive,
purchase, mortgage or convey under is corporate
name, property both real and personal, for the
purpose of carrying out the objects thereof, name
and appoint such officers, directors, and other en-
ployees as may be permitted by law, to make and
establish bylaws, ru'es and regulations for the
proper management and regulations Of its affairs
as may be deemed necessary and proper, and to do
all other acts and things as may be permitted by
law, or may be necessary and proper to carry out
the objects and purposes Of this corporation.
Said corporation uni less sooner dissolved shall
exist for period Of thirty years.
Service Of citation, or other legal process shall
ibe made in conformity with the existing laws gov
erning the corporations in this State.
ARTICLE I.
The objects and purposes for which this corpora
ton is organized and the Of the business to
be carried on by it are hereby declared to be, to
engage in the business Of drilling upon other
wise exploring such lands as it may acquire in full
or in part ownership, or may lease or 10 which it
may acquire any rights whatever fer the purpose
of discovering oil, gas 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 as 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 neses-
sary and conducive and to the benefit Of said cor
poration.
ARTICLE
The Capital Stock shall be Fifteen Thousand
Dollars ($I5 5000 oo( divided into Six Hundred
(6oo) shares of the par value of Twenty Five
Dollars ($ls COY each, which stock shall be paid
for in cash at the time of its subscription, or in
such installments as the Board may direct, stock
may be issued in exchange for property or rights
actually received or purchased by the corpora
ton, or good will, other valuable considerations
as may be permitted by law, and after due ap-
praisment by the Board Of Directors Of said cor
poration.
No Stock Holder shall ever be held liable OF
responsible for the contract or failure of said cor
poration, in any further sum than that provided by
law, nor shallany mere informally in the organiza-
ton have the effect of rendering said chartes null
or expose said stock holders to any liability, other
than 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
said Act s67 of the year 1914. Ths smount to
which the capital stock may br increased is here
BY fixed at the sum of Forty Thousand Dollars
$50, 900 90.
The Board of Directors shall have the power
to fill vacancies in their number, caused by death,
resignation or otherwise, from among the stock
holders Of the corporation and said Board shall
have control Of the property Of this company and
shall 80 conduct, manage and use the same - in
their discretion they deem necessary, and which
is consistent with the organization and affairs Of
the company; 1t may adopt such rules and regua-
sions a. the affairs Of the corporation may re-
quire, employ such laborer,, clerks OF other
agents a. may appear desirable, to fix and deter
mine the salary Of each officer and other mpsyes,
all in accordance with law.
ARTICLE 4.
The cooperate powers of this company shall be
vested in sad exercised BY Board Of Seven dree-
tors, Four Of which shall Constitute quorum, for
the ,rannesins of business. There shall be elected
from the Board Of Directors, = President, Vice
Psesident, a Secretary and Treasurer. The
Board Of Directors shall be elected on the first
Monday in June Of each year. Until such cleo
tion, to be held in the year 1916, the following
persns shall constitute the fret Board Of Directors:
c. p. Sims, President, Adeline, La; Dr.. Paul N.
Cyr, Vice Psssideat, Jsaneretse, La; H. ].
Smith, Secretary, New Iberia, La; ]. g. Brous-
ssrd, Treasurer, St. Marinville, La; Robert c.
Taylor, New Iberia. La; l. s. Wooster, Center
vile, La and F. Z. Delahoussaye, St. Marsinvle,
La. At every election and meeting Of the Stock
Holders, each stock holder shall Be entitled to one
vote for each share of stock owned BY him; vot-
ing BY written proxy shall be allowed under the
provisions of Section II Of said Act s67 Of the
year 1914.
ARTICLE s.
Stockholders meetings for the election
of Directors shall be held annually on the
first Monday in June, at the domicile of
the corporation; notice thereof shall be
personally by depositing in the
Post Office, to the proper address to each
stakeholder, announcement thereof at
least fifteen days (l5) before the
At least two days (2) before
said meeting complete list Of the stock
holders entitled to voto, shall be open fer
inspection by the stockholders, at the
place of said meeting, all other meetings
OF stockholders may be conducted in &C.
cordance with section 10 of said Acts 2e7
Of tho year 1914.
ARTICLE s
This charter may be changed, or amen
dsd, or the corporation dissolved, under
the terms and conditions, and in accord
anse with said Act 267 Of the year 1914.
ARTICLE 7
Til. >o~co~.,;oc sh,li have ali IN. v;~b,. .ck