The herald., 1915-08-26

Us o prospecting for and obtaining oil.
gas, salt, sulphur or other minerals "a 0, -
that end to drill or cause 70 he S,;,i ana 70
| weHs' OF sink, or cause to be sunt So.
ior mining and to buy, lease. or otbe-,,,;so
aoqulre drilling rigs or other machinery or
apparatus necessary to fully accomnI;sS "a
purposes; and if oil or Other r;IarsI 'aIu
| advantage. " 'ie oest
W 10 engage in the distribution Of oil
gas salt, sulphur or other mineraIs ai,I,
| produced by this corporation ~ o,b ei.lei
| sons or corporations by means of nine H.
tramways, railroads, boats bargeS pr -,
conVeyances, or to lease or suitcase ali ~
Hot. PSIs tlere3i 10 any other persons or cor
poisuUhs ior the like purpose, and in order
| 10 iully carry out said objects and nurnosss
70 purchase, lease, or otherwise acquire n;ne
mes tramways railroads, boats barges. t7nk
cars, locomotives, pumping stations ste,r,
plants, air plants, and all othrT n,acb;na,
| cidental thereto VI III
| 90 10 build, construct, ,rase, purchase o-
I neI"Ise acquire buildings, machinery and
other apparatus tor refining, smelling man.
ufacturlng, or otherwise working IN The ~
| ducts OF mineral lands either produced nv H.
corporation or other persons or corporations
aiu 10 rThhe' Smelt, manufacture, or other.
wise work up by-pToduCts of said minerals
10 operate the said plant and market the pro.
| ducts or by-products, manufactured. TO IN.
! best advantage ~ '''e
a. 10 carry on such other business amer
tanning to oil, gas, salt, sulphur or Other mn
| erals as may be necessary or desirabl. nv
such as are generally engaged in by a cor
| poration of this kind
Article 4.-Ihe capital stock of this cor
pordtlon IS hereby fixed at the sum Of twenty
| thousand, three hundred and twentv.rigbt
| tS@O'5ZSOO) dollars, divided into two thousand
! nine hundred and four (29O4 shares NJ tbe
par value OF seven $500 dollars each; pro-
Vlded mat the amount to which the canItal
stock OF this corporation may be increased
shall be one hundred thousand (slOO.O0OC
dollars.
Fifty per cent Of the capital stock of this
corporation must be subscribed for before the
| hllng Of the articles Of Incorporation The
| subscribed capital stock OF this corporation
Shal be payable IN cash, property, real or
personal or Tor services performed or rem
dered; and provided that If the stock Is NOT
! paid Tor IN cash that the law as provided for
| IN section (threeJ OF Act -o7 Of 1914. be in
| all respects complied with
No stakeholder shall ever be held liable or
responsible tor the faults, contracts or debts
| OF this corporation in any further sum than
| the unpaid balance due the corporation on
| the share OF stool! subscribed for by him.
! nor shall any mere informality in the organ
ization 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 going concern until ten thou
sand (SlO,CDOO) dollars OF the capital stock
| shall have been issued and paid for either
| IN cash, services or in property as aforesaid
| II any of the aforesaid stock of this corpor.
alton is paid for in property in that event
inc terms and provisions of Section (two)
| OF paragraph &C. of Act 267 of 1914 shall be
| strictly complied with
Article o.-All the corporate powers of this
| corporation shall be vested in and exercised
| by board OF directors to be composed OF
| SIX to) stockholders, each OF whom shall own
| IN his 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, hive OF whom shall constitute a
quorum tor 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 quorum.
The officers of this corporation shall consist
| OF president, vCe-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 corporation,
| to-wlt: w. A. Collins, Hattiesburg, Miss /;
John &; Woods, New Orleans, La; L. H.
New Orleans, La; w. W. Hines, New Or,
| leans. La; W. c. Riggs Hattiesburg. Miss
with L. II. Price, of New Orleans, La, as
president; John G. Woods, of New Orleans,
| La, as ce-president; Thomas G. Price, Of
New Orleans, La. as treasurer, and W. c.
Riggs, of Hattiesburg, Miss, as secretary /;
| and these directors and officers shall serve un.
I'll the FIRST Monday in March, 1916, or until
their successors have been duly elected and
qualified.
Thereafter the directors shall be elected
annually on the first Monday in March of
each year beginning with the year 1916; 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 in person or by proxy, and it shall
require a majority of the stock present or rep
resented to elect.
Failure to elect the board of directors on
the first Monday in March, 1916, or annually
thereafter shall not work forfeiture of this
charter, but the old board of directors shall
remain in office until their successors are
| elected and qualified.
Article g. The board of directors shall hold
regular meetings at such times shall be
fixed in the bylaws of this corporation These
meetings shall be held at the domicile 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 shall be required to call such special meet
ings 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 the board either
from death, resignation. 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-
draft suitable bylaws for the government of
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 it shall be required to recognize the
transfer the new holder of said stock. The
| total amount of the subscribed stock as here
| inabove set forth is the sum OF ten thousand,
one hundred and sixty-four Cl0,1640O) dol
| lars, which is hereby authorized TO be issued
| fully paid and non. assessable, 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-
pose after prior notice in writing to each
| stakeholder 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, the earlier dissolution of this corpora
| ton for any cause, its affairs shall be liqui-
dated by one or 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 20 thirty) of Act 267 of
| 1914.
Article l0-The appearers hereby declare
that they have subscribed to the following
number of shares OF the capital stock of this
| corporation, to-wit:
w. A. Collins, Hattiesburg, Miss. fourteen
hundred and twelve shares; John G. Woods,
| New Orleans, La, ten shares; L. III. Price,
New Orleans, La, ten shares; Thomas G..
prir Nau, nria ton NJ