The herald., 1915-06-24

hundred and fifteen, before me, John R
Upton, a notary public, IN and for the parish
OF orleans, state of louisiana. duly commits
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
awaiting themselves of the laws of this state
relative to the organization of corporations
and more especially of act 267 of the acts OF
lsl4 page Isl, OF the legislative acts of this
STATE and act 252 OF 1910, page 1913, they have
covenanted and agreed, and by these pres.
ents do covenant and agree for themselves
| ana their successors and assigns to form
| themselves into a corporation and bodv mol.
itic for the objects and purposes and under
| the StipulatIons hereinafter set forth to.wit:
Article The name and title Of this COR
| Porauon snail be Kentucky Drilling Company,
| Incorporated, and under such title il Shall
| nave and enjoy succession and existence for
| period OF ninety nine years from date here
| OF; IL snail have power and authority to con-
tract sue ard be sued, make and cor
POrate seal, the same to break and alter at
| pleasure; to hold, sell, lease, mortgage hy-
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 contracts held bv il to-
| gether with all buildings, constructions and
improvements placed and erected on said
| lands, OF TO be placed erected thereon, as
| well as to issue bonds secured by such mort
| cages, such bonds to be issued in such
| amounts at such rate of interest and to run
| Tor such length of time not exceeding The
| term of said leases, as said lessees or gran.
| tees may determine; to buy and to hold stock
| IN any other company companies that NAV
ASSIST inns company IN its objects and pur-
poses; 10 make and issue notes and certifi-
| Gates of Indebtedness; TO name elect and an
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 for the management and busi-
| ness affairs of this corporation. and generally
| TO do every other act matter or thing neces-
| OF said business.
Article 1.-THE domicile of this corpora.
ton shall be in the city of New Orleans.
parish of Orleans, State of Louisiana ,ybere
all citation and other legal process Shall he
served upon the president, or in the absence
OF the president, upon the vice pre- sdent or
IN the absence of both, upon the secretary
Article III.-The objects and purposes of
clared to be:
% 10 acquire by purchase or lease, or
otherwise, lands in the Calcasieu Sulphur and
On helds of Louisiana, or in any other loca-
ton IN this state, 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 oiI
wells, or sink, or to be sunk shafts for
mining and to buy, lease, or otherwise acquire
drlIllng rigs or other machinery or apparatus
necessary to fully accomplish said purposes;
ana II oil or other minerals are found then
to market the same to the best advantage.
~ 10 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. |
NeyanGes, or to lease or suitcase all or any |
part thereof to any other persons or corpora- |
tons Tor the like purpose, and in order TO |
fulIy carry out said objects and purposes TO |
purchase pure; lease or otherwise acquire pipe |
INES iramways, railroads, boats, barges, tank
cars, locomotives, pumping stations, steam
pants, AIR plants, and all other machinery |
apparatus and paraphernalia necessary or in, |
cidental thereto.
90 To build, construct lease nurcbasa 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
porations, and to refine, smelt, manufacture
or otherwise work up by-products of said |
minerals TO operate the said plant and market |
the products 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
minerals as may be necessary or desirable.
or such as are generally engaged in by a
corporation of this kind
Article IV.-The capital stock of this cor.
poration is hereby fixed at the sum of eleven
thousand nine hundred (sll,9OOOO) dollars.
divided into seventeen hundred shares OF
the par value of seven dollars each; provided
mat the amount to which the capital stock
Oh TINS corporation may, be increased shall
De one hundred thousand (S1000O0OO) dollars
Fifty per cent of the capital stock of this
corporation must be subscribed for before the
ming 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 (three) of act 267 OF 1914 be in
all respects complied with.
NO stockholder shall ever be held liable
or responsible for the faults, contracts or
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 going concern until ten thou
sand (Sl000.00 dollars of the capital stock
shall have been issued and paid for. either
IN cash, services in property as afore.
said II any of the aforesaid stock of this
corporation is paid for in property in that
wo1 Of paragraph Of ast q 567 Se Of I9Iz
shall be strictly complied with.
Article V.-All the corporate powers of this
corporation shall be vested in and exercised
by board of directors 20 be composed of
hfteen stockholders, each of whom shall own
in his own right, during his term of office, at
least one full paid, non-pledged share of
SHdil Dc SnOWn Dy MS written I
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, il desired
by one and the same person.
The following named persons shall consti-
tute the board of directors of this corpora
lion, to-wit:
J. P. Unger, West Point, Miss: J. II. Car.
ruth, Jr., PIT. Allen, La; NJ K.sPearce, Bo-
yalusa, La; r. p. Stewart, Fulton, KY; ]. L.
Billiard, Bassic City, Miss; Frank Heiss,
Meridian, Miss; ]. d. King, Philadelphia,
Miss; J. G. Woods, New Orleans, La; (. L. !:
Martin, .Waynesboro,. Miss; w. w. Hines,
New Orleans, La; VIM. F. Falconer Tunis,
La; c. A. Davis, Collins, Miss; NJ T.
Woodward, New Orleans, La; ]. A. Bishop,
Biloxi, Miss; w. A. Collins, Hattiesburg,
Miss; with J. P. Unger, of West Point, Miss,
IS president; ]. L. Bullard, of Basic City,
Mss, as vice-president, and w. w. Hines,
't New Orleans, La, as secretary treasurer,
md these directors and officers shall serve
until the first Monday in July, 1916, or until
heir successors have been duly elected and
Qualified.
Thereafter the directors shall be elected
on the first Monday in July of each
year, beginning with the year 1916; all cleo
ions of directors shall be by ballot, and
Zach stakeholder shall be entitled to one vote
or each share of stock standing in his name
IN the books of the corporation, this vote to
De cast in person by proxy, and it shall
-equire majority of the stock present or
represented to elect.