The herald. [volume] (New Orleans, La.) 1905-1953, 1916-11-16

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this corporation are hereby declared to b,
| anyone or more of all OF the following:
| 10 develop natural resources within tht
State Of Louisiana by engaging in the de
| veloOment of mineral deposits, lands and thu
products thereof, waters of the state and
| the use that may be made thereof and The
products that may be produced therefrom
! and all other resources by which the state
may be enriched and the general good pro
| NOTED
| To prosecute such development and advance
ment by wholesome publicity of the poten
| tial wealth OF the State of Louisiana and q
1 operation, financial and otherwise, OF all mer
| throughout the United States.
| To buy, own, acquire, sell, exchange, lease
| donate, mortgage, hypothecate and 10 con
| tract to buy, sell, exchange and. lease all
| kinds OF property, real, personal and mixed
| and TO manage, operate, improve and develop
! lands. mining claims, mineral rights, oil
| wells and other real estate, and the interest
| and right in any Of said property, insofar
| as the may be incidental 10 its use
rights and purposes.
To drill, open and work wells or mines fol
I developing, producing and obtaining gas, oil
| petroleum. coal, asphaltum, salt, sulphur, etc.
| ore, metals and minerals, and volatile sub.
stances OF all kinds, and to smelt, refine OF
! manufacture the oil or minerals found and
| to buy and sell the same in their crude OF
| manufactured state.
To buy, own. lease. build, erect or rent
| bull dings, machinery, fixtures and appliances
I
| same, more especially for the storage Of oil
| gas and the piping of the same to points
OF transportation, by the use of machinery
| and appliances.
J To erect and maintain warehouses and to
4 receive goods and property belonging 10 9TH
ers for storage, and to issue warehouse re.
| ceipts therefor. and TO charge and collec,
| compensation therefor.
| To buy, own, sell, construct, maintain and
| operate boats, ships, barges, any other
| watercratt whatever TO carry and convey pas
| sengers, goods, wares and merchandise OF
| other property commodity of this corpora
| tion, or of others, for profit, and TO charge
| and collect compensation therefor.
To engage generally, as principal or man.
datory; in buying and selling. retaining,
| improving, cultivating and operating lands
| in buying ard selling, leasing and operating
| dredges, ditehers and other machinery and
implements; IN constructing, owning, leas-
nails and other means of transportation nee.
essary or incidental TO the proper conduct OF
| its private business, but not for public SER
vice; in buying and selling, personal prop
erty of all kinds; and in manufacturing pro-
ducts of the soil, and buying and seliirs
4 same either in the original state or in ma 4.
ufactured form, at wholesale retail; ard
| i shall have authority. generally TO do all
conduct Of its affairs, whether specifically
| enumerated herein or not
Article IV.-The corporate powers of this
corporation shall be vested in and exercised
| whom, sitting at any time, shall constitute
| a quorum for the transaction of business.
| said directors to be elected annually from
the second Tuesday Of the month Of Janu.
shall be entitled in person by written
proxy to one vote for each share of stock
owned by him and standing. in his name
tons shall be held under such rules and
regulations as may be determined by the
Board of Directors or as provided in the
bylaws of this company, to be adopted by
Article V.-No stakeholder shall ever be
held liable responsible for the contracts,
faults or debts OF this company, shall
the effect of rendering this charter null, or
of exposing its stockholders 10 any liability
beyond the unpaid balance due the shares
of stock owned by them, and in accordance
Act No. 267 of the General Assembly of the
State of Louisiana for the year 1914
Article VI.-This act of Incorporation may
be changed, modified or altered, or this cor
poration may be dissolved with the assent
Of the stockholders owning two-thirds of the
issued stock of this corporation, at a meeting
of the stockholders convened for that pur-
pose and after legal and proper notice shall
have been given TO each OF said stockhold-
ers, except whenever, in the judgment of the
board of directors, it shall be deemed advisa.
Bile and for the benefit Of this corporation,
that it should be dissolved, the board, within
to that effect, by a majority Of the whole
board at a meeting called for that purpose,
of which meeting each director shall have
received at least three days notice. shall
ton to be mailed to each stockholder, to-
gether with a notice Of a meeting of the
stockholders, to be held at the Office of the
corporation. to take action upon the resolu-
ton SO adopted by the board of directors.
In case of the dissolution of this corporation
by the expiration of its charter, or otherwise,
the stockholders shall elect three liquidators
from among their number, who shall have
full power and authority to liquidate and
settle the business and affairs of the COM
pany; in case Of death or inability Of any
Of said liquidators, the survivor or survivors
shall appoint a successor or successors to
Article VII.-Until the election to be held
on the second Tuesday of the month Of Jan:
uary.. 1917, the following stockholders shall :,
constitute the first board of directors: Will
liam S. Holmes, Tallulah, Louisiana; Thomas
j. Clay, Whtecastle p. o., La; Donald Des-
pain, Grunewald Hotel, New Orleans, La. !;
louisiana; c. Y. smith, Grnnewaid Hotel,
Si Article eE VfiI.@The capital stock of this
corporation, after having been transferred
shall not be sold or transferred or offered
for sale or transfer by such subscriber, with
out first having offered such stock to this
corporation and TO the stockholders of this
corporation al the tncn OF Ndiuc
thereof, which market price shall be ascer-
tanned by the then prevailing market price
of such stock, If such price prevails at such
time, when If not, the book value of such
stock shall be ascertained either by an agree.
ment of the parties, or by two competent and
experienced business men. one to be chosen
by the subscriber and the other by this cor
poration or the stockholders or stockholder,
prospective purchaser, when il said two par
ties cannot agree upon a book value, such
two parties so chosen 10 choose a third
party, when the majority opinion shall pre-
vail In the event of the demise of holder
or holders of the stock of this corporation,
the administrator, executor or representative
Of his estate to Immediately tender such
stock to this corporation and the stockhold-
ers thereof On the same basis. Such offer
and tender to be made by the holder or hold
ers Of such stock to this corporation and the
stockholders thereof by the mailing of a reg
addressed to the last known addresses Of this
corporation and said stockholders. Such offer
or tender to remain open for q period of
thirty 600 days from the date Of the mail
ing Of such registered letters, when If not
awaited of, such holder or holders to be re-
leased to make a sale transfer as he
sees ht. In the event Of this corporation
not availing itself of such offer or tender
such stock so offered to be equally pro rated
between the stockholders of this corpora
ton should they so desire to avail them
selves thereof, when IL they do not such stock
might be purchased by such stockholders 90
desiring to acquire same. To such extent all
stock as issued by this corporation shall be
non ne gotiable.
Article IX-The subscribers hereto have