Abbeville progress. (Abbeville, Vermilion Parish, La.) 1913-1944, 1916-03-11


the agreements and stipulations follow,
ing, to-wit:
ARTICLE l.
The name and title of the Corporation
shall be the Vermilion-C addO Oil Com
pany Inc, and under said name it shall
have and enjoy all the rights, powers and
privileges granted by the law to Corpor
atoms; and it shall exist for period of
ninety nine years from and after the
date hereof, unless sooner dissolved III
the manner hereinafter provided for. 1t
shall have the power to contract, sue
and be sued; to make and use a Corpor
ate seal and the SAME to Break and al
ter at pleasure; to hold, receive, pur-
chase and convey, as well as, to mort
gage, hypothicate and pledge property,
both real and personal, issuing negotia
bic bonds and notes, to name and APP
point such managers, directors, officers
and agents and other employees as its
interest and conveniences may require;
and to make and establish such BY laws
rules and regulations for the proper
management and regulation of the bust
ness of said Corporation as may be neces-
sary and proper and the same to alter
and amend at pleasure.
ARTICLE II
The domicile of said Corporation shall
be in the Town of Abbeville, Parish of
Vermilion, State of Louisiana, and all
citations or other legal process, shall be
served upon the President, or in the
event OF his absence from said Parish,
then upon the Vice President.
ARTICLE III.
The objects and purposes for which
this corporation is organized are said to
be; To purchase, receive, hold, lease,
or otherwise acquire mines, mineral
lands, mining rights. claims and privile-
ges, or real estate, i'll the State of Louis
lana or elsewhere, and to prospect, ex-
plore, examine, test, and develop open
work, or i'll any manner use or turn
same to advantage; to prospect and
search for natural gas, oil, petroleum,
coal, salt, sulphur or other mineral or
elements of use or value; to investigate
examine and test lands and localities
where same are supposed to exist, and
to drill, bore, dig or put down such
wells, pits or shafts, as may be deemed
expedient for that purpose; to mine, dig
blast, excavate. pump, or otherwise OBJ
tain or procure, natural gas, oil, petro-
leum, coal, salt, sulphur, or other min
eral substance of use or value, and to
prepare, purify, refine, manufacture
transport, convey, store, warehouse sell
or otherwise dispose of same; TO build,
erect, make, repair, maintain and oper-
ate any buildings, pumps, machinery,
apparatus, works, railroads, tramwavs.
boats, barges, canals levees, reservoirs,
pipe lines, tanks, or other things that
may be necessary to accomplish and
carry on the objects and purposes here
in set forth; and i'll general, to do any
act or thing necessary, convenient or in
cidental to the accomplishment of said
objects and purposes.
ARTICLE ".
The capital stock of this Corporation
is hereby fixed at the sum of Thirty
Thousands Dollars, represented by Three
Thousand shares, OF the par value of
Ten Dollars each, which capital stock
may be increased or decreased in the
manner provided by the laws of the
State of Louisiana. This Corporation
shall be going concern as soon as
Fifteen Thousand Dollars of the Capital
Stock is subscribed and fifty per cent OF
the subscribed stock paid in. This stock
shall be paid for IN cash, or its equive-
lent in personal or real property receiv-
ed, services rendered, or lab perform
ed, in such manner and on such terms
as may be fixed by the Board of Direc-
tors; but no Certificate shall issue for
said stock until the same has been paid
for. AT all elections, each share of stock
shall be entitled to one vote to be voted
either by the holder or his proxy.
No shares OF the capital stock of the
Corporation shall be transferred except
upon the books of the Corporation, nor
until the certificate of stock shall have
been delivered to the Corporation and
duly cancelled. All certificates of stock
shall bear the seal of the Corporation and
be signed by President and Secretary.
ARTICLE
All the powers of said corporation
shall be vested iii and exercised by the !
Board of Directors composed of not less
than hye members nor more then fifteen /
members. The additional members in |
excess OF five to be added from time TO
time at the discretion of the Board of |
Directors until the fall number Of fifteen |
10 named. Each director must hold and |
own "ne share Of the said Corporation |
COST lnously during the incunbency of
gxtffnA GO
at general meeting of the stockholders
OH the first Wednesday in March 1916 (
and thereafterto be elected at such meet.
ing on the first Wednesday of March of
each year. Notice of such election shall
be published In a Newsoansk ;ssr.d at