The herald. [volume] (New Orleans, La.) 1905-1953, 1916-11-02

Article THE name and title of this cor
poration shall be the Mutual Resource De
velopment Company OF Louisiana, lnc.,' and
it shall exist and ENJOY succession by its
corporate name for a period OF ninety nine
t99) wears from the date hereof; to contract
to sue and be sued; to make and cor
porate seal, and the same TO alter and break
at pleasure: and to make and establish, as
well as alter and amend, from time to time,
such bylaws, rules and regulations, for the
proper government Of the affairs of this
corporation as may be necessary and proper
Its domicile shall be in New Orleans, La,
and all citations and other legal process
shall be served upon the president, and in
the event of his absence or inability 10 act
upon the vice-president or secretary, IN the
order named
Article 1.-THE capital stock of this cor
poration is hereby fixed at twenty-five thou
sand (S25,OOO.O0 dollars, divided and repre-
sented by two thousand FIVE hundred t25OO)
shares of the par value OF ten (SlOOO) dol
lars each. and may be increased to one hun
dred thousand (SlOO,O0OOO) dollars. Stock may
be paid for in money, in services duly rem
dered to the corporation. in property trans
ferred to the corporation.
This corporation shall become a going con-
Germ and shall be authorized to commence
business. when and soon as nifty (oto)
per cent of its capital stock shall have been
subscribed, and twenty-five t2ofo) per cent
shall have been paid for; all IN accordance
General Assembly OF the State of Louisiana
for the year 1914. r
Article III-The object and purposes OF
this corporation are hereby declared to be
anyone or more Of all of the following:
To develop natural resources within me
State of Louisiana by engaging IN the de-
velopment OF mineral deposits ands ana INC
products thereof, waters OF the state ana
products that may be produced theretrom'
and all other resources by which the state
NAV be enriched and the general good pro
noted -,
ment bv wholesome publicity OF the poten-
tial wealth of the State of Louisiana and 10
promote its progress by enlistlng united CO.
operation, financial and otherwise, OF all men
throughout the United States. nun ,.,s.
To buy, own, acquire, sell, exchange tease
donate mortgage, hypothecate ana 10 con-
tract 10 buy, sell, exchange ana tease az
kinds of property, real, personal ana 1 lnIHt.u
and to manage, operate impIovg1 H .;abte III
lands. mining claims, mineral rights, o..
weiIs and other real estate, and the lntetSst
ND right in any of said property, insofar
as the same may be incidental 10 us us''
rights and purposes; .,;,es for
developing. producing and Obtaining gas oli'
netrolcum, coal, asphatum, salt, sulphur ~
ore metals and minerals, and Volatle SUI
stances of all kinds, and to smei'; nrn"e md
manufacture the oil minerals iounu anu
"a buv and sell the same IN their cruue VI
state. -,
To buv. own, lease, build, erect or rem
buildings, machinery, fixtures ana aPp,,dd" he
md 10 maintain, operate and suspend tne
gane more especially for the storage OF OIL
gas and the piping of the same 10 ,PI,,
Of TRANSFORMATION, by the use oil machinery
and appliances: ,.. ~ %
receive goods and property belonging to ON
ers for storage, and 10 issue warehouse re.
ceipts therefor. and to charge and cohec'
therefor : ,1
To buv own, sell, construct, MAINTAIN ana
operate boats, ships, barges. or any other
watercraft whatever to carry and convey pas
sengers, goods, wares and mercnandlse VI
other property or commodity OF tI's eoipo,a
ton. or of others, for proht, and 10 charge
and collect compensation therefor,
To engage generally. as principal or man
datory: in buying and selling, retaining,
improving, cultivating and operating lanas,
in huying and selling, leasing and operating
dredges. ditchers and other machinery ana
implemeuts; in constructing owning leas-
ing and operating railroads, tramways' ca
nails and other means OF transportatloh .ee
essary or incidental 10 the proper conduct OF
it's 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 ana seIIins
same either in the original state or in man,
ufactured form, at wholesale or retail: ana
IL shall have authority generally to do all
things necessary or incidental TO the proper
conduct OF ITS afairs, Whelher sPeei"SaHJ
enumerated herein or not.
Article IV.-The corporate powers OF this
CORPORATION shall be vested in and exercised
bv board Of FIVE directors, a majority OF
whom. sitting at any time, snail eons'l,u,e
quorum for the transaction OF business,
said directors to be elected annually from
the second Tuesday Of the month Of J1nnu.
ar,y beginning in 1917. Each stockhoider
shall he entitled in person or by written
proxy to one vote for each share Of stock
owned by him and standing. in his name
on the books of the corporation. All elec,
regulations as may be determined by the
Board of Directors or as provided IN me
bylaws of this company, to be adopted by
the stockholders.
Article V.-No stakeholder shall ever be
held liable or responsible for the contracts;
faults or debts of this company. nor shall
any mere informality in its organization nave
Of exposing its stockholders to any LIABILITY