The herald. [volume] (New Orleans, La.) 1905-1953, 1916-11-23

| To develop natural resources within the
State of Louisiana by engaging in the de-
| velopment OF mineral deposits, lands and the
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 10
| promote its progress by enlisting united CO.
/ operation, financial and otherwise, of all men
| throughout the United States.
To buy, own, acquire, sell, exchange, lease,
| donate. mortgage, hypothecate and to 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
| as the same may be incidental TO its use,
! rights and purposes
| To drill, open and work wells or mines for
developing, producing and obtaining gas, oil,
| petroleum, coal, asphaltum, salt sulphur, etc,
ore, metals and minerals, and volatile sub
| stances of all kinds, and 10 smelt, refine or
| manufacture the oil or minerals found and
| to buy and sell the same in their crude or
manufactured state.
| To buy, own, lease, build, erect or rent
| buildings, machinery, fixtures and appliances,
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.
4 receive goods and property belonging to 9TH
| ers for storage, and to issue warehouse re-
ceipts therefor. and TO charge and collect
compensation therefor.
To buy, own, sell, construct, maintain and
operate boats, ships, barges, any other
watercraft whatever to carry and convey pas
sengers, goods, wares and merchandise or
other property or commodity of this corpora
| ton. 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 and selling, leasing and operating
dredges, ditchers and other machinery and
| implements; in constructing, owning, leas-
| ing and operating railroads, tramways, ca
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
| ducts of the soil, and buying and selling
same either in the original state or in man.
ufactured form, at wholesale or retail; and
| 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
by a board of FIVE directors, majority of
whom, sitting at any time, shall constitute
quorum for the transaction of business,
| said directors to be elected annually from
| the second Tuesday of the month of Janu-
airy beginning in 1917. Each stakeholder
shall be 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.
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 or responsible for the contracts,
faults or debts of this company, nor shall
any mere informality in its organization have
the effect of rendering this charter null, or
of exposing its stockholders to any liability
beyond the unpaid balance due on the shares
of stock owned by them, and in accordance
with the further provisions as provided by
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
Of the stockholders owning two-thirds of the
issued stock of this corporation, at meeting
of the stockholders convened for that pur-
pose, and after legal and proper notice shah
have been given to each of said stockhold-
ers, except whenever, in the judgment of the
board of directors, 1t shall be deemed advlsa-
BILE and for the benefit of this corporation,
that il should be dissolved, the board, within
ten days after the adoption of resolution
to that effect, by 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
cause notice of the adoption of such resolu-
ton to be mailed to each stockholder, to-
gether with a notice of 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
him or them.
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
]. Clay, Whitecastle P. o.. La; Donald Des-
pain Gunt St %s5d N sSp
Louisiana: c. Y. Smith, Grunewald Hotel,
N Article eT ViiI.EThe capital stock of this
corporation, after having been transferred
from this corporation to a subscriber thereof,
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 at the then market or book value
thereof, which market price shall be ascer-
tanned by the then prevailing market price
of such stock, II such price prevails al Sucn
time, when If not, the book value of such
stock shall be ascertained either by 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 Stakeholder,
prospective purchaser, when if said two par
ties cannot agree upon a book value, such
two parties so chosen to 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 reg
istered letter containing such offer or tender
addressed to the last known addresses Of this
corporation and said stockholders. Such offer
or tender to remain open for a period OF
thirty (50) days from the date of the mail
ing of such registered letters, when IL not
availed of, such holder or holders to be re-
leased TO make a sale or transfer as he
sees fit. 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 If they do not such stock
might be purchased by such stockholders so
desiring to acquire same. To such extent all
stock as issued by this corporation shall be
non equitable.
Article IX.-The subscribers hereto have
written opposite their respective names, the