The herald., 1919-07-24
CHARTER OF M. & L. OIL ASSOCIA-
TON, INCORPORATED.

july rug -
CHARTER OF M. & L. OIL ASSOCIA-
TON, INCORPORATED.
United States of America, State of Louis
lana, Parish OF Orleans City of New Or
leans. Be it knawn that on this fourth day
of the month OF June, in the year of our
Lord one thousand, nine hundred and nine
teen, and of the dependence of the United
States of America the, one one hundred and
tary Public, duly commis sioned and quail
fled and and for the City of New Orleans,
Parish of Orleans, therein residing and in
the presence of the witnesses hereinafter
named and undersigned. personally came and
appeared the several parties whose names
are hereto subscribed, all of the full age of
majority and resident of this City, who sew
orally declared that availing themselves OF
especially of Act 267 of 1914, in such cases
made and provided, they have formed and
organized, and by these presents do form
and organize themselves into a corporation
for the objects and purposes and under the
stipulations and agreements hereinafter set
forth and expressed, which they hereby &C
cept and adopt as their charter, to-wit:
ARTICLE 1.-The name and title of the
Corporation hereby formed is declared 10 be:
Mississippi and Louisiana Oil Association
incorporated Abbreviated M. & L. Oil As
ISOLATION, Incorporated"
ARTICLE II-Its domicile shall be in the
City of New Orleans, State of Louisiana,
where all stockholders and Directors meet
ings must be held: provided, that with the
written consent of all the directors valid
meetings of directors may be held outside Of
the State or within the State elsewhere than
at it's domicile; and shall have and enjoy
succession for a period of ninety nine 99)
years from date hereof.
ARTICLE III.-All citation or legal pro-
cess shall be served on the President and
General Manager and in case OF his absence
or inability to act, upon the Nice-President
or Secretary-Treasurer.
ARTICLE IV.-The objects and purposes
for which this corporation is organized and
the nature of the business to be carried on
by it are declared to be: To locate, pur-
chase, lease, suitcase, acquire land and
prospect, drill, bore sink, oil, gas and sui
phur wells; to buy, sell and lease lands and
leases to land to produce convey and trans
port oil, petroleum, sulphur and gas; to carry
on the business of storing and prospecting
for, producing, storing, piping and transport
ing buying and selling oil. petroleum., gas
and sulphur and the products and by-products
thereof; to buy sell, furnish and supply the
maintain oil, gas and sulphur wells; to
build construct, purchase maintain and op-
crate warehouses, pumping plants, pipe. lines,
refineries, factories mills, workshops labora-
tories, and dwelling houses for workmen and
others; to build, construct, operate and main
tain telephone lines; and generally to do
and perform all things necessary to properly
conduct business for which it is incorpo-
rated.
ARTICLE V.-The capital stock of this
corporation is hereby fixed at the sum OF
Fifty Thousand Dollars &s.0oO.W), divide
into Five Hundred shares (O0) of the par
value of One Hundred Dollars $4,000 each,
of which Twenty-seven Thousand Dollars
100000, or more than one-half of the CAPT
tai stock has been subscribed for; which stock
may be issued full paid and non-assessable
or mixed, transferred for value or for SER
vices actually rendered to said corporation.
Said capital stock may be increased to Two
Hundred Thousand Dollars ($200,0OO.M).
ARTICLE Wall the corporate powers of
this corporation shall be vested in and ex-
ercised BY a Board of Directors consisting of
stockholders, the majority of whom shall
constitute a quorum for the transaction of
all business. The first Board of Directors
fshall be composed Of the following stock,
Carondelet ST., New Orleans. La; L. NJ. Dali
garn, residing at 1909 Nashville Ave, New
Orleans, La; Karl a. Bugbee residing at
Traphagen, residing at 1908 Jackson Ave,
New Orleans, La; NJ. L.. Meyer, residing at
3s S. Hagan Ave, New Orleans, La; Henry
Gayle, residing at 219 ST. John ST., San An
Q. NJ. Corps, U. S. Army, New Orleans, La,
E. G. Larson, residing at 4224 St Claude
St, New Orleans, La; w. F. Sergeant, resid-
ing at US yourdon Ave, New Orleans, La.
who shall hold their office until the lst
Monday of June, 1920, or until their success.
sors have been duly appointed and quail
fled.
The first officers of this corporation shall
be: Fred L. Wilson, President and General
Manager; i. NJ. Dalgarn, Vice-President and
Carl A. Bugbee. Secretary reasurer. who shall
hold their office until the LIST Monday of
June, 1920, or until their successors have been
duly appointed and qualified. In case OF
the resignation or death of any of the Di.
~rectors during their term Of office, the said
serving directors shall appoint and fill all
vacancies from among the stockholders, On
the lst Monday of June, 1920, unless said day
succeeding judicial day and annually there.
after, an election for Directors shall be held
at the office of the Company, under the sup
ervision of three commissioners, Notice TOT
annual meetings and for stockholders meet
ings shall be given by the Secretary-Trea
urer, to each stakeholder, either in person
or by depositing a written notice in the Posi-
Office, properly addressed TO him, at least
IS days before said meeting.
All stockholders shall vote, at all stock
1 holders meetings, By a ballot, and a majority
of the stock present shall govern on al
questions, save as otherwise provided by
law. Each share of stock shall be entitled
to one vote, either in person or by writer
ARTICLE VII-This Act of Incorporation
may be changed, modified. or amended, OF
this corporation may be dissolved with tn'
assent of two-thirds of the capital stock is
sued at a meeting of the stockholders con
vened for that purpose, after thirty 600 day
prior written notice of such meeting shall
! have. been mailed to the last address of eacl
! ! stakeholder by the Secretary-Treasurer of tn
= = Company and should at any meeting it shoul'
! be decided to dissolve the corporation, eithe
by limitation of its charter, or for any othe
: cause. its affairs shall be liquidated by thre
= (O commissioners to be selected from anon
n the stockholders. Said commissioner shal
S remain in office until the affairs of the col
l. ~poration shall have been liquidated- In cas-
of the death of any OF said commissioner
II the survivor or survivors shall continue
act. -.
ARTICLE VIII.-No stakeholder Of tn
Corporation shall ever be held liable for Oh
contracts or faults thereof, in any furth,
3, sum than the unpaid balance due to Il
corporation on the shares of stock owned .
g., him. nor shall any mere informality in org
10 ~nization have the effect of rendering tn
charter null or exposing a stakeholder