The herald. [volume] (New Orleans, La.) 1905-1953, 1920-07-01

CHARTER OF TULANE OIL LAND AND
IMPROVEMENT COMPANY, INC.
Tinted States of America. State of Lou
iSiana. Parish of Orleans. City of New
Orleans. BE it known. that on this 3lst
day of the month of May, in the year of
our Lord. one thousand nine hundred and
twenty and of the independence of the
United States of America. the one hun
drcd and forty fourth, before me, Edward
Alexander Parsons. n notary public, In
and for the parish of Orleans. state of
Louisiana duly commissioned and quail
fled. and in the presence of the witnesses
hereinafter named and undersigned. per
Sonally came and appeared the persons
whose names are hereuntO subscribed and
who declared that ayailng themselves of
the provisions of the general laws of the
state of Louisiana. relative to the organ
iZation of corporations, they have cove
nauted and agreed. and do by these pres
cntS. covenant and agree and bind. form
| and constitute themselves. as well as such
| other persons as may hereafter join or be
! come associated with them. into an as
| ISOLATION and body polite in law for the
| objects and purposes and under the agree
| mentS and stipulationS hereinafter set
| forth:
| ARTICLE 1.-The name, style and title
| of this corporation shall he: Tulane Oil
| Land and Improvement Company. Inc
| and under that name il shall have and
enjoy all the rights, privileges. advan-
| tageS, power and authority. conferred by
4 the constitution and laws of the state of
Louisiana upon corporations. 1t shall eX-
| list for a period of ninety nine years, un-
! less otherwise dissolved.
| 1t shall have the power and authority.
! in its corporate name, to contract, to sue
, and he sued; to make and use a corporate
seal. the same to break, alter or amend
| at pleasure: TO buy and sell. to hold, own.
lease, mortgage, hypOthecate and pledge
property real, personal and mixed. neces-
| Sary, incidental to or proper for the car
| rying on of it's business. and to name
elect and appoint managers. directors and
clerks or other employees to properly con-
duct its corporate business and to make
such bylaws, rules and regulations, as
may be found necessary or desirable fol
the management of this corporation. and
generally to do every other act. matter oil
thing. necessary for the complete and
proper carrying on of said business.
ARTICLE 1.-THE domrcile of this cor
pOratiOn is hereby declared to be in thu
city of New Orleans, state of Louisiana
All citation and other legal process shall
be served upon the president, and in tn
absence of the president, upon the vice
. president. and in the absence of both o
them, upon the secretary treasurer of tn
corporation.
+. ARTICLE III.-The objects and pur
poses for which this corporation is or
gained, and the nature of the business {
J be carried on by it are hereby declare
to be:
To acquire. own, buy, lease sell mort
q gage, hypothecate and pledge property
u real, personal and mixed, and particular
:, ly to develop mineral, oil and gas land
y in the state of Louisiana, other states {
u the United States of America, and fol
eign countries, and generally to do an
engage in any business. enterprise or III
dertaking connected with, growing out o
incidental or germane 10 any of the oil
jects and purposes set forth in or col
J. templated by this charter.
ARTICLE IV.-The capital stock of tn
corporation is fixed at the sum of twent,
4 five thousand (S25,OO0.O0) dollars divide
r into two hundred fifty shares of $780,
st each Said stock shall be represented /
ne certificates of stock, SfgneG by the pres
n dent and the secretary treasurer, and
IS. the absence or inability to act of Il
Id president, by the vice-president. Sa
r stock shall be issued at such times and
he such amounts. for such price and up,
n such terms and conditions as the boa
nd of directors may see fit and proper. al
Sc shall be paid for in cash or its equiv
e. lent in property, as the board of dire
a tors may decide. All shares shall be fl
he paid and non assessable. Said stock sh;
10 be transferable only On the books of I
ch company, and on the surrender or d
tie proof of loss of the original certifica
RS, No stakeholder shall have the right
p sell or otherwise dispose of his stock
ey this corporation without first Offeri
same to the corporation at the book val
~ alton thereof, as determined by the boo
IT. of this company, and this corporation
authorized to purchase said stock at 50
Or book valuation for the benefit Of the 9th
Dr. stockholders of the corporation
The capital stock may be increased
IT one hundred thousand (S100,000.00) d.
ie- lars.
ct ARTICLE v.-This corporation shall
ms gin business and be going concern
soon as one half of it's capital stock sh
all have been subscribed and as soon as @
ted half the amount ,of said subscription
the been paid for.
, arT ARTICLE VI.-All the corporate DO
90 ers of this corporation shall be vest
a in and the management and control of
70 business and affairs conducted by a bof
of directors, composed of seven sto,
holders, four of whom shall constitute
MS quorum; no member of said board TO q
ely or subscribe for less than one share
len stock. Said directors shall be elected
pie ballot at a general meeting OF the stO
wo holders on the second Monday Of NJ
par 1921, and annually thereafter on that d
per Every stakeholder shall be entitled in d
ana son or by proxy, to one vote for ey
De share of stock owned by him. All el
OF tions shall be held under such rules 3
W, regulations as may be determined by s
ioi- board of directors. Ten days written
tice, directed to the last known address
Dw- every stakeholder shall be given of
and elections
pm The directors thus elected shall c
De tinue in office until the second Mon,
OF OF May, 1922, or until their success
1ay shall have been elected and qualified;
failure to elect officers or directors 81
di not be considered as a forfeiture of
its charter. Any vacancy occurring in
its board of directors shall be filled by
the remaining directors for the unexpi
and term. A majority OF the stockholders a
the meeting shall constitute a quorum for
tors transaction of any business.
heir Said board Of directors shall. at its (
ana meeting after its election, elect out of
OF own members a president, a vice DR.
eet- dent and secretary treasurer; and
cen board shall have the power In fits dis,
ers; ton to unite two or more officers,
all same to confer upon one person. s
leht board shall have the power to appoint
!, OF dismiss such officers, agents, clerks
ing employees as they may deem advisi
ave and to fix their compensation.
he Said board of directors is speci
vested with the power and authority
lee mortgage or pledge the property, !
ear personal and mixed Of the corporation
OF they may deem fit and proper: to I
on chase. hold, own, mortgage, pledge. Il
ran and dispose Of real estate, improved
ere unimproved, city or country; to exc,
mortgages. issue notes. bonds and Of
this evidence Of debt, and 70 borrew and