The herald. [volume] (New Orleans, La.) 1905-1953, 1920-06-17
CHARTER OF TULANE OIL LAND AND
IMPROVEMENT COMPANY, INC,


United States of America. State of Lou
i>iana. Parish Of Orleans. City of New
Orleans Ec il known Ilat on this 3lSt
our Lord. one thousand nine hundred aud
twenty. and of the independence of the
nited States of America. the one hun
drcd and forty fourth. before me- Edward
Alexander Parsons. a notary public. in
and for the parish Of Orleans. state Of
Louisiana. duly commissioned and quail
fled. and i'm the presence of the witnesses
hereinafter named and undersigned, per
SOnally came and appeared the persons
whose names are hcreuuto subscribed and
who declared that availiug themselves of
III" provisions of the general laws of the
stat" of Louisiana. relative To the organ
iZati"n of corporations, they have cove
nHHtcd and agreed. and do by these pres
"nt>. covenant and agree and bind. form
and constitute themselves. as well as such
other persons a. may hereafter join or be
come associated with them. into an as
SOciatiOu and body polite in law for the
objects and purposes and under the agree
meutS 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
I the constitution and laws of the state of
Louisiana upon corporations. 1t shall eX-
list for period of ninety years. I'M
less otherwise dissolved.
II 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 10 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
| rNing on of its business. and to name.
elect and appoint managers. directors and
| clerks or other employees to properly con-
| duet its corporate business and to make
| such bylaws. rules aud regulations. as
may he found necessary or desirable for
! the management of this corporation. and
generally to do every other act. matter or
| thing. necessary for the complete and
| proper carrying on of said business.
| ARTICLE 1.-THE domicile of this cor
poration is hereby declared to be in the
| city of New Orleans, state of Louisiana.
| All citation and other legal process shall
| he served upon the president. and in the
| absence of the president, upon the vice
president, and in the absence of both of
| them, upon the secretary treasurer of the
| corporation.
| ARTICLE III.-The objects and pur-
| poses for which this corporation is or
| ganized, and the nature of the business TO
! he carried Oh by it are hereby declared
| TO be:
| To acquire. own, buy. lease. sell mort
| gage, hypOthecate and pledge property.
| real, personal aud mixed. and particular
| ly to develop mineral. oil and gas lands
| in the state of Louisiana, other states of
| the United States of America. and for
eign countries, and generally to do and
| engage in any business. enterprise or I'M
| dertaking connected with. growing out of,
| incidental or Sermanc TO any of the OBJ
| jectS and purposes set forth in or con
| templated by this charter.
| ARTICLE 1N.-The capital stock of this
| corporation is fixed at tae sum of twenty
| five thousand ISL .00O.0OD dollars. divided
| into two hundred fifty shares of $4,000
| each. Said stock shall be represented by
| certificates of stock, SiSnec by the presi-
| dent and the secretary treasurer, and in
| the absence or inability to act of the
! president, by the vice president. Said
| stock shall be issued at such times and in
| such amounts, for such price and upon
| such terms and conditions as the board
| of directors may see fit and proper, and
shall be paid for in cash or its equiva-
| lent in property, as the board of direC-
| tors may decide. All shares shall be full
paid and non asSessable. Said stock shall
| be transferable only on the books of the
| company, and on the surrender or due
proof of loss of the original certificate
| No stakeholder shall have the right Ia
| sell or otherwise dispose of his stock in
| this corporation without first offering
| same to the corporation ut the book valu-
alton thereof, as determined by the books
OF lnlS company, anu TINS corporation l.
authorized to purchase said stock at said
book valuation for the benefit OF the other
stockholders of the corporation
The capital stock may be increased Il
one hundred thousand (S1O0,000OO dol
| lars.
ARTICLE V.-This corporation shall be
gin business and be a going concern n,
soon as one half of its capital stock shall
have been subscribed and as soon as on,
half the amount of said subscription ha'
been paid for.
ARTICLE NI.-All the corporate pow
ers of this corporation shall be vesteC
in and the management and control of il,
business and affairs conducted by boarC
of directors, composed of seven stock
holders, four of whom shall constitute
quorum; no member of said board to owl
or subscribe for less than one share o
stock Said directors shall be elected b!
ballot at a general meeting of the stock
holders on the second Monday of May
1921. and annually thereafter on that day
Every stakeholder shall be entitled. in per
son or by proxy, to one vote for ever!
share of stock owned by him. All cleo
tons shall be held under such rules ant
regulations as may be determined by sale
board of directors. Ten days written no
tice, directed to the last known address o
every stakeholder shall be given of al
elections
The directors thus elected shall con
tinue in office until the second Monda,
of May, 1922, or until their successor
shall have been elected and qualified; an,
failure to elect officers or directors shall
not be considered as a forfeiture of thi
charter. Any vacancy occurring in tn
board of directors shall be filled by tn
remaining directors for the unexpire,
term. 4 majority of the stockholders at
meeting shall constitute quorum for tn
transaction of any business.
Said board of directors shall. Mt its frs
meeting after it's election. elect out of 1t
own members president, a vice presi
dent and a secretary treasurer; and salt
board shall have the power in its discre
ton to unite two or more officers, tn
same to confer upon one person. Sal,
board shall have the power to appoint an,
dismiss such officers, agents. clerks an,
employees as they may deem advisabl
and to fix their compensation.
Said board of directors Is special,
vested with the power and authority I
mortgage or pledge the property. real
: personal and mixed Of the corporation a
they may deem fit and proper; to pur
chase. hold. own, mortgage, pledge. leas
, and dispose of real estate. improved an,
unimproved. city or country; to execnt
mortgages. issue notes, bonds and othe
} evidence Of debt, and to borrow and len
money on same to and from indiyiduals