The herald. [volume] (New Orleans, La.) 1905-1953, 1920-12-16
CHARTER.

Parish of Orleans therein residing. and
in the presence of the Witnesses herein
after named and undersigned. personally
came and appeared the parties whose
names are hcreuntO subscribed. al of the
fun age Of majority, who declared, that.
ayailiEg themselves of the provisions OF
the laws of this State, relative to "urpor-
atiOnS. they have CoyruHnteG aud agreed.
and do by these presents covenant and
agree. and bind themselves as well 80 such
other persons as may hereafter become
associated with them. 70 form and 'pu.u
tUtr corporation and body polite iu law.
for the objects and purposes. and under
the StipulatiouS. articles and conditions
which they hereby adopt a. their charter.
as follows, to-wit:
ARTICLE THE name and title of IN"
said corporation shall be Tru~tr" oil Co..
Inc. and its domicilc is hereby '>tah.
lishcd in the City OF New orleans. State
of Louisiana. and under its corporate name
said corporation shall have fun power ami
authority to contract. sue and be- sued To-
make and use corporate seal. and IN"
same to break and alter at pleasure: 10
hold. receive. lease. purchase. improve.
ALLEVIATE. convey. sell. borrow. pledge. mort
gage and hypothccatc. under its corporate
name. property. real. personal and mixed
To name and appoint >cuh officers, dlrr'-
tors. agents and managers or employees
rs the interest or the convenience of tho
corporation may require; To make and
establish bylaws. rules and regulations
for tn" proper management and rrgui'.
tion of its affairs, as may be deemed ucrr~-
sary and proper, and the sam" 10 change
and alter at pleasure: To own stock in
other corporations and 10 do all such other
acts and things permitted 10y law, or 81
shall or may be necessary and proper To-
carry out the purposes and objects of sri'
corporation. Said corporation. unless
sooner dissolved in accordance with it,
charter. shall exist and continue for the
period of nincty-niuc t!t) years from ana
in his absence. the Vice President. shall Ice
the proper person upon whom citation and
all other legal process shall be served.
ARTICLE 1.-THE objects and purposes
for which this corporation is organized.
and the nature of IA" business to Toe ear.
rcd on 10y it, ar" hereby declared To he.
To develop the mineral resources of land.
to buy and sell land. to cultivate lana.
buy and sell stock of other corporations.
to buy and sell bonds of other corpora.
lions; to operate by lease. or in direct
ownership. oil wells ana other means of
mineral development: Ia own, leI>" and
operate means of all kinds in the ole.
tanning, storing and transportation Of its
raw material and finished products. To
build and operate pip" lines, TO own and
operate docks and ship yards and gunvr-
ally To do and to perform all such hu>i
ness as may be necessary for. or incidental
TO. the objects and purposes herein men
toned as fully as if set forth herein.
ARTICLE III.-The capital stock OF this
corporation l. hereby fixed at forty thOu>-
and (S4OOOOOOl dollars, divided into four
thousand 4e00J shares. Of ten dollars
$1,000 each. all of which shall be com
mon stock. This stock shall he payabl"
in cash or may be issued by the Board Of
Directors in exchange for things of value
actually received or services rendered the
corporation. payments to be made at Sucl
time as may be determined by the Board
of Directors. This corporation shall be a
going concern as soon aS twenty thousand
dollars (S2O.OOOO0) of the capital stock
shall have been subscribed for and ten
thousand dollars ($lO.OO0.OO) of the capital
stock shall have been paid for The cap
ital stock of this corporation may he in
creased to one hundred thousand dollars
$500 100000. All transfers of stock of this
corporation shall be entered on the stock
book of the company. and no transfer of
stock shall be in any manner binding on
this corporation until so registered in its
stock book.
ARTICLE IV-All Of the corporate pow
erS of this corporation shall be vested in
and exercised by Board of Directors of
nine (9) stockholders. five 20 of whom
shall constitute a quorum for the tranSac-
tion of business and their decisions shall
be valid corporate acts. The officers of
the said corporation shall he a President,
a Vice President and a Treasurer, who
shall be members of the Board of Direc-
tors. and a Secretary, who need not be a
stakeholder or Director. The following
named persons shall constitute the first
Board Of Directors of this corporation:
III. X. Macleod. 1904 Elm street, New Or
leans. La; X. II. Hackney, New ORLEANS,
La: VI. y. Coe. S201 Pritehard Place, New
Orleans La; s. Il. Chase, 931 Henry Clay
Ave, New Orleans, La; j. II. Warner.
1919 Verna street, New Orleans, La; u.
ii. Hogan, 223 s. White street. New Or
leans. La; X. X. Mulnix, IVA Josephine
street. New Orleans, La: John Dymond,
Jr.. Empire p. o., La; W. W. Battle. 300
Chestnut street. New Orleans, La. And the
said II. X. Macleod shall be President :;
NJ y. COe, Vice President, and j. II. War
ner. Treasurer. The Secretary shall be
elected at the first meeting of the Board
of Directors. No person shall be eligible
as a Director or as an officer who is not
stakeholder of this corporation. During
the absence of the President. the Vice
President shall act and preside. Said
Board of Directors shall continue in office
until the second Monday in December, 1921,
on which date and thereafter annually. a
Board of Directors shall be electe don the
second Monday of December of each year.
unless the same shall be a holiday. when
such election shall be held on such next
legal day thereafter. Notice of such cleo
tiOn shall be given by written or printed
notice ten (10l days previous to said cleo
ton and sent by mail to the last known
address of each stakeholder, as shown by
the books of the corporation, and the
Board of Directors shall appoint ole or
more stockholders to preside at such cleo
tiOn as commissioners. In the event of
the failure of any commissioner, or com
misSiOners to attend. the President shall
by appointment fill the vacancy. failure
from any cause whatever to elect Directors
on the day named for that purpose shall
not dissolve the corporation, but the Di-
rectOrs then in office, as well as the officers
of the said corporation, shall hold over
until their successors are chosen and quail
fed In such event the President shall
cause another election to be held within
thirty 500 days, and shall give notice
thereof as hereinabOve provided. At every
election and meeting each stakeholder shall
be entitled to one vote for each share of
stock registered in his name and may vote
by proxy. The election of Directors shall
be by ballot and the majority in amount
of votes cast, each share of stock voted
upon to be counted for one vote. shall
elect the person or persons for whom they
have been east. After each election the
Board of Directors shall elect from their
own members the officers of the corpora
| ton, except that the Secretary need not be
a Director or stakeholder.
ARTICLE V-.The Board of Directors
shall have full power to NIL vacancies in
| their number, caused by death, reSigna-
| tion or otherwise, from among the stock
holders of the corporation. The said
| Board of Directors shall have full control
| of the property of this corporation, and
| shall so conduct, manage and use the same.
| as in their discretion they deem fit. and as
| is consistent with the objects of the com
pany or the welfare of the same. The
| said Board of Directors are further au-
| thOriZed 10 frame and adopt such bylaws,
| 10. H.. o "A