The herald. [volume] (New Orleans, La.) 1905-1953, 1920-06-03
CHARTERS.

CHARTERS.
lease or release to others patents. trade
marks. trade names and copyrights and
TO dispose of same a. the corporation may
seem fit.
To purchase and acquire oil leases and
oil land for the purpose Of resale or for
drilling purposes, and royalties
To purchase and acquire stock or bonds
or other evidences of indebtedness of any
corporation, and to acquire and purchase
and take over in their own name or other
wise the capital stock, property. good will
and stock i'll trade of any person. part
nerShip, firm or corporation or of any
concern, whether going or discontinued
and the leases and liabilities thereof and
to hold stock i'll other corporations. and
the capital stock of the corporation. is
sued to be issued may be issued for
capital stock in any other corporation.
To issue Preferred Stock redeemable at
interest paying periods when desired. and
in general TO do and perform all such
things as may be proper and necessary
and germane to or incidental to the OBJ
jccts and purposes herein set out. To do
all of thu things hereinbefOre recited,
anywhere in the United States or any for
| eign country.
| ARTICLE N.-All or the corporate
powers of this corporation shall be ex-
erciSed by Il Board of Directors consist
lHS III IHrtt common STOCKHOLDERS, TWO OF
whom shall constitute quorum for the
transaction of business, each of whom
shall own. at all times, at least one share
of common stock. The Board of Direc-
tors shall elect annually from their num-
Der President, Vice President and Sec
retary-Treasurer. The Board of Direc-
tors may, from time to time. name and
appoint such officers, agents. managers
and employees its need may require
who shall be employed at the pleasure
1 n Fh "A.
ager to whom. shall be confided the en-
ployment of agents and employees. The
following persons shall constitute and
compose the first Board of Directors: F.
W. Calogne: Jr.. President, Richard c.
Fitzgerald, Nice-PreSident: Ben. Campag-
ma. Secretary Treasurer; and who shall
hold office until the first Monday of
July, 1921. or until their successors are
elected and qualified. Vacancies caused
by DEATH resignation or inability TO
serve. shall be filled by the remaining
members or member. 4 failure to elect
a Board of Directors, or the failure of the
Board of Directors to elect officers
shall not have the effect of dissolvng the
corporation. but the directors and officers
in office shall continue to serve until their
successors are elected dnc assume office
Meeting of the Board of Directors shall
be held as often as may re deemed nee
essary by days written notice address
ed TO each member, provided that the
Board, by unanimous consent may dis
penSe with said written notice and sit
at any time. Members or the Board NAV
vote by written proxy on any proposition
coming before the Board Stockholders
meetings. general or special may be
called by the Board or Directors. upon
giving them ID days notice IN writing.
addressed to each stakeholder at his last
known residence. provided that. by unani-
nous consent. meetings may be held at
any time. And stockholders meetings
may be held when requested and ordered
by p per cent of the outstanding stock.
Inc Board of Directors may, from time
10 time, make such rules and regulations
Tor the Government OF the corporation as
IL may deem proper and the manner of
the certificatiOn and registration of it's
stock, and no person shall be elected n
director unless he holds and owns at least
one share OF Common stock unpIedged on
the books Of the company Each stock
holder shall be entitled 70 one vote for
each share of Common stock held nv him
and If Preferred stock should be issned
rights. Wins
Said Common stock may oe voted In
person. or by written proxy of the Nom
Der. But no transfer or sock shall no
recognized or binding on the corporation
unless transferred on the books of the
company. All certificates of stock is
sued, common Cor preferrec, If issued)
snail be signed by the PRESIDENT ana
countersigned by the Secretary Treasurer
Any stakeholder holding Common Stock
ana desiring to sell the same shall first
offer the same to the corporation in writ
ing, and it, ten days after the receipt of
sald letter. not purchased by the corpora
tlOn or any member of the cOrDorotion
holding Common stock, may dispose of
same 10 any other person: and il shall
De the duty of the President. and in his
absence the Vice President. to notify each
holder OF Common Stock or the desire of
the member aforesaid 10 sell said
ARTICLE V.-The capital stock of this
corporation shall be Ten Thousand dol
lars, (S1OOOO.O0) divided into Sixty C60
shares OF Common Stock OF the mar
value of One Hundred Dollars per share.
ana Forty Shares of Pre-erred Stock of
the par value Of One Hundred Dollars
per share, which said Preferred STOCK
shali be non-voting and participating
STOCK, which shall bear eight per cent in
terest payable annually. ana the holders
theEeof shall be preferred in the payment
OF dividends of any net profits or earned
surplus over Common Stockholders and
said Preferred Stock shall be subject 70
redemption in whole or in part at any
interest paying period without previous
notice; stock may be issued in exchange
Tor property, good will, services or for
the stock of other corporations
Fifty per cent. of the capital stock of
this corporation must be actually sub
scribed before the filing of articles of in
corporation, and fifty per cent. of the
said amount so subscribed shall be ac-
tually paid in before the corporation en-
cages in business, and the remainder
within twelve months thereafter The
| capital stock may be Increased to One
Hundred Thousand Dollars by a two
thirds vote of all Common Stock.
| ARTICLE VINO stocxnolder shall ever
| become or be held liable for the contracts,