The herald., 1921-01-20
CHARTER.

after named and undersigned. personally
came and appeared the parties whose
names are hereUntO subscribed. all of the
full age of majority, who declared, that.
availing themselves of the provisions of
the laws of this State relative to cOrpOr-
atiOnS, they have covenanted and agreed.
and do by these presents covenant and
agree. and bind themselves. as well as Such
other persons as may hereafter become
associated with them, to form and conSti-
tutc Il corporation and body polite in law.
for the objects and purposes. and under
the Stipulations. articles and conditions
which they hereby adopt as their charter
as follows, tO-wt:
ARTICLE Tile name and title of the
said corporation shall be Trustee Oil Co,
Inc. and its dOmicile is hereby eStah-
lished in the City of New Orleans. state
of Louisiana. and under its corporate name
said corporation shall have full power and
authority to contract, sue and be sued: to
make and use a corporate seal. and the
same to break and alter at pleasure; to
hold, receive, lease, purchase, improve.
ALLEVIATE. convey. sell. borrow, pledge, mort
gage and hypOthecate. under its corporate
name, property, real personal and mixed
to name and appoint seuh officers. direc-
tors. agents and managers or employees
as the interest or the convenience of the
corporation may require; to make and
establish bylaws. rules and regulations
for the proper management and reGula.
tion of its affairs, as may be deemed nec"S-
sary and proper. and the same to change
and alter at pleasure; to own stock III
other corporations and TO do all such other
acts and things permitted by law, or -.
shall or may be necessary and proper TO
carry out the purposes and objects of san
corporation. Said corporation, unlcS,
sooner dissolved in accordance with its
charter, shall exist and continue for the
period of ninety-nine (J9) years from and
after the date hereof. The President. or.
in his absence, the Vice President. shall be
. ha " al
all other legal process shall be served.
ARTICLE 1.-THE objects and purposes
for which this corporation is organized
and the nature of the business to be car
ried on by II. are hereby declared to be ::
To develop the mineral resources Of land.
to buy and sell land, to cultivate land. :
buy and sell stock of other corporations.
to buy and sell bonds of other corpora
tons; to operate by lease, or in direct
ownership, oil wells and other means of
mineral development: to own. lease and
operate means of all kinds in the oh
tanning, storing and transportation of its
raw material and finished products; to
build and operate pipe lines: to own and
operate docks and ship yards. and gencr-
ally to do and to perform all such bust
ness as may be necessary for. or incidental
to. the objects and purposes herein Ten-
toned fully as if set forth herein.
ARTICLE III.-The capital stock of this
CORPORATION is hereby fixed mt forty thOuS-
thousand $4,000 shares. of ten dollars
$4,000 each, all of which shall be com
mon stock. This stock shall be payable
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 $50 100000 of the capital stock
shall have been subscribed for and ten
thousand dollars (S10000OO) of the capital
stock shall have been paid for. The cap
ital stock of this corporation may be in
creased to one hundred thousand dollars
$780, 00O0). 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 i'll Its
stock book.
ARTICLE Iv.-All of the corporate pow
| ers of this corporation shall be vested in
| and exercised by a Board of Directors OF
| nine (9) stockholders, five 90 of whom
shall constitute quorum for the transac-
| ton of business and their decisions shall
| be valid corporate acts. The officers OF
the said corporation shall be q President
| a Vice President and Treasurer, who
| shall be members of the Board of Direc
| tors and Secretary, who need not be q
stakeholder or a Director. The following
| named persons shall constitute the first
| Board of Directors of this corporation
| ii. II. Macleod. 1904 Elm street, New Or
leans, La. II. II. Hackney, New Orleans
La; NJ y. Coe, S201 Pritchard Place, New
| Orleans. La; S. Il. Chase, 93l Henry Clay
| Ave, New Orleans, La; ]. II. Warner
| 1919 Verna street. New Orleans, La; L
ii. Hogan, 223 s. White street, New Or
| leans. La; II. X. MulniX, IVA Josephine
street, New Orleans, La; John Dymond
| Jr.. Empire z. o.. La; w. W. Battle, 80
| Chestnut street, New Orleans, La. And the
said II. r. Macleod shall be President
NJ. n. Coe. Vice President, and j. II. war
| ner, Treasurer. The Secretary shall b'
elected at the first meeting of the BoarC
| of Directors. No person shall be eligible
| as Director or as an officer who is not ;
| stakeholder of this corporation. Durint
| the absence of the President, the Vie
President shall act and preside. Sale
| Board of Directors shall continue in Office
until the second Monday in December, 1921
| on which date and thereafter annually,
| Board of Directors shall be electe don tn
second Mondsy of December of each year
| unless the same shall be holiday, whei
| such election shall be held on such mex
| legal day thereafter. Notice of such cleo
tion shall be given by written or printed
| notice ten (10) 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, ana th'
| Board Of Directors shall appoint ole o.
| more stockholders to preside at such elec
| ton as commissioners. In the event o
| the failure of any commissioner, or com
| missioners to attend, the President shall
| by appointment fill the vacancy. failur
| from any cause whatever to elect Director
| on the day named for that purpose shall
! not dissolve the corporation, but the III
| rectors then in Office, as well as the ofhcer
| of the said corporation, shall hold eve
| until their successors are chosen and quaIl
| fed In such event the President shall
cause another election to be held within
thirty 800 days, and shall give notic
thereof as hereinabove provided. At ever!
election and meeting each stakeholder shall
| be entitled to one vote for each share o
| stock registered in his name and may yot
by proxy. The election of Directors shal
be by ballot and the majority in amour
| of votes cast, each share OF stock vote
upon to be counted for one vote, shal
| elect the person or persons for whom the.
have been cast. After each election tn
| Board of Directors shall elect from thei
| own members the officers of the corpora
ton, except that the Secretary need not b
a Director or a stakeholder.
| ARTICLE V-.The Board OF Director
shall have full power to fill vacancies Il
their number, caused by death, resigna
ton or otherwise, from among the stock
holders of the corporation. The sal
Board of Directors shall have fun contro
of the property of this corporation, an
shall so conduct, manage and use the same
as in their discretion they deem fit. and a
is consistent with the objects of the com
pany or the welfare of the same. III
said Board of Directors are further au
thorized to frame and adopt such bylaws
rules and regulations as the affairs an
business of the corporation may requlr
| and as il may deem necessary for the cor
dJicting and management thereof, provide