The herald., 1921-07-28

CHARTER OF KEATON OIL & DkiLL-
ING COMPANY, INCORPORATED.
United States of America State OF
Louisiana, Parish of Orleans. BE IL
known, that on this twenty second day OF
the month of June, in the year oil our
Lord one thousand nine hundred ana
twenty one Q92D. and of the Independence
of the United States of America, the one
hundred and fOrty-fifth 1ioth); Deiore
me- Henry Leon Sarpy Notary fuDnc,
duly commissioned and qualified Tor the
Parish of Orleans, State of Louisiana, and
in the presence of the witnesses hereinafter
named and undersigned, personally came
and appeared: the several persons whose
names are hereunto subscribed, who de-
clared that, availing themselves OF the
laws of this State relative to the orgahl-
cation of corporations, they have cove
nanted and agreed and do by these pres
ents covenant. agree, bind, form and or
ganiZe themselves, as well as such Otner
persons who may hereafter join or be-
come associated with them, into a corpora
'tiOn or body polite in law. for the OBJ
jects and purposes and under the stlpula-
lions and agreements following, to-wit:
ARTICLE 1.-The name and title OF
this corporation shall be: Keaton Oil
and Drilling Company Incorporated, and
under it's corporate name 1t snail ENJOY
succession for the full term OF ninety
nine (99) years from and after the date
hereof; and it shall have power and au-
thority to contract, sue and be sued in
its corporate name; to accept and receive
mortgages, pledges or other hypotheca.
tions: to make and use a corporate seal
and the same to break and alter at pleas
ure; to purchase, receive, lease, hold or
otherwise acquire and convey, as well as
mortgage and hypOthecate under Its cor
porate name, property, real. personal ana
mixed: TO borrow money and issue bonds
and other evidences of debt, and to secure
the same by mortgage and otherwise; 10
subscribe to and hold stock in other cor
pOratiOns; to acquire, hold and reissue
shares of its capital stock; to carry out
all of the objects and purposes herein
after named: to name and appoint such
managers and directors, officers and
agents, as the interest of the corporation
will require; to make and establish. as well
as amend and alter at pleasure such by
laws rules and regulations for the proper
management and regulation of its affairs !;
and generally to do all acts permitted
trading corporations to do under the laws
of the State of Louisiana.
ARTICLE 1.-THE domicile Of this cor
pOration shall be the City of New Orleans,
Parish of Orleans, State of Louisiana :;
and all citations other legal process
shall be served upon said corporation
through its President. or, in his absence,
upon the Vice President, and in the alb
sence of both, upon the Secretary-Tres-
urer.
ARTICLE III.-The objects and pur-
poses for which this corporation is orga-
niZed and the nature of the business to be
carried on by it, are declared to be: To
carry on and conduct a general oil well
drilling and development business; to ex-
plore by geological surveys and drilling
operations any lands within or without
the State of Louisiana; to buy sell and
hold oil concessions, royalties and leases {;
to own and operate drilling machinery
and equipment. in whole or in part, with
or without drilling machinery and equip
ment at any time or place, within or with
! out the State of Louisiana; to refine, ship,
transport and market petroleum or its
by-products: to lay pipes for oil transpor-
| tation purposes; to erect distributing sta
tions and act as purchasing agents for
oils of all kinds derived from reductions
of crude oil; to receive and market the
same; to erect and operate or sell such
distributing plants to others for distri-
buting oils by sale; to operate tank
| wagons and to pack oils In containers and
| all manner of receptacles for distributing
oils by marketing them; to refine, alter
and sell petroleum and its by-products. To
| acquire gas and oil lands and other inter
ests in real estate and gas oil and other
| rights; to own and operate tanks and
tank cars to handle, transport and dis
pose of oil or gas for the use of the
public in general well as its own use
/ to transport such oil and gas by means
| of such pipes, tank cars. or otherwise, and
to sell and supply the same to others
|
such business as is properly connected
with or related to any or all of the OBJ
! jects and purposes for which this corpora
ton is formed.
/ ARTICLE IV.-The Capital Stock Of
this corporation is fix at Twenty Tive
Thousand Dollars 1922 OO00O). divided into
and represented by Two Hundred (200)
shares of Preferred or Guaranteed stocl
of the par value of One Hundred Dollars
($100.0O) each, and two hundred GOO
shares of ordinary or Common Stock Of
the par value of Ten Dollars $4,000 each
The amount of said Capital Stock may
be increased to One Hundred Thousand
Dollars ($100.O0000O, In the same proper
ton of Preferred and Common Stock a,
at present, and at not less than the pres
ent par value. No transfer Of stock shall
be binding on the corporation unless mad,
and recorded on its books.
No stakeholder shall transfer or convey
his stock In the corporation unless ant
until he has first offered it, in writing
to the other then stockholders and to tn,
corporation itself, at the book value there
OF. By Book Value" is meant the accu
rate and faithful valuation of the assets
and liabilities of the corporation entered
upon its books. Such written offer shall
be addressed to said stockholders and tn,
i corporation itself and IL shall be delivered
to the office of the corporation within ter
full days Of the time that the application
for the transfer of the stock is made. TIL,
corporation shall transmit the offer Il
the stockholders Of record. and such stool
so offered shall be distributed pro rat,
among the stockholders who may desir,
to purchase, In proportion to the stool
they already own; and If the aggregat,
amount which such other stockholders will
purchase is less than that offered then tn.
remainder untaken may be, purchased BY
the corporation and, except as otherwis,
provided In this charter the corporation
may use its surplus earnings or profits ii
the purchase of such stock but the cor
poration shall at no time use any part o.
Its capital stock for such purpose, bu
on the contrary 1t shall al all times main
tain its capital stock intact. The cor
poration may refuse to transfer stool
when the shareholder asking for the trans
fer is at all indebted to the corporation
Whenever the stock offered. in the man
ner hereinabove provided, is not wante