The herald., 1921-05-12
CHARTER.
TO CHARTER OF CHAL
METTE OIL REFINING COM
PANY, INC.

United States of America, State of Louis
lana, Parish of Orleans. BE II known,
that on this 3rd day of the month of May,
in the year of our Lord one thousand nine
hundred and twenty -one and of the 1nde-
dendence of the United States or America
the one hundred and forty-fifth, before
me- Watts X. Leverich, a Notary Pubic,
duly commissioned and qualified, In and
for this City and the Parish aforesaid
therein residing, and in the presence OF
the witnesses hereinafter named and un-
dersigned, personally came and appeared
Felix p. Vaccaro, and X. Z. Batson, mere
in appearing in their respective capacities
as the duly authorized Chairman and Sec
rotary of meeting of the Stockholders
of the Chalmette Oil & Refining Company,
Inc, corporation organized under the
flaws Of this State, by act passed before
the undersigned Notary, on the 22nd day
of January, 1921, as will more fully appear
by reference to a certified copy OF the
Minutes Of said meeting hereunto annexed
for reference;
WHO DECLARED, That at a meeting
of the stockholders of said Corporation,
held pursuant to a call Of the Board OF
Directors and likewise pursuant to the
unanimous consent of all the stockholders
at the office Of the Company, In the City
of New Orleans, on the Bird day of May,
1921, 1t was unanimously voted by vote
of all the outstanding capital stock Of
the company to amend Article Nv, SO as
to provide that the presently authorized
fixed at the sum of Two Hundred Fifty
Thousand $3.50 OO0.00) Dollars, divided
into and represented by Two Thousand
Five Hundred (2,5O0) Shares of the par
value Of One Hundred tslOoO0) dollars
per share, the remaining provisions OF Ar.
ticle Nv to remain unchanged, SO tnaf
the said Article Nv shall hereafter read
and be as follows:
ARTICLE Iv.-The capital stock Of this
corporation is hereby fixed at the sum
II. hnn l.
coo. COZ Dollars, divided into and repre-.
scented by Two Thousand Five Hundred
| {2.5OO) shares of the par value Of one
| hundred (S1OO.00) dollars per share. The
to Ten Hundred Thousand (s100o, 0o0.Oo)
Dollars. No transfer Of stock shall be
| binding upon the Corporation unless made
and recorded upon its books. No stock
holder shall have right to transfer or
convey any of his or her stock in the cor.
poration unless and until he or she shall
have first made a written offer to the
other then stockholders Of the corporation
and to the corporation itself, to sell his or
her stock to them at the book value
thereof. Book Value" as used herein
is hereby defined to mean the value at
which the assets and liabilities OF the cor.
poration have been In good faith entered
upon its books. Such written offer shall
be addressed to the other then stockhold-
ers. and to the corporation itself, col
lectively, and shall be delivered to the
office Of the corporation not less than ten
days prior to the application for transfer
/ of the stock. The corporation shall trans
NIT this offer to the respective then stock.
/ holders, and the stock of the stakeholder
desiring to sell shall be distributed pro
rata among such Of the other stockhold-
ers as desire to purchase, In the proper
| lions in which the holdings of the stock
holders DESTROYS Of purchasing bear to
i each other; and IL the total which such
other stockholders desire to purchase Is
L Iaos thon tha tot oI for sal
after each Of the other stockholders shall
have taken and paid for the amount OF
stock which he or she desires to buy and
to which he or she Is entitled, then the
remainder undertaken shall be open fol
purchase by the corporation itself; and
unless prohibited by law, the corporation
may itself use and apply its surplus earn
/ ings or accumulated profits to the pur'
chase from any stakeholder desiring ia
sell Of any portion Of that stockholders
stock which none Of the other stockhold-
/ ers may desire to acquire at the book value
thereof; provided, that the corporation
shall not apply any Of its capital to the
purchase of such stock but shall always
maintain its capital unimpaired. The cor
poration shall have the right to refuse ID
transfer any stock so long as the share
holder demanding the transfer Is In any
| way indebted to the corporation, and the
corporation shall have a lien. pledge and
privilege on each share of stock to secure
any indebtedness due by the shareholder
| to the corporation. Should any Of the
stock offered for sale be not desired by
| the other stockholders. and should the
corporation itself be unwilling or unable
/ to purchase any Of the same out OF 1t,
surplus earnings, within ten days from
| the receipt at the corporations office Of
| the written offer to sell. then. and ther
j only shall the shareholder desiring t
sell be entitled to transfer such undesiret
portion Of the stock to such person OF
persons, and at such price a. he or sh'
may zee fit. The PROVINCES Of this ar
j ffc}A han be pfinfAd mon the foc1 q