The herald., 1921-01-06
CHARTER.

mann, Notary Public. duly commissioned |
and qualified in and for this city and the
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 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- |
atiORs. 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- |
tute 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-wit:
ARTICLE 1.-The name and title of the
said corporation shall be Trustee Oil Co.
Inc. and its dOmicile i hereby estab-
lshed 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 n corporate seal. and the
same TO break and alter at pleasure; to
holi. 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 Scuh 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
! fO- the proper management and regula-
| ton of its affairs, as may he deenaed nec"s-
Sary and proper. and the same TO change
| and alter at pleasure; 10 own stock IN
| other corporations and to do all such other
| acts and things permitted by law, or n
| shall or may be necessary and proper to
| carry out the purposes and objects of sal,
| corporation. Said corporation, unless
! sooner dissolved in accordance with it,
| charter shall exist and continue for the
| inH Of min. lfN no
| after the date hereof. The President or,
| in his absence. the Vice President. shall bt
| the proper person upon whom citation ana
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 it. 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
| tiOnS: to operate by lease, or In direct
ownership. oil wells and other means of
| mineral development; to own. lease ana
operate means of all kinds in the OBJ
| tanning. storing and transportation Of its
| raw material and finished products; TO
build and operate pipe lines TO own ana
operate docks and ship yards. and gener-
| ally to do and to perform all such bust
! ness as may he 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 is hereby fixed at forty thOus-
| and (S4O.OOOO0) dollars. divided into four
| thousand (4.OOW 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 such
time may be determined by the Board
of Directors. This corporation shall be
going concern as soon as twenty thousand
dollars (S20.0OO.00) of the capital stock
shall have been subscribed for and ten
thousand dollars ts1O,OOOOOJ 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
$500 000O0). All transfers of stock of this
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 Iy-Al of the corporate pow
ers of this corporation shall be vested in
and exercised by Board of Directors OF
; nine 90 stockholders, five (5) of whom
f shall constitute quorum for the transac'
f ton of business and their decisions shall
be valid corporate acts. The officers o.
: the said corporation shall be President
: Vice President and a Treasurer, wh'
. shall be members of the Board of Direc
tors and a Secretary, who need not be
stakeholder or a Director. The followinA
il named persons shall constitute the frs
+ Board of Directors of this corporation
H. r. Macleod, 1904 Elm street, New Or
leans, La: r. H. Hackney, New Orleans
S La; NJ. n. Coe SOL Pritchard Place, New
: Orleans, La: S. b. Chase. 931 Henry Cla!
g Ave, New Orleans, La; J. H. Warner
z 1919 Verna street, New Orleans, La; L
n H. Hogan, 2,3 s. White street. New Or
= leans. La. r. X. Mulnix, TIA Josephin
y street. New Orleans, La; John Dymond
e Jr, Empire p. O., La: w. W. Battle, 800
/, Chestnut street, New Orleans, La: And tn
: said H. r. Macleod shall be President
T NJ n. Coe, Vice President, and ]. HI. War
= ner, Treas urer. The Secretary shall b
r elected at the first meeting of the Boar
d of Directors. No person shall be eligibl
as Director or as an officer who Is not
q stakeholder of this corporation. During
q the absence of the President, the Vic
9 President shall act and preside. Sal
y Board of Directors shall continue in offic
: until the second Monday In December, W.
: on which date and thereafter annually,
!! | Board of Directors shall be electe don tn
! second Monday of December of each yeaI
| unless the same shall be holiday. whe
| such election shall be held on such mex
!; legal day thereafter. Notice Of such cleo
= ton shall be given by written or printe'
!, notice ten (1O) days previous TO SAID elec
e ton and sent by mail to the last know
e address of each stakeholder, as shown b.
J, the books of the corporation, and tn
e Board of Directors shall appoint ohe o
e mere stockholders to preside at such cleo
> ton as commissioners. In the event 0
Z |
missioners to attend. the President shal
e by appointment fill the vacancy. failur
: from any cause whatever to elect Director
q on the day named for that purpose shal
u not dissolve the corporation, but the ID
n rectors then in Office, as well as the officer
| of the said corporation, shall hold eve
!, until their successors are chosen and quail
~ | fed. In such event the President shal
- cause another election to be held wltnl
a | thirty 800 days. and shall give motto
h thereof as hereinabove provided. At ever
10 election and meeting each stockholder shal
10 be entitled to one vote for each share o
20 stock registered in his name and may vot
!. by proxy. The election of Directors shal
q be by ballot and the majority in amour
= of votes cast, each share of stock vote
n upon to be counted for one vote, sha
elect the person or persons for whom tne
a have been cast. After each election tn
al Board of Directors shall elect from thei
IA own members the officers of the corpori
a. ton. except that the Secretary need not b
l. a Director or a stakeholder.
ARTICLE V-.The Board Of Director
shall have full power to fill vacancies
Ill their number, caused by death, resign;
ne ton or otherwise, from among the stoci
a. holders of the corporation. The sal
Is Board of Directors shall have full contr'
lg of the property Of this corporation, an
er shall so conduct manage and use the sam
ce | as in their discretion they deem hit. and