The herald. [volume] (New Orleans, La.) 1905-1953, 1921-07-14
CHARTER OF KEATON OIL & DRILL
ING COMPANY, INCORPORATED.

CHARTER OF KEATON OIL & DRILL
ING COMPANY, INCORPORATED.
United States of America State of
Louisiana, Parish of Orleans. Be it
known that on this twenty-second day of
the month of June, in the year Of our
Lord, one thousand nine hundred and
twenty one Q92D, and Of the Independence
of the United States of America, the one
hundred and forty-fifth Qi5th); before
me, Henry Leon Sarpy a Notary Public,
duly commissioned and qualified for 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 organi-
zation 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 other
persons who may hereafter join or be-
come associated with them, into a corpora
ton or body polite in law, for the OBJ
jects and purposes and under the stipula-
tons 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 it shall enjoy
succession for the full term of ninety
| nine 1907 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
tons: 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 it's cor
porate name. property, real, personal and
| mixed; to borrow money and issue bonds
| and other evidences of debt, and to secure
| the same by mortgage and otherwise; to
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 or 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 IU.-The objects and pur-
poses for which this corporation is orga-
| niZed and the nature of the business to be
| carried on by 1t, 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
lby-products; to lay pipes for oil transpor-
tation purposes; to erect distributing sta
tons 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 as 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
and, generally, to do and transact all
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 Two
Thousand Dollars $50, OOOO0). divided into
and represented by Two Hundred (2OO)
shares of Preferred or Guaranteed stock
of the par value of One Hundred Dollars
--nA
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 600 10000, in the same proper
at present, and at not less than the pres
ent par value. No transfer Of stock shall
be binding on the corporation unless made
and recorded on its books.
No stakeholder shall transfer or convey
his stock in the corporation unless and
until he has first offered it, in writing
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 the
corporation itself and 1t shall be delivered
TO the office of the corporation within ter
fuil days OF the time that the application
/ iVf Tue ITuuSter Oh the STOCK Is MADE. INIT
corporation shall transmit the offer Il
the stockholders Of record, and such stock
so offered shall be distributed pro rata
among the stockholders who may desire
to purchase. in proportion to the stock
they already own; and II the aggregate
amount which such other stockholders will
purchase Is less than that offered. then the
remainder untaken may be purchased by
the corporation and, except as otherwise
provided In this charter the corporation
rrl linz u
the purchase Of such stock, but the cor.
poration shall at no time use any part OF
Its capital stock for such purpose but
tain its capital stock intact. The cor
poratfon may refuse to transfer stock
when the shareholder asking for the trans.
Ter IL at all indebted to the corporation
whenever the stock offered, in the man
ner hereinabove provided, is not wanted
BY any stockholder Of this corporation II,
self, the stockholder DESTROYS or selling
may sell and transfer his stock to any
one and for any price he sees lit. The