The herald. [volume] (New Orleans, La.) 1905-1953, 1921-02-24
CHARTER.

tai stock; to carry out all of the objects
and purposes hereinafter set out; to name
and appoint such managers and directors,
officers and agents, as the interest and
convenience of said corporation may re-
Quire; and to make and establish as well
as alter and amend at pleasure such by
laws, rules and regulations for the man
agemept and regulation of the affairs Of
the corporation as may be necessary. prop,
er or convenient; and generally to do all
such acts and things as trading corpora
tions are authorized to do under the laws
of the State Of Louisiana.
ARTICLE 1.-THE domicile Of this cor
poration shall be in the Parish Of Orleans,
State of Louisiana, and all citations or
other legal process shall be served upon
the President of the company, or, in his
absence, upon the Vice-President.
ARTICLE lII.-The objects and pur-
poses for which this corporation is or.
ganized, and the nature of the business to
be carried on by it, are hereby declared to
be: to buy, treat, refine, handle, sell and
deal In oil and petroleum products Of all
sorts; to transport and sell the same in
crude or manufactured or refined form: to
buy, sell, lease, hold and dispose Of real
and personal property; to construct, erect
maintain and operate pipe lines, buildings,
machinery and refining and manufacture
ing plants; to own, charter and operate
tank steamships, barges, tugs and other
water craft; to carry on every sort of bust
ness incidental to or convenient in con-
Will L0e business Oh UPall02 IN
and refining and treating oil and petroleum
products of very kind and character; to
acquire and hold stock, bonds obligations
and securities of other corporations; to ex-
change the entire capital stock or any
part thereof for property which 1t is au-
thorized to acquire; to exchange it's entire
assets and business or any part thereof
for property, stocks. bonds or other obli-
cations of other companies, firms, or in
dividuals; to buy, sell, lease hold de-
velop and improve real estate of all sorts
and generally to do all such acts and
things as a general trading corporation,
under the laws of the State of Louisiana,
is authorized to do.
ARTICLE Iv.-The capital stock of this
corporation is hereby fixed at the sum of
one hundred thousand (S10e, 0OO00) dol
lars, divided into and represented by one
thousand Q,O000) shares of the par value
Of one hundred (s1O0.O0l dollars per share.
The amount of the said stock may be in
creased to ten hundred thousand $1,000
OOO.OO) dollars. No transfer of stock shall
be binding upon the corporation unless
made and recorded upon it's books. No
stakeholder shall have a right to trans
the corporation unless and until he or she
shall have first made q written offer to
the other then stockholders Of the corpora
ton, 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 corporation
have been In good faith entered upon its
books Such written offer shall be ad-
dressed to the other then stockholders, and
10 the corporation itself, collectively and
shall be delivered to the office of the cor
poratton not less than ten days prior to
the application for transfer of the stock
The corporation shall transmit this offer
TO the respective then stockholders and
the stock Of the stakeholder desiring to
sell shall be distributed pro rata among
NJ
to purchase, in the proportions in which
the holdings Of the stockholders DESTROYS
or purchasing bear to each other: and If
the total which such other stockholders
desire to purchase is less than the total
offered for sale, then, 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 untaken
shall be open for purchase by the corpora.
ton itself; and unless prohibited by law,
the corporation may itself use and apply
It's surplus earnings or accumulated profits
10 the purchase from any stakeholder de-
siring 70 sell OF any portion Of that stock
noiders stock which none of the other
stockholders may desire to acquire, at the
DOCK value thereof; provided, that the
corporation shall not apply any of Its
capital to the purchase Of such stock but
snail always maintain its capital unim-
paired. The corporation shall have the
right TO refuse to transfer any stock so
long as the shareholder 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 un,
wiling or unable to purchase any of the
same out of its surplus earnings, within
ten days from the receipt at the corpora
lions ONCE Of the written offer to scli
then, and then only, shall the stakeholder
desiring to sell be entitled to transfer such
unoesired portion Of the stock to such per.
son or persons, and at such price as he
or she may see at. The provisions OF this
article shall be printed upon the face of
each certificate of stock issued by the cor
poration and shall be binding upon eyery
person now, or hereafter becoming.
stockholder In this corporation. ali Of
wnom agree to the provisions hereof and
take such stock subject thereto: and All
pledges, hypothecations or other fncum-
orances OF said stock. or dealings with re-
gaid thereto. shall be subject to the pro-
ARTICLE VAN the powers of thia eor-
pofation shall be vested in a Board COM
posed OF not less than Ave nor more than
seven Directors. The precise number of