The herald., 1921-10-13
CHARTER.

reared. the several persons NH''' - /
are hrrpunto subscribed. VINO u''i'.'T .
! hat tbny are of full age of majority, anu
I ayailing themselves Of the laws Vi -,
| State of Louisiana, relative |" lHt w -
zation Of corporations, III su'h SUE"
mad. and provided, they constitute IuFIl
( Gives their successors, associates ana as
| >irnS. Il corporation under the sIPulali"HH
! herein set forth, which they adopt as 'h'lr
| charter to-Wlt:
! ARTICLE The name and style OF me
corporatiou shall be Mid Continent LAHa
, \ Development Company, lIr. an" ~
| Shall cuiny succession and corporate rN
! iStcure for a period OF ninety h'n' XXI ,
| Years from THE date hereof. ana 1t N"%'
| have for the purpose of the bu~IH'NN 1" ~ /
| carried on by il all powers conferred hH /
law upou corporations. and shall g'h'rh4E /
exercise all the powers necessary 10 ''''E /
on the said business.
| ARTICLE 1.-THE domlclle OF TINS COT /
| ,.r.tiou shall be in the City Of New Ut !
| loans state of Louisiana, and All ,l''-
| tiou, and legal process shan be served on
the rr,>ideut, of the corpora. l'h OF III ''.'
I,,,ut of his disability, on the 'l'' P'''I
dem OF the corporation.
| ARTICLE III-Thc objects and purposes
for which the corporation Is orEahIled.
and the nature Of the business 10 be con
ductrd 10y it. are hereby declared 10 p'
] The carrying on Of rraI estate "n"
dc,rlopInpnt business i'll III" phr''asIh-'
| Ira,inr subletting. transferring Arena
tiur. acquiring, lands, mines. ''l
claims, oil and gas lands, and oil ana E!N
leases and generally diSp"slhE oil 'e'laiI
| immoyableS. claims and leases Oh N'it
iumoyablp of which il il now the oNh'I'
all a. more fully described 10y the convey
ancc of said lease TO the said Corporation
which i attached hereto a. eAhlblt'u "iIu
| made part hereof, and TO construct urn
| on. rtt, and maintain mines. OH anu E'N
wells. 10 develop lands containing or De
liryed To contain minerals, oil ana gas
ARTICLE IV-The capital stock of TINS
corporation is hereby fixed at ihe sum vi
| thirty thousand (S3OOOOOO) dollars, 10 De
, r.prrScntrd by fhrce thousand l3VOV
| shares Of stock of the par value OF zen
| $1,000 dollars each which said STOCK
Shall be subscribed and paid for as th'
law directs. ,,
No transfer of stock shall be admitted
| or held to be valid. or binding, so far as
, | the corporation j. concerned, unless Hau'
, upon the books of the corporation 40
: | sale or pledge of stock shall be Nalld IN
, less said sale or pledge is accompanied by
, a written certificate, signed by thc pTeNl-
I dent and secretary treasurer OF the cor
. puration. to the effect that said stock was
. offered to the remaining stockholders
, ! through the board of directors, nj IT'S Do"k
4 value. for period of thirty t3O) days, ana
:. | they have failed or declined to purchase
n | the same Stock held or pledged In con
o travcntion of this provision shall become
= | the property of the corporation upon ten
N derinc to the transferee or Pledge It's
= book value.
+. ARTICLE V-Al powers Of this cor
Il poration shall bc vested. in, and the
II business shall be managed by, Il board
Il Of directors. consisting Of three dlrcr-
:. tors. all of whom shall he stockholders.
l. who shall be elected annually at a meeting
j. of the stockholders on the second Monday
- of January of each year. And any two ~
N said directors shall constitute quorum
r for the transaction Of all business of the
d corporation, provided the said two d.
recturS represent the majority of all out
| f. III Of 10
ARTICLE VI-The first board of drec-
) tors shall consist of: 7. !. JOurdan, re-
y siding at 230s Melpomene street, New Or
leans. La; Robert W. Meegel Joseph De
- braCht, residing in Harahan, Parish of JET
. ferSon, State of Louisiana.
y ! he said T. j. JOurdan shall be presi-
= dent Of this corporation; John Poliet' vice
- president; and Robert W. Meegel, secre-
:" tary treasurer: all of whom shall hold of
= nee until the second Monday in January,
= l922. or until their successors shall have
-, been duly elected and indicted into office
-, All elections shall be by ballot and held
- at the OBice of the corporation. Notice OF
= such meeting shall be given by the secre-
: tary treasurer in writing. delivered 70 each
=, stakeholder in person or mailed to his last
- known address at least ten days prior 10
~, | such election; but this notice may bt
~ waived by all of the stockholders.
No. AT All such elections and in all meetings
90 of the stockholders, each stakeholder sinai
~ b.. entitled to one vote for each share OF
Of of the corporation, at the date of saic
VI election. or meeting, said votes to be cas-
- in person or by written Proxy, and ma
= jority of oteS shall elect.
an The failure to elect directors at the an
~ nual meeting shall not dissolve or effec
20 the corporation, nor impair its manage
nv ment in any respect, but the directors il
VI office shall remain in office until thei
~ successors are elected and qualified.
- Each board of directors shall elect, n
"a soon possible after their own election
rs a president. a vice-president and secre
,v | tary- treasures. and may grant TO each of
ho ticer such powers as they deem nit.
Ir All vacancies in the board of director
ia from whatever cause shall be filled by tn
remaining directors. Any member N III
ON board may appoint any other director hi
or proxy TO act in his place and stead at an,
is meeting of the board.
by ARTICLE VII-This act of incorpOra
ID ton may be modified, changed, or altered
n | or the said corporation may be dissolve
m. with the assent of two-thirds of the Capi
TO- tai stock outstanding, at meeting of tn
Ter stockholders convened for that purpoS'
ial and after ten days notice has been give
tai by the registered letter, mailed to the las
ed known address of each stakeholder. Tn
zee said notice may be waived by the unani
nous consent of the stockholders.
all In case of dissolution of the corporatiO
ON its affairs shall be Gquidated by the di
III rectors in office at the date of its dissolr
m ton.
IN ARTICLE VIII-NO stakeholder sha
nd | ever De neId llaDle Tor the 1aultS or col
he tracts, of the. said corporation in an
prs further amount than the unpaid balanC
of due the corporation on the share, or share
lily of stock owned by him; nor shall any mel
I'VE informality in this charter have the effe,
nd of rendering this charter null or eXpOsin
of any stakeholder to any liability beyond til
ro- unpaid balance if any, due on his stock.
re- ARTICLE IX-The subscribers heret
the have given opposite their respective name
or and addresses the number of shares
stock subscribed for by each of them, az
at gregating eighteen C1S30) hundred an
the thirty shares of the capital stock of tn
en-, ! corporation.
nd The certificates of full paid and Mons
no sessable stock shall be issued to said sui
es, scribers m consideration of the cOnyeyanC
lp- and transfer to this company of the pre-
. perty and rights more fully described an
esa appraised hy the directors named in thi
charter, in the exhibit annexed heret
made part hereof, and read in connectio
MS herewith.
IN Thus done and passed. this first day
es, October. 1891. in the presence of. f. How
es, ard McCaleb, Jr., and J. T. Convery, con
petoR witnesses of lawful age and bot
!, of this city, who hereuntO sign the
lie. names with the said appearers and m
'rt- notary after reading of the whole.
ms, Witnesses: L. Howard McCaleb, Jr.,
hat 7. COBvery.
ra- (OIkGINAL SIGNED: