The herald., 1921-08-18


July 14-August is.
CHARTER OF KEATON OIL & DRILL
ING COMPANY, INCORPORATED.
limited States of America State OF
Louisiana Parish of Orleans. BE IL
known, that on this twenty second day OF
the month of June. in the year Oh our
Lord. one thousand nine hundred and
twenty one (192D, and Of the Independence
of the United States Of America, the one
hundred and forty-fifth (l4oth); peIOre
me, Henry Leon Sarpy Notary fupnc,
duly commissioned and qualified Tor the
Parish of Orleans, State of Louisiana, ana
in the presence Of the witnesses hereinafter
named and undersigned, personally came
and appeared: the several persons whose
names are hereuntO subscribed, VINO ue-
clared that. availing themselves OF tne
laws of this State relative to the organl-
zation of corporations they have cove
nanted and agreed and do by these pres
ents covenant, agree, bind, form ana 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 stpula-
lions and agreements following, to-wit:
ARTICLE 1.-The name and title OF
this corporation shall be: keaton oil
and Drilling Company Incorporated. and
under its corporate name II shall enjoy
succession for the full term OF ninety
nine (99) years from and after the date
hereof: and 1t 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 corporate sea
and the same 10 break and alter at pleas
ure; to purchase, receive. lease, hold OF
otherwise acquire and convey, as well al
mortgage and hypothecate under its cor.
porate name, property, real. personal and
mixed: to borrow money and issue Donu'
and other evidences of debt, and to secure
the same by mortgage and otherwise; &c
subscribe to and hold stock in other cor
porations: to acquire. hold and reissue
shares of its capital stock; to carry ou'
all of the objects and purposes herein
| after named: to name and appoint sucf
! managers and directors, officers and
agents. as the interest of the corporation
will require; to make and establish. as wei
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 law:
| 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
through its President. or, in his absence
| upon the Vice-President. and in the alb
sence Of both, upon the Secretary Tres
| urer.
ARTICLE III.-The objects and pur
| poses for which this corporation is orga
] nized and the nature of the business TO b.
'carried on by it. are declared to be: T,
| carry on and conduct a general oil wei
| drilling and development business; to ex
plore by geological surveys and drilling
| operations any lands within or withou
/ the State of Louisiana; to buy sell ant
| hnl nil
| to own and operate drilling machiner,
| and equipment. in whole or in part, wit
| 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 il
lby-products; to lay pipes for oil transpor
| tatiOn purposes; to erect distributing sta
| tons and act as purchasing agents 70
| oils of all kinds derived from reduction
| of crude oil; to receive and market tn
same; to erect and operate or sell sue
distributing plants to others for distri
buting oils by sale; to operate tan
wagons and to pack oils in containers an
all manner of receptacles for distributin
oils by marketing them; to refine, alte
and sell petroleum and its by-products. T
acquire gas and oil lands and other inter
ests in real estate and gas, oil and Othe
rights: to own and operate tanks an
tank cars to handle, transport and dis
pose Of oil or gas for the use of tn
public in general as we'll as its own use
to transport such oil and gas by mean
Of such pipes, tank cars. or otherwise. an
to sell and supply the same to others
and, generally, to do and transact a
such business as Is properly connecte
with or related to any or all Of the oil
, jects and purposes for which this corpor,
ton Is formed.
J ARTICLE Iv.-The Capital Stock
: this corporation is fix at Twenty Tw
Thousand Dollars $50, 900 O0), divided int
al nv Txua
} shares Of Preferred or Guaranteed stoc
: Of the par value Of One Hundred Dollar
(s1O0.o0) each. and two hundred CO.
: shares OF ordinary or Common Stock ,
: the par value Of Ten Dollars $1,000 eac
The amount Of said Capital Stock ms
be increased to One Hundred Thousan
. Dollars $500 000.00), In the same propo
: ton Of Preferred and Common Stock
at present, and at not less than the pre-
$ ent par value. No transfer Of stock shs
be binding on the corporation unless mat
and recorded on its books.
No stakeholder shall transfer or convs
e his stock in the corporation unless ar
until he has first offered 1t, in writin
: corporation itself, at the book value Their
Of. By Book Value" is meant the acc
; rate and faithful valuation Of the asse
T and liabilities Of the corporation enters
, upon its books. Such written offer shs
: be addressed to said stockholders and q
corporation itself and It shall be delivers
to the office Of the corporation within Il
full days Of the time that the applicable
, for the transfer Of the stock is made. II
> corporation shall transmit the offer
, the stockholders of record. and such stoC
!. so offered shall be distributed pro RAJ
! among the stockholders who may desil
to purchase, In proportion to the stoc
they already own: and IL the aggrega
! amount which such other stockholders wi
) purchase Is less than that offered then Il
remainder untaken may be purchased b
J the corporation and. except as otherwi.
provided In this charter the corporate
may use Its surplus earnings or profits
the purchase Of such stock but the CO
poration shall at no time use any part
Its capital stock for such purpose, b,
on the contrary IL shall at all times mali
tain Its capital stock intact. The CO.
. poratfon may refuse to transfer stoc
when the shareholder asking for the tran
fer Is at all indebted to the corporatio
Whenever the stock offered. in the maj
ner hereinabove provided, Is not wantt