The herald. [volume] (New Orleans, La.) 1905-1953, 1921-07-21
CHARTER OF KEATON OIL & DRILL
ING COMPANY, INCORPORATED.

| July 14-August Is.
CHARTER OF KEATON OIL DRILL
ING COMPANY, INCORPORATED.
United States of America State Of
| Louisiana, Parish of Orleans. Be 1t
known, that on this twenty second day OF
| the month of June, in the year OF our
| Lord, one thousand nine hundred ana
twenty one t1921), and Of the Independence
of the United States of America, the one
hundred and forty-fifth (145th); before
me- Henry Leon Sarpy Notary Pubnc,
duly commissioned and qualified for 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, who de-
clared that, availing themselves or 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 its corporate name 1t shall enjoy
| succession for the full term of ninety
nine (99) years from and after the date
hereof; and it shall have power and au-
/ thority to contract, sue and be sued In
| it's corporate name; to accept and receive
mortgages, pledges or other hypotheca-
| tons: to make and use 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 its 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 he 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 III.-The objects and pur-
poses for which this corporation is orga-
nized and the nature of the business to be
carried on by it, 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
by-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 it's 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
y.
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, 000O divided into
and represented by Two Hundred (200)
shares of Preferred or Guaranteed stock
| of the par value of One Hundred Dollars
| hundred (COM
| 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 ($100. 0000O, in the same proper
ton Of Preferred and Common Stock as
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 IL, in writing.
to the other then stockholders and to the
| 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 ten
full days Of the time that the application
for the transfer Of the stock is made. The
corporation shall transmit the offer to
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 IL 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
may use Its surplus earnings or profits in
the purchase Of such stock, but the cor
poration shall at no time use any part Of
Its capital stock for such purpose, but
on the contrary 1t shall at all times main
tain Its capital stock intact The cor
poration may refuse to transfer stock
when the shareholder asking for the trans
fer is at all indebted to the corporation.