The herald., 1922-03-30
CHARTER.


| $500. 000.0O) dollars of the capital stock
has been subscribed for and actually paid
| in, either in cash, property, or services as
aforesaid; if any of the stock of this
corporation is exchanged in whole or In
! part for property or good will, in that
! event the provisions Of Section Three 81
| Of Act Pc of 1914 shall be strictly COM
! piled v it'll.
ARTICLE v-All of the powers of ,hls
corporation shall be vested in and eNer-
ciSed by a board of directors composed
of five 90 stockholders. each of whom
shall own in his own right, at all times
during his term of office. ut least one full
paid and unpledged share of the capital
stock of this corporation, which fact shall
be shown by his written declaration. Said
board shall have the right AT any time to
increase its number not to exceed seven
! "a directors. Said board of directors
shall have the right to dll all vacancies
on said board resulting either from death,
inability or resignation or other cause,
or because of the increase in the number
of said board. even though no quorum re-
main at the time such vacancies are TO be
filled: said board of directors shall be
elected annually by ballot at a stock
holders meeting called for that purpose
on the second Tuesday in April of each
year Tor the next day if that be a holt
day. after due notice given TO the stock
holders by mail, at least fifteen tlJ) days
before the date of such meeting. Each
holder of stock shall be entitled to one
each share of stock standing in his name
ON the books of the company. and a ma
Jority of the votes east shall elect.
Failure to elect directors on the day
above specified shall not dissolve the cor
pOratiOn, but the directors then in office
shall remain in office until their success
sors are elected and qualify. The board
of directors shall elect from their number
president. a yice-president and a secre-
tnry and treasurer provided that the
of 0f
ii"ers and tori may combine any of them,
and may appoint such employees twhO
need not be members of the board of stock
holders) they think proper or con
venient for the carrying on of the COM
panyS business, and they shall tx the
salaries of all officers, agents anG en-
plCyees. The board of directors shall
have authority to make and establish, al
We'll a. alter and amend. all bylaws. rules
AID regulations necessary and proper for
the support and management of the bust
ness and affairs of the corporation and
not inconsistent with this charter. and
they shall have the power to authorize the
borrowing of money and the issuance of
notes, and the executions of mortgages
and pledges, and generally to do all
things necessary for the proper carrying
on of the business of this corporation. \
quorum of the board shall consist of not
less than four "a directors.
Until the general meeting of the stock
holders for the election of directors TO be
held on the second Tuesday of April, 1923.
or until their duly qualified successors
are elected and installed. the board of di-
rectors shall be composed of: ThOs. S.
Logan. 1913 n. DOrgenOis St. New Or.
leans. La: II. NJ. Carter. 2021 Chestnut
Street. New Orleans, La; T.. c. Carter,
2SJ5 Magazine Street. New Orleans, La.
\. LAURA, 1924 St Charles Ave. New Or
leans, La: a. p. POrtas, 1924 st. Charles
Ave. New Orleans. La. OF the foregoing
II. NJ Carter shall be president, +. q.
Z pp-n A
secretary and treasurer.
ARTICLE VI-This act of incorporation
may be changed. modified or amended,
or the corporation dissolved. by a vote
of two-thirds of the entire capital stock
present or represented at a general meet
ing of the stockholders convened for such
purpose after previous notice shall have
been given in the manner above required
to he given of the annual meeting of the
ARTICLE Wifi this corporation shall
be dissolved. either by limitation or from
any other cause. its affairs shall be liqui-
dated by three commissioners to be APP
pointed AT the meeting of stockholders
convened for the purpose of liquidation
said liquidators shall remain in office I'M
I'll the affairs of the corporation shall have
been fully settled and liquidated and
they shall have full power and authority
to transfer and give title to all the pro-
perty and assets of the corporation and
to distribute the proceeds. In case of
more liquidators, the vacancy shall be
filled by the survivor or survivors.
ARTICLE yIII-No stakeholder shall
ever be held liable or responsible for the
debts, contracts or faults of said corpo-
ration In any further sum than the un.
paid balance due on the shares of stock
owned by him. nor shall any mere in
formality in organization have the effect
OF rendering this charter null or of ex-
posing any stakeholder to any liability
beyond the amount due on his stock
ARTICLE KIN order that this char |
Ter may serve as subscription list. the
Undersigned incorporators of this cor
poration have subscribed for the num-
Der OF shares set opposite their respective !
names. The subscription to said capital |
stock by III. VI. Carter. Trustee shall be |
wholly paid for in property to be ex-
changed and transferred to this corpora
ton. In connection with said subscrip- |
ton of III. NJ. Carter. Trustee, and the ex- |
change of said property for stock. there |
is annexed to this act of Incorporation. |
and TO be read in connection Herewith |
an accurate. detailed and itemized descrip- |
ton of such property as to amount. loca- |
tlon, extent. character and state of i'm
provement, together with a statement of |
its value as appraised by the directors
Those done and passed. in my office |
in the City of New Orleans. on the day.
month and year first above written, in the |
presence of J. n. Swing and f. III. Krause
competent witnesses, and me- notary after
due reading of the whole.
Witnesses: J. y. Swing. E. H. Krause.
ORIGINAL SIGNED):
FRANCIS p. BURNS,
Notary Public.
l. the undersigned. Recorder of Mort
cages in and for the Parish of Orleans.
state of Louisiana, do hereby certify that /
me above and foregoing Act of Incor-
poration of Claiborne Central Oil
Company. Incorporated. was this day
July recorded in my Office in Book 1868.
folio -
New Orleans. March 18th. 1922.
(Signed): ROBT. SCOTT.
Deputy Recorder.
FRANCIS P. BURNS.
March 23-Apr. %.