The Bienville Democrat., 1922-06-15

ing stoves and to acquire, own anu
dispose Of real estate, and all KINGS
of personal property: to acquire own
and operate pipe lines and tank lines
and cars and all necessary Appliances
for the purpose Of transmitting any
and all kinds of oil. gasoline. kerosene
and grpaSeS of all kinds: to acquire
build. own and operate storage tanks
for oils, gasoline and sreases OF all
kinds. and generally to DO perform
any and every act necessary to carr!
out the purposes herein provided Tor
or that may be incidental thereto.
ARTICLE 3.
The capital stock of this corpora
ton is fixed at TEN THOUSAND
(S1O.GO0.OW DOLLARS, divided III
to ONE HUNDRED ,lO0) shares OF
the par value Of ONE HUNDRED
($1OOOO) Dollars, each which may be
paid for in cash, property Transferred
to the corporation, or for services per-
formed for it at a valuation TO be
approved by its Board Of Directors
and all stock when issued. shall De
fully paid and worcestershire. Th'
CORPORATION shall begin business when
FIFTY 900 shares are subscribed and
pad for in accordance with law. This
corporation shall have authority to in'
crease its capital stock on complying
with the law relative thereto, to an
amount not exceeding TWENTY FIVE
THOUSAND ($25,0OO.00) DOLLARS.
ARTICLE t.
The affairs of this corporation shall
be managed by and be under the con-
troll of a Board of FOUR az directors
who shall be elected by and from
among the stockholders at the annual
stockholders meeting which shall be
held on the second Monday in May of
each year. beginning with the year
1923. The following stockholders
shall compose the first board of di
rectors. to-wit: J. c. Roberts. X. f..
Smith, +. i. Reed, and d. a. Wood
ard who shall hold office and com
pose said Board until their success
Sors are elected.
ARTICLE ).
The officers Of this corporation
shall be a president, first vice preSl'
dent, second vice president, a Secre
tary and treasurer. The secretary
NAV also hold the office of treasurer
They shall be elected annually on the
second Monday in May Of each year
| beginning with the year, 1928 by The
Board of Direcors elected on said day
by the stockholders. which Board
shall Immediately organize and elect
said officers. The first officers OF
this corporation shall be J. c.
Roberts. president; R. L. Smith, first
| vice president; f. L. Reed, second
| vice president; and D. A. Woodland
secretary and treasurer, who shall
hold said offices until their cuccess-
ors are elected as hereinafter pro
vided and according to law
ARTICLE 6.
Meetings of the stockholders and
of the Board Of Directors my be held
as often as the needs of the business
may require, provided that for stock
holders meetings, written notice shall
be mailed to each stakeholder, at his
last known postotiice address or that
shown by the charter, at least fif-
teen days before said meeting is held,
and for meetings of the Board Of
Directors, written notice shall be
given to each member at least twenty
four hours before said meeting is held
provided that by consent of the Board
this notice may be waived.
ARTICLE I.
No informality in the formation of
this corporation shall have the effect
of annulling this charter, nor any