The herald., 1921-08-18
CHARTER.

names are hereunt0 subscribed, WHO sew
orally declared that, aValllne themselves
relative to the organization OF corpora
lions. they have contracted and agreed,
and do by these presents contract ana
agree and bind and Obhgate themselves
as well as all such persons as may become
associated with them to form themselves
into and constitute a corporation ana BODY
noIitic in law for the objects and purposes
and under the conditions and stlpula-
tions of the articles following to-"it:
ARTICLE 1.-The name and style OF
said corporation shall be LOWREY COT
TON co. me and under its said cor
porate name il shall have power and au-
thority and enjoy succession ior the iuIl
term and period of ninety nine years from
and after the date hereof; TO contract,
sne and be sued to accept and receive, as
well as give and grant mortgages, pied
ees or other hypothecatiOns; TO make and
use a corporate seal and the same to break
and alter at pleasure; to purchase receive
| lease hold or otherwise acquire and con
yey. as well as mortgage and hypothe-
cate under it's corporate name, property
both real and personal and mixed; 70
name and appoint such managers and d.
rectors, Officers and agents, as the inter
est and convenience of said corporation
NAV require; to make and establish, as
well as alter and amend at pleasure, such
| bylaws, rules and regulations Tor the
proper management OF the AFFAIRS or said
| may NC HNNNS'"As NA'N
proper.
| ARTICLE 1.-THE domicile OF said cor
| poration shall be in New Orleans, Parish
| of Orleans. State of Louisiana, and all
citations or other legal process shall be
served upon the President of said corpor
| alton or in case of his absence upon the
| Vice President, or in the absence of both
of these officers upon the Secretary of
the corporation.
| ARTICLE III.-The objects and pur-
l
| of the business to be carried on by il are
and hereby are declared to be- in the State
Of Louisiana and elsewhere in the United
States and in foreign countries to pur-
chase or otherwise acquire, and TO sell
or otherwise ALLEVIATE and dispose OF, and
| to mortgage. pledge and hypOthecate, agri-
cultural products Of all kinds, particularly
| cotton, and any and all merchandise; TO
do general commission, factOrage, mer-
camille, warehouse and manufacturing bust
ness in connection with any of the staple
crops of the United States, including the
| advancing of money and supplies to plan
tiers. farmers and merchants, and a gen.
eral mercantile business, and to those ends.
| to purchase, use, lease, cultivate, sell.
mortgage, pledge, or otherwise dispose of,
real or personal property, plantations, or
city or town property, and generally to
do all acts and enter into all contracts or
| obligations that may be necessary. conve-
nienf, or appropriate for the accomplish
ment of said purposes or any OF them or
| germane thereto; and to do all and every
| thing incidental to the general purposes
hereinabove stated and declared.
| ARTICLE IV.-The capital stock Of said
corporation is hereby fixed at One Hundred
Thousand ($1O00 100000 Dollars, divided in
to or represented by One Thousand Q0O0)
shares Of the par value Of One Hundred
4 ($10000) Dollars each. The whole Of said
stock, or any part thereof, may be issued
or delivered to any person, firm or cor
poration for the requirement Of the rights
privileges, franchises property, servitudes
or any part thereof, owned and controlled
by such person or corporation, also in
payment, settlement and adjustment of the
costs, fees, charges, expenses and COM
missions incurred or for services rendered
! in the formation and organization of this
corporation; also for cash or in Install
ments of such amounts as the Board OF
Directors may determine; also for mer
chandise received for services actually
rendered TO this company. The Board OF
Directors hereinafter created is especially
authorized to dispose of the stock, or any
part thereof. for any and all of the pur-
poses above stated as in its judgment
may seem fair and proper.
ARTICLE V.-All the powers of this
corporation shall be vested in and exer-
cised by Board of Three Directors, each
of whom shall. hold in his own name or
the books Of the Company at least one
unpledged share of stock. The Board
shall elect from their number a President
a Vice-President, and a Manager and they
may also elect but not necessarily from
their number such other officers as they
may think proper or convenient for tn,
carrying on of the Company's business
and shall have power to unite two or NOR,
offices and the same to confer upon on,
person, or to dispense with any office in
their discretion. and TO fix the salarie,
OF all officers, agents and employees. TIT
Board of Directors shall be elected annu
ally on the first legal day of May of eacl
year, the first election to be held in tn,
year 1922. All such elections shall be By
ballot, at the office of the corporation
, Notice of annual meetings, as we'll as O
special meetings of the stockholders, shall
be given by written notice mailed a
, least fifteen days in advance of the dat
, Of such meeting to each stakeholder ap
Company. at his last designated address
or at the General Delivery at New Orlean
/ If he has not designated an address. Eacl
shareholder shall be entitled to one vot
for each share of stock standing in hi
name on the books of the Company sal,
r vote to be cast in person or by proxy
and majority Of the votes cast shall
elect. The Board of Directors shall hav
power to fill all vacancies which ma,
occur or in any manner arise or be create,
; by the Board of Directors. even thougl
D no quorum remain at the time such va
, cancy or vacancies are to be filled. Fail
! ure to elect directors on the day abov
: specified shall not dissolve the corpora
ton, but the directors then in office shal
remain in office until their successors ar
Z elected. The Board of Directors sha
nave power to make and establish, as we
' as alter and amend. all bylaws, rule
and regulations necessary and proper 70
j the support and management OF the a
e fairs and business Of the corporation an
a not inconsistent with its charter TIL
e Board shall have power, without referrin
TO the stockholders, to borrow none,
: execute mortgages, issue notes, pledges
9 bonds or other obligations, in such q
7. mounts and on such terms as in theI
d judgment may be advantageous and ger
orally to do all things reasonably neces
/ sary Tor the proper carrying on Of tn
= business Of the corporation, and they al
: ESPECIALLY authorized to deliver fuli.pai
4 shares OF stocks and bonds or other OF
legations Of the Company in payment
y property acquired by said corporation ,
= such fair valuation as In their judgmer
" may be proper. A majority of the dire,
l. tors shall constitute a quorum for II
:, transaction Of business The Board ,
g Directors shall have the power. by a vol
e or not less than two thirds Of all director
TO sell all or any part of the propert,
movable and immovable, belonging to Ii
4. corporation. or to receive in exchanf
/ therefor money or stocks or bonds
other obligations Of another individus
nrm or corporation, Of any character, witt
out referring to the shareh olders for pow,
q 70 DO so. At any meeting Of the Board ,
directors, any director absent from Il
meeting may be represented by any 9th,
director who may cast the vote of sal
q absent director according to the gener
or special written instructions Of sal