The herald. [volume] (New Orleans, La.) 1905-1953, 1921-08-11
CHARTER.

or
of the provisions of the laws Of Louisiana
relative to the organization OF corpora
tions they have contracted ana agreed,
and do by these presents contract and
agree and bind and obhgate themselves,
ms well as ali such persons as may become
associated with them, to form themselves
into and constitute a corporation and body
politic in law for the objects and purposes
and under the conditions aud stpula-
lions Of the articles following, to-wit:
ARTICLE 1.-The name and style OF
said CORPORATION shall De LOWREY COT
TON co, INC, and under its said cor
porate name 1t shall have power ana au-
thority and enjoy succession for the full
term and period OF ninety nine years from
and after the date hereof; to contract,
sue and be sued; to accept and receive, as
well as give and grant, mortgages, pied
ges 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; TO
name and appoint such managers and di-
rectors, officers and agents as the inter
est and convenience Of said corporation
may require; to make and establlsh. az
well as alter and amend at pleasure, such
bylaws, rules and regulations for the
proper management OF the affairs OF said
corporation as may be necessary and
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.
poses Of this corporation and the nature
of the business to be carried on by II 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 a 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-
nient 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 (S10O 100000 Dollars, divided in
to or represented by One Thousand (1000)
shares of the par value Of One Hundred
(S10000) 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 or 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 a Board of Three Directors, each
of whom shall hold in his own name on
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 Manager and they
their number such other officers as they
may think proper or convenient for the
carrying on of the Company's business
and shall have power to unite two or more
offices and the same to confer upon one
person, or to dispense with any office In
their discretion, and to fix the salaries
of all officers, agents and employees The
Board of Directors shall be elected annu-
ally on the first legal day of May of each
year, the first election to be held in the
l hal ha hv
ballot at the office of the corporation
| Notice Of annual meetings. as well as OF
| special meetings of the stockholders, shall
De given by written notice mailed al
! least fifteen days in advance Of the date
OF such meeting to each stakeholder ap-
pearing as such on the books Of the
Company, at his last designated address
or at the General Delivery at New Orleans
II he has not designated an address. Each
| shareholder shall be entitled to one vote
for each share of stock standing in his
name on the books Of the Company said
vote TO be cast in person or by proxy
and majority of the votes cast shall
elect. The Board Of Directors shall have
power to fill all vacancies which may
occur or In any manner arise or be created
by the Board Of Directors. even though
no quorum remain at the time such va.
cancy or vacancies are to be filled. Fail
specified shall not dissolve the corpora
ton, but the directors then in office shall
remain in office until their successors are
elected. The Board of Directors shall
nave power to make and establish as wei
as alter and amend, all bylaws, rule,
ana regulations necessary and proper fol
the support and management Of the af
rairs and business Of the corporation and
not inconsistent with its charter. TIL.
| board shall have power, without referrins
TO the stockholders, to borrow money
execute mortgages, Issue notes, pledges
ponds or other obligations, in such a
mounts and on such terms as in theil
Judgment may be advantageous, and gen
orally to do all things reasonably neces
sary Tor the proper carrying on Of tn,
business OF the corporation, and they ar,
especially authorized to deliver fuli-pait
shares OF stocks and bonds or other OBJ
ugauons OF the Company in payment o
property acquired by said corporation a
sucn fafr valuation as in their judgmen
may be proper. majority OF the direc
tors shall constitute a quorum for tn
transaction Of business. The Board O
directors shall have the power. by a yot
OF not less than two-thirds of all directors
70 sell all or any part of the property
movable and immovabIe, belonging to til
corporation. or to receive In exchaug
tneretor money or stocks or bonds O
otner obligations Of another Individual
urn or corporation, Of any character, with
out referring to the shareholders for powe
20 40 So At any meeting Of the Board O
directors, any director absent from tn
meeting may be represented by any othe
director who may cast the vote Of sal,
iii Cat Th>.> De-.