New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1868-10-29

provided the Cashier shall be
the members of the Board, m.
power to I'LL any vacancies in
which may occur from death
or other cause; Provided, thn
death, or disability from any =
President, the presiding an
Mechanic Society shall assume NJ K
The quorum for transaction
shall consist of seven members $500.
have power to deputize an on
cred to administer oaths, in ali + ~,
it may be required by the byhEf&iJ
lations. They shall have poEe,
possess such real estate as NAV -.
for carrying on the business n 4 ~
Institute, and such other real e
be acquired from the foreclos1 '<.'.
gage in the collection of its deb = 2
SEC. 4. Be 1t further enacted 4 !,
any trustee, officer or clerk, on ssir
Institute, who shall appropris.l d /.
use, or to the use of others, An, ~
funds or effects, of what KIM 49,
longing to the Institute, shall M;
guilty of a felony; and On -
thereof, shall be punished by il at 4
in the penitentiary, at hard lab "
not less than one year nor ma
years, at the discretion of any n ~
potent Jurisdiction. I,
SEC. 5. Be it further enactea
no trustee or ott er officer of TIM ~
shall, either directly or indirec -
nor shall the corporation loan
funds to any such trustee or Off Has;l
said, nor shall any funds be Ia, ~
ties or securities furnished byws sf.ti
to such trustee or other officer -
ration. "
SEC. s. Be it further enactei
the said corporation shall be Al ~ :
receive on deposit, from all pers WHIT
money from one dollar upward
out the same, by check or otbs ~ VI
out the authorization of the pasl ~ ~
of minors, or the husband Of tfSists
woman for which sum of mi
shall be allowed in accordance v.....s.l..
visions of this act, and the bvnnu1
Institute. WMl
SEC. Z. Be it further enactei 49,
the investment of the funds Of at
tlon shall be strictly limited to h,
of the public debt of the Ulk, VI
ofthe State Of Louisiana, or oftA1x1 81
Orleans, contracted by authorih
gislature of the State, and to d faniiol
by mortgage upon unincumbg e4ney'
proved real estate within the p. 's."
city of New Orleans: PROVIDE he 4
loans shall be made on any bond 1nkoS
of debt before enumerated to ~
exceeding sixty per cent of its nj
or on real estate exceeding tiftY {Hrf4
on the appraised cash value NIL 4
offered as security: Provided nv +
make temporary deposits in az y TX
corporated banks of the city Of
tor the safe keeping of the unS -
funds OF the corporation, and ~
for an allowance of interest tfnr
posts. ~
SEC. g. Be it further enacted -,
all pledges of bonds or other \ s.-f
loans made under and by virtu -
ceding section shall be made toas-e,-
or such other officer as shall, HI. s,i
of Trustees, be thereunto am - n
that such pledges, when by6.
and accompanied by deliyerE q =
ject pledged, shall be valid as 10, ~
third persons as against all pleds n
Sec. 8. Be it further enacted antion
it shall be the duty of the Boariad q III
to publish annually, under The
the treasurer or cashier, in ~. -
Of the city of Nev q r A
full and detailed statement of II
Of the corporation, which shaI kIT(
fore the General Assembly OF We Z
the regular session of that b0iCNaar t
contain the amount or deposit
Of depositors; the amount inv SI,,
public debt Of the United States
state and of the city of New ltAkH
amount loaned on mortgage Of
The names of the banks in Whi ftea 4
funds are deposited, a fss,to
particulars which may be reqra
exposition Of the affan-
Doration. nj
SEC. 10. Be it further enacted
40 misnomer of the corporal EkK Al
Iced, gift, grant or demise, or d GaI
nent of contract or conveyance f3htion
disposition, shall Yaln 81 oil
eat the same: Provided, That
ion shall be sufficiently describs azz...-.
' shs shf IL ln Be Il at & Rs UsH
he corporation shall be capab.s-s,..s.1.
'eceiving donations, requests al NJ NJ
whether of money or OF real s7-f II
hall employ the rents, profits
If property so donated for Tx
purposes for which the corpOJ AND
his act created.
Sec. IL. Be it further enacted,
IL sums deposited with the S. -
ute shall be repaid TO the depa y l.
UGH regulations as the Board -,
hall prescribe. fHCT
SEC. 10. Be it further enacted los
his act shall take effect and A~~
rom and after its passage. NJ
(Signed) CHAS. W. L
Speaker Of the House of Repr nr :,
(Signedl OSCAR J.
lieutenant Governor and Presls1sI S
Senate.
Approved October 81, 1865.
(Signed) ii. @. WARynasa to
Governor of the State Of
A true copy:
GEO. E. B0lEHH a