New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-05-24

dred and ninety.
The Board of Directors shall be empowered TO re-
oeiye further subscriptions, until the amount sub
scribed shall! have reached the aforesa sum OF
of payment prescribed in article fourth provided.
that all further subscriptions of stock shall be paid
in cash. at the time OF subscribing. to the full
amount of the installments matured the original
ARTICLE VII.
The capital stock of the Corporation may here
million dollars. provided ttat majority in amount
OF ali the stockholders shall vote for such increase
ARTICLE VIII.
After any increase of capital shall have been duly
authorized sixty days thereof shall be given
in two newspapers published IN the city OF New
Orleans wit hin which tine stockholders shall have
the privilege of taking additional shares, pro9or
ton TO the amount OF their stock. Shares not AIKEN
at the expiration OF said tine, may be sold oy the
Board of Directors st not less than par, for the
benefit OF the Corporation.
ARTICLE TX
On all mat ailments in default, interest at the
OF eight per cent per snnum shall be charged. and
the Board OF Directors, after ten days notice. BY
advertisement shall have the rig to forfeit and to
cause to be sold any STARE or snares on which any
instams may be due and remain unpaid, for the
bsnent OF the Corporation.
ARTICLE X
No certificate of stock shall be issued unless paid
in tuii.
This Corporation shall have seal, the device OF
which snail be the bust of the Marquis de Lafayette.
with the name OF the Corporation in the margin.
ARTICLE XII.
All powers of the Corporation SHALL be vested in a
Board OF Directors consisting of thirteen persons
each Of whom sha all hold in his own name and right,
or of the firm OF which he is member. at least
twenty shares of the capital stock of said Company
ARTICLE Kill
The first Board OF Directors shall be composed of
the following named persons all citizens OF this
SEAMAN aaop IoH1 Jr' John 4 Braseman.
John p. Higgins, Gus A. Breaur.
John u. Fleming, John A. Watkins.
Lloyd r. Coleman,
Who shall have power to procure banking house.
they shall continue in office until the first day OF
May, eighteen hundred and seventyone.
ARTICLE XIV.
The Board of Directors SHALL at their first meet
ofthe Corporation whose DUTY it sha be to preside
at all meeti gs of the Board He shall have charge
the CorDoraton also of the blank notes intended
for Signature until authorized by the Directors to
case of absence or inability to act, the Directors
may elect from their number President pro tenn.
full powers Of the President.
ARTICLE XIV.
The Board of Directors may at any time make
such By laws as they may deem expedieat, and may
tepeai tuo S&lue at pleasure.
ARTICLE XVI.
The number of Directors for discounting notes
and drafts. aud purchasing bills of exchange, may
be determined by the bylaws Of the corporation.
ness by thsBoard five of said rectors shall be re-
CURED to form quorum. and the decision OF the
majority OF said quorum shall be valid as corpo-
ARTICLE XVII
The Board of Directors shall appoint q cashier,
clerks. officers and agents. and may remove the same
at pleasure, and shall the salaries OF ali the OIL
GERS of the corporation Said Board may also, from
time to time, delegate such power, in transacting
the ordinary business of the corporation. to com.
mittees of their own body. or to their officers or
agents, as they may deem e4pedient
ARTICLE XVIII
The Board of Directors may purchase out of the
may be held by law and transfer in pledge to the
Auditor of Public Accounts, o other proper officer
evidences of debt authorized to secure the payment
OF notes OF circulation issued by this corporation.
ARTICLE XIX.
The Board of Directors shall have power to sup
ply any vacancy that may occur in their board.
Such vacancy may be declared in consequence of
death, resignation, want of requisite number of
shares. insolvency absence without leave three
successive months.
ARTICLE Xxx.
The Board of Directors. after paying all the ex.
penses II the Corporation shall twice in each year,
declare ana pay such dividends out Of the surplus
same shall be published in two newspapers OF the
city OF New Orleans.
ARTICLE XXI.
Minutes of all proceedings of the Board Of D.
rectors shall be kept by the Cashier Ger flied by
the President.
ARTICLE XII
The President and Cashier shall sign all contracts
notes. certificates of stock and evidences debt OF
the Corporation.
ARTICLE XIII
Books for the registry and transfer of the capital
stock shall be kept subject to such restrictions as
~ y
ARTICLE XIV.
stock shall be made the books of the Corporation
and be signed BY the shareholder, his attorney in
ARTICLE XIV.
The Board of Directors may close the transfer
books as often as convenience require, but for
no longer than ten days at any one time.
ARTICLE XVI.
No share or shares of the capital stock shall be
bic unless paid in full
ARTICLE XVII
On the third Wednesday of April, eighteen hun
election of Directors by the stockholders, shall be
held at the banking house Of said corporation; a
plurality OF votes then and there given, shall elect.
thirty oays in two newspapers published in the city
of New Orleans All elections Tor Directors shall
~ - ~ ARTICLE XVIII
Each stakeholder shall be entitled, directly Or by
proxy to one vote on each share of stock the Cor
poration owned and held by him in mis- name,
or trustee or legal representative of others tor
at least three months prior to an election.
ARTICLE xxx.
Two partners shall not be ELIGIBLE, at the same
time. Directors Of this Association. Nor shall
Director of any other bank be Director of this
Corporation. .
ARTICLE XXX.
Every election of directors shall be supsrintended
by three comn issioners. to be appointed from the
stockholders by the Board Directors one week
previous to said election.
ARTICLE XXI.
The failure from any cause to elect directors on
tne DAY when such election should have been held
sEa not dissolve the speratiop but the directors
lnen In ofca shall hold until their successors
are elected and qualified; and, any time within |
'l1ty after the day appointed article twenty
seven, tney snail cause, after thirty days notice. |
such election to be held.
ARTICLE XXI.
majority of all the directors elected may p-oyi
'lonaly accept any additional power, Or privilege
hat may hereafter be conferred upon the Corpora
ion, either by amendment of the act under which IL
md may amend these articles of association: but |
he final adoption and acceptance of such additional
,ower or privilege, or amendment of those arVi- |
les shall be b. vote OF stockholders in the man
Ter provided by law.
ARTICLE XXXITI
The liquidation of the affairs of the Corporation
hal be made by the com mssiooers elected by the
tockholders, at IneatiEg convened for
hat purpose. after three months previous
ity of New Orleans. Each Of SAID comnissio ners
ssu be citizen Of this state and not lndeb ted to
he corporation, and, at such meeting the stock |
olders may cede r such Commissioners all powers