New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-06-30

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Parish Of Orleans. CITY Of New Oriasns
Be it known. that on this second day Of April "
the yssr Of our Lsrd one thous.nd sdeht hTndtsd
ndssvsnty, and Of the Independence o. tns ma
The ps1sh of 6fssns state 81 Leui.ians duh CON I'm
sonsiy came AID appeared. Patrick !r:ln, Aschi-
s saas Ed~.sS 6on.ry John Hsnd:rson Thonas Ne
Kenpe. Themas Ftzxi!iiam: nSwsro 1 Gilmore. Of
thiscity and the parties whose nsmss are hsreunso
declared that. sy.iins thsmssyss Of +: pro-
ing. in the state Of Louisians, and the duties Of
a. on Sss d:y of Sch 1870 they
agreed. and do by these presents agree ana Dina
selves into and constitute an assoqaton Or corpor
alton for the objects and purposes s?ec
ned and under the stipulati6ns following, TO VIII
ARTICLE L
III baHs 8 81 1 new
ARTICLE II.
This association is formed for period Of twenty
years. .,u,crr TIT
The object of this association 10 to carry on the
business Of banking by disconnting biiis notes ano
o11. s,ps eoiS and silver CON- Suon
change. real estate iosnns money on real and Per;
sonai security and TO exercise ai 81 On incids ta
ARTICLE ~.
The place Of business and legal domicil Of said
sssoclstion shall be the city OF New Oriesna
ARTICLE v.
The capitsl stock Of this association shsll 30 i've
zach. ten per cent Of which shall be payable the
ssaDf ss the ten nhs
Should any subscriber neglect 70 pay punctraly
or shares, a. they fall dus the subscriber shall be
charged interest at,he rate OF eight Per cent per
Any Any subscriber neglsctiDg or refusing to pay the
instament or instaments within the delay Of pine
" days after the time fixed for ths pa, nsnt Of TIE
rectors after thirty days notice. shall declare the
same forfeited to the Bank. including all previous
ihe capital stock Of this Association may here
after be increased to any sum not exceeding one
hundred dollars sioo each. vhsnever sach increase
shall be authorized by twothirds Of the stockhold-
srs and provided thirty oass notice. o. me ssS
in the city Of New Orleans within which tins stock
holders shall have the privilege Of taking additional
shares in proportion to the mum Der OF shares held
I Shares not taken At the expiration Of said time
than par for the benefit Of the association.
ARTICLE vi.
This association shall commence operation after
he payment Of the second instamsnt Of the capita!
stock by the shareholder. or when one hundred
thousand dollars lSlOO. COCO are paid In.
ARTICLE VII.
The device and seal Of the association shall be an
Frsh harp with Hibsrnia Bank of New Orleans en-
kraved around it.
+ ARTICLE VIII.
| All powers of the Association shall be vested in
a.rd Of directors consisting OF tTsi;s persons,
nfv-H uhup nf tnrk nj
tis association.
in the third Monday Of January. 1871. and an
naliy thereafter an election OF directors by the
nsjority OF votes then and there given shall
svious notice of At least thirty go, days Of said
slqion shall be gwen in At least two newspapers
puiished IN New Orleans.
ARTICLE x
Tt following named persons are hereby chosen
and hall compose the frst Board of directors, to
serv. until superseded BY the new board, to be
Patck Irwin, Archibald Montgomery,
huh McUloskey. Adam Thomson.
EdSrd Oonery. John Henderson,:
EdS-d Burke. William Hart,
Nich.ss Burke. Thomas Gilmore.
The bard Of Directors shall. at their first meet:
ing. ess one Of heir members to DO president and
one to b wee president Of the association.
PROVED, said president and vice president re-
ceve ns less than q majority OF the votes OF the
Ali cit,ons or other legal process shall be- served
on the resident. or in his absence, on the vice
The dpr of the president shall be to preside at
ans
and in cA{ of his absence or inability to act the
directors r37 elect, from their number presoent
pro tsmols who shall. for the time being. e4erc &c
the full poWrs Of the president or wee president
ARTICLE XII
The numtr Of directors necessary for discounting
notice and dtts and purchasing Us OF exehange;
and for thelransaction of general business. shall
be dstermind by the bylaws OF the association.
ARTICLE Kill
The Boarpf Directors shall have full power to
make bylaw. appoint ali officers OF this ASSOCIATION,
That said Ippointments be made annually, and
held subiecta 10 removal At the pleasure OF the
they shallsn the security to be given By the
officers respectively.
interest Of th Ascension demand it, and appoint
agents wthnnd out Of the State, under rules to be
prescribed b4he board.
ARTICLE xiv.
Tho Board Directors after paying all the expen-
ses of the assoation SHALL tw,cs or oftener IN eacn
year. il the prits Of the business justify IT, declare
Notice Of Is same shall DO published in st least
two newspapss published in the city OF new Ut
''-.'' ARTICLE XIV.
The Board o1)irectors shall have power to fill any
vacancy that ny occur in the board.
ARTICLE XVI
Vacancies inthe Board of Directors mag be de-
csred in conse ence Of death, resignation, oefaca
tion, nsovency1r absence without leave tor ninety
consecutive day.
ARTICLE XVII.
Every tranfer Il any share shares of capital
stock shall be mite the books OF the ASSOCIATION
and shall be sIs,ed by the shareholder or his at
torney. bat no sockholder shall have the right to
transfer his etoo unless his matured Obligations TO
the bank are paidor secured.
ARTICLE XVIII.
The Board of Directors may close the transfer
book as often cnvenience may require, out Tor no
longer than ten Consecutive days at any one time.
iRTICLE XIX.
No certificate of stock shall be issued unless all the
irstallments havebeen paid in full.
ARTICLE XXX.
The fsilure, from any cause, to elect directors on
the day when suchslection should nave been nelo,
snail not dissolve the association.
The directors then in office Oh all n0lo over. Dut u
shall be their duty appoint another DAY for sucn
election notice of which shall be given IS provioed
in article nine urti the election shall have been
held.
Each shareholder shall be entitled directly or by
uroxy at all elections for directors any mat er
at ami eeIng of the stockholders TO one vote upon
each sasre provided stock shall vote IN ms
own name over one tlU0) hundred votes. ana pro-
vided aso that after the first lection snail nave
owned the stock At least three months previous 70
voting.