New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-06-05
CORPORATIONS.
CHAKrEH. 800 'CHAAHh*
UNITED STATES OF AMERICA-STATE OF
LOUIsIANA-CITY OF NEW ORLEANS.

LOUISIANA-CITY OF NEW ORLEANS.
Be it known that before me. Thomas Jeneison
Beck. q notary public in and for the parish
ana Aforesaid. duly commissioned and sworn. Per:
sonay came and appeared the persons nereinsted
and whS
and those whom they represent. into re t
under authority Of an act Of the Legislature 9. tns
spp!oved on the fifteenth Day Of March one thou:
sand eight hundred and fifty five. to which eno tney
make and agree to tie following
Articles OF Association:
The corporate name of the association shall be
1.-THE BANK OF LAFAYETTE"
ARTICLE II.
The object of the association is to carry on the
business Of banking by discounting bills notes and
other evidences of debt, receiving deposits ouying
and selling gold and silver bullion, bills OF ea.
real and personal security, and to exercise al
such incidental powers are now. or may Do mere
after authorized by law.
ARTICLE III.
The place of business and legal domicil OF said
Corporation shall be located in the Fourth Oisllct
of the city of New Orleans.
ARTICLE w.
The capital stock of said Corporation to be Two
Hundred Thousand Dollars, divided INTO -Four
Thousand Shares of Fifty Dollars each, payable IN
on the sss ds as Of Msy s Der cent
on the first day of August. 1870. Twenty -nve per
cent on the first day Of NovemoeE is1C Ana a twenty
ARTICLE v.
The bank shall be put in operation SO soon as one
hundre thousand dollars shall have been sub,
scrlbed and the requisitions of law are comphed
with and shall terminate in the year eighteen nun
o'eu "no A'n''' ARTICLE vi.
The Board of Directors shall be empowered to re-
oeive further subscriptions, until the amount sub.
scribed shall have reached the aforesaid sum OF
two hundred thousand dollars, upon the same Terms
of payment prescribed in article fourth; provided,
that all further subscriptions of stock shall pc pal1
in cash. at the time OF subscribing, TO me iaii
amount of the installments matured on the original
stock.
The capital stock of the Corporation may here
after be increased to any sum not exceeding one
million dollars. provided that majority IN amount
Of all the stockholders shall vote for such increase
ARTICLE WILL
After any increase of capital shall have been duly
authorized sixty days notice thereof shall be gwen
Orleans within which time stockholders shall have
the privilege of taking additional shares IN proper
at the expiration of said time, may be sold by the
Board of Directors at not less than par, Tor the
benefit OF the Corporation.
ARTICLE TX.
On all installments in default, interest at the rate
of eight per cent per annum shall be charged. ana
the Board of Directors, after ten days notice. BY
advertisement shall have the right to forfeit and TO
cause to be sold any share or snares, on which any
ins tament may be due and remain unpaid, for the
benefit of the Corporation.
ARTICLE X.
No certificate of stock shall be issued unless paid
ARTICLE XII
This CORPORATION shall have . seal. the device OF
which sha Il 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
Board of Directors, consisting of thirteen persons
each Of whom shall hold in his own name and right
or of the firm of which he is a 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 TINS
seaman Hopkins. Jr.. John 4 4 b. Freshman.
John ?. Higgins. Gus A. Breaux
John G. Fleming, John A. Watkins.
"ililam d. f's'g Liovd r. Coleman. O. 'enA0''
Who shall have power TO procure a banking house.
appoint officers and put the bank in operation and
May, eighteen hundred and seventyone.
ARTICLE XIV.
The Board of Directors shall. at their first meet
ing, elect one of their members to be the President
of the Corporation, whose euty it shall be to preside
at ali meetif rs Of the Board He shall have charge
of the bonds of the Cashier and OF all 9th :ers OF
the Corporation; Also of the blank notes intended
for signature until authorized by the Directors to
be issued and signed by him and the Cashier. In
case of absence inability to act, the Directors
may elect from their number a President pro tenn.
who SHALL for the time being have and exercise the
full powers of the President.
ARTICLE XIV.
The Board of Directors may at any time make
SUCH by laws as they may deem expeolent, and may
repeal the same at pleasure.
ARTICLE XVI.
The number of Directors for dscounting notes
and drafts, ard purchasing bills of exchange, may
be determined by the bylaws of the corporation,
but for the Transaction of any other kind ct bust
ness by the Board, five of said rectors shall be re-
majority of said quorum shall be valid as a corpo-
'"'' ~" ARTICLE XVII.
The Board of Directors shall appoint cashier
clerks. officers and agents. and may remove the same
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 expedient.
ARTICLE XVIIIi
The Board of Directors may purchase. out Of the
funds of the corporation any evidences OF debt that
may be held by law. and transfer. in pledge to the
Auditor of Public Accounts, 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 tor three
successive months.
ARTICLE Xxx.
The Board Of Directors, after paying all the ex-
penses of the Corporation shall twice in each year.
declare and pay such dividends out OF the surplus
profits as they may deem expedient. Notice Of the
same shall be published in two newspapers of the
city of New Orleans.
Minutes Of all proceedings Of the Board Of pi-
shall be kept by the Cashier, and certified by
the President.
ARTICLE XXI.
The President and Cashier shall sign all contracts,
notes. certificates Of stock and evidences of debt OF
the Corporation.
ARTICLE xxIIL
Books for the registry and transfer of the capital
the by laws may direct.
ARTICLE XIV.
Every transfer Of any share or shares of capital
stock shall be made the books of the Corporation.
and be signed by the shareholder. his attorney in
fact.
The Board of Directors may close the transfer
books often as convenience may require. but for
no longer than ten days at any one time.
ARTICLE xXvI.
No share shares of the capital stock shall be
transferable unless paid in full.
ARTICLE XVII
On the third Wednesday of April, eighteen hun
dred and seventyone, and annually thereafter, an
election of Directors by the stockholders shall be
held at the banking house of said corporation; q
plurality of votes then and there given shall elect,
previous notice OF the same to be gwen, at least
thirty days. two newspapers published in the city
of New Orleans. All elections for Directors shall
be by ballot.
ARTICLE XVIII.
Each stakeholder shall be entitled, directly by
proxy to one vote each share of stock OF the Cor
poration owned and held by him il his own name,
or as trustee legal representative of others for
at least three months prior to an election.
ARTICLE xxx.