New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-07-13
, coRpoRAr1yJl1s.


l. Be 1t known, that on this second day of April in
the wear of our Lord one Thousand Eight hundred
and seventy, and OF the Independence Of the
United states Of America the ninety fourth; be-
in and for the parish OF New Orleans State Of Lou
siana duly commissioned and qualified, and in the
presence Of the witnesses hereinafter named, and
ses rEn
key, Adam Thomson, Edward COnery, John Hender-
ward Burke, William Hart, Nicholas Burke and
Thomas Gilmore of this city, and the parties whose
names are hereuntO subscribed:
Who declared that, availing themselves of the
provisions of the act entitled Gan Act relative to
banks the establishment OF general system of
Free Banking in the state OF Louisiana and the
thereto approved on the fourteenth day Of March,
1870, they have agreed, and do by these presents
sent to form themselves into and constitute an
sociaton corporation for the objects and purpO-
hereinafter specified and under the stipulatiOns
following, tO-wtt
ARTICLE 1.
The corporate name of the association shall be
the HIBEkNAN BANK OF NEW ORLEANS
This association is formed for period of twenty
ARTICLE III.
The object of this association is to carry on the
business of banking by dscountng bills notes and
other evidences OF debt receiving deposits buying
and selling gold and silver coin, bullion bills of
change real estate; lOaning money real and per-
sOnaf security and to exercise all such incidental
powers now are or may be hereafter author
lied by law.
The place of business and legal domicil of said
association, shall be the city Of New Orleans.
ARTICLE V.
The capital stock of this association shall be five
hundred thousand dollars Is 800 O0) divided into
five thousand shares Of one hundred dollars 1907
EACH ten per cent OF which shall be payable at the
signing thereof, ten per cent every thirty days
thereafter until the whole is paid up.
Iapy srl,sc "A u
his her share installment Of his or her share
or shares they fall due the subscriber shall be
charged interest at the rate Ut eight per cent per
ann,lm therefrom till paid.
ANY subscriber neglecting or refusing to pay the
nstallment or installments within the delay OF nine
ty days after the time fixed for the payment Of the
same and in the manner aforesaid the Board Of d.
rectors after thirty days notice shall declare the
same forfeited to the Bank, including all previous
payments that may have been made thereon.
The capital stock Of this Association may here
after be increased to any sum not exceeding one
one hundred dollars 1901 each, whenever such in
crease shall be authorized by twO-thirts of the
Stockholders and provided thitty DAYS NOTICE OF the
shed in the city OF New Orleans, within which time
Stockholders shall have the privilege Of taking ad.
ditiOnal shares in proportion to the number OF
shares held by them respectively.
shares not taken the expiration Of f. said Iat time
than par for the benefit Of the association.
ARTICLE VI
ASSOCIATION
the payment OF the second installrnent Of the capi.
tai stock hy the shareholders when hundred
thousand dollars ($lOO,O0OO) are paid ill.,
ARTICLE VII.
The device and seal of the association shall be an
Irish harp with Hibernia Bank OF New orleans en-
graved around 1t.
ARTICLE VIII.
All powers of the association shall be vested in a
board of directors, cOnsistieg OF twelve persons
each of whom shall at all times hold in his own
rio ar
this association. -..t
nually thereafter an election OF directors by the
Stockholders shall he held at the banking house OF
the association. . .
elect.
election shall be- given i'll at least two newspapers
published i'll New Orleans.
ARTICLE X.
The following named persons are hereby chosen
and shall compose the first Board of Directors, tt
| serve until superseded by the new board, to be
elected on the third Monday Of January, ia,n
| Hugh McClOskey, Adam Thompson,
Edward Conery, John Henderson,
| Thomas McKenna, Thomas Fitzwiam,
Edward Burke, William Hart.
Nicholas Burke, Thomas Gilmore.
ARTICLE xI.
The Board of Directors shall, at their first meet
ing elect of their members to De president ant
| Provided, said president and vce-president re
ceive not less than majority OF the votes OF th'
| whole board.
All citations or other legal process shall be servet
on the president or, i'll his absence, Oh the vice
president. .
all meetings of the board and in case OF absence Oh
inability to preside. the vice president shall pre-
| side and i'll ease of his absence inability to q
the directors may elect from their number pres
ident pro tempore who shall. for the time being
exercise the full powers OF the president OF vice
| president.
| ARTICLE XII.
| The number of directions necessary for discount
ing notes and drafts, and purchasing bills OF ex
| change, and for the transaction OF general bust
ness shall be determined by the general bylaws o
| the association.
ARTICLE KILL
The Board of Directors shall have full power II
make bylaws, appoint all officers of this associa
| ton, and fix their salaries.
| That said appointments be made annually an'
held subject to removal at the pleasure VI I'M
1 board.
| They shall fix the security to be given by thu
| They may also change the bylaws whenever thu
interest of the association demand it, and aPpoin
agents within and ont of the State, under rules t.
| be prescribed by the board
ARTICLE XIV.
The Board of Directors after paying all the ex
penses of the association. SHALL twice or oftener II
each year, if the ppois OF the business Justify IL
declare and pay such dividends out of said profits
Notice of the same shall be published in at ieas
! two newspapers published i'll the city OF New VI
| leans.
The Board of Directors shall have power to I'll
| any vacancy that may occur in the board
ARTICLE XVI.
Vacancies in the Board OF Directors may be de
clared in consequence of death resignation defalca
| ton insolvency absence without leave for ninet
| consecutive days.
Every transfer of any share shares of capita
stock shall be made the books OF the ASSOCIATION
and shall be signed by the shareholder or MS attoi
ney, but no stakeholder shall have the nsht
transfer his stock unless his matured obllgatlons
the bank paid or secured.
ARTICLE XVIII
The Board of Directors may close the transfe
book as often as convenience may require, Dut ~
no longer than ten consecutive days at any on
| time
No certificate of stock shall be issued unless a
the installments have been paid in full
| ARTICLE Xxx.
The failure from any cause, to elect directors o
| the day when such election should have been nett
| shall not dissolve the association
The directors then in Office shall hold over ont
shall be their duty to appoint another aay ,or ie
held.
ARTICLE XXI.
| Each shareholder shall be entitled directly or b
proxy, at all elections for directors or on any ma
ter at any meeting of the stockholders to one vot
upon each share provided no stakeholder shall vol
in his own name U00) hundred vOtes, an
provided also, that after the first election ne shi
have owned fhe stock at least three months pre-
vious to voting
| ARTICLE XXI.
Every election of directors of this assoclatlo
shall be by ballot and conducted by three lnspec
Ors to be appointed by the board, at least on
week prior to any election. No two partners sila
be eligible at the same time, as directors Oh IN
bank nor shall II director OF any other bank or III
partner be director of this bank.
| ARTICLE XXIII
A majority of all the directors elected may PR