New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-06-08
ORLEANS REPUBLICAN, WEDNESDAY,

CORPORATIONS.
CHAKTEK..... ..CHAKTER.
UNITED STATES OF AMERICA-STATE OF
LoU1s1ANA-CITY OF NEW ORLEANS.
Beck a notary public IN and for the parish
and city Of New Orleans state Of Louisi.
sonally came and appeared the persons hereinafter
named and Undersigned, who sevelaiiy declared
and ,hoss s Whom f they y oorpoT.t,o
under authority Of act of the legislature OF this
tenn Of free banking in the state Of Eousians."
approved on the fifteenth day of March, one thou
sand eight hundred and fifty five. to winch end they
make and agree to tie following
Articles OF Association:
ARTICLE
The corporate name Of the association shall be
THE BANK OF LAFAYETTE"
ARTICLE II.
The OBJECT of the association is to carry on the
other evidences of debt receiving deposits buying
and selling gold and silver bullion, bills OF ex-
on real and personal security, and to exercise al
such incidental powers as are now or msy Dc mere
after authorized by law.
ARTICLE III.
The place of business and legal domicil Of said
Corporation shall be located IN the tourtn District
OF the city of New Orleans.
ARTICLE ".
The capital stock of said Corpdration to be Two
Hundred Thousand Dollars, divided, into Four
Thousand Shares of Fifty Dollars each. payable in
s s as Of Msy @
on the first day, of August. ls7o o- twenty five per
cent the first day of November lelO. And twenty
five per cent on the first day of February, ISL.
ARTICLE V.
The bank shall be put in operation SO soon as one
hundred thousand dollars shall have been sub
scrlbed and the acquisitions of law are complied
with. and shall terminate in the year eighteen hun
dred and ninety.
The Board of Directors shall be empowered to re-
oeiye further subscriptions until the amount sup.
two hundred thousand dollars upon the same terms
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 instalments matured on the original
stock.
The capital stock of the Corporation may here
sitter 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 VIII.
After any increase of capital shall have been duly
authorized, sixty days notice thereof shall be given
in two newspapers published in the city OF New
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, for the
benefit of the Corporation.
ARTICLE TX.
On all nstallments in default nterest at the rate
of eight per cent per snnum shall be charged. and
the Board OF Directors, after days notice. by
advertisement shall have the right to forfeit ana TO
instrument IT. may be due and remain unpaid. for the
benefit OF the Corloratlon
ARTICLE X
No certificate of stock shall be issued unless paid
in full!
ARTICLE XII
This CORPORATION shall have seal. the device OF
which sbs Il be the bust of the Marquis de Lafayette,
with the name of the Corporation IN the margin.
ARTICLE Kill
All powers of the Corporation shall be vested in a
Board of Directors consisting of thirteen persons
each of whom shall hoc IN his own name ana rignt
or of the firm or which be is q member. at least
twenty shares of the capital stock OF said Company.
ARTICLE XIII.
The first Board of Directors shall be composed of
the following named persons, all citizens OF this
seaman Hopkins. Jr. John 4. Braselman.
William q. Uoyle, OTTO Z. Thiesman.
Philip Drumm, Theodore Berkson,
John Z. Higgins. Gus. A. Brea1x.
John q. Fleming, John A. Watkins.
William Il. foster. Richard s. Venabies,
Who shall have power TO procure a banking house:
appoint officers and put the bank in operation; and
they shall continue in Office until the first day OF
May, eighteen hundred and seventy one.
ARTICLE XIV.
The Board of Directors shall at their first meet
ing elect of their bers to be the President
of the Corporation. whose duty it shall be to preside
Of the bonds of the Cashier and Of ali officers Of
The Corporation; Also of the blank notes intended
for signature until authorized oy the directors TO
be issued and signed by him and the Cashier. In
of absence or inability to act, the Directors
may elect from their number President pro tenn.
l hall Srrt hot ha1r
full powers of the President.
ARTICLE XIV.
The Board of Directors may st any time make
such bylaws as they may deem exDedieEt, and may
repeal the same at pleasure.
ARTICLE XVI
The number of Directors for discounting notes
and drafts. and purchasing bills of exchange, may
pc determined by the bylaws OF the Corporation Inc
by the Board, i've of said Directors shall be re-
CURED to form quorum. and me DECISION OF Ine
majority OF said quorum snail be yand as corpo
ARTICLE XVII.
The Board of Directors shall appoint cashier
clerks. officers and agents. and may remove the same
at pleasure, and shall the salaries OF all the OH
GERS of the corporation. Said Board may Also from
time to time delegate such power, in transactlne
the ordinary business of the corporation. to com
mittees OF their own body, or to their officers OF
agents. as they may deem expedient
ARTICLE XVIII;
The Board of Directors may purchase, out of the
funds of the corporation any evidences of debt that
may be held BY law ana transfer in pledge to tnt
OF the State of Louisiana all or portion Of sale
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 Doard
Such vacancy may be declared in consequence sr o
shares insolvency or absence without leave for three
successive months
ARTICLE Xxx.
NJ Ill &boo
pepses of the Corporation Shall twice in each year
| declare and pay such dividends out Of the surplus
same p shall BE- published in two newspapers Of tn
city of New Orleans.
ARTICLE XXI.
| Minutes of all proceedings of the Board Of Di
rectors shall be kept by the Cashier, and cer.heo D.
! ARTICLE XXI.
The President and Cashier shall sign all contracts
notes. certificates OF stock and evidences OF debt
the Corporation.
! ARTICLE XIII
Books for the registry and transfer of the capita
stock shall be kept. subject to such restrictions q
| the bylaws may direct
| ARTICLE XIV.
Every transfer Of any share or shares of capita
and be signed by the shareholder, or his attorney II
| fact.
The Board of Directors may close the transfe
| books as often convenience may require, but TO
| no longer than ten days at any one time.
| ARTICLE XVI.
| No share shares of the capital stock shall b.
| transferable unless paid in full.
| ARTICLE XVII
| On the third Wednesday of April, eighteen hun
| dred and eeventy-one, and annually thereafter; al
election of Directors, by the stockholders, shall
| held at the banking house OF said corporation;
plurality of votes then and there given, shall elect
previous notice of the same to be given, at leas
thirty Gays, in two newspapers published in the CIT
| of New Orleans. All elections for Directors sha
| he by ballot.