New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-07-14

diAoh VI OAASoAS, Wy VI AVG p" OAASoAS, -
Be it known that on this second day Of April, in
the year of Our Lord one thousand eight hundred
and seventy, and of the Independence Of the
fore me, william Joseph Castel, notary public,
in and for the parish of New Orleans State OF LOU
isiana, duly commissioned and qualified and in the
undersigned, personally came and appeared Pat
rick Irwin, Archibald Montgomery, Hugh McClos-
son Thomas McKenna, Thomas Fitzwilliam, Ed
ward Burke, William Hart, Nicholas Burke and
Thomas Gilmore, Ct this city, and the parties whose
Who declared that availing themselves ! Of the he
banks the Of d tb os
duties Of Auditor and Treasurer, in relation
thereto, approved on the fourteenth day of March,
agree and bind Themselves and those they repre-
sent, to form themselves into and constitute an as
ISOLATION or corporation for the objects and purp0
hereinafter specified, and under the stipulations
following, to-wit: f-
ARTICLE ].
The corporate name Of the association shall be
the HIBERNAN BANK OF NEW ORLEANS.
ARTICLE II.
This association is formed for period of twenty
years.
The object of this association is to carry on the
business of banking by discOunting bills, notes and
other evidences of debt receiving deposits, buying
and selling gold and silver coin, bullion, bills OF ex-
change real estate; lOanng money Oh real and per.
sOnal security, and to exercise all such incidental
powers as now are 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 he five
hundred Thousand dollars ($5O0,0O0), divided into
five thousand shares OF one hundred dollars (Sl00
EACH ten per cent Of which shall be payable az the
signing thereof, ten per cent every thirty days
thereafter until the whole is paid up.
Should any subscriber neglect to pay punctuaily
his her share, instalment OF his or her snare
shares, as they fall DUE the subscriber sinai oe
charged interest at the rate Of eight per cent pei
annum therefrOm till paid. ,
ANY subscriber neglecting or refusing to pay the
nstalment Oh 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 ~
rectors after thirty days notice shall declare dne
| payments that may have been made thereon.
The capital stock Of this Association may here
million dollars Is 600 OO0 divided into shares o.
one hundred dollars 5 1907 each whenever such in
crease shall be authorized by two-thrts OF me
| same shall have been given in two newspapers pup
lshed in the city of New Orleans, within which tim,
stockholders shall have the privilege OF taking al
| ditiOnal shares in proportion to the number o
| shares held by them respectively.
shares not taken At sns e. 81 at sao
| than par for the benefit Of the association.
| ARTICLE VI
| This association shall commence operation afte
the payuent of the second installment OF the cap
tai stock by the shareholders, when one hundred
| Thousand dollars Is lOOO O00) are paid ID.
ARTICLE VII.
The device and seal Of the association shall be al
| Irish harp with "Hibernia Bank OF New Orleans en-
| graved around It,
ARTICLE VIII.
All powers of the association shall be vested in
| hoard of directors, consistieg OF twelve persons
| nF sla at all times hold his owl
right at least twenty-five 25) shares OF the STOCK
| this association.
On the third Monday of January, 1871, and an
| nually thereafter an election of directors by tn
stockholders shall he held at the banking house
| the association. =,
| elect.
Previous notice of at least thirty (3o) days of sal
election shall be given in at least two newspaper
| published in New Orleans.
| ARTICLEX.
Tie following named persons are hereby chose1
| and shall compose the Trst Board OF Directors
serve until superseded by the new board, to b
elected on the third Monday OF January, 1871:
| Hugh McCloskey Adam Thompson,
| Edward COnerv, John Henderson,
Thomas McKenna, Thomas Fltzwlllam,
| Edward Burke, William Hart
| Nicholas Burke, Thomas Gilmore.
ARTICLE ".
The Board of Directors shall, at their first NEE
ing elect one OF their members TO lie president, an
| one to be vice-presdent of the association
| Provided said president and vice-presldent 7
| ceve not less than majority OF the votes of IL
whole board.
| ON the president or, i'll his absence, on the VIC
| president
all meetings of the board and i'll case of absence
! inability to preside, the vice president shall pr
| side and i'll case of his absence or lna6hty TO az
the directors may elect. from thelr number, pre-
exercise the full powers OF the president OF VIC
president.
ARTICLE XII.
The number of directions necessary for discoun
| ing notes and drafts and purchasing bills OF e.
| change and for the transaction of general bus
ness shall be determined by the general bylaws
the association.
ARTICLE XIII.
The Board of Directors shall have full power
! make by laws, appoint all officers OF this associ
! tion and fix their salaries
| That said appointments be made annually, an
held subject to removal at the pleasure oi u
They shall fix the security to be given by Il
They NAV also change the bylaws whenever IL
interest of the association demand it, and aPpoil
agents within and out Of the State, under rules
| be prescribed by the board.
ARTICLE XIV.
The Board of Directors after paying all the e
penses of the association, SHALL twice or oftener
each wear if the ppofits of the business justify
| declare and 01VlOenQS OUT u pIOutb
| they NAV deem expedient
Notice of the same shall be published in at lea
two newspapers published in the city Of New
| leans.
The Board of Directors shall have power to f
| any vacancy that may occur i'll the board.
ARTICLE XVI.
| Vacancies in the Board Of Directors may be 4
clared in consequence of death resignation defac
ton insolvency or absence without leave for nine
AR7s LIE XVII.
Every transfer of any share or shares of capt.
stock shall be made on the books of the associatlO
| and shall be signed by the shareholder or his ATTIC
ney, but no stakeholder shall have the right
transfer his stock unless his matured obligations
the bank are paid or secured.
ARTICLE XVIII.
The BOARD of Directors may close the transit
| book as often as convenience may require, but I
J no longer than ten consecutive days at any o.
time.
No certificate of stock shall be issued unless
the installnents have been paid in full.
ARTICLE Xxx.
The failure, from any cause, to elect directors
the day when such election should have been he
shall not dissolve the association.
The directors then in office shall hold over. but
shall be their duty to appoint another day ior So
election, notice of which shall be given as provid
| in article nine, until the election shall haveabe
held
Each shareholder shall be entitled directly or
proxy, at all elections for directors, Or On any hi
ter, at any meeting of the stockholders, to one vC
upon each share, provided no stakeholder shall We
| in his own name over one (lO0) hundred votes, "a
| provided also that after the first election he Sin
have owned the stock at least three months y
| vious to voting.
ARTICLE XXI.
Every election of directors of this ASSOCIATE
shall be by ballot and conducted by three iI.spe
| Ors to be appointed by the board az least 0
week prior to any election. No two partners sll
. | be eligible at the same time, as directors of Il
, | bank, shall a director OF any other bank or
partner, be director OF this bank.
ARTICLE XIII.