New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-05-25


scribed shall! have reached the aforesaid sum of
two hundred thousand dollars, upon the same terms
that all further subscriptions of stock shall be paid
in cash, at the time of subscribing, TO the full
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
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
the privilege of taking additional shares. in proper
ton to The amount of their stock Shares not AIKEN
at the expiration of said time may be sold by the
Board of Directors, at not less than par, for the
bene6t OF the Corporation.
ARTICLE TX.
On all ailments in default interest at the rate
Of eight per cent per annum shall be charged. and
the Board OF Directors after ten days notice. by
shall have the right to forfeit and to
cause to be sold any share or shares, on which any
installmept may be due and remain unpaid, for the
benefit of the Corporation.
ARTICLE X.
No certificate of stock shall be issued unless paid
in full.
ARTICLE XII
which sha be the bust of the Marquis de Laay ette
with the name of the Corporation in the margin.
ARTICLE XII.
All powers of the Corporation shall be vested in q
Board OF Directors, consisting of thirteen persons,
each OF whom shall hold in his own name and right,
or OF the hrm OF which ne is a member; .at least
twePty shares OF the capital stock OF said Company
ARTICLE KILL
The first Board of Direo tors shall be composed of
the follow ing named persons, all citizens of this
William g. Coye, Otto +. Thiesman,
Philip Drumn, Theodore Berkson,
John p. Higgins, Gus. A. Breaux.
John G. Fleming, John A. Watkins
William Il. FOSTER, Richard S. Venables,
Lloyd r. Coleman,
Who shall have power TO procure banking house;
appoint officers and put the bank in operation; and
May, eighteen hundred and seventy one.
ARTICLE XIV.
The Board of Directors shall. at their first meet
ing elect of their mem bers to be the President
at all meeti IS of the Board He shall have charge
of the bonds OF the Cashier and Of all officers OF
for signature, until authorized by he Directors
be issued and signed by MN aud the Cashier. In
may elect from their number 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 bylaws they may deem e1peoient, and may
repeal the same at pleasure.
ARTICLE XVI
The number of Directors for discounting notes
be determined BY the by laws Of the corporation.
but for the transaction of any other kind Of bust
ness by ths Board ve OF said rectors shall be re-
majority of said quorum shall be valid as corpo-
rate act.
The Board Of Directors shall appoint a cashier,
clerks, officers and agents. and may remove the
at pleasure and shall ii the salaries of all the OH
time to time, delegate such power, in transacting
the ordinary business of the corporation, to csp.
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. and transfer in pledge to the
of the State of Louisiana all any portion of said
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 or absence without leave for three
months.
ARTICLE Xxx.
The Board Of Directors, after paying all the ex-
penses If the Corporation, shall, twice in ach 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.
ARTICLE XXI.
Minutes of all proceedings of the Board OF Di-
rectors shall be kept by the Cashier, and certified BY
the President.
ARTICLE XXI.
The President and Cashier shall sign all attracts
notes. certificates OF stock and evidences OF debt OF
The Corporation
ARTICLE XIII.
Books for the registry and transfer of the capital
stock shall be kept subject to such restrictions as
,he by laws NAY direct.
ARTICLE XIV.
Everv transfer Of any share or shares of capital
stock shall be made the books of the Corporation
md be signed by the Shareholder or his attorney in
ARTICLE XIV.
The Board of Directors may close the transfer
BOOKS as often as convenience may require but for
10 longer than ten DAYS at any one time.
ARTICLE XVI. /
No share or shares Of the capital stock shall be
unless paid in full
ARTICLE XVII. |
On the third Wednesday of April, eighteen hun
election of Directors by the stockholders. shall be
held at the banking house Of said corporation; a
previous notice of the same to be gwen at least
thirty osye, in newspapers published in the city
IF New Orleans. All elections for Directors shall
W " D' ARTICLE xviii
Each stockholder shall be entitled. directly or by
proxy to vote each share of stock OF the Cor
,r as trustee legal representative of others for
It least three months prior to an election. |
ARTICLE xxx.
Two partners shall not be ELIGIBLE, at the same |
ime as Directors of this Association. Nor shall |
Director of any other bank be Q Director of this
ARTICLE xxx.
Every election of directors shall be superintended
" three comm issioners, to be appointed from the
tockholders by the Board of Directors one week /
revious to said election.
ARTICLE XXI.
The failure from any cause to elect directors. on
he day when such election should have been held,
all not dissolve the Cooperation; but the directors
hen in Office shall hold over until their successors
re elected and qualified; and, any time within |
xy days after the day appointed in article twenty
even, they shall cause, after thirty days notice,
UGH election to be held.
ARTICLE XXXII
A msjority of all the directors elected may provi
onaliy accept any additional power, or privilege |
nat may hereafter be conferred upon the Corpora
on, either by amendment of the act under which 1t
formed, or by any other new act, or enactments, |
nd may amend these articles of association but |
he final adoption and acceptance of such additional
over or privilege, amendment of these arti- |
es shall be By vote of stockholders, in the man
or provided by law.
ARTICLE XXXIII.
The liquidation of the affairs of the Corporation
,all be made by the commissioners elected by the
at meeting convened for |
rat purpose. after three months previous |
otice. in two newspapers published in the |
aS be citizen of this state and not indebted to
le corporation, and. at such meeting the stock |
Dlders may cede to such Commissioners al powers
eceesafy to the liquidation of the affairs Of the