New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-05-28

OUhfUkATlONS,
H6ks....... .........CHARTER
UNITED STATES OF AMERICA-srArr NJ
LoUIsIANA-oITY OF NEW ORLEANS.
re ne known that before me, Thomas Jefferson
40 city Of New Orleans, State Of Louisi
.o e came and appeared the persons hereinafter
tS.a e abs ana upaers gned who severaly declared
AND those whom they represent, into Corporst,on
Stste snttsS 81 an act Of me
lem OF tree banking in the state Of Louisiana,
pssoysd on the fifteenth day Of March thou
make and agree to the following
Articles Of Association:
ARTICLE
THE EASK OF L1FAYE III risos'a''0n shall ot
Article
The object of the association is to carry m Tho
business OF banking by discounting bills notes and
other Evidences Of debt receiving deposits buyns
change ana other personal property, oaning none,
on 5eai and personal security and to exercise al
AFTER authorized by law.
ARTICLE Ill.
The place of business and legal domicil of said
CGrporation shall be located in the Fourth District
VA e-S SAey "a NeW orleans.
ARTICLE ".
The capital stock of said Corporation to be Two
Hundred Thousand Dollars; divided into Four
Thousand Shares Of Fifty Dollars EACH payable ia
insts ments as follows, VIZ: twenty five per cent
on the hrst day of May 1870. Twenty five per cent
on the first day of August. 1870. Twenty five DER
cent on the first day of November 1870 And twenty.
I'VE per cent on the hrst Gay OF February, 1871.
ARTICLE v.
The bank shan be put in operation so soon as one
hau hna,
scrIbed and the acquisitions of law are complied
With and shall terminate in the year eighteen hun
ARTICLE vi.
The Board of Directors shall be empowered to re-
oelye further subscriptions, until the amount sub
scrioed shall have reached the aforesaid sum of
Two hundred thousand dollars upon the same terms
q payment prescribed in article fourth; provided,
In"t al 1urtner subscriptions of stock shall be paid
IN cash, at the time Of subscribing to the full
amount of the miscellaneous matured on the originai
ARTICLE VII
The capital stock of the Corporation may here
n,!st De 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
Orleans within tme IN a5s Sy Of New
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
Uoueut u the Oofporotlon
ARTICLE TX
On all installmepts in defaut interest at the rate
the Board of alter ten Dc potce ah ba
advertisement. shall have the right to forfeit and to
instaIment 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. .pr,c,rx,
This Corporation shall have q SEAL the device Of
which shall be the bust of the Marquis de Lafay ette
with the name OF the Corporation in the margin.
ARTICLE XII.
All powers of the Corporation shall be vested in a
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 member. at least
twenty snares 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 this
Seaman Hopkins. Jr. John A. Braseman.
William G. Coyle, Osto T. Thiesman.
John p Higgins, Gus A. Breaux.
John i7,,. G; Fleming ming, John A watkins n
"n'lam d. f0s'I Iioyd R. G EenasG D. 'enaoes
Who shall have power TO procure banking house.
they shall continue in office unit, the first day OF
May, eighteen hundred and seventyon
ARTICLE xiv.
Inc Board OF Directors shall At their ,s first meet
ofthe CORPORATION whose euty il shall be to side
Of the bonds Of the Cashier and Of ali I oeers Q;
the Corporation; also, of the bank notes intended
be issued and signed by HIM and the Cashier. In
case of absence or inability to act the Directors
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 as they may deem expedlent, and may
repeal the same at pleasure.
ARTICLE XVI
The number Of Directors for discounting notes
Be determined By the bylaws Of the corporation,
but for the Transaction OF any other KIND Ct bust
CURED to form quorum. and the decision of the
majority of said quorum shall be valid a corpo-
'"'' ARTICLE XVII.
The Board of Directors shall appoint cashier
clerks officers and agents and may remove the same 1
GERS of the corporation Said Board may also, from
mittees of their own body, or to their officers or
agents. as they may deem expedient
ARTICLE xvIIL'
The Bosrd of DIRECTED may purchase, out Of the |
may be held by law. and transfer; in pledge to the
Auditor of Public Accounts, or other proper officer
evidences of debt authorized 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, ignatlon, want OF requisite number OF
shares insolvency absence without leave for 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
came shall be published in two newspapers OF the |
city of New Orleans. |
ARTICLE XXI.
Minutes of all proceedings of the Board OF D |
sha be kept by the Cashier, and ceriheo py
the President
ARTICLE XXI.
The President and Cashier shall sign all contracts,
notes. certificates OF stock and evidences OF DEBT OF
the Corporation.
ARTICLE XIII.
stock shall be kept subject such restrictions as
the by laws nay direct.
ARTICLE XIV.
stock shall be made the books of the Corporation.
and be signed by the shareholder, or his attorney IN
TACT. ~
The Board of Directors may close the transfer
rocks as often convenience may require. but for
10 longer than ten days at any one tlme
ARTICLE XVI
No share or shares of the capital stock shall be
Transferable unless paid in full.
H. ARTICLE XVII.
On the third Wednesday of April, eighteen hun
red and seventy lone, and annually therea fter an
lection of Directors, by the stockholders shall be
4 cid at the banking house OF said corporation; q
iurality of votes then and there given, shall elect
revioue notice of the same to De given, az ieast
,rrv 0srs in pu blished in the city