New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-05-10
CORPORATIONS.
T. HAKrER........... ..CaAkTER.
UNITED STATES OF AMERICA-STATE OF
LOUISIANA-CITY OF NEW ORLEANS.

| ard city of New Orleans state Of Louisi
ana aforesaid. duly commissioned and sworn, per
| named and unGers gned, who severay declared
| that trey do, by these presents, form themseive:
unter authority OF an act of Legislature Of tai
| state. entitled An act TO erta bsh general sys
| approved On the fifteenth DAY Of March one thou
| sand eight humid ed aud fifty five. to which end they
make and agree t. tie following
Articles Of Articulation:
| ARTICLE
The corporate meme Of the association sha!! bs
| THE Bank OF LAFAYETTE"
| ARTICLE IL
| The object of the association is to carry on III
business Of bsnsing by discoun ting lis notes
other evidences OF debt, recsIViug 0spCst>, bEyIu
| and selling gold ard silver bullion, bis Of ex
change ana other personal property, ioanipg money
on real and personal security, and to exercise r.
| scch incifena al powers now, or may DO here
| after authorized by law.
ARTICLE LII.
The place Of bus ness and legal domici of said
Corporation shat be located in the fourth District
OF the city OF Aew Orleans.
ARTICLE ".
Tie capital stock OF said Corporation to be two
Hundred Thousand Dollars, diyiy ed INTO -Four
Thousand saarss OF Fifty Dollars each, pas al bic
m t., as f'nTs s w ~eatsnve pr eel;
on the first DAY OF August. 1870 Iweny i've Der
cent lbs tiEst day If hovember 1876. and twenty
ARTICLE v.
The bark shall be put in operation so soon as one
hundred thousand doilers shall have been sub
scrbed snd the rtQuisItions of Law complied
with. ana shall terminate in the year eighteen
dred ana ninety.
ARTICLE VI.
Tie Board OF Directors shall bs empower to re-
oejve further subscriptions, unui the amount sub
scrbed shall! have reached the afor- aid sum OF
two hundred thousand dollars, upon the same terms
Of n n Ihar fIr!. nod
that all further subscriptions Of s.ock shall be paid
in cash, at the time Of subscribing, to the full
stock.
ARTICLE VII.
The capital stock of the Corporation may here
after be Increased to any sum not exceeding one
million dollars. provided thsc majority IN amount
Of all the stockholders shall vote for such increase.
ARTICLE VIII.
After any increase of capital shall have been duly
in two newspapers published in the city OF New
Orleans will hin which tire stockholders shall have
ton Vie amount of their stock. Shares not AIKEN
at the expiration OF ss,d time may be sold by the
Board of Directors, at not less than par, for the
benefit OF the Corporation.
ARTICLE TX.
On all instalments in default interest at the rate
of eight per cent per snnum shsll be charged and
the Board of d r-ctors, after ten days notice. by
advertisement shall have the right TO forfeit aud to
cause to be sold any share snares, which any
ins tal!ment may be due and remain unpaid for the
benefi, of the Corporation.
ARTICLE Y.
No certificate of stock shall be issued unless paid
in full.
This CORPORATION shall have a seal, the device of
which shall be thebust of the Marquis de Laf.ye
with the name of the Corporation IN the mars in.
ARTICLE XII.
All powers OF the Cooperation shall be vested in
Board OF Directors, consisting OF thirteen persons,
each OF whom shalt hold IN his name and right,
OF the firm Of which hs is member aG least
twenty shares OF tie capital stock OF sad Company.
ARTICLE Kill
TIE first Poard of Dire tors shall be composed of
the following named pasons, all citizens OF this
sea,o an Hopkins. Jr.. John 4. Braseman,
Pm hpp DruInm, Theodore Der ksop,
John F. higgins, Gus A. Breaux.
John c. Fieming, JOHN A. Watkins,
William Ii. Roster. Richard ). Nenabes,
Lloyd r. Coleman,
" no shall have power to procure q banking house.
appoint officers and put the baa operations ard
they shall continue in office unlI TIE first day OF
May, g. gcteen hundred and seventy one.
ARTICLE XIV.
The Board of Directors shall. ct their first meet
ing, elect of their men bers to be the President
of CORPORATION whose IL shall be pr side
a al meeti IS of the bosrd He sha have 81 arge
Of the binds OF the Cashier, AMI ii al ctii eIs Of
lhe UOru0rac.or: also, of he b ank intended
for signature viii authorized by he Directors 10
ne Issued and signed by nm ana the Cashier Ia
OF absence or inahiltg to ac', the Directors
my elect from Their lumber President pro te,n
~5o shall for tie tiue being have ard exercise the
full powers OF the PRESIDENT.
ARTICLE XIV.
The Board Of Directors may at any time make
such by laws as they may deem exledieEt, and may
repeal the same at pleasure
ARTICLE XVI.
Ths number OF Directors for discounting notes
ana Drafts. a@d Purchasing bis of exchange, may
be dsterui ned by tie bylaws o, the corpora ION
IS by tho Board. five Of SAID u rectors shall be
quiren 10 form quorum. and the decision of the
malority OF said quorum SHAH De valid as corpo
ARTICLE XVII
The Board of Directors shall appoint cashier
clerks, officers 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 powBr, in tranSacting
the ordinary business of the cooperation, to com
mites OF their own 7dy, or to their officers or
agents, as they may deem expedlent
ARTICLE XVIII
The Board of Directors may purchase, out OF tho
funds of the poI evde OF Cebt that
may be held by law. ana transfer in pledge TO the
Auditor of Public Accounts or other proper officer
evidences of debt authorized to secure the payment
OF notes Of circulation, issued by this corporation
ARTICLE XIX.
The Board of Directors stall have power to sup
ply any vacancy that may in their board.
such vacancy nay be declared in consequence OF
death, Ignauon, want of requisite number of
shares insolvency or absence without ave cr three
successive months.
ARTICLE Xxx.
The Board of Directors, after paying all the ex-
penses # the Corporation, snail twice IN each year,
declare and pay such dividends cut 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 al proceedings OF the Board of Di
rect9rs snail OF kept BY the Cashier and certified by
the President
ARTICLE XXI.
The President and Cashier shall sign all cor tracts,
notes cert hcates OF stock and evidences OF dept OF
the Corporation.
ARTICLE XIII
Books for the registry snd transfer of the capital
stocB shall be kept. subject 10 such restrictions
tie py laws Nay erect.
ARTICLE XIV.
Every transfer Ct any share or shares of capital
stock shall be made The books OF tue Cor poratop,
and be signed by the Shareholder, Els attorney
fact.
ARTICLE XIV.
The Board of Directors may close the transfer
books often as convenience ma! require, but Tor
longer than ten DAYS at any one time.
ARTICLE XVI.
NO share or shares OF the capital stock shall be
tranSIers bic unless paid IN full.
ARTICLE XVII
On the third Wednesday of April, ei ghteen hun
ored and seventy-one, and annually thereafter.
election OF directors. Dy the stockholders, sbs be
bel at the banking house OF said COOPERATION;
plurality Of votes then and there given, shall elect,
thirty day. IN newspapers Published IN the CITY
OF rev Orleans. ell elections tor directors shall
ARTICLE xviii
Each sto kbolGer shall be entitled directly CT by
proxy vote each share OF stock o: the Cor
porxtion owned and held by him In lbs own name,
anpl 10 rrp1 rat nt hEr