New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-07-17
CORPORATIONS.
STATE OF LOUISIANA,
Parish Of Orleans. City of New Orleans.

STATE OF LOUISIANA,
Parish of Orleans, City of New Orleans, )
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 tho
fore me, William Joseph Castell, notary public
in and for the parish Of New Orleans, State OF Lou
siana duly commissioned and qualified, and in tbs
presence of the witnesses hereinafter named, and
undersigned, personally came and appeared, Pat
rick Irwin, Archibald Montgomery, Hugh McCl0s
key, Adam Thomson, Edward Conery, John Hender
son, Thomas McKenna, Thomas Ftzwilliam, Ed
ward Burke William Hart, Nicholas Burke and
Thomas Gilmore, Of this city, and the parties whose
names are hereunto subscribed:
Who declared that availing themselves of the
provisions Of the act entitled can Act relative to
banks, the establishments of general system Of
duties of Auditor and Treasurer in relation
thereto, approved on the fourteenth day of March,
1870, they have agreed, and do by these presents
sent to form themselves into and constitute an as
ISOLATION or corporation for the objects and purpO
ses hereinafter specified and under the stpulations
following, to-wit:
ARTICLE l.
The corporate name of the association shall be
the ALDERMAN BANK OF NEW ORLEANS.
This association is formed for period of twenty
years.
ARTICLE III.
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; lOaning money real and per-
sonal security and to exercise all such incidental
powers as now are or 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 be five
hundred thousand dollars $780, 00), divided into
five thousand shares of hundred dollars Is 1907,
xyp1, Ion hlv
signing thereof ten per cent every thirty days
thereafter until the whole is paid up.
:. Should any subscriber neglect to pay pqnct%ally
shares, they fall due the subscriber shall be
charged interest at the rate of eight per cent per
annum therefrom till paid.
Any subscriber neglecting or refusing to pay the
nstallment or nstallments within the delay of nine
ty days after the time fixed for the payment of the
rectors, after thirty days notice shall declare the
same forfeited to the Bank, including all previous
payments that may have been made thereon.
The capital stock of this Association may here
after be increased to any sum not exceeding one
million dollars u 600 0oo), divided into shares Of
one hundred dollars l$lOO) each, whenever such in
crease shall be authorized by two-thirds Of the
stockholders and provided thirty days notice of the
same shall have been given in two newspapers pub
hshed in the city of New Orleans within which time
stockholders shall have the privilege Of taking adj
ditional shares in proportion to the number Of
shares held by them respectively.
may be sold by the Board Of Directors at not less
than par for the beueft Of the association.
ARTICLE VI
This association shall commence operation after
the payment Of TIE second installment of the capt.
tai stock by the Shareholders or when one hundred
thousand dollars Is 100 IOoOO) are paid in.
ARTICLE VII.
The device and seal of the association shall be an
Irish harp with ''Hibernia Bank Of New Orleans" en-
graved around it.
ARTICLE VIII.
board of directors, consistieg Of twelve persons
each of whom shall at all times hold in his own
right at least twenty-five (25 shares of the stock of
this association.
On the third Monday of January 1871, and an
nually thereafter, election of directors by the
stockholders shall be held at the banking house of
the association
majority of votes then and there given shall
elect.
Previous notice of at least thirty (3C days of said
election shall be given in at least two newspapers
published in New Orleans.
ARTICLEX
The following named persons are hereby chosen,
and shall compose the first Board of Directors, TO
serve until superseded by the new board to be
elected on the third Monday OF January ls,l:
Hugh McCloskey, Adam Thompson,
Edward Conery, John Henderson,
Thomas Nckenna, Thomas Fitzwilliam,
Edward Burke, William Hart
Nicholas Burke, Thomas Gilmore.
ARTICLE II.
The Board of Directors shall, at their first meet
ing elect OF their members to be president, aud
one to be vice resident Of the association.
Provided, said president and vce-president
ceive not less than majority OF the votes OF the
whole board.
ALI citations other legal process shall be served
on the president or, in his absence, on the vice
president.
The duty of the president shall be to preside at
all meetings of the board, and in case of absence
inability TO preside the vice president shall pre-
side and in case of his absence inability to
the directors may elect, from their number pres
ident pro tempore, who shall. for the time being,
exercise the full powers OF the president or vice
president.
ARTICLE XII.
The number of directions necessary for discount
ing notes and drafts, and purchasing bills of ex-
change and for the transaction of general bust
ness, shall be determined by the general bylaws of
the association.
ARTICLE XIII.
The Board of Directors shall have full pOwer to
make bylaws appoint all officers of this associa-
tion and fix their salaries.
That said appointments be made annually, and
held subject to removal at the pleasure OF the
board.
They shall fix the security to be given by the
officers respectively.
They may also change the bylaws whenever the
interest OF the association demand it, and appoint
agents within and out of the State under rules to
be prescribed by the board.
ARTICLE XIV.
The Board of Directors after paying all the ex-
penses OF the association, SHALL twice oftener in
each year, if the ppoits of the business justify it,
declare and pay such dividends out of said profits
they may deem extedient '
Notice of the same shall be published in at least
two newspapers published in the city of New Or
leans.
The Board of Directors shall have power to fill
any vacancy that may occur in the board.
ARTICLE XVI.
Vacancies in the Board OF Directors may be de-
clared in consequence of death resignation, defalca
tOn insolvency absence without leave for ninety
ARTICLE XVII
Every transfer of any share or shares of capital
stock shall be made the books of the association,
and shall be signed by the shareholder his attOr-
ney but no stakeholder shall have the right to
transfer his stock unless his matured Obligations to
the bank are paid or secured.
ARTICLE XVIII.
The Board of Directors may close the transfer
book as often convenience may require, but for
no longer than ten consecutive days at any one
time.
No certificate of stock shall be issued unless all
the installments have been paid in full
ARTICLE Xxx.
The failure from any cause, to elect directors on
the day when such election should have been held,
shall not dissolve the association.
The directors then in Office shall hold over but it
shall be their duty to appoint another day for such
election notice of which shall be given as provided
in article nine until the election shall have been
held
Each shareholder shall be entitled directly or by
proxy, at all elections for directors or on any mat
ter at any meeting of the stockholders, to vote
in his own name over one (l00) hundred votes, and
provided also that after the first election he shall
have owned the stock at least three months pre-
vlous to voting.