New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-07-05

The capital stock Of this association shall be five
hundred thousand dollars $500 OO0). divided into
ass thousand to shares Of one hundred dollars
thereafter until the whole is paid up - =
Should any subscriber neglect to pay punctually
his or her share or instaliment Of fs or her share
or shares, they fall DUE the subscriber shall BIZ
charged interest at the rate Of eight Per cent pei
Any subscriber neglecting or refusing to pay the
instament or installments within the delay Of nine
same and in the manner Aforesaid, the Board Of N
rectors, after thirty days notice. shall declare the
same forfeited to the Bank, including all previous
The capital stock Of this ASSOCIATION may here
after be increased to any sum not exceeding one
one hundred dollars Is 1907 each, whenever such in
crease shall be authorized by two-thiris Of the
Stockholders and provided thirty days notice Of the
lished in the city of New Orleans within which time
stockholders shall have the privilege Of taking ad
ditional shares in proportion to the number Of
shares held by them respectively. -.f
Shares not taken at the expiration Of said time
may be sold by the Board Of Directors at not less
than par for the benefit Of the association.
q 4t z-7 ARTICLE VI. g sA
This association shall commence operation after
tai stock by the shareholders, or when one hundred
thousand dollars $le0,p0OO) are paid in. - q
e ARTICLE VII u -a-i
The devices and seal of the association shall be an
Irish harp with Hiberna Bank OF New Orleans en-.
All powers Of the association shall be vested in
hoard Of directors, cOnsistieg of twelve persons
each Of whom shall at all times hold in Ills own
right at least 2S) shares Of the stock of
SD s1ar ARTICLE TX 7 ae.
On the third Monday of January, 1871, and an
nually thereafter, an election of directors by the
stockholders shall be held at the banking house of
the association. yt.a---f .%s ~ -e--
A majority Of votes then and there given shall
elect. ,i ~ 80
Previous notice Of at least thirty (0 DAVIS of said
election shall be given in at least two newspapers
published in New Orleans.
ARTICLEX
The following named persons are hereby chosen,
serve until superseded by the board, to be
elected on the third Monday Of January, ls.1 .s-
h Patrick irwin A Arch, "a, Montgomery
Edward Conery, John Henderson, 80,
Thomas McKenna, Thomas Ftzwilliam, -
Edward Burke, William Hart, -eNs
Nicholas Burke Thomas Gilmore Esd
- 80 ARTICLE XI. 81 4 II
The Board of Directors SHALL at their first meet.
ing. elect of their members to be president and
one to be yice-president of the association. " $
Provided said president and vice-president re-
ceive not less than majority Of the votes OF the
All citations other legal process shall be served
on the president or in his absence, on the vice.
The duty of the president shall be to preside at
all meetings of the board, and in Of absence
inability to preside, the vice president shall pre-
side and in case of his absence or inability to ct
the directors may elect, from their number, pres
ident pro temp0re, who shall; for the time being,
exercise the full powers Of the president or vice
president. eS'l f- -t-i
ARTICLE XII. t Ell
The number of directions necessary for discount.
ing notes aud drafts, and purchasing bills of ex-
change and for the transaction OF general bust
shall determined nv the by-lawS
the association. az y, -~-..
...-.. Isle. q, ARTICLE Kill a,e- 500
The Board of Directors shall have full power to
make bylaws, appoint all officers OF this assOcia-
That said appointments be made annually, and
held subject to removal at the pleasure of the
lOard. ~ ''i@ .'ss-i
They shall fix the security to be given by the
officers respectively. ..r.' 60.
They may also change the by laws whenever the
interest of the association demand it, and appoint
agents within and ont Of the State, under rules to
Ike prescribed by the board
- 1890 ARTICLE XIV
The Board of Directors after paying all the ex
penses Of the association shall twice or oftener in
each year, if the ppOfts of the business justify It,
declare and pay such dividends out Of said profits as
they may deem expedient.
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.
cared in consequence Of DEATH resignation defalca
tiOn insolvency absence without leave for ninety
ARTICLE XVII.
Every transfer of any share shares Of capital
stock shall be made on the books of the association,
and shall be signed by the shareholder or 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. 80 1a
ARTICLE XVIII --,-
The Board of Directors may close the transfer
book as often as convenience may require, but for
no longer than ten consecutive days at any one
time. a n rs
No certificate of stock shall be issued unless all
The ipstallments have been paid in full
ARTICLE Xxx.
The failure, from any cause to elect directors on
he day when such election should have been held
shall not dissolve the association.
The directors then in office shall hold over, but it
hal be their duty to appoint another day for such
election, notice of which shall be given provided
n article nine, until the election shah have been
leld s q, e. ~
ARTICLE XXI.
Each shareholder shall be entitled directly or by
Proxy at all elections for directors on any mat
er, at any meeting of the stockholders to vote
lpOn each share, provided stakeholder shall vote
II his own name over one (1OO) hundred votes, and |
provided ALSO that after the first election he shall
ave owned the stock at least three months pre- |
iOus to voting.
ARTICLE XXII 3us-
Every election of directors of this association |
hall be by ballot and conducted by three inspect
rs to be appointed by the board, at least one
reek prior to any election. No two partners shall
e eligible at the same time, directors of this |
ank, nor shall director of any other bank or his
artner, be a director of this bank.
ARTICLE XIII.
A majority of all the directors. elected NAV pro.
isonally accept any additional power or privilege
hat may hereafter be conferred on this association
ither by amendment under the act by which it was
)rmed, or by any new act or enactment, and may
mend these articles Of association; but the final |
dOption and acceptance of such additional power
privileges shall be by vote of the stockholders
the manner provided by law. ~
ARTICLE XIV
The president and cashier shall sign all contracts
otes certificates of stock and evidences Of debt of
his association. r.15 Il
'ftr~ t,l ARTICLE XIV.
Minutes Of all proceedings by the board of direc-
)rs shall be kept by the cashier and certified to by
he president OF vice-president.
ARTICLE XVI.
hall be made by three commissioners, elected by
he stockholders at meeting convened for thnt
urpOse, after thirty days previous notice in, at
'ast, two newspapers published in the city of New
rleans, each commissioner to be q resident of the
tate, and not indebted to the association
At such meeting stockholders may cede to such
all power necessary to the hquida- |
on of the affairs Of the association may fix their
erm Of Office, limit the period for liquidation, fix
heir compensation, define their duties and the
tanner in which said commissioners may be re-
loved and their term of office renewed.