New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-06-03

The Board of Directors shall be empowered to re-
oeive further subscriptions until the amount SUBJ
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 instalmeEts matured On the original
ARTICLE VII
The capital stock of the Corporation may here
million dollars provided that majority in amount
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 can within Which tine Stockholders shall have
the privilege of taking additional in proper
at the expiration of said time, may be sold BY the
Board Of Directors. at not less than par, for the
benefit OF the Corporation.
ARTICLE TX.
On all installments in default interest at the
Oh esns Of ser ten Dc ys a
advertisement shall have the rgut to forfeit and to
instalirnent be due and remain unpaid, Tor the
benefit OF the Corporation.
ARTICLE X:
No certificate of stock shall be issued unless paid
in full.
This CORPORATION shall have seal, the device of
which shall be the bust of the Marquis de Lafayette,
with the name of the Corporation IN the margin.
ARTICLE XII.
All powers of the Corporation shall be vested in
Board OF Directors, consisting OF thirteen persons.
each OF whom shall hold IN his own name and rlght,
or of the firm of which he is member. at least
twenty shares of the capital stock OF SAID Company
ARTICLE XIII.
The first Board of Diree tors shall be composed of
the following named persons, all citizens OF this
seaman Hopkins. Jr.. John A Braselman.
Philip Drumm, Theodore Berkson,
John ?. Higgins. Gus A. Breau1.
John q. Fleming, John A. watkins.
William II. Foster. Richard s. Verables,
Lloyd r. Coleman,
Who shall have Pow er to procure banking mouse.
appoint officers and put the bank in operation; and
they shall continue in office until the first day OF
May, eighteen hundred and seventy one.
ARTICLE XIV.
The Board of Directors shall. at their first meet
ing, elect of their members to be the President
of the Corporation. whose duy it shall be topreside
at all meeti, es of the Board He shall have charge
of the bonds of the Cashier, and Of all officers OF
the Corporation; also, of the bank notes intended
for signature, until authorized by the Directors to
be issued and signed by him and the Cashier. In
case OF absence or inability to act, the Directors
msy elect from their number President pro TEN.
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 expeaieHt, 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 BUSH
CURED to form a quorum. and the decision of the
majority of said quorum shall be valid as corpo-
ARTICLE XVII
The Board of Directors shall appoint cashier,
clerks officers and agents, and may remove the same
GERS OF the corporation Said Board may also, from
time to time, delegate ssch power, IN transactlng
mittees of their own body, or to their officers or
agents, as they may deem expedient
ARTICLE xXIII.'
The Board of Directors may purchase out of the
funds OF the eorporaton any evidences OF debt that
Auditor of Public Accounts, other proper officer
of the State of Louisiana all or 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.
| death. resignation, want of requisite number of
shares insolvency absence without leave Tor 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
same shall be published in two newspapers of the
| city of New Orleans.
ARTICLE XXI.
Minutes Of al proceedings Of the Bosrd Of Pr D.
rectors shall be kept by the Cashier, and Ger ed by
the President.
ARTICLE XXII
The President and Cashier shall sign all contracts.
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
| the bylaws IL az direct.
ARTICLE XIV.
Every transfer of any share or shares OF capital
stock shall be made the books of the Corporation.
and be signed by the shareholder. his attorney in
| fact
The Board of Directors may close the transfer
books as often convenience may require, bu. for
no longer than ten days at any one time.
ARTICLE XVI.
No share shares of the capital stock shall be
transferable unless paid in full
ARTICLE XVII.
| On the third Wednesday of April, eighteen hun
| dred and seyentyone and annually thereafter an
election of Directors by the stockholders, shall be
| held at the banking house of said corporation; a
plurality of votes then and there given, shall elect,
previous notice Of the same to be gwen at least
of New Orleans. All elections for Directors shall
~ ~ ARTICLE XVIII.
Each stakeholder shall be entitled directly or by
to vote each share OF stock OF the Cor
poration owned and held by him in his own name,
trustee or legal representative OF others for
at least three months prior to an election.
ARTICLE xxx.
Two partners shall not be eligible at the same
time as Directors of this Association. Nor shall
Director of any other bank be Director of this
Corporation. - 1850
ARTICLE xxx.
Every election of directors shall be superintended
by three commissioners, to be appointed from the
stockholders by the Board of Directors one week
previous to said election.
ARTICLE XXI.
The failure from any cause to elect directors, on
the day when sueh, election should have been held,
shall not disso the Corperation but the directors
then in Office shall hold until their successors
are elected and qualified: and, any time within
sixty days after the day appointed in article twenty
seven they shal cause, after thirty days notice.
such election to be held.
ARTICLE XXXII.
msjority of all the directors elected may provi.
sionaly accept any additional power or privilege,
that may hereafter be conferred upon the Corpora
tior either by amendment of the act under which 1t
is formed or by any other new act, enactments,
and may amend these articles of association; but
the final adoption and acceptance of such additional
power or privilege. or amendment of these arti-
Giles shall be by vote of stockholders, in the man
ner provided by law.
ARTICLE XXXIu.
The liquidation Of the affairs Of the Corporation
shall be made by the commissioners elected BY the
stockholders, At meeting convened for
that purpose. sfter three months previous