New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-06-02

ARTICLE vi.
The Board of Directors shall be empowered to re
| oeivs further subscriptions, until the amount sub
| two hundred thousand dollars, upon the same term!
| of payment prescribed in article fourth; provided
that all further subscriptions of stock shall be paic
| in cash, at the time Of subscribing, to the full
amount OF the instailments matured on the origina
| stock.
| The capital stock of the Corporation may here
| after be increased to any sum not exceeding one
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
| in two newspapers published in the city of New
| Orleans within which time stockholders shall have
ton to The amounS of their stock Shares not AIKEN
at the expiration OF said time may be sold by the
benefit OF the Corporation.
ARTICLE TX
On all instaments in default interest at the rate
| of eight per cent per annum shall be charged. and
| the Board of Directors after days notice, by
advertisement shall have the right to forfeit and to
cause to be sold any share or SHARES, which any
nstai!ment may be due and remain unpaid, for the
benefit Of the Corporation.
ARTICLE X
No certificate of stock shall be issued unless paid
ARTICLE XII
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
each of whom shall hold in his own name and right
or OF the firm of which he is a member. at least
twenty snares OF the capital stock OF sad Company.
ARTICLE XIII.
The first Board of Directors shall be composed of
the following named persons, all citizens OF this
State, to wit;
Niam 0 eoys Sto f T B[sssnan'
Philip Drumm, Theodore Berkson,
John T. Higgins, Gus. a. Breaux,
John &. Fleming, John A. Watkins.
William H. Foster Richard S. Venables,
Lloyd P. Coleman,
Who shall have power to procure a banking house.
appoint officers and put the ban in operation and
they shall continue in Office until the first day OF
May eighteen hundred and seventyone.
ARTICLE XIV.
The Board Of Directors shall. at their first meet
ing, esct one CT their mem bars be the President
at all meeti Is Of the Board He shall have Charge
of the bonds of the Cashier, and OF all off ers of
or s OF me oank n notes Intended
be issued and signed by him and the Cashier. In
esss Of ss, ta Or nans to a the Directors
VINO shall, for the time being have and exercise the
full powers of the President
ARTICLE XIV.
The Board of Directors may ct any time mako
such bylaws as they may deem excellent and may
repeal the same at pleasure.
ARTICLE XVI.
The number of Directors for discounting notes
and crafts. ard purchasing bills of exchange may
be determined by tie bylaws Of the corporation
but for the transaction of any other kind Of bust.
quireu to form a quorum. and the decision of the
majority OF said quorum shall be valid as a corpo-
rate act.
ARTICLE XVII.
The Board of Directors shall appoint cashier,
clerks officers and agents, and may remove the
at pleasure and shall the salaries OF ali the otf
GERS Of TIE corporation said Board may also from rom
time to time, delegate such power, in transacting
rne "a s 9ssinsss OF the to com
agents, as they may deem expediert
ARTICLE XvIIIi
Ire Board of Directors may purchase, out of ths
funds OF the corporation any evidences of debt that
Auditor of Public Accounts or 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 snail have power to SUD-
ply any vacancy that may occur in their board.
death. resignation, want of requisite number of
shares insolvency or absence without leave three
successive months.
ARTICLE XX.
The Board OF Directors after paving all the ex.
penses Of the Cooperation all 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 Board Of Di.
the President.
ARTICLE XXu
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 tire capital
stock snail be kept subject to such restrictions
ARTICLE XIV.
Every transfer Of any share or shares of capital |
stock shall be made on the books of the Corporation
and be signed by the shareholder, his attorney
act.
The Board of Directors may close the transfer
books as often as convenience require, but for
40 longer than ten days at any one time.
ARTICLE XVI
No share or shares Of the capital stock shall bs
Transferable unless PAID in full.
ARTICLE XVII.
VI the third Wednesday of April eighteen hun
'red and seventy-one, and annually thereafter. an
election of Directors, by the stockholders shall be
,eld at the banking house of said Corporation: a |
plurality of votes then and there given shall elect
previous notlce OF the same to be gwen, at least |
hirty Gays, 10 two newspapers published in the city
u new orleans. All elections Tor Directors shall |
ARTICLE XVIII
Each stockholder shall be entitled. directly Or by
oration owned and held by him in lis OWE name |
r trustee or legal representative OF others Tor
Z least three months prior to an election.
ARTICLE xxx
Two partners shall not be eligible at the same
inc, as Directors of this Association. Nor shall a
director OF any Gher bank be Director Of this
corporation
ARTICLE XXX
Every election of directors shall be superintended
y fhree conn issloDers, to be appointed from the
ockholders by the Board OF Directors one week
-evlous to said election.
ARTICLE XXI
The failure from any cause to elect directors on |
le day wren such election should have been held |
-al not dissolve the Corporation; but the directors
len IN ONCE shall hold until their successors
re elected and qualified and, any time within !
ven, they shall cause, after thirty days notice |
lch election TO be held.
ARTICLE XXXIL
majority of all the directors elected NAV n-ovi
onaly accept any additional power, Or privilege |
'6t may hereafter be conferred upon the CORPORA,
or either by amendment of the act under which n
formed or by any other new act or euactments
ID may amend these articles of association; but ,
g maj ADOPTION and acceptance of such additional,
'"er or privilege or amendment Of these arti.
IS shali be by vote of stockholders in tha man.
n provided by law. ~ 1-"A ]
ARTICLE XXXIII. II
The liquidation Of the affairs of the CORPORATION
,ek Se 0y the commissioners elected by the
at purpose. after three months previous 4
tlce' IN two newspapers published in the j
y OF New Orleans. Each of said commissioners |
Oh De citizen OF this State and mot Indebted to
acorporaflon. and at such meeting the stock. [