New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-07-19

United states OF AlneTlcd, nc ulucty-iOuftN;
fore me, william Joseph Casel, notary public,
in and for the parish Of New Orleans, State Of Lou
isiana, duly commissioned and qualified and in the
presence Of the witnesses hereinafter named and |
undersigned, personally cams and appeared, Pat
rick Irwin Archibald Montgomery, Hugh McClos- |
key, Adam Thomson, Edward ConeTy John hend E
ward Burke, William Hart, Nicholas Burke and |
Thomas Gilmore, Of this city and the parties whose
Who declared that awaiting themselves of the
provisions of the act entitled An Act relative to
banks, the establishment Of general system OF
Free Banking, in the State Of Louisiana, and the
duties of Auditor and Treasurer, in relation
thereto approved on the fourteenth day of March,
1870, they, have agreed anddo oy these presents
sent, form themselves into and constitute an as
sociation or corporation for the objects and purpo
SEES hereinafter specified, andnder the stpulations
following, to-wit
ARTICLE I.
The corporate name Of the association shall be
the HIBERNAN BANK OF NEW ORLEANS.
ARTICLET.
This association is formed 70: period of twenty
years.
The object of this associations to carry on the
business of banking by discorIting bills, notes and
other evidences of debt, receiving deposits, buying
and selling gold and silver CON bullion, bills of ex-
change real estate; lOanng money Oh real and per.
sonai security, and to exercise all such incidental
powers now are or may bs hereafter author
lied by law.
The place of business and hsal domcil of said
association, shall be the city 81 New Orleans.
ARTICLEy
The CAPITAL stock of this association shall be five
hundred thousand dollars sOOO0), divided into
five thousand shares OF one hundred dollars Is 1907,
each ten per cent of which shall be payable at the
signing thereof, ten per cent every thirty days
thereafter until the whole is paid up.
his or her share or nstalimrt Of his or her share
or shares as they fall due, thu subscriber shall be
charged interest at the rate q eight per cent per
annum therefrom till paid
ANY subscriber neglecting Or refusing to pay the
nstallment nstallments wIlin the delay OF nine
ty days after the time fixed fr the payment OF the
same and in the manner Aforesaid, the Board of Di
rectors after thirty days noite, shall declare the
same forfeited to the Bank Including all previous
that may have bee. naas anereon ber
after be increased to any SIN not exceeding one
million dollars ISL 900 OO0l, dEIed into shares OF
one hundred dollars S 1907 cad, whenever such in
crease shall be authorized ly two-thirds of the
stockholders, and provided thf days notice OF the
same shall have been given intTo newspapers pub
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: ,. .;
NAV be sold by the Board of Directors at not less
than par for the benefit of theassociation.
ARTICLE VI.
This association shall commence operation after
the payment of the second intallment of the capi.
thousand dollars IS 100, 0C0O) ae paid in
ARTICLE VI
The device and seal of the association shall be an
Irish harp with "Hibernia Balk OF New Orleans en-
graved around it,
ARTICLE VII.
All powers of the association shall be vested in a
board OF directors consisties of twelve persons,
each of whom shall at all tines hold in his own
right at least twenty-five 25) shares Of the stock OF
this association ARTICLE TX
On the third Monday of JaIrary, 1871, and an
nuallv thereafter, election VI directors by the
stockholders shall be held the banking house OF
the association. ,
majority OF votes then alu there given Shall
elect.
Previous notice of at least thirty 1907 days of said
election shall be given i'll at last two newspapers
published in New Orleans.
ARTICLEL
The following named person are hereby chosen,
and shall compose the first Bard of Directors, to
serve until superseded by II, new board, to be
elected on the third Monday q January, l81l
Patrick Irwin, ARCHIBALD Montgomery,
Hugh MeCloskey, AdanThOmpson,
Edward COnery, join henderson,
Thomas Mckenna, Thom.s Fltzwllam,
Edward Burke, Nillim Hart,
Nicholas Burke, Thon;s Gilmore.
ARTICLE u
The Board of Directors shall at their first meet
ing elect one of their member TO be president, and
one to be vce-president OF thea5sOclatl0n.
Provided, said president and vice president re-
ceive not less than majort OF the votes OF the
whole board.
on the president or, in his a'sence Oh tine wee
president.
all meetings of the board andn case of absence or
inability to preside, the vice president shall pre-
side and in of his absene inability to a ct
the directors may elect from teir number, pres
ideut pro tempore who shall for the time being,
exercise the full powers OF tie president or vice
president.
ARTICLE M
The number of directions necessary for discount
ing notes and drafts, and purchasing bills OF eX'
change, aud for the transactin OF general bust.
ness shall DE determined by tie general bylaws OF
the association.
ARTICLE XII.
The Board of Directors shat have full power to
make bylaws, appoint all Others of this associa-
ton, and fix their salaries.
That said appointments bemade annually, and
held subject to removal at he pleasure OF the
board.
They shall fix the securityto be given by the
officers respectively
interest of the association demand it, and appoint
agents within and ont of the tate, under rules to
be prescribed by the board
ARTICLE KY
The Board of Directors afr paying all the ex-
penses of the association shall twice oftener in
each year, if the ppotts of tie business JUSTIFY 1t,
declare and pay such dividendDut OF said profits as
they may deem expedient
Notice OF the same shall be published in at least
two newspapers published in lie city OF New Or'
leans.
The Board of Directors shall have power to fill
any vacancy that may occur imhe board.
ARTICLE XIV.
Vacancies in the Board OF directors may be de-
cared in consequence of death, designation, detalca-
ton, insolvency or absence without leave for ninety
ARTICLE XVI
Every transfer of any share shares OF capital
stock shall be made OH the boOb of the association
and shall be signed by the shareholder or ms attor
ney but stakeholder shall have the rlght 10
transfer his stock unless his maured Obligations 10
the bank are paid or secured.
ARTICLE XVII.
The Board of Directors may close the transfer
book as often as convenience nay require, Dut Ior
no longer than ten CONSECUTIVE days at any one
time.
ARTICLE XII.
No certificate of stock shall h issued unless all
the installments have been paidin full.
ARTICLE Ky
The failure from any cause, t. elect directors on
the day when such election shGld have been held,
shall not dissolve the association.
The directors then in office shall hold over, Dut IL
shall be their duty to appoint another day for sucn
election notice of which shall h given as provided
in article nine, until the eiectn shall have been
held.
Each shareholder shall be entitled directly or by
proxy at all elections for directors on any mat
Ter, at meeting OF the St0cE0lutrs, NV.o
upon each share, provided no sDclh0lder shall vote
in his own name over one 10O) hundred votes, ana
provided also, that after the tirt election ne snail
have owned the stock at least three months pre-
viOus to voting.
ARTICLE XXI.
Every election of directors If this association
shall be by ballot and conducted by three inspect
ors to be appointed by the bard. at least one
week prior to any election. NOtvO partners slali
be eligible at the same time, directors OF tiis
bank, shall director of other bank, or his
q director
ARTICLE XIII.
majority of all the directors elected may pro-
visionaly accept any additional power or privilege
that may hereafter be conerredOn this ASSOCIATION
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