New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-07-01

ARTICLE v.
The capital stock of this association shall be five
hundred Thousand dollars ($5000 1000. divided into
fine thousand shares of one hundred dollars lSiQo)
thereafter until the Whole is paid up
90 her o9
shares. Is they fall DUE the Subscriber anal be
CHARGED interest At the rate OF eight per cent Per
Any subscriber neglecting or refusing to pay the
" days .fts the time fixed for tho payment Of TIE
and in the manner Aforesaid. the Board OF ~.
B.nk al
payments that may have been made thereon.
The capital stock Of this Association mey here
milton isi dollars 81 CO. dvicsd into shares Of one
hundred dollars $1,000 each, henever sach increase
srs, and provided thirty Gays notice of the same
shall have been given in two newspspers published
holders shall have the privilege Of taking additions!
shares in proportion to the mum Der OF shares held
" 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.
ARTICLE vi
This association shall commence operation after
the payment of the second instalment OF the
stock by the Shareholders or when one hundred
thousand dollars $500. 00oO are paid in.
ARTICLE VII.
Tho device and seal Of the association shall be an
irish harp with Hibsrnia Bank of New Orleans en-
graved around it.
ARTICLE VIII.
All powers of the Association shall be vested in
board Of directors, consisting 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
nusiIy thereafter an election of directors By the
stockholders shall be held at the banking house Of
A msjority OF votes then and there given shall
Previous notice Of at least thirty C30 days OF said
election shall be gwen IN 1t least two newspapers
Published In New Orleans.
ARTICLE X
The following named persons are hereby chosen
and shall compose the FIRST Board of Hirsc tors, TO
serve until superseded BY the new board. to be
elected on the third Monday OF January. 1871:
Patrick Irwin, Archibald Montgomery,
Hugh McCloskey. Adam Thomson.
Edward Oonery. John Henderson,.
1 rao.rd R RnrAs Wiliam Hn1t "na"'
Nicholas Burke, Thomas Gilmore.
ARTICLE XII
The Board Of shall Ct ii their first
one to be wee president of the association.
Provided. said president and vice president re-
ceve not less than majority OF the votes OF the
All citations or 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
inability preside the vice president shall preside
and in case of his absence inability to act the
directors may elect, from their number. president
pro temore who shall. for the time being. e!erc
the full powers of the president or vice president.
ARTICLE XII.
The number Of directors necessary for discounting
notes and drafts, az bills OF exchange
and for the transaction of general business, shall
be determined BY the bylaws Of the association.
ARTICLE KILL
The Board of Directors shall have full power to
make bylaws appoint all officers of this association.
4 eli
That said appointments be made annually, and
held subject 10 removal at the pleasure of the
They shall fix the security to be given By the
They may also change the bylaws whenever the
agents within and out the State under rules to Be
prescribed By the board.
ARTICLE XIV.
The Board of Directors after paying all the expen
ses OF the shall twce or oftener in esch
and pay such DIVIDENDS out Of said profits as they
may deem Apedient.
Notice Of the same shall! BE- published in at least
leans.
The Board of Directors shall have power to fill aay
vacancy that may occur in the board.
ARTICLE XVI
Vacancies in the Board Of Directors may be de-
clared in consequence of DEATH resg cation defalca
ton. insolvency or absence without leave for ninety
consecutive days.
ARTICLE XVII.
Every tranfer of any share or shares Of capital
stock shall be made the books OF the association,
and snail De sgnsa 0y the snfIenoaer OF ms at
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 often onvenience may require, but tor
longer than ten consecutive days at any one time.
ARTICLE XIX.
No certificate OF stock shall be issued unless all the
instaliments have been paid in foil.
ARTICLE Xxx.
The failure. from any cause. to elect directors on
the day when sSch election should have been held,
shall not dissolve the association,
The directors then in office SD all hold over, but it
election, notice Of which shall b given provided
held.
ARTICLE XXI.
Esch shareholder shall be entitled directly or by
proxy at all elections for directors mat
any meeLing of the stockholders, vote upon
each SHARE provided stock holder shall vote in his
vided Also that after the first election shall have
owned the stock at least three months previous to
voting.
Every election of directors of this association shall
be ny ballot and conducted by three to be
any election. No two partners ehaIl be eg No at
the same time directors Of this bank, nor snail
director OF any other bank. or his partner be o al
rector of this bank.
ARTICLE XIII.
A msjori ty of all the directors elected may pro
visionaly accept any additional power or privilege
that hereafter be conferred on this association
either BY amendment under the act by which It was
formed, or by aEy new act or enactment, and may
amend these articles of association; but the final
adoption and acceptance of such additional power
or privileges shall be BY vote OF the stockholders
in the manner provided by law.
ARTICLE XIV.
The president and cashier shall sign oil contracts,
notes. certificates of stock and evidences OF debt OF
this association.
ARTICLE XIV. 49,.
Minutes of all proceedings BY the board of direc-
tors shall be kept by the cashier, and certified to by
the president or vice-president.
ARTICLE XVI
The liquidation of the affairs of the association
shall be made by three commissioners, elected by
purpose, alter thirty days previous notice IN, at
least. two spapers published in the city of New
Orleans. each commissioner to baA resident OF the
State and not indebted to the association
At such meeting stockholders may cede to suoh
commissioners all power necessary to the liquidation
of the alta rs of the association may M their term
Of Office, limit the period for liquidation, hx their
compensation, define their duties, and the manner
in which said commissioners may be removed ana
their term OF Office renewed.
r. ARTICLE XVII.
The stockholders shall not be responsible for
losses or damages incurred by said association
besond the amount of capital stock held or owned
by him or her respectively: -
lear Aforesaid the day, month AND year first above
written, in the presence Of Lawrence Mccormack
and sr1is MURPHY, witnesses, OF iawfui age 0oml-
cated in this city. who hersunto sign their names
with the PARTIES ana me, the said notary after the
reading Of these prs ents
Shares. Shares.
Patrick Irwin....... loo Edward Burks....... 100
A. Monteomery...... e Adam Thomson. So,
n AacCyln . Srnif