New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-10-01

sentatives Of the United States Of america in Con-
gress assembled. That George II: Plant. William s.
Huntington, Lewis Cephane, II. A. Willard, George
snver S st"Ttavs Mi'a SHihh Gsthsop
Robbins, wiliissa B. Todd, Edward .s sinm.,
p Dole, Hugh MeCuiioch and Matthew G. En.sry sre
shall be- and they hereby declared to be- body
politc'and corporate by the name and style Of the
bia and nv that maine shall have succcssion and h
capable i'll law to sue and be sued plead and be i'm
pleaded. answer and be answered, defend and be de-
tru,led in all courts of law and equity and else
where: TO make and to common seal, and the
same to alter renew At pleasure; and generally
10 do and perform all things relative to the object
OF this institution which ~ now shall be lawful
for ny ndividual body polite or corporate to do
SEC And be it further enacted, That the .ofh-
GERS of said corporation shall consist Of president
and vice president who together with seven trus-
tees shall constitute board OF managers four Of
whom if the president or e-prcsident be present
shall constitute legal meeting OF such board for
TIL. transaction OF business 49,
SEC g. And be it further enacted, That said cor
poration shall meet annually in the month Of April
and ms much Oftener rs they may judge expedent
and any seven members of said corporation the
president, secretary treasurer being one, shall
he a quorum. aud the said corporation at their
annual meeting shall have power to elect
president and a treasurer, who shan give
bond in the OF ten thousand dollars
for the faithful discharge OF the duties OF his
Office aud all such other officers as may be deemed
one year and until others are chosen in their stead
and ali officers SO chosen shall e under oath to the
faithful discharge OF the duties OF their Offices,
SIC 4 And be it further enacted That said corpo-
ration may receive on deposit, for the use and
benefit OF the depositors All SUMS o, money offered
in the stock of any bank Incorporated by congress,
or may be loaned on interest TO any such bank
may be loaned Oh bonds notes, with collateral
crIity of the stock of such banks at not more than
+ ninety per centum OF its par value or they may be
At IN tne Raeo or oae On ee o Dhsa
any of said funds, or invested IL loans OF mort
| cages OF real estate: Provided Ihat the Whole
amount of stock held by the institution at one time
in any one hank both by way OF an nFestmen and
as a surety for loans, shall not exce4d oneha!f o.
the capital stock of such bank and that not more
than threequarters of the whole sum deposited in
the institution shall be at any one time invested in
mortgages Of real estate The income or interest
tors or their LEGAL representatives according 10 the
terms of interest stipulated and the principal
NAV he withdrawn at such times or III sIcii manner
ms the CORPORATION shall in its bylaws direct
SEC 5. And be it further enacted, That 10 Off
director, or committee, charged Wltn the duty
OF investing the deposits shall borrow any portion
thereof, or the same except III payment Of the
expenses OF the corporation; and II any officer,
director agent, other person connected with
said bank. and interested with the funds de-
posts thereof, shall enbezzle or frauhuently con-
vert the same to his own USE he shall be deemed
by any court competent 10 try the oilense be IN
prsoned i'll the penitentiary not less than one
SEC. G. And be it further ennacted, That
the subordinate officers and agents OF said
corporation shall re;psetivsy o gTt smsn Sc,
the board of managers may from time 20 tine
quire. and said board shall Tx the salaries OF such
officers and agents.
SEC = And he it further enacted, That the per-
SOILS named cOrporators in the first section OF
this act shall be authorized to meet and organize
said bank by the election of one of Their number
as president, and one as vice-prcsdent, and there
upon shall proceed to elect such persons as they
Il..I4 t1.sr ..G
SO that the whole number of trustees, or managers,
including the president and vice president shall not
SEc g. And be it further enacted. That this cor
poration shall make an annual report 10 Congress Of
their funds and investments. Said returns shall
specify the following particulars, namely; Inc
number of depositors; total amount of deposits;
amount invested in bank stock ami deposited in
bank on interest; amount secured by bank stock;
amount invested in public funds loans security
OF public funds; loans mortgage of real estate;
loans personal securities; amount of cash on
hand; total dividends OF the year; annual expenses
OF the institutions; all Of which shall be certified
and sworn to by the treasurer and i've or more OF
the managers shall also certify and make oath that
the said return is correct according to their best
knowledge and belief.
SEC. Q. And be it further enacted. That the books
OF said corporation shall, at all tiies during ther
hours of business be open for inspection ard ex-
animation to the Comptroller OF the Currency OF
SIC. 10. And be it further enacted, That said cor
poration mag make bylaws for the more orderly
management of their business, not Iepugnant 20
law; may have common seal, whidh they may
change ut pleasure: thu. all deeds, grants covcn
ants, and agreements. made by their treasurer,
any other pers0n BIZ their authority. shall be good
and Valid and said corporation shall have power 10
and may be sued defend and be held TO
swer, by the name aforesaid.
SEC. II. And be it further enacted That the said
corporation shall file IL bond, with security, with
the clerk of the supreme court OF the District to DO
approved by OF the judges of the said court, 10
the United States, in the penal Of two hundred
Thousand dollars. with condition tb pay and 70
satisfy TO every depOsitcr person entitled. such
sum the party may L. entitled to. within thirty
days after such deposit shall be demanded; and
which bond may be sued by any GeptIsitor OF per-
entitled after such demand and refusal TO paw,
and that the said supreme court shah have power
TO require bond, and new SECURITY. at any
time they may deem 1t necessary tu4 the interest
OF parties interested.
SEC II. And he it further enacted. That Congress
shali, at all tames, possess tie power TO alter,
amend. or repeal this act
Approved, May "A, 1870.
[PrBLIC-No T0.f
AN ACT to incorporate the Trustees Of the Cor
coran Gallery OF Art, and for erpurposes.
Be it enacted by the Senate and House OF Repre-
senatives OF the United States of America in Com
gress assembled That James NJ. Carlisle James C.
Hall George W. Riggs, Anthony Hide, James G.
Berret james c. Kennedy Henry d. Cooke and James
G. McGuire, of the city of Washington and of
Georgetown District of Columbia, and William T.
Walters, Of the city OF Baltimore State OF Mary
land and their successors, be- and they are hereby,
rate in law by the name and Of the H Tr HSo
of the Corcoran Gallery of Art, and by that name
may sue and be sued, lmpead and he implicated,
have perpetual succession, and shall and may take
hold, manage and dispose Of at all times, real and
personal estate, and shall and may do and perform
all other acts and things necessary appropriate
for the execution of the trusts created and con-
ferred on them in and by a certain deed from VII
liam w. COrcOran to them, the said parties herein
before named, which is dated the tenth day of
May eighteen hundred and siXty-nine. and was re-
corded on the eighteenth of the same month in
hber ID, number eight. folio two hundred and ninety
four, ct sequitur of the land records of WASH
ington county, District of Columbia, to which
reference is hereby made for greater certainty the
intent OF this charter of incorporation being that
the same shall be IN execution OF the trusts in the
said deed declared and set forth and not to any
other intent or purpose whatever.
SEC. 2. And be it further enacted, That the Sec
rotary of War, the Secretary of the Treasury and
the Secretary of State be- and they are heref
thorized and directed to ascertain and sett'
principles OF Justice. a fair and Just comp
for the use of the ground and buildings dest
the aforementioned deed, while the sa,
occupied by the United States for the pu
wee and that the sum SO ascertained an5
by them, or a majority of them, shall I'M
certificate and award thereof be paid to tn
ration hereinbefore created out of any II
the Sr treasury not otherwise appropriated.
which may be claimed or due to the Unite, l
by reason of the transfer of the proIert
mentioned me or the execution and delivery
sad deed from the said William W. Core
the above named trustees be- and the
hereby, remtted and released.
SEC. = And be it further enacted, That II
SAID buildings and grounds connected the
together with all the works of art that NAV
tanned therein, shall be free from all taxes "A
sessments by the municipal authorities or
United States, so long as the same shall be he
used for the purpose herenbefOre set forth
Approved, May "a, 1870.
RECANTATION NOTICES
of George b. Mah.u-