New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-07-24
CORPORATIONS,
Parish Of Orleans. CITY Of New Orleal

rick Irwin, Archibald Montgomery, Hugh McClos
key, Adam Thomson, Edward ConeIy, John Hender
| ward Burke, william Hart, Nicholas Burke and
Thomas Gilmore, Of this city and the parties WHOSE
who declared that, aysiling themselves of the
provisions of the act entitled Gan Act relative to
the Of system
| duties Of Auditor and Treasurer, in relation
| thereto approved on the fourteenth day of March
agree and bind Themselves, and those they repre-
sent to form themselves into and constitute an as
ISOLATION or corporation TOR 5he OBJECTS anu p1IRo
| following, tO-wit:
| The corporate name of the association shall be
the HIBEkNAN BANK OF NEW ORLEANS.
| ARTICLE II.
This association is formed for period Of twenty
ARTICLE III.
business of banking by discOunting bills notes and
other evidences of debt, receiving deposits buying
and selling gold and silver coin, bullion bills OF ex-
change real estate; lOaning money real and per.
souai security, and to exercise al such incidental
| powers as now are may I've hereafter author.
'zeo ny law ARTICLE ".
| The place of business and legal domio;l of said
association, shall be the city OF New Orleans.
ARTICLE v.
The capital stock of this association shall be five
hundred thousand dollars (s50o. 000l, divided into
five thousand shares OF one hundred dollars Is l0o),
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 mp.
his or her share, or instalment Of Ills or her share
shares, as they fall due, the subscriber shall be
charged interest at the rate Of eight per cent per
annum therefrOm till paid.
Any subscriber neglectins or refusing to pay the
y days after the time fixed for the payment Of the
same and in the manner aforesaid, the Board of D
rectors, after thirty days notice shall declare the
same forfeited to the Bank, including all previous
payments that may have been made thereon.
The capital stock of this Association may here
million dollars is o0O) divided into shares Of
hundred dollars 1907 each, whenever such in
crease shall be authorized by two-thirds OF the
stockholders, and provided thirty days notice of the
same shall have been given in two newspapers pub.
hshed in the city of New Orleans, within which time
stockholders shall have the privilege of taking ad
dtional shares in proportion to the number Of
shares held by them respectively.
Shares not taken at the expiration Of said time
than par for the benefit of the association.
ARTICLE VI
This association shall commence operation after
the payment Of the second installment Of the CAPT.
tai stock by the shareholders, or when one hundred
thousand dollars u loo, $1,000 are paid in.
ARTICLE VII.
The device and seal of the association shall be an
Irish harp with "Hiberna Bank Of New Orleans en-
graved around it.
ARTICLE VIII.
All powers of the association shall be vested in
board Of directors consisteg Of twelve persons,
each of whom shall at all times hold in his own
right at least twenty-five t25) shares OF the stock Of
TINS ASSOCIATION ART1cLE1x
On the third Monday of January, 1871, and an
nuay thereafter election OF directors by the
stockholders shall be held at the banking house of
the association.
A majority of votes then and there given shall
elect.
Previous notice of at least thirty (ao days of said
election shall he given in at least two newspapers
published i'll New Orleans.
ARTICLEX
The following named persons are hereby chosen,
and shall compose the first Board OF Directors, 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 Thompson,
Edward COnery, John Henderson,
Thomas Mckeuna, Thomas Fitzwilliam,
Edward Burke, William Hart
Nicholas Burke Thomas Gilmore.
ARTICLE XI
The Board of Directors shall at their first meet.
ing, elect of their members to he president and
one to be yice-presdent OF the association.
Provided said president and icc-president
ceive not less than majority of the votes of the
whole board
All citations other legal process shall be served
on the president Or, in his absence the vice
president.
The duty of the president shall be to preside at
all meetings of the board, and in OF absence or
inability to preside the vice president shall pre-
side and in of his absence or inability to ct
the directors may elect from their number O pres
ident pro tempOre, who shall for the time being
exercise the full powers OF the president or vice
president
ARTICLE. XII.
The number of directions necessary for discount
ing notes and drafts, and purchasing bills of
change, and for the transaction of general bust.
ness, shall be determineAby the general bylaws of
the association.
ARTICLE Kill
No 90 -,
ton, and fix their salaries.
That said appointments be made annually, and !
held subject to removal at the pleasure Of the |
board.
They shall fix the security to be given by the |
They may also change the bylaws whenever the |
interest OF the association demand it, and appoint
be prescribed by the board.
ARTICLE XIV.
The Board of Directors, after paving all the ex. |
penses of the association SHALL twice or ofener in
each year., if the ppotits of the business Justify it,
they may deem expedient.
Notice of the same shall be published in at least |
two newspapers published in the city OF New Or
ARTICLE XIV
The Board of Directors shall have power to FILL
any vacancy that may occur in the board.
ARTICLE XVI
Vacancies in the Board of Directors NAV be de. |
'lared in consequence of DEATH resignation detalca
on insolvency or absence without leave for ninety
ARTICLE XVII.
Every transfer of any share or shares of capital
STOCK snail be made on the books of the association
md shall be signed by the SHAREHOLDER or his attor
transfer his stock unless his natured Obligations TO
he bank are paid or secured
ARTICLE XVIII
The Board of Directors NAV close the transfer
'ook as often as convenience may require but for
AT |
ime " -' WV
ARTICLE XIX.
No certificate of stock shall be issued nnless al,
he lnstallments have been paid in full
ARTICLE Xxx.
The failure, from any cause to elect directors IN
ne day when such election should have been held.
hall not dissolve the association
ne directors then i'll office shall hold over but il
nan De their duty to appoint another day for such
lectlon notice OF which shall be given as provided
IA artice nlne until the election shall have been
ARTICLE XXI.
Each shareholder shall be entitled directly or bv
roxy, at all elections for directors on any mat
er, at any meeting of the stockholders to one yot.
pom each share provided no stakeholder shall yote
4 ms own name over one Geo hundred votes and
fovlded also, that after the first election he shau
ave owned the stock at least three months IRE
lous to voting. fAe
ARTICLE XXI.
, nMxety election OF directors of this association
hail pc by ballot and conducted by three irsnac-
RS 10 be appointed by the board at least ono
'eek prior TO any election No two partners sbnT
e eligible at the same time. as directors of f%is
ank nor shall director of any other bank or his
artner be a director of this bank. '"4iA' Vi LIS
ARTICLE XIII
majority of all the directors elected NAV nro.
accept any additional power or nIiSilhn
aat may hereafter be conferred on this asspcia-i
liner py amendment under the act by which a as
mnnS t ~ W any new act or enactment and NAV
dntn ,ne ,J articles OF association but the final
Rl Pr shall be by vote of the stockheders