New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-05-31
CORPORATIONS.
CHA1rEH.'''''':::.:.:..''','c HAHTA-'
UNITED STATES OF AMERICA-STATE OF
LOUISIANA-CITY OF NEW ORLEANS.

n MAJ x61S. ''.'.''NAAN-A
UNITED STATES OF AMERICA-STATE OF
Lou1s1ANA-CITY OF NEW ORLEANS.
Re it known that before me- Thomas Jefferson
Beck. a notary public IN and for the parish
AID city Of New Orleans. state OF OIL! Lop 1,sr.
sonally came and appeared the persons herennIte5
named and Undersigned, who severaily oeciaIea
that they do, by these presents. form themselves
and those whom they represent. into Corporation.
under authority Of an act OF the Legislature o. tnas
state, entitled An act to establish genera BYE,
tenn of free banking in the state OF Louissns,
approved on the fifteenth Gay Of March one thou 1Ss
sand eight hundred and fifty five. to which emo they
make and agree to tie following
Articles Of Association:
ARTICLE I.
The corporate name of the association shall be
1.-THE BANK OF LAFAYETTE"
ARTICLE II.
The object of the association is to carry on the
business of banking, by discounting bills, notes and
other evidences of debt, receiving deposits buying
change and other personal property, loaning money
on real and personal security, and to exercise 81
such ntal powers as are now, or may De mere
after authorized by law.
ARTICLE III.
The place of business and legal domicil OF said
Corporation shall be located in the fourth Olstrlct
of the city of New Orleans.
ARTICLE ".
The capital stock of said Corporation to be Two
Hundred Thousand Dollars, divioed INTO -Four
insta lInents, as follows viz: Twenty-Five per cent
on the first day OF May, 1870 Twenty-Five per cent
cent on the first day Of November 1876. And twenty
five per cent the first day of February, 1871.
ARTICLE V.
The bank shall be put in operation so soon as one
hundred thousand dollars shal have been SUB,
scrIbsd and tie acquisitions of law complied
with and shall terminate the year eighteen nun
Ol'N anu 1' ARTICLE vi.
The Board of Directors shall bs empowered to re-
oeive further subscriptions, until the amount SUP
scribed shall have reached the aforesaid sum OF
hundred thousand dollars, upon the same terms
of payment prescribed IN ARTICLE fourth PROVIDED;
that all further subscriptions of STOCK Stall pc pslo
in cash, at the time of 81 bscribng, TO the fdii
amount OF the instalments matureo on the oilgin&i
ARTICLE VII
The capital stock of the Corporation may here
@ be to a9 ss n
of all stockholders shall vote for such increase
ARTICLE VIII.
After any increase of capital shall have been duly
authorized, sixty days notice thereof shall be gwen
in two III .1s have
the privilege Of taking additional shares, IN proper
ton to The amount OF their stock Shares not taken
at tine expiration of said time, may be sold by the
Board Of Directors. at not less than par, for the
benefit OF the Corporation.
ARTICLE TX.
On all nstallmerts in default interest at the rate
of eight per cent per arnum shall be charged ana
the Board of Directors, after ten days notlce. by
advertisement shall have the right to forfeit ana to
cause to be sold any share snares, on which any
instalnent may be due and remain unpaid, 1oT the
benefit Of the Corporation.
ARTICLE X.
No certificate of stock shall be issued unless paid
ARTICLE XII
This Corporation shall have seal. the device Of
with the name Of the Corporation IN the marslns
ARTICLE XII.
All powers of the Cooperation shall be vested in
Board OF Directors consisting of thirteen persons.
each of whom shall hold IL his own name and rlght,
or OF the firm Of which he is member at least
twenty shares of the capital stock OF said Company.
ARTICLE XIII.
The first Board of Directors shall be composed of
the following named persons, all citizens OF this
Seaman Hopkins. Jr. John 4 4. 81 Braselnan.
Philip Drumm, Theodore Berkson,
John p. Higgins, Gus. a. Breaux.
John q. Fleming, John A. Watkins.
Lloyd r. Coleman,
Who shall have power to procure a banking house;
appoint officers and put the bank in operation and
they shall continue in office until the nrst day OF
May, eighteen hundred and seventyone.
ARTICLE XIV.
The Board of Directors shall. their first meet
ing elect Of their mem bers to be the President
of the CORPORATION, whose outy it AL be to preside
at all meeti of Board. He shall have charge
of the bonds Of the Cashier, and OF all ctieers OF
the Corporation; also, of the blank notes intended
be issued and signed by him and the Cashier In
case OF absence or inability to act the Directors
may elect from their mum Der President pro tenn.
vino shall for the time being have and exercise the
full powers of the President.
ARTICLE XIV.
The Board of Directors may at any time make
such by -laws as they may deem exponent and may
repeal the same at pleasure.
ARTICLE XVI.
The number of Directors for discounting notes
be determined by the bylaws OF the corporation
but for the Transaction Of any other kind Of BUSH
ness by the Board ve OF SAID Directors shall 5e re-
majority OF said quorum shall be valid as corpo
'~'' ARTICLE XVII
The Board of Directors shall appoint a cashier
clerks officers and agents, and may remove the same
GERS OF the corporation Said Board may also from
time to time, delegate sEch power, in transactlng
the Ordinary Business Of the to com
agents, as they may deem expedient.
ARTICLE XVIIIi
The Board of Directors may purchase, out of the
funds of the corporation any evidences of debt that
may be hs t oy law and raIsief pledge to the
OF the State of Louisiana, all 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 stall have power to sup
ply any vacancy that may occur in their board.
Such vacancy may be declared in consequence of
DEATH resignation, want of requisite number of
shares insolvency or absence without leave for three
successive months.
ARTICLE Xxx.
The Board of Directors, after paying all the ex-
penses # the Corpcratlon shall twice in each year.
declare and pay such dividends out of the surplus
profits as they may deem expedient. Notice of the
same shall be published in two newspapers of the
city OF New Orleans.
ARTICLE XXI.
Minutes of all proceedings of the Board of Di-
rectors shall be kept by the Cashier, and ed BY
the President
ARTICLE XXI
The President and Cashier shall sign all tracts:
notes certificates of stock and evidences OF debt of
the Corporation.
ARTICLE XEfU
Books for the registry and transfer of the capital
stock shall be kept, subject to such restrictions as
the bylaws Eay direct.
ARTICLE XIV.
Every transfer CT any share or shares of capital
stock shall be made the books of the Corporation,
and be signed by the Shareholder or his attorney in
fact. -
The Board of Directors may close the transfer
books often as convenience may require. blu. for
no longer than ten DAYS at any one time
ARTICLE XVI.
No share or shares of the capital stock shall be
transferable unless paid in full.
ARTICLE XVII.
On the third Wednesday of April, eighteen hun
election of Directors, by the sockholders snail be
held at the banking house of said corporaton
paTay of % then ts AND there 10 h shall elect
thirty in two newspapers published in the city
of New Orleans ALI elections for Directors shall
ARTICLE XVIII.
Each stakeholder shall be entitled directly or by
proxy to vote esch share of stock OF the Cor.