New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-05-11
CORPORATIONS.
CHA RTEK,
UNITED STATES OF AMERlCA-STATE OF
LOUISIANA-CIIY OF NEW ORLEANS.


| named ana upoers gnsd, who seyerally declared
that they do, by these present, form themselves
unosr authority OF an at OF tha eglsIai ufe nj ms
State, entitled AN act to este biiSh ser er,l
approved on the fifteenth day of hiarch one thou.
SAND eight hundred and fifty fve to which END they
naks and agree to tie following
Articles OF AasocIn1lon;
ARTICLEL
| The corporate name of the association shall be
THE BANK OF LAFAYETTE"
| ARTICLE H.
The object Of the association is to carry on the
business OF banb ing by discount,ng lis notes
| and selling gold and silver bullion, bis of ex.
cnange and other personal property ioaning money
on real and personal security, and to exercise
such incidental powers as now or may be here
sttef authorized by law.
ARTICLE III
| The place of Business and legal dornicil of said
Corporation shall be located in the ourth district
| OF tie city OF New Orleans.
| ARTICLE ".
The capital stock of said Cooperation to be Two
Hundred Thousand Dollars, diviCed INTO -Four
thousand SHARES OF Fifty Dollars each. pay able
lnsta iments, as follows, viz: "en'y hve par cent
on the first day, of August, $50 Tween i've per
cent tho first day of November 1876. and twenty
i've per cent on the first DAY of February, 1871.
ARTICLE V.
| The bank shall be put in operation so SION as one
hundred thousand dollars shall have been sub
| scrIbsd ana the rtQulsitions of law complied
with and shall terminate IN the year eighteen hun
| dred anu ninety.
| ARTICLE vi.
| The Board of Directors shall be empowered to
scribeo snail! have reached the atort SAID sum Of
tso hundred thousand dol srs, upon the terms
that s further subscriptions .cck shall be PAID
IN cash, at The tune OF subscribing, to the tu!i
| stock
ARTICLE VII.
| The capital stock of the Corporation may here
after be Increased to any sum not exceeding one
million dollars provided TAT majority in amount
OF all the stockholders shall vote for such increase.
ARTICLE VIII.
After any increase of capital shall have been duly
authorized sixty days Their of shall be
| in two newspapers published IN the city of New
Orleans within VIII, en- tine stockholders shall have
the privilege of taking additional shares in proper
ton to The amount of their ock. Shares not AIKEN
at the expiration Of SAID time, may be sold b. the
Board of Directors, at not less than par, for the
| benefit OF the Corporation.
ARTICLE TX
On all instalinents in default, interest at the
| OF eight per cent per snnum shall be charged and
the Board OF Directors, after ten days notice by
advertisement, shall have the right to forfeit and to
cause to be sold any STARE snares, which any
ns ia !ment may be due and remain unpaid, for the
benefit of the Corporation.
ARTlCLE y.
No certificate of stock shall be issued unless paid
| in full.
ARTICLE XII
This CORPORATION shall have seal, the device of
which snail DE the bust of the Marquis de lafayette,
with the name of the Corporation IN the fnarsin.
ARTICLE XII.
All powers of the Corporation shall be vested in
Board OF Directors, consisting OF thirteen persons,
each OF whom shall mold in his own name and right,
| or Of the firm OF which he is g member 81 les5t
NJ ft A
ARTICLE MIL
| The first Poard of Dire tors shall be composed of
J the following named persons, ill citizens OF this
SEAMAN Hopkins. Jr.. John A. Freshman.
| iliam q Coyle, ono f. Tnie>msn.
| Pin liop Drumn, Theodore Berkson,
| John T. Higgins. Gus a. Breanx.
| John G. fleming. John A: Watkins.
"i'ian ID t0S'It How'd r G S5In4fd D 'ena0eS'
| Who shall have power to procure banking house.
appoint officers and put the bank in operations ard
they snail continue in Office until ;he nr5t day OF
| May, egg teen hundred and seventy enc.
ARTICLE XIV.
The Board of Directors shall. at their first meet
irE eject OF their bers to be the President
at all loeet gs OF the Board He sha have charge
of the bonds OF the Cashier, and Of al Off ers
lne Corporation; also, of the ank notes intended
fer iRnature, uD,il au horned by lie Directors
be is uso and signed by hlm and the Cashier. III
may eiec, from their lumber President pro TEN,
who shall for the tiule being have and exercise the
ARTICLE XIV.
The Beard of Directors may at any time make
such by laws as they may deem eIeAt, and may
repeal the same al pleasure.
ARTICLE XVI.
The number of D rectors for discounting notes
and drafts. I'D p1rChasir bills Of exchange, may
be determined by tie b. laws OF the corporation
but fer the IRAN aci"n OF any other hind f bust
CURED to form quorum. and the decision OF the
majority OF said quorum shan be vahd a ccrpo
"'' ' ARTICLE XVII
The Board of Directors shall appoint a cashier
clerks. officers agents, and may remove the
pleasure, and shall TX the salaries OF ali the ot
GERS of the corporation said Board may aso from
time to time, delegate sacn power, IN transacting
the ordinary business of the corporation, to com
mittees Ineir own body. or to their officers or
agents, as they may deem eXpedIeut.
ARTICLE XVIII
TIE Board of Directors may purchase, out of tho
FUNDS the corporation any evidences of debt that
may be held by law, and transfer in pledge to toe
Auditor of Public Accounts, other proper officer
OF the state of Louisiana ali or any portion of
evidencss Of debt authorized to secure the pay
of notes OF CIRCULATION issued by tins corporation
ARTICLE XIX.
The Board of Directors shall have power to sup
! ply any vacancy that may occur in their board.
Such vacancy may be declared IN csonsequence OF
insolvency or abs. nee without esve for three
| successive months.
ARTICLE XX.
The Board OF Dir ectors, after paying all the ex-
peDses the Corporation, shal, twice IN each year,
declare ard pay such dividends out OF the surpu Us
profits they deem eApedient- Notice OF the
same shall be published in Two newspapers OF the
| city OF New Orleans.
ARTICLE XXI.
Minutes of al proceedings of the Board OF Di-
rectors shah be kept BY the Cashier, and Ger lined by
| the President.
ARTICLE XXI.
The President ard Cashier shall sign all con tracts,
notes. tic4tes STOCK and evidences OF DEBT OF
| the Cooperation.
ARTICLE XIII.
BOOKS for the registry and transfer of the capital
stocs shall be kept subject to such restrictions as
| the bylaws nay direct.
ARTICLE XIV.
Fyerr transfer Of any share or shares OF capital
stock shall be made on he books OF the Corporat1on
and be signed % the shareho oer, Or ais attorney IN
| .act
ARTICLE XIV
| The Board of Directors may close the transfer
books often as convenience mGJ require, Ou5 Tor
| no longer than DAYS at any enc time.
ARTICLE XVI.
40 share or shares OF the capital stock shall be
! t.ans err bic unless paid IN full.
ARTICLE XVII.
| On the third Wednesday OF April, eighteen hun
dred and seventy-one, and annually tnereaIter an
eectio, of directors, by the stockholders shall be
hei at tbe banking house of said corporate ion; a
pu raiiG Of votes then and there Rven snail eject,
previous notice of tina same to be gwen, al ieasC
thirty oays, newspapers pubiish ID the cIty
| of New Orleans All elections Tor Directors snail
ARTICLE XXViII
Each shall be entitled, directly Or by