New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-05-13
CORPORATIONS.
T. HAKrEk...".::: .'CHAHiAn
UNITED STATES OF AMERICA-STATE OF
LoUISIANA-CIIYO OF NEW ORLEANS.


Bs It known that before me, Thomas Jefferson
Beck q notary public IN and for the parish
ana aforesaid. duly commissioned and SWORD. per
sonslIy came and appeared the persons hereInsfter
named and anoers gned, who severaiiy declared
aud those whom they represent, into Cor porstion
uncer authority Of an act Of the hsgisstus o. TINS
tenn of free banking in the state of Louisiana
approved on the tii.een,h day of March, one thou:
sand eight hundred and fifty hve to which end they
mako and agree to the following
Articles OF Association:
The corporate name of the association shall be
THE BAHK OF LAFAYETTk.''
ARTICLE II.
The Sb,ect of the association is to carry on the
other evidences of debt, receiving deposits, buying
and selling gold and silver bullion, bh's OF ex-
on real and personal security and to exercise all
sEch incdenta 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 n the Fourth District
OF the city OF New Orleans.
ARTICLE Nv.
The capital stock of said Corporation TO be Two
Hundred Thousand Dollars, diviced INTO -Four
Thousand SHARES Of Fifty Dollars each. pay able in
the s as Of sy
the first day CT August $50 Twenty i've per
cent tbs first day OF November 1915. And twenty
I've per cent on the first day Of February, 1911
ARTICLE V.
The bank shall be put in operation soon as one
hundred thousand dollars shall have bsen sub-
scribsd and the acquisitions of law are complied
with and shall terminate in the year eighteen hun
dred and ninety.
ARTICLE VI.
The Board of Directors shall be empowered TO re-
oeive further subscriptions until the amount sub.
sorioed shall! have reached the aforesaid sum of
Two hundred thousand dollars, upon the same terms
81 II .1tss s ns
in cash, at the time of subscribing, to the fdii
amount OF the instaments matured on the original
stock.
ARTICLE VII.
The capital stock of the Corporation may here
after be increased to any sum not exceeding one
Of ali the soskhoders shall for such increase.
ARTICLE Will
After any increase Of capital shall have been duly
author sixty days notice thereof shall be gwen
Orleans within which time stockholders shall have
the privilege of taking additional shares. in proper
at the expiration of said time may be sold BY the
Board of Directors, at not less than par, for the
benefit OF the Corporation.
ARTICLE IN.
On all instal,ments in default interest at the
of eight per cent per annum shall be charged. and
advertisement shall have the right to forfeit and to
cause to be sold any share or SHARES, on which any
inst0!lnept may be due and remain unpaid, for the
benefit of the Corporation.
ARTICLE y.
No certificate of stock shallbe issued unless paid
in full.
This CORPORATION shall have a SEAL the device Of
which shall be the bust of the Marquis de Lafayette.
with the name OF the Corporation IN the margin
ARTICLE XII.
All powers of the Corporation shall be vested in .
Board OF Directors, consisting of thirteen persons.
each of whoa shall hold in his own name and right,
of the firm Of which he is a member at least
ARTICLE XIII.
The first Board of Directors shall be composed of
the following named persons, all citizens OF this
State, to Wit:
S Slam G0 Eoys d. oo Bfssslmnn
Ph,npp DrumIn, Theodore Berkson.
John F. Higgins Gus a. Brsau1.
John q. Fleming, John A. Watkins.
William II. foster, Richard s. Nenabss,
Lloyd R. Coleman,
Who shall have power to procure banking house:
appoint officers and put the bank in operation: and
.hey shall continue in office until the first day OF
May, eighteen hundred and seventy one.
ARTICLE XIV.
The Board of Directors SHALL at their first NEST
ing elect of their mem bers to be the President
OF Corporation. whose outy it shall be pre- side
at ali meeti rs OF the Board He shall have charge
Of the bonds Of the Cashier and Of ali OH ers Of
the Corporation; also, of the b ank notes intended
for signature until authorized by the Directors 70
De issued and signed by him aud the Cashier. In
mag elect from their number President pro TEN,
who shall for the time being have aud exercise the
tuE powers OF the President.
ARTICLE XIV.
TIE Board of Directors may at any time make
such bylaws as they may deem exponent, and may
repeal the same at pleasure.
ARTICLE WI.
The number of Directors for dscountng notes
and drafts. aod purchasing bills of exchange, may
be determined BY tie bylaws OF the corporation,
ness BY the board five of said rectors shall be re-
0uireo to form quorum. and the decision OF the
majority of said quorum shall be valid Is corpo
'''' ARTICLE. XVII
Tho Board of Directors shall appoint cashier,
clerks. officers and agents and may remove the same
GERS of the corporation. Said Board may also from
time to time. delegate s.ch power. in transacting
mittees OF their own body. or to their officers or
agents, as they may deem expedient.
ARTICLE XVIII
Tie Board of Directors may purchase. out Of the
funds of the Gorpolalo any evidences OF debt that
Auditor of Public Accounts or other proper officer
OF the state of Louisiana all or 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 shall 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 absence without leave for three
successive months
ARTICLE Xxx.
The Board of Directors, after paying all the ex-
penses Of the Corporation, shall, twice each year,
declare and pay such dividends out of the surplus
profits as they may deem sXpedent. 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.
shall DO kept by the Cashier, and Ger ed By
the President.
ARTICLE XIII.
Tho President and Cashier shall sign all contracts,
cert icaues OF stock ana evidences OF debt OF
the Corporation.
ARTICLE XXIIL
Books for tie registry and transfer of the capital
stoc eha be kept, subject to such restrictions as
the bylaw, iEay oirect.
ARTICLE NXIV.
Every transfer Of any share shares of capital
stock shall be made on the books of tho Corporation.
and be signed by the shareholder, BIS attorney IN
fact
ARTICLE XIV.
The Board of Directors may close the transfer
books as often as convenience may require but tor
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
81, ARTICLE XVII
On the third Wednesday of April, eighteen hun.
drsd and seventyone, and annually therea tier, an
election of Directors, by the stockholders, shall be
helt at the banking house of said corporation; a
plurality of votes then and there given shall elect
previous notice of the same to be gwen, at least
thirty Gays. IN two nsWspapers puDiisaea N the S