New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-05-12
CORPORATIONS,
r. NAKTER......... .ChA1AAA
UNITED STATES OF AMERICA-STATE OF
L0uIsIANA-CIIY OF NEW ORLEANS.

Be 1t known that before me, 4oncI 1880
AID city Of New Orleans, state of Louisi.
ana aforesaid. duly commissioned ana s~orn, per
named aud unoers, signed, who severaliy declared
that they do, by these presents, form themselves
and those whom they represent, into Corporation,
under authority an OF the Legislature Of this
state entitled AN act to establish general sys;,
tenn of free banking in the STATE OF LOUISIANA
sand eight hundred and tiy five. to which end they
make and agree to tee following
Articles OF Association:
ARTICLE
The corporate name of the association shall be
THE BAAK OF LAFAYETTE"
ARTICLE II.
The object Of the association is to carry on the
business of banking by discounting bills notes ano
and selling gold and silver bullion, bNs OF e1-
change and other personal property, ioanng money
srch incioentsi powers as are now, or may be here
after authorized by law.
ARTICLE III.
The place Of business and legal domicil OF said
Corporation shall be located in the Fourth DIstrlct
of the city of New Orleans
ARTICLE ".
The capital stock of said Corporation to be Two
Of poars
10 Instruments, follows viz: twenty-five per cent
the first day OF May. 1870 Twenty vs per r cen.
cent on tbs frst day Of November 1870 And twenty
Ave per cant the first day Of February, ls7l
ARTICLE v.
The bank shall be put in operation so soon as one
hundred thousand dollars shall have been cub;
scnbed and the r.aulst!ons OF law ara somplle nl
With, and sinai! terminate in year eighteen nun-
dred and ninety.
ARTICLE VI
The Board of Directors shall be empowered to re-
oeive further subscriptions, until the amount sup
two hundred thousand dollars. upon the same terms
of payment prescribed in ARTICLE fourth; provided
10 cash. at the time Of subscribing, to the full
amoont OF the instailmerts matured on the Original
stock.
ARTICLE VII.
The capital stock of the Corporation may here
after be Increased to any sum not excseolng one
OF al! 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 newspapers published in the city OF New
the privilege of taking additional shares. in proper
ton the amount of their stock. Shares not aken
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 a, iustaljments in default interest at the
of eight per cent per annum shall be charged and
the Board OF Directors after ten days notice. oy
sdvertsemen t shall have the right to forfeit ana 70
cause to be sold any share or snares. on which any
instament may be due and remain unpaid. for the
benefit of the Corporation.
ARTICLE Y.
No certificate of stock shall be issued unless paid
in full.
which shall 10 the bust of the Marquis de Lafayette
with the name of the Corporation in the marsin.
ARTICLE XII.
All powers of the Corporation shall be vested in q
Board OF Directors, CONSISTING OF thirteen persons
or of the firm of which he is q member a. least
twenty shares of the capital stock OF sad Company
ARTICLE Kill
The first Board OF Dire shall be composed Of
the following named persons, all citizens OF this
seaman Hopkins. Jr.. John A, Braselman.
William G.. Coyie, Otto L. Tniesman,
Philip Drumm. TheodorIberkson.
John 2. Higgins, Gus, A. Breaux.
john g. Fleming. john A: watkins
William Il roster, Richard 5. Venables,
Lloyd r. Coleman,
Who shall have power to procure banking house.
annoint officers an put the bank in opera.ion and
they shall continue in office until the first day OF
May, eighteen hundred and seventy ons
ARTICLE XIV.
The Board of Directors shall. at their first meet
ing elect Of their mem beers to be the President
at all meetit rs Of the Board He shall have cDerge
The CORPORATION; also, of the blank notes intended
for signature until authorized by the Directors 70
be issued and signed oy MN ana the Oasn In
may elect from their number PRESIDENT pro ten
who 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 BYLAWS as they may deem exLedient, and may
repeal the same at pleasure
ARTICLE XVI
The number of Directors for dscounting notes
and drafts ard purch ssirg bills of exchange, may
he determined by ire bylaws OF the corporation
but for the transaction of any other KIND II busl
ness by the Board i've of said rectors snail De re-
CURED TO form q quorum. and the decision OF the
majority Of said quorum shall De vaho as q corpo
rate act.
The Board of Directors shall appoint cashier
clerks officers and agents. and'may remove the sams
at pleasure. and shall fix the salaries OF an the ON
time to time, delegate such power, in transactinf
the ordinary business of the corporation, TO com
mittees OF their own body or to their omcers OF
agents, as they may deem expeolent.
ARTICLE XVIII
The Board of Directors may purchase, out OF thu
funds of the corporation any evidences OF debt ina
may be held by law. and transfer in pledge to IN
Auditor of Public Accounts, or other proper once
OF the State of louisiana all or any portion OF saia
evidences OF debt authorized to secure the psymen
of notes OF circulation, issued by TINS corporaton
ARTICLE XIX.
The Board of Directors shall have power to sup
ply any vacancy that may occur in their board
Snch vacancy may be declared in consequence o
death, resignation, want OF requisite NUMBER O
shares Insolvency absence without leave for tire
successive months.
ARTICLE XXX.
The Board of Directors after paying all the e1
pepses the Corporation, shall, twice IN each year
| declare and pay such dividends out OF the surplu
s pun's sha be- published in two newspapers of tn
city of New Orleans
ARTICLE XXI.
| Minutes of all proceedings of the Rosrd OF y
rectors shalt be kept by the Cashier, and Ger ihed
the President
ARTICLE XXI.
The President and Cashier shall sign all contract
notes, certificates OF stock and evidences OF oept
| the Corporation.
| ARTICLE XIII.
Books for the registry and transfer of the capit'
stock shall be kept subject to such restrictions
| the by laws LAY direct
| ARTICLE XIV.
| Every transfer Of any share shares of capiti
stock sha all DO made the books of the Corporate
and be signed oy the Shareholder or his attorney
! TACT.
| ARTICLE XIV.
The Board of Directors may close the transit
book as often convenience may require, but II
| no longer than ten days at any one time.
ARTICLE XVI.
| No share or soares Of the capital stock shall
| transferable unless paid IN tuIl
ARTICLE XVII.
| On the third Wednesday of April, eighteen hu
| dred and seventy-one, and annually Thereafter;
| election of Directors. by the stockholders. shall
| held at the banking house of said eorporatlon;
plurality of votes then and there given. shall elec
| previous notice Of the same to De gwen, at lea
thirty Gays in two newspapers published in the cl
| of New Orleans. All elections for DIRECTORS shi
10 ~ ' ARTICLE XVIII.