New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-07-16

CHARTER.
STATE OF LOUISIANA,
Parish Of Orleans, City of New Orleans 5

M
Parish of Orleans, City of New Orleans,
Be it known, that this second day Of April, in
the year of our Lord one Thousand eight hundred
United states Of America, the ninety fourth; be-
fore me, William Joseph Castell notary public,
isana. duy commissioned and qualified, and in the
presence Of the witnesses hereinafter named, ana
undersigned personally came and appeared, Pat
key, Adam Thomson Edward Conery, John Hendsr-
son, Thomas McKenna, Thomas Fitzwiiliam, Ed;
Thomas Gilmore Of this city, and the parties whose
names are hereuntO subscribed: 49,
Who declared that, aysiling themselves e Of the
banks the establishment Of general system OF
Free Banking, in the State of Louisiana, and the
thereto approved ON the fourteenth day Of March,
1870, they have agreed and do by these presents
agree and bind themselves, and those they repre-
sent form themselves into, and constitute an as
ISOLATION corporation for the objects and purpO-
hereinafter specified, and under the stipuiations
following tO-wit:
ARTICLE I.
the Thf BSs Ct Of III NV shall be
This association is formed for period Of twenty
years.
The object of this association is to carry on the
other evidences Of debt receiving deposits, buying
and selling gold and silver coin bullion bills Of ex
sor1i security and exercise all such incidental
powers as now may be hereafter author
lied by law.
The place of business and legal domicil of said
association, shall be the city Of New Orleans.
ARTICLE v.
The capital stock Of this association shall be five
hundred Thousand dollars $500, e0O), divided into
five thousand shares of one hundred dollars $l00),
each, ten per cent Of which shall be payable at the
signing ten per f Is naa e
Should any subscriber neglect to pay punctually
his her share installment OF his or her snare
or shares th"y fall due, the subscriber shall De
charged interest at the rate Of eight per cent per
annum therefrOm till paid.
instament or installments within the delay Of nine
ty days after the time fixed for the payment OK tne
same and in the manner aforesaid the Board OF ~
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 mill dollars Is oco divided into shares Of
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
lshed in the city of New Orleans, within which time
stockholders shall have the privilege OF taking ad
| ditiOnal shares in proportion to the number OF
shares held by them respectively.
Shares not taken At the expiration of said time
may be sold by the Board of Directors at not less
| than par for the benefit Of the association
ARTICLE vi.
This association shall commence operation after
the payment Of the second instalment OF the capt.
tai stock by the shareholders, when one hundred
| Thousand dollars ($1OO 0OOO) are paid In.
| ARTICLE VII.
The device and seal of the association shall be an
Irish harp with .'Hbernia Bank OF New Orleans en-
graved around 1t.
ARTICLE VIII.
All mowers of the association shall be vested in a
board of directors, cOnsistieg OF twelve persons,
| each of whom shall at all times hold in his own
a1nn nf N
'N'' ARTICLE TX
| On the third Monday of January, 1871, and an
nually thereafter, election OF directors by the
stockholders shall be held at the banking mouse
/ the association.
| elect
election shall be given in at least two newspapers
| published in New Orleans.
| ARTICLEX.
The following named persons are hereby chosen
and shall com, Ose the first Board of Directors, to
| serve until superseded by the new board, to be
elected on the third Monday Of January, la7l:
| Hugh McCloskey Adam Thompson,
Edward Conery, John Henderson,
Thomas McKenna, Thomas Flfzwllllam,
| Edward Burke, William HART,
Nicholas Burke, Thomas Gilmore.
! ARTICLE XII.
The Board of Directors shall, at their first meet
ing elect one of their members to be president and
one to be vicepresident of the association: 49,
Provided, said president and vice-president re
ceive not less than a majority OF the votes OF the
whole board. -,
OH the president or, in his absence, on the vice
president. -, =,
all meetings of the board and i'll case OF absence OF
inability to preside, the vice president snail pre-
side and in case of his absence or inability to Ct
the direc tors may elect, from their number 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 ex
| change and for the transaction of general bust
ness shall be determined by the general bylaws O
7 the association.
ARTICLE XIII.
The Board of Directors shall have full power t.
| make bylaws, appoint all officers of this associa
ton, and fix their salaries.
| That said appointments be made annually ant
| held subject to removal at the pleasure of thu
| board.
They may also change the bylaws whenever thu
! interest of the association demand it, and appoin
agents within and out OF the State, under rules
! be prescribed by the board.
ARTICLE XIV.
| The Board of Directors, after paying all the ex
penses OF the association. SHALL twice or oftener Il
declare and pay such dividends out OF said profits a
| they may deem expedient.
Notice OF the same snail De pllDllSHeu Ill at
two newspapers published in the city Of New Or
''"' ARTICLE XIV.
| The Board of Directors shall have power to fl
| any vacancy that may occur Ill the board
ARTICLE XVI.
l Vacancies in the Board of Directors may be dc
clared in consequence of death, resignation dealca
ton insolvency absence without leave for ninet
''''' ARTICLE XVII
Every transfer Of any share or shares of capita
stock shall be made the books Of the association
and shall be signed BY the shareholder or his atto
| new but no stakeholder shall have the right I
transfer his stock unless his matured obligations
| the bank paid Or secured.
ARTICLE XVIII.
| The Board of Directors may close the transfe
| book as often convenience may require, but 10
} no longer than ten consecutive days at any on
time. u,o
No certificate of stock shall be issued unless a
the installments have been paid in full
ARTICLE Xxx.
, The failure from any cause, to elect directors o
the day when such election should have been helt
shall not dissolve the association.
The directors then in Office shall hold over, but
shall be their duty to ap9nt another day for s%c
in article nine, until the election shall have bee
held
| Each shareholder shall be entitled directly or b
| proxy, at all elections for directors, any ma
ter at any meeting of the stockholders, to one vol
| upon each share provided no stakeholder shall vol
provided also that after the first election he sha
: have owned the stock at least three months pr
| viOus to voting 1890
Every election of directors of this associate
| shall be by ballot and conducted by three inspec
| Ors to be appointed by the board at least on
week prior to any election No two Sp partners s IA
, bank. shall a director OF any other bank, or Ii