The Opelousas journal. [volume] (Opelousas, La.) 1868-1878, 1871-05-20
No. ~.
AN ACT
To incorporate the Cosmopolitan Bank of
New Orleans.

TO incorporate the Cosmopolitan Bank of
New Orleans.
SECTION l. Be it enacted by the Senate
and House of Representatives of the State
of Louisiana in general assembly convened,
That for the period Of twenty-five (25) years
from and after the date hereof, the follow
ing named persons, their successors ana as.
signs, viz: George G. Wilder, Edmund G.
Wells, Blayncy Z. Walshe, Frank W.
Seymour, Henry w. ". Reynolds, Jules A.
A. Rousseau, Charles B. Lucas James W.
Davis Edwin C. Bulard, Philip A. Cohen
and William Ditto, are hereby created a
body corporate and polite, with all the
rights, powers and privileges to do and per-
form, and to carry on and transact general
banking business, under and by virtue Of
and pursuant to the general laws and stat
utes now in force, and all laws and statutes
that may hereafter be enacted by the Legis-
lature cf>the State and, also, with such
forth in the following article, viz:
ARTICLE I.
The corporate name of this association
shall be the Cosmopolitan Bank Of New Or
leans, and it's domicile shall be the city of
New Orleans.
ARTICLE H.
The object and purpose of this associa-
ton is to manage and conduct and to carry
on ard transact a general banking bust
ness under and by virtue Of and pursuant
to the general law and statutes on that
subject and enacted by the Legislature OF
the State of Louisiana, and in SO doing to
promote and foster the interest of the work
ing classes, and assist those persons for
the time being without employment aud
temporarily in need of money for their own
or family support; also 10 aid, assist and
facilitate generally the mercantile communi.
ty in the prosecution and transaction of
business and, in order to accomplish
and eonsummate such objects and pur-
poses, said corporation shall have power
and authority to receive deposits of money
In any sums or amounts from one dollar
and upward, and pay out of the same by
check or otherwise, and for which deposits
of money fair rate Of interest shall be
allowed the depositors, at the discretion of
the board of directors, who shall fix the
rate OF inienest thsrgcn from time to time,
ARTICLE Iii.
This corporation shall also have power
to purchase and hold, and to sell and con-
vey real or personal property, and to grant
and receive and to accept mortgages on the
same; also to pledge and receive in pledge
movable or immovable property, and to
make, execute and issue, and to receive and
grant certificates of pledge or pawn of any
kind or nature whatsoever, and generally te
do and perform all acts or things requisite
| or sccsssRgy, and Belonging or appertain
ing to the business Of ioaning or borrowing
| money on security of pawn, pledge, col
lateral or mortgage. Said corporation may
/ for the interest of the stockholders, pur,
| chase certificates of pawn, pledge, or othel
| obligations Of Indebtedness issued in its
corporate or business capacity, or those OF
like character issued by other associations
or by private individuals,
ARTICLE ".
The capital stock of this association i:
hereby fixed at seven hundred and fifty
thousand (S75o, ,000 dollars, represented by
seven thousand five hundred shares Of ONT
| hundred ($i00) dollars each. Ten 90
| per cent of each subscription shall be pay
able at the signing of these articles, ant
the balance at such times and in s0cf
amounts or installments as the Board o
Directors may order; provided, that no
more than ten (10) per cent of said sub
scription shall be called for oftener thar
once within every thirty (30) days. Shoult
any subscriber refuse or neglect to pa,
punctually his instailment or installment
as the same may mature interest thereon a
the rate Of six per cert per annum shall b
added thereto from maturity till paymen
is made and if any subscriber refuse o
neglect to pay his installment Or install
msnts within thirty (a0) days after th
specified time Of payment, the board of di
rectars reserve to themselves the right c
causing any share Or shares upon wich an
installmcnt may bs due to DO aold at pub