New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-03-10

AN ACT

To INCORPORATE the Louisiana Land Com
pany and Loan and Savings Bank.
SECTION !. Be it enacted b.; the Senate
ana House OF Representatives of the STATE
of Louisiana III general assembly convened.
That A. l.. Holmes. Daniel r: Smith. Rob
| crt H. McLe,uore. Charles II. Fox. ). ID.
Mcpherson. Andrew j. May. Sanders D..
! Oliver. j. Il. Irwin. Spencer Field. Henry
| l.. Birge Robert H,oomcr. W. III. Henning.
James l.. Aiken. y. Underwood William a.
Gardner Ernest de Blanc. NJ. a. South
worth. W. V. Burgess. G. W. Carter. J..
| Henri Bsrch. William Hanc:uan. James =.
/ Butler, 4. W. Norcrnss. j. W. lIli;nan.
| Daniel George W. j. Calhoun. X. w. Todd.
| j. A. Reynal. +. Marie. Robert Dul!ng. w
| NJ Conor. H. :. hammond and their a>so-
ciatcs and Successors. and such person, IL.
! together with them. may hereafter become
| stockholders in the company hereby ere
! ated shall be and are hereby declared a
| body polite ami corporate by the name OF
! the Louisiana Land Company and Loan
| and Savings Bank. and as such
and by THAI name and style shall
| have pcrupt;lal succession. and are hereby
| declared to have perpetual charter. accord
! N. to tie conditions and provisions herein
| after mentioned. and shall sue and be sued
| purchase, hold. sell. contract. lease and re-
| lease. grant and transfer. determine ana
| appoint t."::. otficaTS aud servants. and Fix
! their COMPENSATION and term OF Office. adopt
! and Use a coInlnon seal. make, publish and
| alter ut pleasure bylaws. rules ami rrgula
! tons for the government of the corpora
! ton and the carrying ON OF It's business.
and shall have power 10 receive moneys on
deposit. aud 10 allow and pay interest
! thereon, and 10 lend money II such rate o.
| interest. on real Or personal security. as the
| board of directors may deem sufficient, and
TO discount. buy and sell p-omiSso1y notes.
! buu.s. bills o.. exchange and other sccu-i-
| lies. ana to execute and accept ali such
! trust of every desert ntion as may be COM
mitted ~ K by any person or persons. or
! by the order ct any court OF record. and -
| .>sur certificates OF deposit for moneys de-
| posted with it. which shall be leyo-
! table by in'lol sement and delivery. and
to iSSi:e bills or notes OF the several delom-
| nations OF one dollar each, two dollars
each three dollars each. tive dollars each
ten dollars each. twenty dollars each, fifty
| dollars each. one hundred dollars each. five
| hundred dollars each and one thousand dol
| lars. and to perform al other acts and
| eXe.ciSe and en- JOY all rights and privileges
| incident to corporations. and. III general. to
do all other things which bodies corporate
| and polite or natural persons may do. and
| to maintain the SAINT. and III the exercise of
the powers herein granted may acquire by
purchase. gift. exchange. devise. or any
other lawful way. any movable or lmluov-
able property. and may receive. buy, emit.
make, issue, subscribe to, receive assign
mcuts OF. or otherwise acquire any movable
| and iinmovable property or shares of stocks.
bonds or coupons. bills or exchange. prom
issory notes, subscription of stocks scrip.
money or other chooses i'll action whatever.
and the same and such things may, at will.
! through tne Board OF Directors OF said cor
| poratlon. or their duly authorized agents.
lease. grant. bargain. SELL convey. loan. eX-
| change, discount, or alien. as the ease
may be. to such person or persons as they
may see tit. and NAV make or receive de
posits or pledges. under such regulations
as the said Board of Directors may deem
fitting and proper for the interests OF the
stockholders. And the said corporation
may receive from and execute to the stock
holders thereof, or to their employees or
other dealers with them. any trust or
trusts, may grant annuites to them. or any
| OF them. and NAV insure them. or cause
| them to be insured. or any other person in
whom they may have or take an interest.
against any and all incidents OF life.
health, strength. property or estate: and
shall be, and ia hereby. authorized to lease.
purchase and dispose Ut real estate of every
|
power TO erect, construct, operate and es-
| tal,lish factories and manufactures of every
| dcScr. ptlon on such lands. tcnements and
real estate Us they may acquire or become
| i'll possession or by such purchase. negotisi-
| ton or contract. and shall have
tIll discretionary power to sell, dis
pose OF or negotiate suol real
estate or property i'll such quantity and
| ,arceS OF land as they may deem suitable
70 " II fio
interests OF said company and said settlers;
and shall have power 10 mortgage and
| make advances on real estate. personal
! property, and all collateral securities pro
| vided. that in all such cases such powers be
executed Ivy the board of directors of said
corporation. or by agents duly authorized
| thereto
SEC. ,. Be it further enacted, etc. That
! the capital stock of this corporation shall
| be one hundred thousand dollars. which NAV
| he increased ut any time. at the will of the
directors. to an amount not exceeding
twenty millions OF dollars. Said capital
| stock shall be divided into shares of one
| hundred dollars EACH which shall be deemed
| personal property. and shall be transferable
on the books of the corporation in such
manner as it by law may prescribe.
| SEC. s. Be it further enacted, etc. That
| this corporation shall have power to com
mence and continue their business opera
| tions, in conformity with the powers granted
| In this act. as soon as the capital stock of
one hundred thousand dollars shall be sub
scribed. and Of which fifty thousand dollars
shall be paid into the hands or treasury of
| said directors.
SEC. 4. Be it further enacted. etc. That
the affairs Of this corporation shall he NAH
aged by board Of twenty directors, Il
majority of whom shall form quorum for
! the transaction of business. The persons
named in the first section Of this act shall
| form the Board Of Directors, from the date
OF the passage Of this act until the expira-
| ton of five years thereafter, and until their
| successors shall have been duly elected.
Within thirty days prior to the expiration
| Of said oervice . directors, notice of not
lees than - days, ehau be gwen r. the