New Orleans Republican., 1871-03-23

NAV deem expedicnt. and may also appoint
agents within or without the State, under
| snch conditions as to them shall seem
proper; they shall also have power to make
| by-laws rules and regulations, and to alter
and amend the same whenever the interest
of the company may require it: and shall
also have power to supply any vacancies
| that may occur i'll the board: such Facan-
| cirs may he declared on account of death
| resignation. want of the requisite number OF
shares. Insolvency. or abscacc without leave
| for three successive months.
ARTICLE XIII.
Books for the registry and transfer OF the
shares of the capital stock shall be opened
and kept subject TO the restrictions directed
by the bylaws. All transfer ot stock shall
be- made on said books md signed by
the shareholder. or his attorney, and
which said books the directors may close as
| often as convenience or rXpeditncT may re
uuirr. but not for a longer period than ten
days at one time: should any subscriber to
the stock desire to transfer the same pre-
lous to full payment having been made he
| shall be permitted to do 80 by a substitute
of the subscription o! the party purchasing.
providin. that the substitute subscription
is satisfactory to the board OF directors.
ARTICLE XIV.
4 failure from any CauS" to elect dirtr-
tors on the day named loT that purpose
| shall not dissolve this association. but the
directors then in Office shall hold over until
auo.hry election is held. of which notice
! ahan forthwith be given as provided i'll
article ninth. and contained anti! an election
is held
ARTICLE w.
Each storlholticr. at all meetings for the
election of directors or othcG purposes. shall
| be entitled. directly u" Ivy proxy. to one
| vote tor each share OF stock owned or held
| by him: provided no stocl,nu'irr shall vote
| IN his own name over five hundred i1'hl
| votes: and provided. also that he SHALL have
| owned hi- stock ~ least three months prior
| to The day of yOtIn.
ARTICLE NNI.
Minutc. OF all the proceedings OF the
| board OF directors shall nr kept by the
cashier and verified hy tn" president. and
| those officers shall sign all notes. drafts,
| certificates OF stock. contracts. sales con
vtyances purchases. mort cages. and All
| other evidences OF indebtedness OF thl-
| association.
ARTICLE NvII.
The board OF directors may accept pro
| viSionally any powers or privileges con
| icrrcd on this association by any amend
| mtnt of the laws under which the same l.
| formed. or by the adoption of any new act
| tnai acceptance OF any such powers and
| privileges shall be determined by vote OF
a majority in amount of the stockholders.
ARTICLE NNIlI.
| The funds of this association shall consist
| Of those funds which result from the sale
| OF the capital stock. rs before said. and OF
| all those funds which may tie received or
paid into said bank from time 70 time. IN
| any manner whatsoever. and they >haI. b"
invested at rate not more than i've per
| cent month. or less. at the discretion OF
| The board OF directors; provided that no
| fund, be invested 10. longer period than
| one year.
ARTICLE XIX.
All Piled grs. pawuS OF other obligations.
OF Whatever nature or kini the .,me may
| be, and that may not have been redeemed
! at the date or period for whicil loan,
! may have been made thereon. Shai. b.
| considered forfeited to the association,
| and at least one" a wear. or at such
! periods a, shall lie d.>i ynattd hy
! the boa-d Of directors. after hitcr,
| days advertisement in one or !.Ipre ot the
ely newspapers, >,lch unr"dermrd pledges.
| pawn-. or other obi cations of indebtedness
| thus forfeited 10 The association. on account
| OF non pa vInrnt OF the same III principal
| loaned, well a. all interest stipulated
| ani thereon aCcr;jc,!. shall be rNpost.tt for
sal" at pGbl;" auction "r otherwise. and
| sold to the highest bidder .or cash. and the
! proceeds, after dtuuctin. the principal and
! interest. we'll a. all cost, OF sale ami ad-
ycrti>ementS. Il Shall hr placed 20 the
credit ot .he debtor on the books Of the
| association. 20 he opened and kept for thai
| purpose. ana should Il" or they. or their
| hrir, ur assigns, ia, II claim the >inIr with
in >!X months from and after the maturity
| OF such drbt, twenty 90 per cent thereof
| ~
| Treasurer tor thc Use ana benefit OF the
Charity Hospital. an, the remainder iher,'-
%, shall w. added TO the credit ct tine stock
| holders of the association
ARTICLE NX
At least once or twice a year If il shall
| appear necessary. it shall be The duty OF the
| cashier 70 cause 10 hr made an estimate OF
| the profits and losses of the association:
! aiso. an estimate OF all cash OF hand and
receivable 10y the company from all sources
whatsoever. and further, a statement OF al!
| the property, movable and immovabic. held
| or owned hv the same; also. statement OF
| all property movable or immovab'c and
mortgag"d or pledged to the association,
| togtthc: with all such other accounts as
/ may be necessary 70 exhibit complete
| statement of the affairs of the association
| for the information of the stockholders alId
| all parties therein interested: said state
ment shall he verified 10y the affidavit of the
cashier ami the president of the association
and entered upon the books of the saline to
b" opened and kept for that purpose. and
| which b Ok> shall be open to the inspection
| OF the stockholders and all pc, sons therein
| Interested or concerned.
Ii it shall appear by said statement that
.i!e profits Of the company do not exceed
it, losses bv more than two per cent %! the
stock subscribed. the board of directors
| shall not declare q dividend to the stock
| holders, but such percentage of profits shall
| he retained by the company reserve
| fund to be rcinVeStei or :" meet future
| losses Or liabilities. according to the objects
and purposes OF this association. Bat if it
shall appear that the profits exceed the
| loSScS by more than two per cent of the
| stock subscribed. then the board OF dircc-
| tors shall reserve and set apart Il portion
| thereof, but not more than two per cent #
| slch excess, to b" !icpt ~ reserve fund as
| before said. and the residue of such excess
| shall be lttably apportoncd and divided
between the stockholdrr, respectively.
ARTICLE NM.
The Subscriber or Subscribers to the cap
lta stock OF this association shall not be
| responsible for any less or damage that
may be incurred Ivy the same beyond the
| amount of the capital stock held and owned
| by HIM or them Respectively.
| ARTICLE NNII.
| The lnu;dation OF the affairs o. the ASST
| ciation shall be made by three commission
| rrS apDoIu.el bv til" stockholders at Il
| meeting convened FOR that purpose. after
| thirty tiays' previuus notice i'll two OF the
city newspapers. Said liuuidAtors shall be
| solvent persons. residents OF tins city. h"t