New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-10-12
CORPORATIONS,
STATE OF LOUISIANA.
PARISH OF ORLEANS, CITY OF Egw ORLRAxn

I
bn5 IN re year Of our Lord thousand eigh,
n gu az aha seventy three and of the indepep.
;htb " .ae e,eeq states of America the ninety
eightn. before me William Joseph Casteli q notary
Pupht "a I'D ior ths parish Of Orleans State 81
noui s GUY commissioned and qualiiied and in
| Tue presence OF the witnesses heleinaf ter named
and undersigned, personally came and appeared
the parties whose names are hereunto subscribed,
who declared that avafng themselves of the
provisions of the statutes of Louisana reia,
tive to the organization of Corporation 3
l themselves. and those who NAV bereafYaI
become members Of this corporation to form than1
selves into and constitute a corporation for tbs
| objects and purposes and under the stipulations
! following. TO wit:
| That the name, style and title of this corporation
shall be THE NEW ORLEANS HOMESTEAD AsS1..
! CITATION. 1t shall be domiciled in the city OF New
Orleans, and have and enjoy succession in its cor
| porate name for twelve years. 1t NAV sue and be
sued, and the president OF the association is dess
1 mated as the officer upon whom citation shall 10
served
! ARTICLE IL
Its object shall he the accumulation and disburse-
ment OF funu sufficient to enable the stockholders
tate within the city of New Orleans, and also tina
! OF Carrollton, as they may deem advantageous
| ARTICLE ILL.,
TIE members of this association must be resio
| dents of Louisiana. Minors may hold stock
through their tutors and women in their
| right
ARTICLE W.
| The capital stock of this association shall be
| hve hundred thousand dollars, divided into $500
| shares of 5000 each. The stock shall be paid as
| follows first payment Of fifty cents on each
| share, and every succeeding week thereafter n
| payment Of twenty-five cents on each share; this
method OF paying to continue until the sum pad
in by instalments, with all profits added thereto,
| shall amount to 500 for each share.
ARTICLEv.
In case any stakeholder shall neglect or refuse
to pay his weekly instalMents as often as the
same shall be payable, such stoc khOlder SO neglect
ing or refusing shall forfeit and pay for each
glect or refusal, an additional OF five cents
| for each share of stock by him held. Any stock
holder, having effected loan his stock who
eaen for whcs s
celved loan, shall pay An additional sum of five
cents on each share on which II loan has been eff
fected Each and every weekly refusal or neglect
to pay his insament interest. shall be charged
to his account. These fines may be avoided by
paying in advance for certain time during which
period, it being covered by prepay ment no fines
can be levied.
ARTICLE VI
Each stoc kholder for each share of stock that
he may hold in the association shall be entitled to
receive from The funds of the association loan Of
funds III the treasury shall warrant, more
loans shall be disposed OF to the stOckhOdeF offer
| ing the highest voluntary premium. in such
ner as the Board of Directors may determine.
Should he SO wish, any stakeholder having a pin
rality Of shares by making the same known at the
time Of offering. shall be entitled to succeeding
loans offered at that time, at the same premium
per loan to the full amount his shares enttle him
provided he shall not receive more than IT0 loan
on each share No ckholder shall be entitled to
loan on more than thirty shares: No ckholder
shall be entitled 10 loan who is in arrears to the
association Stockholders taking loans shall pay
interest thereon ION nominal loan) by weekly pay
ments at the rate OF eight per centum per aunumS
ARTICLE VII
Whenever q stool holder shall be declared emit
tied 10 loan loans. he shall allow to be de-
Quoted the premium offered by him for the same
and before receiving the same he shall eecure the
payment thereof to the association by act Of mort
gage and transfer of policy of fire insurance to the
association, ana if there be any due receipt for
paid up State parish and municipal taxes. In case
of failure to give satisfactory security for such
loan within three months from the date of pur-
chase. the interest, together with all costs and
charges or expenses attending the examination of
titles and searches shall be charged to such pur-
chaser, and the money revert back to the associs-
ton.
Stockholders having taken loan and wishing
TO withdraw from the association shall be entitled
TO receive from the treasurer the amount of dues
actually paid in by them, first deducting all fines
and forfetures and portion Of all losses incurred,
Any stockholder having taken one or more loans
provided he shall have repaid said loan. which h,
may do at any time; and III case of the repayment
thereof before the expiration of the twelfth year
after the organization of this association, there
shall be refunded to said borrower one-twelfth of
the premium paid for every of the said twelve
years then unexpired. Stockholders having taken
loans will also be permitted to withdraw from tho
association, provided they shall have sold all their
interest in the real estate together with all thei,
interest in the association, and that their vendes
in such sales shall have applied to, and by vote
VI NAVY ~ tJ oaIu vi plec.oIs ., shsii nave
association, and substituted for and admitted to
her in and tn HE same nrovided nIwaTs tn
storh bolders ,aishiur IN w,th1ray shall n;ya &C
months notice to tina Board Of Directors such
nor rrc.iv.J q loan or Ioans Lis be;ra or ,agai
representatives, wishing to withdraw, shall be en-.
titled to receive from the association such dee
ceased members fun interest thereon frat de-
ductins his fine. and araes and his nortion -
nsses snst.ined "n' anu HIS poi'on .,
ARTICLE TX.
,f,b. ;,tsras, rer,,ips ,,,.;d Tor ann -oa, &C.,
hnard Of D,rectors MAJ cnmnel nav,nan 80 -, ~.
,,;nciroi and intarss1 Of a,r 10, RS d; Va LIZ
deedings TO he Insitufed on the bond and mnrfgpro
accord7ng T., law In Ills casa ~ racnTarS
inans hv law All Gnes forf.itmras iosaes intaya.
nr,nc;nsl and IagaI cosGe shaI 70 sosd ;
rbargiS 70 tho n,Ttv cousirr ell o,'reo Of Pti az
a. r. nnyaned Nv The asscpjation and IL TO
amount Ttgore,, 4 .vrrrT th. rnII';,ai lon 49,
,nt,f.sl f,r.La.uc sr'I loan s,,scd a.
no., .5!, IN 81, a,z." tLa d.r,,iti,r 80 80
en-. 40. - - 'r,t - -, "a -, "a
:, 49,. a. 20. t 80 80 II ,,j o..
ana Gra. ~ inc gnsrS a. one yrSr aif"b ltors
Ii,,r So. .,,, ,,r ,f,,s,,, if, an a +, 80,
80 "l Tt'aslhs snat. LeGilV" rom
oy him without any allowance for interest frs.
all fines and forfeitures that may bso
charged against him and also a portion of ali tho
losses incurred, and from that time cease to be a
me mbe9 OF the association.
ARTICLE <.
All the corporate powers of this Association shs'
be managed and exercised by a Board of Directors
to consist OF thirteen stockholders, and ajority
acton Cf business.
AhIlCLE III
The following named gent emen shall constitute
the first Board of Directors, who shall hod their
office until the second Monday of January lg1i or
until their successors shall be duly elected and
Thomas C. Walsh, f. NJ Birmingham John Nc
Catirey. John J. Finney. =. +. Curley Martin A.
Allcyn, J. b. MahOney, Or. 4. r. Sheppard. Thomas
McKendrck, r A. Finney, A. Leo and ]. T. A.