New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-10-05
CORPORATIONS.
QUARTER.
I En-. ....CHARTKR
STATE or LOUISIANA
fAhlsh OF ORLEANS, CITY OF NEW ORLEANS.

hundred and sever tythrae nI o i,9ust:u elt,n
aehoe OF sne United States of America the ninety
| elshth before me, william Joseph CastelI a notary
| public in and for he parish Of Orleans Stata -,
Louisiana duly commissioned and qualified, and in
the presence OF the witnesses hereinafter named
and undersigned, personally came and annearaS
| the parties whose names are hereuutO subscribed
VINO declared that avaing themselves of the
! PROVISIONS of the statutes of Louisiana rela
tive TO the organization of corporations
in this State, they covenant, agree aad bind
| become members Of this corporation, to form them
| selves into and constitute "a corporation for thu
| objects and purposes and under the stipuatous
| following, to wit:
That the name. style and title of this corpora on
| shall be THE NEW ORLEANS HOMESTEAD ASSO-
| CITATION. 1t shall be domiciled in the city OF New
| Orleans and have and enjoy succession in its
| porate name tor twelve Years. 1t may sue and be
sued and the president OF the association is desg
| mated as the officer upon when citation shall be
| served.
ARTICLE H.
Its object shall be the accumulation and disburse-
lnent OF fund sufficient to enable the stockholders
to build or purchase for themselves, such real es-
tate within the city of New Orleans, and also that
o! oaIr"i!Ion. as they may deem advanta geous
ARTICLE III.
TIE members of this association must be resi-
dents OF Louisiana. Minors may hold stock
through their tutors. and women i'll their own
right.
ARTICLE ".
The capital stock of this association shall be
i've hundred thousand dollars divided into 25OO
shares. of 5000 each The stock shall be paid AZ
follows: A first payment of fifty cents on each
share and every succeeding week thereafter u
payment OF twenty-five cents each share; this
method of paying to continue until the sum pad
in by insiallmens, with all profits added thereto
shall amount &c 300 Tor each share.
ARTICLE v.
In case any stakeholder shall neglect or refuse
20 pay his weekly installments often as the
ing reilIsn NJ shall forfeit and paw for each nee
eject or refusal, an additional cum Of five cents
for each share of stock by him held. ANY stock
holder having effected loan his stock, who
shall neglect or refuse to pay the weekly portion
OF the interest on each share for which he has re-
feived u loan, shall pay an additional sum of five
cents on each share on which loan has been eff
teeted Each and every weekly refusal or neglect
to pay his iustailment or interest shall be charged
to his account These fines may be avoided by
paying in advance for a certain time. during which
period 1t being covered by a prepayment, no fines
ARTICLE VI
Each stakeholder, for each share of stock that
he may hold in the association shall be entitled TO
receive from the funds of the associations loan of
62Oo-isss the premium offered. Whenever the
fund.- i'll the treasury shall warrant, one more
loans shall ,e disposed OF to the stakeholder offer
ing the highest voluntary premium in such man
ner as tho Board of Directors may determine,
Should he wish. any stakeholder having a pin
Tality Of shares, by making the same known at the
time of offering. shall be entitled to succeeding
loans. offered at that time, at the premiums
per loan, 10 the full amount his shares enttle him.
provided he shall not receive more than 10 loan
or each share. No stakeholder shall be entitled to-
StGckHOldeE
shall be entitled to a oan who is in arrears to the
associati ion. Stock holders taking loans shall paw
interest thereon I"n nominal loan by weekly pay
nents, at the rate OF wight per centum per annuLo
ARTICLE VII.
Whenever u stockholdeF shall be declared ensi-
tied TO loan loans. he shall allow to be de-
Quoted the premium offered by him for the same.
and before receiving the same ne shall secure the
payment thereof TO the association by act of mort
gage and transfer OF policy of fire insurance to tha
association, and If there be any due, receipt fox
paid up State parish and municipal taxes In
of failure to give satisfactory security for such
loan within three hths from the date of pup
chase, ,he interest together with all costs ana
charges expenses attending the examination 0e
It'll. and searches shall be charged 20 such pug
chaser. ana ths money revert back to the asSocSS
ton.
ARTICLE VIII
Stockholders having taken no loan and wishing
to withdraw from the associations shall be entile@
TO c.iy. from the treasurer the amount of due8
actual paid in by them, first detfucting all fines
ard iari.tures and portion of all losses ncurSed
ANY .tockho!dey having taken more loans
desiring 10 withdraw will be permitted to do so,
provided he shah have repaid said loan, which lss
may do at any flnl.. and Ill case OF the repavmenS
thereof before the expiration of the twelfth yeaP
aztec the organization OF tins association there
shall b. refunded to id borrower one-twelfth on
the pEt'nlui oad i"r every one OF the said twelve
years then 2iItd. Stockholders having taken
loans viii also he permitted to withdraw from tiss
association provided they shall have sold all theiS
interest ia 'hc real estate together with all the*
lnteres: in the association, and that their vendes
III such sales shall have applied to, and by vote
OF minority OF the Board OF Directors, shall have
been admitted aud approved a member of the
association ana substituted for and admitted tW
all the rights ana liabilities OF the .etiring meme
Der Ia and to the same; provided always, thaS
stockholders wishing L, " thdraw shall civ. ono
months notice 10 thu Board OF Directors OF sucls
intention Upon the death OF Il member who haT
not received a loan o. loans, his heirs Legal
representatives wishing to withdraw shall be
tttd 70 feceiFe noin the association such dee
ceased members fun interest thereon, first d.
ductns h's fines ana arrearages and his portion Of
AETlCLE *.
II IN" interest remains unpaid for yeas, Giro
Board of Directors may compel payment OF the
principal and stersst Ot any loan by Ordcring pre-
cetdingo t" be- instituted on the bond and mortgage
according - law. IN this sas. of recovery Vt
loans 10y law all fines, :oreitUres, losses, interest.
principal and legal vests shall be footed up an,I
charged to the parry causing such course of actios
to b" pursued by the association, and if the
am"u1' r"corei"G exceed the nominal loan and
in:cSiat i9s Sl4e Tune sG.. loan was used. the
:es s.sil 's,s v'n th" 'ieta.,in: par't. 1n..
"ns 5Sr's '',r; .atot ba"lug 'ak.u 20. shai
ne.,t9t 70. letuo 90 ~ 10 SEE Ky uI,ta!..e.
ana a. TO- the 5gao. eel ono yt.r. su,' 500
c',iu. So d. tU. o. .efIls ne" Rh.u Ig.g .. s..
-. treasurer ths ..mnltrt o. dues actually PAD
10y HIM, without any e's%aL-e fol lot .est.i..
dedusling al! iines ans forfetures that may b.
charged against bun. and also portion OF all the
Ioss"s incurred, and frop tina. time to Ie ..
Ins bes OF the sissociations
ARTICLE 10
All the corporate powers Of this Association sia:
be managed and exercised by Board of Directors
to consist OF thirteen stock holders and ma or!ty
of whom shall constitute quorum for the sr;.ha.
AETICLB 81.
THE following named gentlemen shall constitute
the first Board o! Directors who shall. Lord thes
Office until the second Monday Of January, 1874 .r
until theiS successors shall be duly elected and
qualified as biTe ctoIs; Messrs. Edward Sweeney.
Thomas G.. Walsh. L. Ne Birmingham. John Nc.
Ansyn. ,. b, Mahobev, Dr.. E. 7. leopard. Thomas
Me kendrick. IT, 40 FInneys d. Leo and J. 7. a.
% M"a!le.
ON the second Hsniay of Januars, 1914 and M.
nually thereafter, election for directors by th..
Stockholders of 20 association shall be held at the
Office %. the sad ASSOCIATION; and a plural!tv.s
woes, counting one vote 3Jr each share of stoes
vot.. ou ehall b- .uteien: to elect: and at THE
meeting detailed shist OF the transactions Of
this associations iO'r he year proceeding shall b"
su united to tho stockholders. failure to eles.
he dav aforesaid shall not dssoiv. the 4ssocia.
ton, but TIE president shall cause another election
to b- held Nithin shirts DAYS thereafter. giving
in English IN Nav Orleans. The Board of Dlrec.sr.
.ha ] have power 30 supply any vacancy that inaP
oc'u' ia 'hss bud. by seatia. resignation ss 't!.s.
VS.. .ou,c,r VIII,
Al' iron FER ~ -,,es snal; DE maze ~ the soofA
Of !le Assosi4t OK IN person or. By proxy but nos
e lt- sIy ind. b'ele 60 She association exists
.:4s-ss eit eis seat Of the Boar! Oi DIRECTORS.
s.riC4E XIV.
y. ;ncSl".sl s..iH III any eveHs h. made .iabiS
BE- ,ou.l the .ui,o1t - he subscription to the cat.
=. "ck ~ No s.,sstU5i Sr Sis Indebtedness 10
Tie o.'n"o ..
L... o.spt hs o,r= 90 The association n. general
o.. ctlGg, r1.'u'd 'Ar chat purpose by the B0artr
- Il. oGt.rs By ~ president at the written 10,
qt.s "t uUS.l stockholders, after thirty days
% 90 'a 'Dily ne" zpaper published IN English
~ i'- sl'S ot a. creams, may make anJ msdIf-
oot. oai ol-oaa and change IN this act of neors
lo5T',pS 90 81 o. ~! slth the assent Of the repre-
81 'Is' o 800 ''ee toerths of the to al stock ssi~
e lto
hESiCLE XVI.
o 70 ~ ., or 4 the chartey 90 soone, if .'s
s,o, ur pea gp tha tifairs Of the association shall
=
b Vii'd Pro rate among the Stockholders, on 'hS
H''il' hr'd ty each # paid up stock under she
~