New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-07-27
CORPORATIONS.
CHARTks' w ''''''''ch"NiL'
~ ATE OF ,or1slANA-CITY OF NEW ORLEANS.

OF an act of tire Legislature Of this State, entitled
ing in the State of Louisiana" approved on the ff-
teenth day Of March, 1855, and OF several acts
amendatory thereof al! OF WHICH acts are nceapo,
715 and following, they have agreed, and DO oE
these presents agree and bid themse.ves' ana
them 10 form themselves IEto and constitute
corporation for the objects and purposes and under
the stipula:iOns and equations following, 10 WI:
ARTICLE l.
The name Of this association shall be the
''HOME MUTUAL SAVINGS BANK" It's CORPORATE
existence shall commence on the present day,
and il shall continue for perIod oi twenty wears
from the date hereof
ARTICLE II:
The object Of this association is to establish a
eayncs institution and bank OF deposit anu us
tuuut where sums of money, whether large OF
small NAV be deposited for safe keeping and acci'
mutation and where the deposltcrs, III aodlIion "
such interest as may be agreed upon. span palu.r
pate 10 the profits Of the association as
S''p'-"'a' ARTICLE III.
This association shall further have the power to
wake and negotiate loans, discount bills. notes
and other evidences of debt. receive deposits Day
and sell real estate gold and silver com buihon
and bills of exchange, loan money on real anu peg
sonal security and exercise al. incidental powers
necessary 20 carry on the business ahd the pnt.
pose above meLt oned, and such StheI powers As
are now OF may hereafter pe eonle1ieo W -" VI
banking corporations.
ARTICLE ".
The place where the banking bssiness OF this
association shal! be carried on and its !egai DOM.
Gle sla be IL the city of New Orleat S, IN the
parieh o: Orleans. in this State; but branches may
be established in any city or town OF TINS sta.e as
NAV be deemed eXpedient by the Board OF Irlis-
tees and uuder such rules and regulations as they
may decide upon.
The capital stock Of this association shall be one
hundred thousand dollars, divided into one thou
sand shares of one hundred dollars each, when
said shares shall be paid for III the manner follow
inc VIZ: ten per cen. at the time of subscribing,
%lN3 md N
per cent each of the amount OF each SUBSCRIPTION.
payable one, two three four i've sX, seven, eie1I
and nine months after their date. The STOCK slan
be held by the in pledge AS curlty Tor
and until the payment of all balances due on the
same and no stock subscrlpti ion to stock snail
ha sa,eabIe or transferable unless It shall have
been paid in full; ard the Board OF iruslets shah
have the right Of causing 10 pe sola ~ Rdone ho
shall fail to pay their stock notes or any OF them
such sales be for account and at the risk OF such
DELINQUENT stockholders.
ARTICLE VI.
TIL. rirbt IN increase the capital stock Of this
,ustitution tc five hundred thousand dollars IS re-
served said increase when made shall De Id series OF
one hundred thousand dollars each, and when sucn
increases are made the original subscribers who
vet hold their stock shall have the first privilege
of subscribing to the new stock NO new series OF
stock shall be issued until the previous issue OF
stock shall have been taken up and DIVIDEND
from the profits of the business OF the institution
made and declared.
ARTICLE VII.
The hank shall commence active banking opera
tions whenever deemed advisable by the b'ald OF
Trustees. , ,,,,,
The affairs Of this association shall be adm nis-
tered by a Board of Trustees consisting OF eleven
stockholders of this association BIZ OF whom shal
coustitute quorum. The following persons snail
Constitute the first Board of Trustees Joseph Ray
mond Joseph Keller Eugene Doherty L. B. Collins
Paul Esteben, Nicholas Miller j. e. Murphy, b. 4.
Tayior I W Patton c. T. Lauman, n. 4. Wilcox,
and they shall serve until their successors are
elected and qualified as hereinafter PROVIDED lof
z
On the second Wednesday in December, 1874 and
annually thereafter, on the same day an eectloh
Of nine trustees shall be held by the Stockholders
at the banking house OF TINS t tb .ne
and then given shall elect Previous notce OF al
least thirty days of said election shall be gwen IN
OF least two newspapers published III new orieans'
ARTICLE X.
Tba aenositor, in this institution shall have the
privilege of nominating and electing two OF the
members of the Board of Trustees to be eected
m the second Wednesday in December, 1874, and OF
eyery board and said mem beers shall look
sneciay to he interest of the depOstors and snail
Hold in their own name not less than ten shares OF
TIC can,tal stock of this association. The nomina
tions shall be made one msnth PRIOR TO SAID elec'
tions. In order TO have a voice IN said eiectons de
nositors must have in the bank not less than one
hundred dollars. which must have been on deposit
at least six months previous to said electisns and
each depositor shall have one vote Tor each and
every hundred dollars which shall have been on
deposit to his credit for not less than SIX months
previous to said elections; II the depositoIs IAN 10
na,os the two members of the board shall be
elected by the members who shall have been elect
ed by the stockholders.
ARTICLE y1
The BOARD of Trustees shall, at their first meet
ing elect of their number a president anu Two
wee presidents, and majority OF the votes OF the
These officers shall perform such duties and re-
ceiye such remuneration for their serv ices as the
Board of Trustees may stipulate IN the bylaws Oh
the association. o,r,,
The Board OF Trustees shall have fulI power 10
make by lave, appoint all ofhcers OF ms associa
he made annually. and be held subject to removal
at the pleasure OF the board. They shall nix the
secu,ity to be given by the officers respectively.
They NAV also change the bylaws whenever the
interests of the ASSOCIATION demand 1t. and appoint
agents within and ont OF tnT S'a Thev sha also
have power to fill any vacancies 1hat may occur ~
the board. ,,r,c,p VII,
The Board OF Trustees may declare a dividend
annually or ottener as the profits of the business
NAV Justify; at each and every time of dec airing
a sat id. as declared dividend to the depos
tors OF the bank to he paid to them IN proportion
their balances and the time INA. Inc sd rst dv
dend has been declared, d.positors, 10 paliGlpa,e
jn said twenty per cent of subsequent diViaends'
must have had their money on deposit at ieast
three months previous 10 the declaring OF said
dividend .,,,.
The Board of Trustees may declare vacancies N
It's body in consequence of the death resignation,
detaication OF absence without leave i"r ninety
Gays consecutively, of any OF IT'S mem serA
ARTICLE XIV.
Every transfer of any, share or shares OF the
can't al stock shall be made on tae DOCKS OF the as
sociation and shall be signed by the stockhoideI.
or his OF her attorney; but no stakeholder shai'
have the right to transfer his or her stock unless
the same is paid for i'll full, and | OF his or her
matured obligat to he bank have been paid or
secured to the satisfaction of the Board Q: lrus'
tees. , ,,
The Board OF Trustees may close the transiei
hooks as often as convenience may require, DIV
for longer than ten consecutive Gay .. any one
time ,,r,,,,
Tho failure from any caure to elect trustees on
.he day named for that purpose snail not dissolve
This association; the trustees then IN ONCE shall
he'd over but it shall be their duty 10 appoint an
other day for such election, notice OF winch shaii
be given as herein provided for, and the same pro,
Gas shall be continued until the election shall
nave 0eeA n'i' ARTICLE XVIII.
rxerv shareholder shall be entitled directly or
Wv proxy at all elections for trustees OF On any
matter at any meeting of the stockholders 10 one
vote upon each share; provided tha' aler .ne u, 81
election he shall have owned the stock al least
three months prior to said election or time OF 'o'-
ing. ,y,y
Fyerr election of trustees of this association
shall be by ballot and conducted by three commits $,
s;cners or inspectors to be appointed by TIE board
At least two days previous to said election.
ARTICLE Xxx.
Anajority of all the trustees elected may pro-
vis!oualy accept addit onal power or privilege
that may be hereafter conferred OF this assocla-
tlon either by amendment of the laws under which
il was formed, or BY any new law or enactment,
but the final adoption and acceptance Of such addl-
tiona powers or privileges shall be determined by
vote of the stockholders in the manner pro-
yded by law.
ARTICLE XXI.
The president and cashier shall sign all contracts
notice certificates of stock and evidences OF debt