New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-07-06
CORPORATIONS.


." ''''''.. .........CHARTER
"iATS OF LoUIslANA-ClrY OF NEW ORLEANS
,n Be It known that on this thirtieth dav ., Inn
ne thousand eight hundred and sevey, ,bra.
u n,Ufe me, William Nee. JONES' notsrx ny hii -
Louisiana, aforesaid, duIv c"n Urtsans state o.
sMoln, personally came and Appeared ths 49,; az !.
c,arsS ma, lanes are hereunto subscribed who de-
~ " mat awaiting themselves of fine nror;, ;o, .
"a an act OF the Legislature OF this STATE .ntI..
act TO establish general system of fre. hI
teenfh day of March, 1855. and nf g. vi tne n,
amendatory thereof all of which acts ar oaa ac.s
Is and f,n statutes of this State section
h ose presents agree and bind themselves ard
thu VINO may hereafter become assoc teJ win
c n1,i, 10 1orln themselves INTO and cousti,n-e ;:
corporation for the objects and purposes and nrdr
'Ao s'puialiols and regulations following, 20 WIT:
ARTICLEL
..u me name Of this association shall be a..
BONE MUTUAL SAVINGS BANK" its cornora- !.
s'ence shalI commence the pI.senr dav
and II shall continue for period OF iw.ytv xesis
from the date hereof '"''
ARTICLE II.
the object of this association 10 TO establish a
eavhgs institution and bank Of deposit and dis
count, where sums of money whether lac or
small may be deposited for safe keeping ard accn.
snah and where the depostors in addition 20
euch interest as may be agreed upon snail pArtic
pate IA the profits OF the association Hereinafter
This association shall further have the mower r.
make and negotiate loans discount bills notes
and other evidences of debt, receive deposits buy
ana seu real estate, gold and silver coin bullion
and bills of exchange loan money on reai and rer
sonal security and exercise all incidental powers
necessary 10 carry On the business and the pur.
pose above mentioned, aud such other powers as
are now or may hereafter he conferred by law Oh
banking corporations.
ARTICLE w.
The place where the banking business of this
association shall be carried ON and i,s legal dom.
clie shall be in the city of New OreaLs in the
parish of Orleans. in this State; but branches NAV
De established in any city or town Of this State.
may be deemed expedient by the Board of Trus-
tees and uuder such rules and regulations as they
may oeeiae upon ART1c1Ey
The capital stock of this association shall be one
hundred thousand dollars divided into one thou
sand shares Of one hundred dollars each, which
SAID shares shall be paid for IN the manner follow
ing, viz ten per cen: at the time Of subscribing
and the remainder in nine notes of sum Of ten
per cent each OF the amount OF each subscription,
payable one two, three, four, five, six, seven eight
and Line months after their date. The stock shall
be held by the association in pledge security for
and until the ayment Of all balances due OIL the
same; and no stock, subscription to stock, shall
be saleable or transferable unless It shall nave
been paid in FULL and the Board of Trustees shall
have the right of causing to be sold at public
tion the shares of stock Of all stockholders who
shall fail to pay their stock notes any OF them,
such sales to be for and at the risk Of such
delinquent stockholders
ARTICLE VI.
The right to increase the capital stock Of This
served said increase when made shall be series of
one hundred thousand dollars EACH and when such
vet hold their stock, shall have the first privilege
Aof subscribing to The new stock. No series Of
stock shall be issued until the previous issue Of
stock shall have been taken up and a dividend
from the profits of the business of the Institution
made and declared
ARTICLE VII.
The bank shall commence active banking opera.
tons whenever deemed advisable by the L, ard of
ARTICLE VIII.
The affairs of this association shall be admins.
stockholders of this association six OF whom shall
constitute a quorum. The following persons shah
mond Joseph Keller, Eugene Doherty L. B. Collins,
Paul Esteben. Nicholas Miller, j. c. Murphy, B. E.
Taylor, l. W. Patton, c. F. Lauman, N. a. Wilcox.
and they shall serve until their successors are
elected and qualified as hereinafter provided for.
ARTICLE TX.
On the second Wednesday in December 1874 and
sanualiy thereafter on the same day an election
ut the banking house OF this association, il the
city Of New Orleans. majority Of the votes there
least thirty days OF said election shall be given in
at least two newspapers published in New Orleans.
ARTICLEX X.
The depositors in this institution shall have the
privilege of nominating and elecfins two OF the
members of the Board of Trustees, to be elected
on the second Wednesday in December 1874, and of
every succeeding board and said member shall look
hold in their own not less than ten shares of
the capital stock of this association. The nomina
tions shall be made one month prior to said cleo.
TONS In order to have voice in said elections de.
positors must have i'll the bank not less than one
hundred dollars, which must have been on deposit
Mt least six months previous to said elections and
each depositor shall have one vote each and
every hundred dollars which shall have been on
depost to his credit for not less than six months
previous to said elections; if the depOstOIs fail to
avail themselves of this privilege at said regular
elections the two members OF the board shall be
Tho nhora yEh
ed by the stockholders.
ARTICLE XII
The Board of Trustees shall, at their first meet
Ing, elect Of their number president and two
wee presdeEts and ma Ority of the votes OF the
whole board shall be necessary to an election. |
These officers shall perform such duties and re.
ceiye such remuneration for their services as the
Board of Trustees may stipulate IN the bylaws OF
the association. ,v,, |
The Board of Trustees shal have full power 20 |
make by laws appoint all officers OF this associa.
ton and fix their salaries. Said appointments shall
he t made S the Thy shall fix
security to be given by the officers respectively.
They may also change the bylaws, ~ whenever tne
agents. within and out of the State, under rules
to be prescribed by the board. They shall also |
have power to fill any vacancies that may occur al
'A' ''"'1' ARTICLE XIII.
The Board of Trustees may declare dividend |
NAV Justify; at each and every time of declaring |
dividend, twenty per cent OF the net pTohts shall
be set aside and declared q dividend 10 the 0eposl-
tors of the bank to be paid to them IN proportion
TO their balances and the time that the same nave
been on deposit; provided that at er the hret divi
dend has been d. clared depOsitors to participate
i'm said twenty per cent of subsequent dividends,
must have had their money on deposit AT 'east
three. months previous TO the declaring OF SAID
dividend WV,
The Board of Trustees may declare vacancies il
tia body i'm consequence of the death, resignation.
or absence without leaSe lSr ninety
days cOpsecutively, of any OF It's mem peTs.
ARTICLE XIV.
Every transfer of any share or shares of the
capita stock shall be made the books OF the as
sociaton and shall be signed by the stockholder;
have the right to transfer his her stock unless
the same is paid for in full. and all OF his OF her
matured obligations to the bank have been paId or
secured to the satisfacuoh OF 'he po"io o' ''"S
''''' ARTICLE xvr
The Board of Trustees may close the transfer
books al often 40 convenience may require, but
for no longer than ten consecutive days at any one
time. n,,vy,,
The failure from any caure to elect trustees on
che day named for that purpose shall not dissolve
this assOciatiOn the trustees then IN once shali |
hold over but it shall be their duty to appoint an
other day for such election notice Q, n, ~s,Sn sr
cess shall be continued until the eiectoh sLah
n"'o '''- ARTICLE XVIII.
Eyery shareholder shall be entitled directly Or
l.V proxy a all elections for trustees. or on any
matter at any meeting of the stockhoders 10 one
vote upon each share PROVIDED that alieL .ne nls.
election he shall have owned the stock al ieast |
three months prior to said election or time OF sot'
ing. cn,,,,yrv
Every election of trustees of this association
shall be by ballot and conducted by three coninfs,
,iOuers or inspectors to be appointed by tine board
at least two days previous to said election.