The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1873-10-18
NUMBER 80.
Laws Of the State Of louisiana.
Published by Authority.
No. I07. AN ACT

other purposes.
BE it enacted by the Senate and the
House of Representatives of the State
of Louisiana in General Assembly
convened. That Z. Kenny; s. A. Ham
ilten. t. C.. Antoine, William Harper,
A. f. Huff. James L Thompson. Geo.
L. Smith, H. b. Morse, Frank It.
Hatch. and N. \. Walch, and their
succe ssors and assigns are hereby
created body polite and corparate,
under the name and title of the Shreve-
port Swings Banks and Trust Compa-
ny, with the powers and privileges of
doing general banking business
under and pursuant TO the general
laws now in force, and also with the
rights, and powers and privileges as
set forth in the following articles:
ARTICLE i.
The name and title of the said cor
poratiou shall be the Shreveport Saw
ings Banks and Trust Company, and
its, d"nicile shall be in the eitv of
Shreveport, with the privileges of Gre
atiug a branch or branches in New Or
leans "r elsewhere in this Slatr, as the
board of directors may determine, and
shall exist for the term of fifty years
from the passage of this act 1t shall
have power to contract. sue and be
sued. To hold and, receive purchase,
convey, mortgage and receive on mort
gage, pledge and receive in pledge
property, both real and PERSONAL: 10
make and use Il common seal. TO name
aud appoint such managers. directors
aud officers as its interests may re-
quIrr. and to create and establish
proper bylaws and rules for te reru-
letium and management of the affairs
of the company.
ARTICLE II.
This corporation is hereby authoriz
ed and empowered to receive on depos-
it from ali persons money in all sums
from ten cents and upward, and to pay
out the same by check or otherwise,
and also 90 receive from minors with
out the authorization of parents or
tutor, and from married women with
out the authorization Of their husbands:
also, tu receive for safe keeping valu-
ables. of all kinds, an to rent safes for
the purpose of keeping valuables.
Deposits shall draw interest at the rate
of six per centum per annum, and the
interest shall be placed to the credit of
the depositors on the first day of Janu-
ary and July of each year. A higher
rate of interest may be paid by special
agreement.
ARTICLEIu.
For the security of the depositors in
this bank all money therein deposited
shall be invested only in first mortgage
on real estate in the State of Louisiana,
in stocks and bonds of corporations OF
the State Of Louisiana, or upon pledge
of such stocks and bonds, or on pledge
of United tates bonds, bullion, silver
plate and diamonds, but no loans shall
be made for longer period than one
year, or upon property thatis not worth
une-third more than the amount loaned
thereon, and at rate of interest not
exceeding seven per cent Il month.
Other funds of the bank may be loan
I'd in the same way at the same rate of
interest.
ARTICLE ".
To facilitate the loaning of money as
specified in article three, full authori-
ty is hereby given to execute and issue
certificates Of pledge upon all kinds of
movable property. and t. do and per.
form every act and thing pertaining to
the loaning of money upon security of
pledge.
ARTICLE v,
The capital stock shall be one hun
dred thousand dollars. divided into
one thousand shares of one hundred
dollars each. and the same may be in
creased to one million dollars by vote
of two-thirds of the stock.
AETICLE vi.
Upon the organization of the bark,
subscribers to the stock shall pay into
the hands of the cashier twenty dollars
upon each share subscriber. Assess
ment on the stock shall be made there
after at such time a. the directors may
determine, but no assessment shall be
made of oveI ten dollars per share, or
at intervals of less than sixty days.
Stock on which any assessment has
been due and unpaid for sixty days
may. after personal notice has been
given to the owner, be sold, and the
proceeds applied 10 paying the assess
ment.
ARTICLE VII.
The following persons, namely, E.
Kenney. 5. A. Hamilton. C.. G.. An
tome, William Harper, E. A. Huff,
James l.. Thompson, George l.. Smith,
II. Y. Morse, Frank T. Hatch and NJ.
A. Walch, are hereby constituted the
first board of directors. in whom, and
their successors, are vested all the
corporate powers Of this corporation.
They shall hold their office until the
first Mondy in May, 1874. On the
second Monday in April, 1874, and an
nually thereafter. there shall be elect
/ ed seven directors by majority of the
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