New Orleans Republican., 1873-07-20
CORPORATIONS,
4 (tHARTER............. .........CHARTER
STATE OF LoUISIANA-CIrY OF NEW ORLEANS.


whose names are hereuDtO subscribed who de-
clared that, availing themselves Of the provisions
Oi act of the Legislature Of this State entitled
AN act 70 establish general system of free bank
ang in the state Of Louisiana" approved on the f-
Geenth day Of March, 1855, and OF several acts
amendatoIy thereof all of which acts incorpo-
rated II the Revised Statutes of this State sections
20 and following, they have agreed, and do by
these presents agree and bind themselves. and
those who may hereafter become associated with
them, 20 iolm themselves INTO and constitute a
corporation for the objects and purposes and under
the StIpulatlOns and regulations following, 20 wit:
ARTICLE /.
The name OF this association shal! be the
"HOME MUTUAL SAVINGS BANK" It's corporate
existence shall commence on the present day,
and II shall continue for period OF twenty yeal 5
9yon The date hereof.
ARTICLE II.
The object Of this association 10 10 establish q
eavings institution and bank of deposit and dis
count, where sums of money whether large or
email may be deposited iol safe keeping and accu-
mulat on and where the depositOrs, III addition TO
suc inter. st may be agreed lpon sna partici.
pate IN the pTohts OF the association as hereinafter
ARTICLE H.
This association snail further have the power 70
make and negotiate loaLs, discount, bills; notes
aud other evidences of debt receive deposits, buy
and sell real estate, gold and silver coin. bullion
and bills of exchange, loan money real and per
soDal security and exercise al incidental powers
necessary TO carry the business and the pur-
pose above mentioned, and such other powers as
are may hereafter be conferred by law on
banking corporations
ARTICLE ".
The place where the baking besness of this
association shall be carried and its legal dOmi-
CIe shall be III the city OF New Orleans, in the
be estab> he'd in anv city town Of this State as
may be deemed expedient by the Board Of Trus-
tees and under such rules aid 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, which
said shares shall be paid for IN the manner follow
ing viz: ten per cent at the tine Of subscribing,
and the remainder in nine notes of a sum of ten
per cent each of the amount OF each subscription,
and nine months after their date. The stock shall
be held by the association in pledge as security for
and until the payment Of all balances due on the
same; and no stock, subscription to stock shall
be sileabe transferable unless 1t shall have
been paid in full; and the Board OF Trustees shall
have the right of causing to be sold at public auc-
ton the shares of stock OF all stockholders who
shall fail pay their stock notes or any of them,
such sales to be for account and az the risk OF such
delinquent stockholders
ARTICLE VI.
The right 70 increase the capital stock Of this
institution tc five hundred Thousand d ollars is
seryed said increase When made shall be in series of
one hundred Thousand dollars each, and when such
increases made the original subscribers, who
yet 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 !ssne of
stock shall have been taken up and dividend
from the rrOutS O1 Uut UUbluths Va kue
made and declared.
ARTICLE VII.
The bank shall commence active banking opera
tons whenever deemed advisable by the Board OF
Trustees. WV,
The affairs Of this association shall be admins
tered by a Board OF Trustees consisting of eleven
stockholders of this association, six OF whom shall
consttute a quorum. The following persons shall
constitute the first Board OF Trustees: Joseph Ray
mond, Joseph Keller; Eugene DoheTty L. B. Collins
PauI Esteben. Nicholas Miller, j. c. Murphy, B. Z.
Tavior l. W. Patton c. +. Lauman n. 4. 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
annually thereafter, on the same day. al election
OF nine trustees shall be held by the stockholders
at the banking house Of this association, il the
a,ity of New Orleans. ma ajOrty Of the votes there
and then given shall elect. Previous notice of at
least thirty days of said election shall be given in
at least two newspapers pnbiished N new orleans.
ARTICLE X.
The depostors in this institution shall have the
privilege of nominating and electing two of the
members of the Board of Trustees to be elected
on the secoud Wednesday in December, 1874, and OF
eyery So ceeding board and said members shallook
specay to the interest of the iePositors and shall
hold in their name not less than ten shares OF
the capital stock OF this ASSOCIATION: Ihe nomina
tions In order to have voice IN said elections de-
positors must have in the bank not less than one
fnndred dollars which must have been on deposit
t least six months previous to said elections; and
each depositor shall have one vote Tor each and
every hundred dollars which shall have been on
sepOst 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
elected by the members who shall have been elect
ed by the stockholders.
ARTICLE XL
The Board of Trustees shall, at their first meet
ing elect of their number M So. ana o. t%o ,h
whole board shall be necessary TO an election.
These officers shall perform such duties and re-
seive such remuneration for their services as the
Board of Trustees may stipuate IN the bylaws OF
the association.
The Board of Trustees shall have full power TO
make by laws appoint all officers OF this associa.
iion and fl their salaries. Said appointments shall
he made annually. and be held subject to removal
at the pleasure Of the board. They shall nx the
security to be given by the officers respectively
They may also change the bylaws Whenever the
interests of the association demand H. an9 appoint
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 IN
She board.
The Board of Trustees NAV declare dividend
annually or ottener the prOfits of the business
may justify; at each and every time OF aeciarg arg
dividend twenty per cent OF the net prOnts sha!
be set aside an d declared dividend to the deposi
tors of the bank to be paid to them in proportion
been on deposit: provided that after the first dv
slend has been declared, depostors to participate
i'll said twenty per cent OF subsequent dVluehus
must have had their money on deposit at least
three months previous TO the declaring OF SAID
dividend.
The Board of Trustees NAV declare vacancies IN
its body in consequence of the death. resignation
slefalcation or absence without leave fsr ninety
GAYS cousecutivey, of any OF its members
ARTICLE XIV.
Every transfer of any share Or shares Of the
capital stock shall be made on the books OF the as
eOciation and shall be signed by the stockholder.
or his or Ter attorney hut no stOckholder shall
have the right to transfer his or her stock unless
abe same is paid for in full. and all of his or her
matured obligations to the bank have been paid or
secured to the satisfaction of the Board Q: Trus-
tees. u,,,. ,,,,
The Board Of Trustees may close the transfer
books as often convenience may require, but
for longer than ten consecutive Gays al any one
dime. WV,
The failure from any caure to elect trustees on
she day named for that purpose, shall not dlss0lve
Shis association; the trustees then in office shall
hold over but it shall be their duty to appoint an
other day for such election, notice OF which snail
BE- given herein provided ior, anu me saMe pIoI
cess shall be continued until the eiectlon shAh
N''o ''e ARTICLE XVIII.
Every shareholder shall be entitled directly or
Nv proxy at all elections for trustees. or on any
matter at any meeting of the stockholders TO one
vote upon each share provided that after lne mrs.
election he shall have owned the STOCK AZ ieae'
three months prior to said election or time OF Sos
1ng.
ARTICLE XIX.
Every election of trustees OF this association
shall be by ballot, and conducted by three comm1s,
sioners inspectors to be appointed by the ooa1u
~ least two days previous to said election.
ARTICLE Xxx.
A Amsiorty OF all the trustees elected may pro-
visionally accept any additional power privilege
that may be hereafter conferred or this assocla-
zion, either by amendment of the laws under which
i, was formed by any new law enactment,
hut the final adoption and acceptance OF such addi
aional powers or privileges shall be determined by
4. vote of the stockholders in the manner pro.
v!ded by law. u,o