New Orleans Republican., 1873-06-22

! Total number of shares subscribed as above .6.32
Leaving unsubscribed 553 shares
| The remaining shares unsubscriDed for as stated
above, are held by the bank, subject TO the dis
| position Of he Board of Directors, provided they
| be not sold for less than their pax value.
Total number OF shares 6o9O.
ARTICLE III.
| The capital stock shall be payable as follows 20
wit: The full amount in cash in current money
| accepted checks, or money orders drawn cash
paying banks or orders in cash fOr the eIulyaIe1.
| on the iqudators of the Southern Bank.
ARTICLE ~.
| This corporation shall commence on the date of
| this act, to wit: the twenty eighth dav of May,
1878, and continue until the twenty ninth day of
May, 1928. unless terminated as provided fox in this
| act.
ARTICLE "
The device OF the corporate seal shat! Ne a 1--WE
oak tree. with cotton plant on the right and
sugar cane on the left. with the name o. The bank
and thai OF the city Of New Orleans encIrcliu. 1t.
ARTICLE ".
The object Of .!is corporation being to carry on
the business of banking, with all the powers ana
privileges conferred bv the statute before men,
may have and exercise any other powers conferred
hereafter oy law on banks created under said
statute.
The business Of this corpor alton shall be con.
ducted by board of directors, to be appointed by
| the stockholders The said board shall consist of
six mem hers, each owning at least fifty shares of
sto' aud the said members shall be eligible to the
offices of president and cashier, and retain, at the
bers OF the board shall constitute quorum for the
transaction OF business and the said board shall
have the exclusive power of the administration OF
tine affairs of the company. and majority of the
whole board may accept any act Of the Legislature
,e.atin. TO the business of this corporation.
ARTICLE W.T.
Messrs. Christian Roselius James Jackson Yoi,,
T Moore. William g. C. Claiborne Jr.. Bradish
Johnson and Thomas Layton are hereby appointed
directors of said bank. and they shall continue in
office until the first day of January, 1875. In De-
ceeding year. an election shall be held for direc-
tors the year then next ensuing; said election
fixed by the bylaws of this corporation each share
having one vote. which may be given by proxy.
The election to be by ballot and held at the bank.
inghouse and each Board OF Directors to remain in
Office unti the succeeding board shaI! be organized
under the y election
ARTICLE TX.
The eaia directors shall have s.li power to make
bylaws they shall appoint all officers and en-
p.oyes Il said company, and ii their saaI les pro-
vided that said appointment. be made annually
board and they may, also from time to time, by a
OF two thirds Of their number, in trausacting
the Ordinary business Of the CORPORATION. or for
zee OF their own body, or to committee of stock.
holders, or 10 their officers or other agents. as
pointment aud discharge Of all officers
and PERSONS An n, the smplosTens of the
by them. The board shall have power to change
their by laws and establish from time to time,
such regulations as The interest and order OF the
business of the company may require; also, to ap.
point agents for the TRANSACTION of the business of
the bank within aud out of the State and to
books cf t.. bank fer the transfer OF stock to be
opened aud kept in the city of New York, under
certain restrictions to be prescribed by the board
ARTICLE x
Dividends Of the profits the corporation shai!
te declared twice III each year if the same be
pedlent and notice thereof shall he published
within ten days after the declaring thereof 1t
hall ha ba of to nssta ,IiSH
ARTICLE ".
The directors shall have power TO nil AL vaean.
account of disqualification by of not owning
stock. insolvency or absence without leave during
months from the State. or non-attendance at
They shall cause to be kept a record OF all their
proceedings. which shall be signed by the pres
dent and easlleF' ARTICLE XII
The directors shall appoint president aud cash
ier who shall sign all bank notes issued by the
bank. The president shall preside at al! meetings
to attend, president, fol the time being mas be
elected in his place. to serve during such absence
or inability.
The directors shall have power to sell anr shares
Of stock the nstallments of which shall not have
been duly paid No certificate of stock shal. be
issued by the bank until the capital stock sha!
ha y been paid thereon in full. The Board Of D-
rfctors may purchase for the corporation any ev
dences Of debt that they may hold by law, and
transfer, in pledge, to the Auditor Of Public Ac-
counts OF other proper officer Of the State OF Lou
slana all or any portion of said evidences OF debts
authorized to secure the payment of notes of cir
culation to be issued by this corporation. The
Board of Directors shall have power to close the
transfer books Of stock for any time not exceeding
ten Aaya And. by and with the adviee
and consent of twothirds OF the stock
h0lders in amount it shall be lawful to
increase the capital of this corporation from time
to time, to such An amount as may be deemed <
pedicnt, with the understanding that the max
iWum amount Of the capital shsll not exceed ons