New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-06-10

Total number of shares subscribed as above. .6l32
Leaving unsupscribed 558 shares.
The remaining shares Unsubscr bed for. as stated
above, are held by the bank. subject TO the DIS
position Of The Boarc of Directors, provided they
be not sod for less than their pa: value.
Total number of shares, $3.50.
ARTICLE III.
Tie capital stock shall be fayab'e as follows, 20
wit: The fun amount in cash in current money or
accepted checks, or money orsers drawn cash
paying banks. orders in cash for the equivalent
On the .i1Uldators OF the Southern Bank.
ARTICLE ".
This corporation shall commence the date Of
this act TO wit the twenty eighth day of May,
1875 and continue anti! the twenty niurh day OF
May. 1898. unless terminated provided :o- II this
act.
ARTICLE V.
The device Of the corporate seal shall be a live
sugar cane on the left, with the name OF the bank
and that OF the city of New Orleans encircling it.
ARTICLE W.
The object of this corporation being to carry on
the business OF banking, with all the powers and
privileges conferred by the statute before
toned, it IS hereby agreed that this corporation
may have and exercise any other powers conferred
hereafter Ny law on banks created under said
statute.
The business of this corporation shall be con-
Quoted by board OF directors, to be appointed by
the stockholders. The said board shall consist Of
SIX ters, each owning at least fifty shares of
stock ard the said members shall be eligible to the
Offices Of president and cashier, and retain, at the
same time their seats at the board. Three mem
beTs OF the board shall constitute quorum for the
transaction Of business and the said board shah
have the exclusive power of the administration of
the affairs of the company, and majority Of the
whole board may accept any act Of 'he Legislature
relating 20 the business of this corporation.
ARTICLE VIII.
Mesgrs. Christian Roselius James jackson John
7. 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-
oemher, 1874 and in the same month in every sue
ceedipg year, an election shall he led for direC-
tors far The year then next ensuing; said election
to he conducted in the manner and the day
fixed by the bylaws OF this corporation, eacsl share
having one vote, which may be given by proxy
inghOuse and each Board of Directors main IN
office until the succeeding boaid shall be organized
under the new election
ARTICLE *.
The said directors shall have 1aN power % make
bv-lavs; they shall appoint all officers and en-
p!oyes of said company and Fl X their salaries pro-
vide that said appointments be made annually,
and held subject to removal at the pleasure of the
board and they may, also, frosn time to time, by
vote of Twelfth of their number, IN Transferring
the ordinary business of the corporation, for
making any contract, delegate power to a com nit
tee of their own BODY, or to a comm ttee Of stock
holders or to their officers, other agents,
bylaws Regulating an elections, the duties APP
pointment and discharge of all officers
and persons 10 the employment Of the
company, and the security to be given
by them. The board shall have power to change
their bylaws and establish, from time te time,
such regulations the interest and order of the
business of the company may rec uire; also 20 ap-
point agents for the transaction of the business of
the bank within and out of the State and to cause
books OF tie bank for the transfer Of stock to be
opened and kept IN the city of New York, under
certain restrictions to be prescribed by the board
ARTICLEx
Dividends Of the profits of the corporation shall
be declared twice In each year, if the same be ex.
pedlent, and notice thereof shall be published
within ten days after the declaring thereof II
shall be the duty of the board 10 establish "a.
Wa ~ ARTICLEXl.
The directors shall have power to ill all -acan.
ces IN their own body and 20 declare vacancies On
account of disqualification by reason OF not owning
stock insolvency, or absence without leave during
two months from the State, or u0n-attendance at
the gular meetings of the board for said term.
They shall cause TO be kept record OF all their
proceedings, which snail be signed By the pTes.-
ARTICLE XII.
The directors shall appoint presiden: aGl cash
Ter, who shall sign all bank-notes issued by the
of the board and il of his absence inability
to attend. president. for the time being NAV be
elected il his place 70 serve during sue. absence
ARTICLE NH.
The directors si all have power to sell any share.
Of stock the installments of which shall not bave
been duly paid. No certificate OF stock shall be
issued by the bank until the capital stock shall
have been paid thereon in full. The Board of Di-
rectors may purchase for the corporation any evi.
dences of deb. that they may hold by law and
transfer in pledge to the Auditor of Public Ac
counts or other proper officer of tine State of Lou
.siana all any portion of said evidences OF debts
authorized to secure the payment of notes of cir
culatien TO be issued by this corporation. The
Board of Directors shall have power to close the
ten days. And, by and with the advice
and consent of two thirds of the stock
holders in amount, it shall be lawful to
increase the capital of this corporation from time
to time, to such an amount may be deemed ex.
pedient, with the understanding that the max
imum amount of the capital shall not exceed one
million Of dollars, to terminate and wind up the
the business thereof on compl wing with the re-
quisites of the two hundred and seventy ninth
section OF the act under which it is organized.
ARTICLE XIV.
For the purposes Of quidating the affairs Of this
corporation, three commissioner to be elected by