New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-06-15

Total number Of shares subscribed as above 1882
Leaving unsupscribed $50 shares.
The remaining shares unsubscribed 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 par value.
Total number OF shares G69O.
ARTICLE III.
The capital stock shall be payable follows. TO
wit: The full amount i'll casI III current money, or
accepted checks, or money orders drawn on cash
paying banks, or orders III cash for the equivalent
on tho l.U!G6tCrs OF the Southern Bank.
ARTICLE ".
This corporation shall commence on the date Of
this act, to wit: the twenty eighth day OF May.
1873 and continue until the twenty ruth day Of
May. 1898. unless terminated as provided for in this
act.
The device Of the corporate seal shall be live
Oak tree. with cotton plant on the right and
sugar on the left. with the name OF the bank
ard that OF tie city CT New Orleans encircGng it.
ARTICLE VI.
The object of this corporation being to carry on
the business of banking, with all the powers and
privilege conferred by the statute before men
toned il is hereby agreed that this corporation
NAV have and exercise any other powers conferred
hereafter ny Jaw on banks created under SAID
statute.
The business of this corporation shall be
,acted by a board of directors, to be appointed by
The stockholders. The said board shall consist of
six members, each owning at least fifty shares OF
so and the said members shall he eligible to the
same time, their seats at the board. Three mem
bers Of the board shall constitute quorum for the
transaction OF business and the said board shall
lave the exclusive power Of the administration OF
the affairs OF the company, and majority OF the
Whole board may accept any act of the Legislature
relating 10 tine business OF this corporation.
ARTICLE VIII
Msssrs. Christian Roselius James Jackson. John
T Moore William G. c. Claiborne Jr, Bradsh
johnson and Thomas Layton are hereby appointed
directors OF said bank and they shall continue in
4 Aver dow inf Iann
ceuber 1874 and in the same month IN every sue
ceeding year, an election shall be ted for drec-
tors for the wear then next ensuing said election
TO be conducted in the manner and on the day
liked pv the bylaws OF this corporation, each share
havlrg one vote, which may be given BY proxy.
iuplouse and each Board of Directors to remain in
Office unit the succeeding board shall be organized
under tine new election.
ARTICLE TX.
Tie said directors shall have full power 10 make
bylaws: they shall appoint all officers and EN-.
pioyes Of said company, and fix their salaries pro-
vided that said appointments be made annually.
and Led subject to removal at the pleasure OF the
board; and they may, also, from time TO time. by
vote OF two-thrds Of their number, in transactng
e an1 ysousact delegate to
tee of fLer own body OF to a committee of stock.
holders. OF to their officers or other agents as
they NAV deem expedient. They shall establish
bylaws regulating all elections, the duties ap-
pointment and discharge of al officers
and PERSONS in the re be OF 1ee
bv them The board shall have power TO change
,her bylaws and establish. from TINE to Tine.
such esuiations the interest and order OF the
business of the company may req lre; also, 20 ap
roiLt agents for the transaction OF the business q
,he bank within ana OUT OF .ne Sa,t anu 10 a. b
books If the bank for the transfer OF STOCK "a De
opened AID kept in the city of New York, urcer
CERTAIN restrictions to be prescribe! ov .he ooaio
ARTICLE x
n;vi6..ls Of the profits OF the corporation shall
BE- declared twice in each year # the san. te sA
pedltYl. and notice thereof shai. De pup snct
within ten days after the declaring thereof. Il:
| shall be The duty of the board :" e.:.:'.s: re-
ARTICLE Xl.
Tn. directors shall have powe, 10 Il! II: vacan.
..s in their own body and to declare vacancies on
account of disqualification by reason ci Lot owning
sock insol vency or absence without leave during
two months from the state. or non Attendance at
| the regular meetings OF the board ior saiu term.
They shall! cause to be kept . record OF a.. then
| proceedings which shall! be signed ~ the yres'-
dent and cashier.
The directors shall appoin: president and cash
! ar who shall sign all bank-nores issued by the
bank Tie president shall preside az a.. meetings
OF the board, and in case Of his aesehce or inaoty
| to attend a president, for the time beng nav Dc
elected IN his place. to serve during such absence
| or Inability. ,,,
The directors shall have power 20 se,i any shares
of stock the installments OF which shall not have
| be an duly paid. No certificate OF stock snal! be
issued by the bank until the CAPITAL stock email
have be en- paid thereon in full. The Board OF d.
rectors NAV purchase for the corpoIs alton any evl,
| dences of debt that they may hold oy law, and
j transfer in pledge to the Auditor Of Pubic Ac-
counts or other proper officer OF the State OF Lou
portion OF said evd af Of az
| cnlatien 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
and consent Of two.thirds Of the stock
holders In amount, it shall be 1wfui %
| increase the capital Of this corporation IRON une
l to time to such IN amount a. may be deemed
| pedient, with the understanding that tho max
| imum amount Of tho cspitsl shall not excess one