New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-10-01
Avs Of THE STATE OF LOUISIANA
PUBLISHED BY AUTHORITY.
AN ACT

| purposes.
Be il enaeted by the Senate and the House
| OF Representatives of the State of Louis
lana in General Assembly convened. That
! +. Kenny, 5. A. Hamilton, c. C. Antoine,
| William Harper. A. Z. HUFF. James L.
| Frank T. Hatch and NJ. A. Walsh and their
| successors and assigns are hereby created
a body polite and corporate, under the
4 name and title OF the Shreveport Savings
| Bank and Trust Company, with the powers
and privileges of doing general banking
| business under and pursuant to- the gen
erai laws now in force. and also with the
| the follow M articles:
ARTICLE I.
The name and title of said corporation
| and Trust Company, and its Jomicile
shall be in the city of Shreveport.
! with the privilege OF creating branch
or branches in New Orleans or else.
where in this State. as the board of direc
| tors may determine, and shal: exist for the
term of fifty years from the passage of this
act. 1t shall have power t" contract. sue
and be sued. to hold and receive. purchase.
convey. mortgage and receive on mortgage.
pledge and receive in pledge property, both
rea! and personal: to make and use
common sea-, to name and Appoin: such
managers. directors and officers as It's in
terestS may require, and to create and
tabllsh proper oy laws and rules Cor the
regulation and management OF the affairs
OF the company.
ARTICLE II.
This corporation is hereby authorized and
empowered to receive on deposit from all
persons money IN al! sums frontier cents
and upward, and to pay out the same by
nj harU fN
from minors without the authorization of
parents or tutor. and from married women
without the authorization OF their huS-
bands: also. TO receive for safekeeping val.
tables of all kinds, and 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 January and July of each
year. \ higher rate of interest may be
paid by special agreement.
ARTICLE III.
For the security OF the depositors IN this
bank al! money therein deposited shall be
invested only in first mortgage on real es-
tate III the State OF Louisiana, il stocks
and bonds of corporations OF the State OF
Louisiana. Or upon pledge of such stocks
and bonds. or on pledge of United States
bonds, bullion. silver plate and diamonds,
bu. no loan. shall be made for a longer
period than one year. or upon property that
Is not worth one-third more than the amount
loaned thereon. and at a rate of interest
not exceeding seven per cent a month.
Other funds Of the bank may be loaned in
tue same way at the same rate ct interest.
ARTICLE ".
t. facilitate the loaning Of money as
specified in article three. full authority is
hereby q Ven to execute and issue certiti.
Gates OF pledge upon all kinds of movable
property. and To do and perform every act
and thing pertaining to the loaulug Of
money upon security OF pledge.
ARTICLE V.
The capital stock shall, be one hundred
thousand dollars. divided into one thousand
share. D: one hundred dollars each. and
the same may be increased to One million !
dollars by a vote Of two-tllrts o. the stock. !
ARTICLE VI
Upon the orran.sation OF the bank. Sub.
sc;lbers to the stack shall pay into the |
hands OF the cashier twenty dollars upon |
each share subscribed. Assessment ON the |
stock shall be made thereafter at such time
as the directors may determine. bat no as. /
sessmeut shall be made o! over ten dollars
per share, or a: 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 .!yaA to the
owner. be sold. and the proceeds applied to
paying the assessment.
ARTICLE VII.
The following persons, namely. f. Kenny.
S. A. Hamilton. G. C.. Antoine. William
Harper. 4. f. HUFF. James l. Thompson.
George L. Smith. II. b. Morse. Frank 7.
Hatch and N. A. Walsh. are hereby con.
stituted the first board OF directors. in
whom. and their successors. DIRE vested all |
the corporate powers OF this corporation. 1
They shall hold their office until III. first
Monday in Nav. 1871. On the second Mon.
day in April. IS. !. and annually thereafter.
there shall be elected seven directors by a
ma jority of the stock voted. Fifteen days
notlce shall be given in one of the papers Of
the city OF Shreveport, and the directors
then elected shall take their seats on :he
first Monday in May following. No one
shall be eligible to the position %: director
lniess he is the owner OF twenty shares Of
he stock OF the bank.
ARTICLE VIZ.
On the first OF January and .Ji!- Of eaci.
-ear there shall be made statement Of the
condition OF the bank. setting forth ii de.
a! its assets and liabilities. and said state.
nent shall: be verified by the oasi. OF the
PRESIDENT and cashier. and shall oe access.
bic TO any depositor or stakeholder.
ARTICLE *.
All pledges aot redeemed on 0. before
Re expiration OF the time for whic.. the
Dan was made shall be considered forfeited .
y the bank. and after tel days notice. I
ither personally or in one daily paper IN | {
he city OF Shreveport. shall be sold at pub.
!. auction. and the proceeds. after paying
ne principal. interest and expense OF sale. =
hal. be placed to the credit o: the party |
lodging the same: but should the same not
- claimed within SIX month. from ths
ate Of such credit, then it shat: bc applied |
nd added to the capital OF the company.
PARTICLE X. !.
This corporation shall. have Ia. sole a
nd exclusive right TO construc. and
rec: wateTwor'ls 70 supply tn. city of d
n.evepG.. with pure water. and gas. :
'.rks. - supply said city with !liumin. j
ting gas: and may enter upon a. AMI
ny streets FOR th- purpo-e OF laying their |
alter and gas pipes. ana erecting necessary
ydrants aid gas posts. and exc!us!va!r 70
,ntrol the same during the continuance o: ;,
: charter. and tor the consumption .: wa. ',
y ana gas. to charge not exceeding elgh: | =.
oilavs per one thousand feet Tor gas. and Il
10 dollar. tor every thousand ga, | y
'na OF water furnished. THIS coy T
grafton shall! also have tne sole | b
nd exclusive !lGAt3 OF teri!dge during III. !
,ntinuance of this charter. al the cco5sin. ! 81
Red river az thc city OF ShreveDor'. "a. a | :!
pint commencing az or near the foot o.: | W
exas street and extending VI. the river 10. | ~
lr distance of two miles. and down The | =
Yer. from the intersection OF Texa. street. a.
dstanc. of two miles. and the board %: III
rectors may use steam or othe; power III -
rra-e. and regulate the rates anu collect -
e toll. on passengers. wagons. vehicles. *
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