New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1876-05-02
CORPORATIONS.


insurance to the association and in default Of the
said first mortgage the association shall have the
power to accept good and unequivocal collateral
securities
ceive its own stock at par value in full or partial
settlement Ut all back indebtedness due to the as.
by tie ASSOCIATION. matured At the date OF the
present act Of amendments; the stock dated the
tenth day Of October, 1872 and the scrip thereto
SEC. T. From and after the date OF the present
act of amendment, the association sha1l have
temeut of ali Indebtedness due to the ASSOCIATION,
provided that the party OF parties awaiting himself
OF themselves Of this provision shall pay his, her
OF their indebtedness, stured or not in full end
without discount; and provided also that in the
event any party shall offer to purchase any property
binary debtor Of the association shall offer to settle
his indebtedness to the association, and they shall
to pay the purchase prics in full or to satisfy the
said Indebtedness in full the association shall have
power TO receive the difference in currency; and
power to exercise this mode settlement until the
capital stock Of this associa ion shall have become
reduced to forty th0usad dollars by said mode Of
settlement, when all payments to the association
shall be made in currency.
SEC. S. All stock received by the association in
payment Of indie ctOdness to it shall be- psO facto
Cancelled. and record of all such Cancelled stock
shaN be kept.
SECTION l. All the corporate powers af the asso-
citation 81 all be exercised Dy Board Of Directors
and such other officers and clerks as they may ap-
point.
SEC. 2 The Board of Directors shall consist Of
eight tockbOlders, i've OF whom shall form
quorum TOR the transaction OF ali busne IS Of the
SEC s. The election OF the Board of Directors
shall take place an the second Monday of October
in each and every year at the Office OF the associa-
cause at least fifteen days previous notice to be
city In the event Of no election taking place on
the day aforesaid, the president shall cause
thereafter, and give notice Of the same by adver-
tisa,neut in two of the ne Sspaoers OF this city.
three OF the stockholders Of the association
mssioners and two teliers to conduct, supervise
| and report said election, and they shall certify
under oath to the of their report. The
Board of Directors thus elected sall for the
| r.yn Of one year, or until fhtir successors are
| duly elected and have qualified.
! NEC S. Each aud every stOckhoder ehali be en-
titled at elections either in person or by proxy to
ons vote on each and every share of the capital
| hold; but not to vote any stock to him, her or
| them transferred within thirty days previous to
said ecti0n; and those per sons receiving plural
| ity of votes shall be considered elected.
! SEC. 6. The Board of Directors shall annually,
at their first meeting, elect one of their own MEM
year, OF until his succe. scr is elected and has
| qualified; the Board Of Directors shall also ap-
point all the other officers and clerks of ths
| citation, and shall fix the compensation of the
president aud of all the officers and clerks en-
ployed by tins association.
/
ings of the Board of Directors, and at the meet.
ings Of the stockholders of the association, and
shall conduct the business OF the association gen
orally under the superv ison of the Board Of Di-
rectOrs; til e president 10, moreover. hereby fully
acts til at shall may be necessary aud requisite
to carry out the object AID purposes OF the asso-
/ ciaeiOn.
! ma do liable ZOE the lOssss OF the ASSOCIATION
beyond his her or their subscription to the capital
| stock Of the association.
ARTICLE VII.
SECTION !. In case Of nonpayment the Board of
| Dire ctors shall have the power to fOreclose the
| mortgages granted to the association to secure:
l. The payment of the purchase price of all prop
critics sold to the association. q The pa yment and
| REIN bursement of all advances made by the ass0-
citation for building and making repairs for &C.
| ment Of all advances made by the association as
real estate agent. 4. And generally the payment
| aud reimburse meut of any and all advances made
by the association TO carry out Its objects and pur-
| poses.
SEC. 2. The Board of Directors shall have power
to purchase any and all properties so encountered
in favor eff the association at private sale, or at
any forced sale OF the came. it, in their opinion the
interest OF the association would be promote d
thereby, and to sell, convey, or lease the same to
the best interest Of the association.
| SEC. 5. The Board OF Directors shall have power
to adopt such bylaws as they may deem necessary
| and Convenient for the government and regulation
Of the association not contrary to this charter.
deemed e1kedient; and in the absence of the
! president they shall have power to appoint one
I
| ARTICLE VIII.
The following named persons duly elected d.
l rectoIs of the association on Monday the eleventh
day of October, 1875 shall continue in office under
October 1876 or until their successors elected
| and qualified. They are hereby vested with all
| the rights and powers thereu belonging, with
| power to fill any vacancies which may occur in
| their number and generally to do and perform all
acis ard things not herein provided for, which
may be necessary to carry into full effect the OBJ
| iects and purposes OF this association:
Lueien Mollo, Jose Antonio Fernandez,
ans 'or ee Pitard, Octave aOplins s''
Gustsve CAST, John Weber
ARTICLE TX.
At the expiration of this charter sooner, a. ID
herenabove provided for by section two Of article
dated its debts paid and the balance divided
among the stockholders pro rata on the amount
with the provisions Of section two Of article
three. The Board of directors shall have the
point q board OF liquidato,s. to be composed Of
! the president and two stockholders the president
of the association to be oficio president of the
''"' - ~ 0'' ARTICLE K
The stockholders of the association, at 9 gen
eral meeting to be convened tor the purpose. after
| thirty days notice in two of the newspapers pub
lished in this city, shall have the power to make
any changes, additions or modifca lions to the set
| of Incorporation, provided that thre0-fOurthe Of
the votes represented at such meeting shall vote
| in favor Of euch proposed measures, and any and
| all such notifications alterations or amendments
| shall he recorded and published according to law
Thus done and passed in New Orleans, at my
| office, the day, month and year fret above writ
ten, in the presenceC CT Armand Pilot, Jr and Gus
tave II. Leteller, comp tent witne sses who have
signed with the said parties and me, notary. afteI
| reading the whole
| Original sigr ed:
G. CAST.
J. vILLAvOSO.
J. A. FERNANDO.
LUCiEN MOLLO.
Y. DkMoURELLE,
JOHN WEBER,
a. PlrOT JR
g. NJ LETELLIER,
G. LEGARpEUR JR., Notary Public.
/. the undersigned, deputy recorder of mort
cages in and for this city Of New Orleans and par
ish of Orlt State OF Louisiana, do hereby Ger
tify that tie foregoing amen dmen5 of the charter
of the New orleans Credit Foncier Association wal
duly recorded in this Office in Book Society No. lib
''i-' 80 ~ j. N CONWAY, Deputy Recorder.
New Orleans, April II, 1916.
} A true copy of the original on file and of recort
G. LKGARDEyR, JR, Notary Public.
New Orleans, April H. 1876. apis Is my29
Il BANKS AND BANKING.
NEW ORLEANS
SAVINGS INSTITUTION.
1856 ........... Canal street. .........15t
oFFICERs:
| D. URQCHARr, President.
| THOMAS A. ADAMS, First Vice President
| CHARLES j. LEEDS, Third Vice President.
| CHARLES KlLSHAW. Treasurer.
TRUSTEES:
, Thomas A: Adams. George Jonas,
. Charles J. Leeds Christian Schneider,
+ Samuel Jamison. Carl kohn.