New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1876-04-18
00RP0RATIl0BS,


s0AA08ss.s. 80 - sss.ss .CkAA1TE1
Be i hncvntaat On this ssvensssnth day Of Il
month Of April, n the year Of eur Lord ono tho
Independence Of the United States Of Americs II
one hundredth. before me. 0ustsvs L. GARDEN
in and for The parish and city aforssaid, thefei
resading. and In the presence Of the witness<
hereinsfter named and undersigned. ,pe!f onall
: villsvasc, Gustsye Pitsrd. Gustave Cart and job
Of Di1ectors tess oDej Of the New Orleans Cred,
Fopeier Association, corporation duly organised
under the Avs Of this Sta g. by act passed befor
ISL and having s1i it, sd aosicis in III
} city Of New Orleans; the said appears herein &C
ads 81 tssp of Of
day Of april 1876. certified copy whereof is here
Which said appaarers declared in their said On
pssity that in order to carry into effect and caus
general meeting Of the stockholders of the a.
corporation, held on the said third day OF April
lS76, pursuant to call made BY the Board Of Di
| rectOrs, specially for the purpose of taking int
conaldeI alton and voting upon the adoption O
amendments proposed to the charter act Of in
corporation Of the New Orleans Credit Foncier A.
eocistion. - passed before the undersigned notary
On the eighteenth day Of November. 1871, BY the
oafd Directors MsIs, at their citing Of ths
Mas advertised by notices in the New Orleans
Times and the New o, ,ans Bee, newspapers pub
L
day Of March last, until tie day of holding said
| geneia al meeting as the whole will more fully an
pear oy reference to the annexed certified ,py Of
| the proc. edings Of said general meeting OF the
stockholders, wherein stock olders owning and
representing in the sggIeeate hoe shares Of the
capital stock Of said cOrpo alton being the hole
number of shares esented at lid general meet
ing, voted IN favor of the adoption Of the sald
| Amendmenta
SAID capacity do, by these presents, on behalf ii
| the stock holeere o. the said New Orleans Credit
ish ths SAID sc ~ PROCLAIM and pub
| incorporation Of the New Orleans Credit Foncjer
Association which have been adopted at the said
goneI al meeting Of the stc ckhOde OF the said
pOration. to be henceforth bindiny and Obligatory
upon the Stockholders Of the eaid corno, alton and
Oh Others h whom the same sha or may concern,
faid New orleans Credit FoDcier Association al
passed before S .he understand notary the
amt nded 60 as to read % follows, to wit:
ARTICLE
SKCTloN l. The nsme style and title OF the ssid
corporation ehall be THR NEW ORLEANS CBRDIr
FONCisR ASSOCiA TON, and the dom;c,le Z { the
sag corporation 10 hereby established in the city
sac 2. 1t shall exist for twenty f We wears from
the date Of its original charter If inc a.
non, 70 wit: from the eighteenth day OF Novem
Der, 1871 unless its affairs should be soone hnni
date d on the vote aad with the consent or thee.
sented at the genei 81 meeting Of ina stockholders
thereof. to be convened for that purpose IF. er
SIXTY days notice in two OF the newspapers pub.
Lshed IA me city OF New Orlt ans.
Sac. 3. 1t shall have Q sssl and the de vice upop
the same shall be the coat OF arms of the Stale of
Louisiana with the name of the as ISOLATION and
the daie Of the oIig:na, act Of moor poration 1
SIC. {. The president OF the association or in
ms aost nee the ecr.tary is hereby designated a.
Inc proper onacer en- whom citation and ali other
legal pi ocess may be servel.
ARTICLE II.
The object and purposes Of this association are
dec aed to be the following to wit: To purcha.e
lands within the limits OF the CRY of New Orleans
and then to sell and convey the same in such'
o manner hs to afford homes to persona
Of Of h restricted means, and to email, them
monthly payne nts In accordance with the vslre
OF the properly. and in order to facilitate the
privilege Of paying in cash or on such ereait 40
shall or may be agreed on between them and the
associston, provided that the said credit shall
under no circumstances exceed the term of ten
years. and slsO at the request of any good so
vent and responsible Ownel lands in this civ
and whenever convenient and adysatI, for aid
association to DO 50, to build on such lands for
The account OF the owners thereof on the terms
naDove era nted to the purchasers of proper.
~ belon slng sail association; to make repairs
on properties belonging TO go. d. solvent and rs
sponsitle par les; 10 make exchanges of proper. |
tiee; to purchase properli3s already ipproy ed nj
public or private sals, and TO carry on q general |
real estate agency.
ARTICLE III.
sEcTIoS l: The cap tai stock of the lid sssocia
lion is hereby hxed ut the cum Of eighty.six thou
aud sni ihiIty do lars divided in 20 sixteen bun.
d. ed and twenty four SHARES of fity d0lJars earL
snd niLe hurdred 81 d eixtysix sc,ips of 1--WE
1872. Va oo'oOer'
SEC 2. The capital stock may be increased n !
TWO hundred and fifty thousand dallore divided
nte shs res OF fifty dollars to be- paid for at
he time and in the manner provided for by Sec |
Jon tn e Of his article; and the new stock that
HAL Cr may be issued to repres ent the !, aid in |
'Iesse Of cspi,al shall participate in ard be en-
o be adds to the capital stock 40 fixed by Sec
ion one Of This article; to raise the same to two
'rs Of the Origina shares shall particpate in and
" entitled to the prof calculated on the While
%oon. o. Use capital stock of the association.
crlb.d for shall be pad ash at the time the |
'oard Of Directors shall dete1m ne. snd ten per |
ent additional shall be paid cash respecfiye]y. |
ach AMI every following month until the fnAi
'aymen Mt Of the stock subscribed for.
SIC. 4. No certificate Of stock shall he issued |
ntil the same is paid in full
SIC ;. In case Of neglect or refusal to pay anv
a stallment as provided for in section three of
ecretary OF the association, and without further
utting in default The stock Of the party neglect
,g or refusing to pay, aud all interest and benefit
va association; provided that the Board Of Di.
sotors may eatS na he pay ment of any install q
eem proper provided, also, that the 9, ock 40 for
y ed may be transft rred with the cons ms of the
O6rd of DiYectors q
SEC. 6. All transfers Of stock shall be made IN .
70 Dooks Of he association at its off cs in the !
~ or new Orleans, only by the party in wboae | =
anne II stands or his duly authorize agenf and | =
surrender OF the Certificate; aud no transfer
stock by the owner thereof shall be binding
pom the association unless made in the mann.1 | "
'ove directed; nor shalt tran sfer be mad. or .
allowed as long as any matured indie btednes to
e e assoc a.i'n exiss On the part Of the holder;
II inc STOCK OF holder SO indebted shall remain, ~
EDGED 10 the association until such matured in |
btedness is fully discharged,
ARTICLE ".
SECTION l.. At the end Of each fiscal year. which
hereby liked Cd the thrtIeth day OF September in |
On and every year the preside sh ali causs to he
ade state III INT OF the operations Of ths AGO |
stloD, anu shall cause the sane to be published |
Two OF the newspapers Of this city cnce a
9ek tor four w eks snccessivelv
SEC 2. At the end o. each and eyerv fiscal x.ar
enever the operations of said associa tion shali u
stlfy OF the same, dividend of not lees than fen =
cent shall he declai ed on the amount of the 81
)ck paid In, able to the stockholders NJ tho ~
ne, and in the manner to be dete rnioed Nv the ~ =,
ard OF Dire ctOrs the stockholders of TIE aseo | e.
'tlen TO part cipate in the said dividend in the "
nEer provided for by section two of a, ticie
rec. VI 1''oi0
'EG. B. In addition to the capital stock IF the :,
nation reserve fund shall be created To CON !"
OF an tha profits of the association over end |
ove the dividend of ten per cent to be Maid to |
sL0cK hoid'Is as provided for by section two of
whenever the same shall not Justify The aid
ID no OF ten per cent, and shall always ba held 49,
protec ton Tor the capital stock until the said
efve innd sba.l have accumulate led to the ex. ! -
e OF hlty thousand dollars after which e,tra | y
1dends may be- declared to the stockhOdcra -
Re- 4. No dividend shah be paid whils there to
SITS any matured indebtedness of Whateyar | so
q. AGAINST the holder. but the same shall be da
sea u the Gre dit OF tad Indebtedness until sat or
sd. No dividend declared shall bear Interest Ba
any dividend unclaimed for the term nf fhras | sh