The Lake Charles echo. [volume] (Lake Charles, Parish of Calcasieu, La.) 1876-1898, 1883-05-19


of Louisiana, and the parties whose names
are hereuntO subscribed. who declared that,
ayailing themselves of the provisions of the
Act entitled IAN Act to establish a general
system of free banking in the State of LOuisi-
ana" approved fifteenth of March, A. D.,
1855, and of the Acts amendatory to the
same, they have covenanted and agreed, and
do by these presents covenant, agree and
bind themselves, and those they represenC,
to form themselves into, constitute, establish
and create a bank, for the objects and pur-
poses hereafter explained, and under the
stipulatiOns, regulations and obligations
hereafter expressed, to-wit:
ARTICLE 1.-Adnc.
The corporate name of the Association
shall be the BANK OF CALCAsIEU.
ARTICLE 2.-F9rtod
This Association or Corporation is formed
for period of twenty years.
ARTICLE 3-OLjcct ofhC Corporation.
The object of the Association or Corpora
ton is to carry on the business of banking,
by discounting bills, notes, and other evil
dences of debt. receiving deposits, buying
gold and silver, bullion and bills of exchange,
lOaning money on real and personal security,
and to exercise all such incidental powers as
are now or may be hereafter authorized by
law.
ARTICLE 4-D0HlioN.
The place of business and legal domicil of
said Association or Corporation shall be
located in the Town of Lake Charles.
ARTICLE Capitdi-How P1ya6le-R Penalty
for AOn-payD'em 9f Subscription 10 CapttaI
Stock
The capital stock of this Association of
persons or said Corporation shall be $50 ,0OO)
Fifty thousand Dollars, divided into one
thousand shares of fifty dollars each twenty
five per cent of which shall be payable to the
Bank on or before the fifth day Of July Eight
cen hundred and Eighty three, twenty-five
per cent. on or before the fifth day of October
Eighteen hundred and Eighty-three. twenty
five per cent. on Or before the fifth day Of
January Eighteen hundred and Eighty-fOuT,
and twenty-five per cent. on or before the
fifth day Of April Eighteen hundred and
Eighty-fOur. And should any subscriber
neglect to pay Punctualiy his, her or their
share or installmeDt Of his, her or their share
or shares as they fall due, they shall be chaTg-
ed interest at the rate Of eight per cent. per
annum therefrom until paid; and any sub
scTibeT neglecting or refusing to pay the in
stallmeUt Or installments falling due within
the delay Of thirty days after the time fixed
for the payment Of the same, and in the man
uer aforesaid and place aforesaid, the Board
Of Directors, after ten days notice by advGr-
tisement, shall have the right TO cause to be
sold by auction or otherwise, any share or
shares on which any installment may be due
and remaining unpaid.
ARTICLE 6.-C0Hntc5tcc171Cmt Of Business.
This Corporation shall commence lis ope-
rations after the payment of the first install
ment Of the capital stock by the shareholders.
ARTICLE 7.-Dcice and iScai
The device and seal Of the Corporation
shall be Star and Crescent combined, sur
rounded by the name Of the Bank date of its
organization, and wreath, in a neat and apv
prUPriatC manner.
ARTICLE S.-McreaSe Of CopUql
The capital stock Of the Corporation may
hereafter be increased 10 any sum not exceed
ing Two hundred and Fifty thousand dollars,
divided into shares Of fifty dollars each, and
whenever any such increase shall have been
duly authorized, sixty days notice Of the
same shall be given, by publication in one or
more newspapers published in the Town of
Lake Charles, at the discretion Of the Board
Of Directors, and within which time stock
holders shall have the privilege Of taking ad-
diuOnaI shares, in proportion 10 the number
OF shares held by them respectively; and
shares not taken at the expiration Of said
time may be sold by the Board Of Directors,
at not less than par, for the benefit Of the
Corporation.
ARTIC lie 9.-Roul,S Of Colpoyatiml rested il.
d Bould Qt Directors.
All powers of the Corporation shall be
vested in a Board of Directors consisting Of
nine persons, each of whom shall at all times
hold in his own name and right at least ten
shares Of the stock OF the Corporation, 4
majority Of whom shall be residents of Cal
casieu parish.
ARTICLE IO.-Auuud Eiection # Diyectoy8
On the third Monday Of July, A. D.. 1854
and annually thereafter, an election Of Direc-
tors by the stockholders shall be held at the
banking house of the Corporation; plural
ity of votes then and there given shall elect.
Previous notice of at least ten days Of said
election shall be given by publication in one
or more newspapers published in the Town
Of Lake Charles, at the discretion of the
Board of Directors.
ARTICLE 11.-FirS Bod3'd Of Directors,
The following named persons are hereby
chosen and shall compose the first Board Of
Directors, to serve until superseded by the
new Board to be elected on the third Monday
Of July, A. D., 1854: Benjamin T. Flanders,
J. W. Bryan, VIII W. Flanders, Dau'l },
Meyer, Gabriel-A. FOurnet and Chas. Miller.
ARTICLE l2.--Eieetton Qf a President and
FicG-P President and Hcir Duties.
The Board Of Directors shall at their first
meeting elect from among their number a
president and yice-pTesident of the Corpora
tion, provided always they receive not less
than majority of the votes of the whole
Board. Ii shall be the duty of the president
to preside at all meetings Of the Board in
case of absence or inability to act, the vice
president to act instead and for the time be-
ing to have and exercise the full powers Of
the president.
ARTICLE 13.-DiSeouatiag.
The number of directors necessary for dis
counting notes and drafts and purchasing
bills of exchange shall be determined by the
bylaws OF the Corporation, but for the trans
action of any other business by the Board a
majority of Directors shall be required to
form a quorum, and the decision Of major
ity Of said quorum shall be valid and binding.
ARTICLE I4.--FbleeyS Of DiJect0ys 10 fi'dDle
By-Lai0s, Elect officers, dc.
The Board of Directors shall have full
power to make bylaws, they shall appoint q
cashier and all officers and employees Of this
Corporation, and fix their salaries; provided,
that said appointments be made annually,
aud held subject to removal at the pleasure
Of the Board; regulate their duties and the
security to be given respectively, with power
10 change the bylaws whenever the interest
and order Of the business of the Corporation
demand it; aud to appoint agents within and
)Qt of the State, under restrictions TO be pre-
seribed BY the Board.
ARTICLE l5.-Digideads, Hop Digided.
The Board of Directors, after paying all the |
expenses of the Corporation, shall twice in |
zach year, if the profits Of the business justify
t, declare and pay such dividends out Of said |
surplus profits as they may deem expedient. |
Notice Of The same shah Be given BY publ |
,ation in one or more newspapers published |
a the Town of Lake Charles, at the discre- |
ion of the Board Of Directors.
ARTICLE 1s.-FSl}ing VaeaaeieS ia Board.
The Board of Directors shall have power to
Ill any vacancy that may occur In the Board.
ARTICLE 17.--HoW Vacancies are Made and |
Declared
Vacancies In the Board Of Directors may
nc declared in consequence of death, resig-
lation, want Of requisite number Of shares,
insolvency, on absence without leave sixty |
days.
ARTICLE IS. TFqaSiT Of Stock.
Every transfer Of any share or shares Of
,apital stock shall be made on the books Of |
he Corporation, aud shall be signed BY the
or his attorney.
ARTICLE 10 oloss Of Transfer Book
The Board Of Directors may close the /