The Lake Charles echo. [volume] (Lake Charles, Parish of Calcasieu, La.) 1876-1898, 1883-06-09
CHARTER
United States of America, State
ofE4OuisfanR, Parish OfCaIca-
sieu, Town of Lake Charles.


Of Louisiana, and the parties whose name
| are heTeuntO subscribed, who declared that
| aYailiRg themselves Of the provisions of the
Act entitled "An Act to establish a genera
system of free banking In the State of Louisi
| ana,o approved fifteenth Of March, A. ID.
| 1855, End of the Acts amendatory to the
same, they have coYenanted and agreed, and
do by these presents covenant, agree and
bind themselves, AID those they represent
to form themselves into, constitute, establish
and create bank, for the objects and pur.
poses hereafter explained, and under the
supulations, regulations and obligations
hereafter expressed, tO-wit:
ARTICLE 1.-Ndme.
The corporate name of the Association
shall be the BANK OF CALCAsIEU.
ARTICLE 2.-FtrtOd.
This Association or Corporation is formed
for q period Of twenty years.
ARTICLE 3.-Otject ofthe Corporation.
The object Of the Association or Corpora
ton is to carry on the business of banking,
by disGOuDtang bills, notes, snd other eVi-
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.-D0,aica.
The place of business and legal dOmicil of
said Association or Corporation shall be
located in the Town of Lake Charles.
ARTICLE -CapttdL-LoW IayGJle-R Penalty
for Aot7pGy"aeid Of SWbse,iptiOn 10 Capital
Stock
The capital stock of this Association of
persons or said Corporation shall be 1850. COO
Fifty thousand Dollars, divided into one
thOusand shares Of fifty dollars each, twenty
five per cent. of whichshaI be payable to the
Bank on or before the NTH day of Juiy Eight
cen hundred and Eighty three, twenty-five
per cent. Oh 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-f0ur,
and twenty five per cent. on or before the
fifth day Of April Eighteen hundred and
Eighty-fouT. And should any subscriber
neglect TO pay puDct tually his, her or their
share or installmeBt Of his, her or their share
or shares as they fall due, they shall be chaFg-
ed interest at the rate of eight per cent, per
annum therefrOm until paid; and any sub
scribeT neglecting or refusing to pay the in
stallment or installmepts falling due within
the delay Of thirty days after the time fixed
for the payment of the same. and in the man-
neT aforesaid and place aforesaid, the Board
of Directors, after ten days notice by yadyeT-
tisement, shall have the right to cause to be
sold by auction or otherwise, any share or
5uai bs III WHICH al Ahstdi4lltuI may DG uuC
and remaining unpaid.
ARTICLE O. C00t0aence0aent Of Business
This Corporation shall commence iig Ope-
TatiOns after the payment Of the first Install
ment Of the capital stock by the shareholders.
ARTICLE 7.-Desice aud Sedi
The device and seal of the Corporation
shall be Star and Crescent combined, sur
rounded by the name of the Bank. date of its
in
pTOpTate manner.
ARTICLE S.-ItcTcGSe Of CGpitd.
The capital stock Of the Corporation may
hereafter be increased to any sum not exceed
ing Two hundred and Fifty Thousand dollars,
divided into shares Of fifty dollars each, and
whenever any such Increase shall haye 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
ditiOnal shares, in proportion TO 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,
ARTICLE 9.-Eb1GeIS q COTpOIrdti0Ji rested bt
u BoQId Ct' Directors.
ALI poWers of the CORPORATION shall be
vested In 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 a
ma iority of whom shall be residents of Cal
casieu parish.
ARTICLE l0-AaRuai Elecfion Of Directors.
On the third Monday Of July, A. D.. 1884.
and annually thereafter, an election Of DiTec-
tors by the stockholders shall BE- held at the
banking house Of the Corporation; u 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
Jr more newspapers published in the Town
Jf Lake Charles, ut the discretion Of the |
Board of Directors.
ARTICLE ll.-FLa BoG,d gJ' directors.
The following named persons are hereby |
ihosen and shall compose the first Board Of |
Directors, to serve until superseded by the |
lew Board to be elected on lhe third Monday |
II July, A. D., 1884: Benjamin 7 Flanders, |
J. W. Bryan, r%D W. Flanders. DapI J. |
Zoos, J.. Kaufman, F. A. GallaugheT, VIM. |
Meyer. Gabriel A. Fouruct and Chas. Miller.
ARTICLE 12.-E7cctim, # u P'cadeat and
Fjce-F,eSjde4t aJtd their DutieS
The Board Of Directors shall at their first
Meeting elect from among their number
resident and vice president OF the Corpora
ion, provided always they receive not less
han a majority of the vote Of the whole
soard. It shall be the duty of the president
0 preside at all meetings Of the Board; in
ase of absence or inability TO act, the vice
resident to act instead and for the time be-
ng to haye and exercise the full powers Of
he president.
ARTICLE 10 Diseowsting.
The number of directors necessary for dis
OUnting notes and drafts and urcha sing
i
y7laRs of the Corporation, but for u G trans-
ction Of any other business by the Board
lajority Of Directors shall be required to
lrIn a quorum, and the decision Of q majoT-
y Of said quorum shall be valid and binding
.RTICLE l4.-Ebrsw Qg Directors TO frame
By-Ldses, Elcct C,JseerS, DC.
The Board Of DirecBofs shall have full
over to make bylaws, tley shall ppoint a
lshier and all osaesls aud employe Of this 4
and fix their salaries provided,
lat said appointments be mGde annually,
i'd held subject to removal at the pleasure
the Board; regulate their duties and the
curity 10 be given respectively, wipl power
ChaIige the bylaws whichever the Interest 1
ID order OF the business Of the Corporation
,mand il; and to appoint agents within and
It of the State, under restrictions to be pre-
rbed by the Board.
ARTICLE -Dttfdelds Ifr,r Dtride'. :
The Board OF Directors, after paying I'll L G
penses of the CorpoTatioR, shall twila in 4
ch year, II the profits of the business jus ify |
declare and pay such dividends out Of said .
rplus profits us they may deem expedien Z
1tiee Of the same shall be given by publ /
tion Ia one or more newspapers published {
the Town Of Lake Charles, at the discre-
n of Ghe Board Of Directors. 4
2TICLE 16-FRiug Vacancies .. Bodrd. 5
The Board of Directors shall have power to :
any vacancy that may occur IN the Board. -
iTICI4E 17.--Iiog Vacancies are AGdc Gj,d
Dtclged
aeaneies In tie Board of Directors nay
declared Id consequence OF death, resig- ,
riOn, want of requisite number Of shares,
olyeney, QE absence without leave sixty 4
lseeuttye days, Il
ARTICLE II, = 7faiigsr Of Stoak. z
Every transfer Of any share or shares of i
1ltaI stock shah be made on the books of
] Corporation, aud shall be signed BY the
sre-holder or Ills attorney.
ARTICLE le. C1ose N zfaagsr Book.
rhe Board Of Directors may close the
nafpF hooks as often as COnYeDienge may