BoletiÌn mercantil de Puerto Rico. (San Juan, P.R.) 18??-1918, 1901-12-26

OF Il e.bank IN London, Paris and the new
American possessions. The corporation q
intended to enter into serious competition
with the great English banks, through
which most Of the foreign exchange opera
tions of this country are conducted. It may
cut into the profits OF some of the foreign
banking houses doing business in the tropics.
Tue charter Of the bank has not been
published and is interesting because it limits
the corporation practically to nothing. It
| is doubtful if there has ever been capitals
| tic association endowed with such extensive
power to embark in all varieties of business
enterprise. The official address of the COM
pany is Bridgeport, but subsequent provi-
sion makes it necessary only to retain an
attorney in that city upon whom papers
may be served. The section defining the
purposes for which the company is form I'd is
as follows:
To transact the business of merchants,
manufacturers, miners, commission mer
chants, agents Of every kind, shippers, build
ers financiers, brokers and contractors and
concessionaires, in all the forms Of any of
said kinds of business.
To engage in the general banking and
trust business, to receive deposits of money,
to buy and sell exchange, coin and bullion,
to buy and sell, make and issue, discount,
negotiate and indorss promissory notes,
drafts, bills and bills Of exchange, debent-
ures, bonds, obligations or other evidences of
debt and other negotiable or transferable
instruments; to loan money on real, per.
sonal or other security; to act as a fiscal or
transfer agent or registrar of stocks or bond
of any state, municipality, body polite or
corporate or association.
n To act as trustee under any bond or
mortgage, and to act as guardian, admins
traitor, executor, receiver, committee, con-
servator or trustee Of any estate, person,
firm or corporation. public or private, for.
eign or domestic, and TO undertake any
other trust or duty or agency whatsoever /;
to purchase and sell stocks, bonds or other
!. obligations of any municipalities, bodies
politic or corporate, and to guarantee the
lpaymeut thereof; to engage in a general
safe deposit and storage business.
To construct public or private works
outside of the state OF Connecticut and to
operate the same; to construct, purchase,
Icharter or sell vessels and engage in the
business of transportation by rail and by
water outside of the state of Connecticut,
and to carry on an express forwarding
business outside Of the state OF Connecticut !;
to buy, hold, sell, lease, rent and improve
real and personal property, and to mortgage
and pledge the same; to undertake and
execute, any and every kind Of contract, and
t, transact and engage in any other lawful
business whatsoever.
To establish branches in any part or
parts Of the world to acquire the good
will, rights and property of any person,
firm, association or corporation and pay
for the same IN cash, in the stock of this
l.company or bonds or otherwise; to as.
sumo the undertakings and liabilities of any
lpsrson, firm, association or corporation, and
to have any and every power and possess
any and every right or privilege necessary
to the full ard perfect performance Of all or
any of the foregoing objects, the same as if
such rights, powers and privileges We're
herein fully set forth.
1t is further provided that 'tmeetings OF
the stockholders may be called whenevsr
and held wherever, within or without the
state, the board of directors shall deem
proper, and notice of such meeting, whether
stated or special, shall be given in the man
ner to be prescribed by the by-laws.D
1 AuS wi pOIotkVn ~ dubuOIhA0u W ubV0
one or more offices, to carry on all or any
OF its operations and business in any state,
territory, dependency or possession Of the
United States, or in any foreign country
without restriction, "to the same extent as
natural persons might or could do" in any
foreign country or place.
The directors have the power to make,
amend and rescind the bylaws and to
authorize mortgages and liens on the real
and personal property Of the corporation.
No stoekholdsr shall have any right OF
inspecting the accounts or books or docu-
ments of the corporation, except as con-
ferred by statute or authorized by the di.
rectors or by a resolution Of the stock
holders.
The corporation may confer additional
powers upon the directors, prescribe the
number of them to constitute q quorum
which number may be less than 3 majority