The herald. [volume] (New Orleans, La.) 1905-1953, 1914-06-25


to change and alter at pleasure, and to DO all
such acts and things as are or NAV he nee
esSary and procpr to carry out the objects
and purposes of said corporation.
Article 1.-The dowiCIlc ui said corpora
ton shall be IN the city Of New Orleans. in
the state Of Louisiana. and an citations %
other legal process shall bee served upon th,
president OF sand corporation. or an his al.
scuce, upon the vice prcs dcui. or, IN the 4h-
sunov of these u'nycrN, upon the secretary
The >ald corporation shall have corporate
existence Tor the period Of uirety-rluc wears
Ar'lylc lII.-ihc objects uj tins corporation
shall he the accumulation If funds from frr
weekly Dr monthly ln,talIm,ur~ pald uu stock
subscriptions. interest uu loans. bonuses. zen
tails and other sources; the fund SO a,cuu'N
lated 20 be- used for the purchase ui a h,IId
ing Tor the use OBJ: this association. The pur-
chasing .u,'d.us, renting and sale of homo
stcads and other property situated ir the paw.
l>ho~ q Orleans. y. Rorua-i and Jefferson iu
tae state II Louisiana. and the lending %
funds upon mortgage security ir the sand paw
'>h'>. and up"u shares ui this corporation as
may ne provided 10y ''N bylaws; 90 borrow
money IN TIE discretion 81 - board a' dsrcr-
tors Toy litdglns N> securities, ur lu any uthcI
wan"cr. ant generally ?. dr all things ger
name Co. The homestead ba>Iuc>, permissible
"n de-, iar EEgnrII4iI law. Of 'h'N state.
l"rah"u shall hg i've ml!llnu dollars tS5uuu.-
,u,. represented hy. shares o. one hundred
dollars 'Sl'-". each, o. lee ISSUED lr fNn
forms 'I"id o. and e ur.cnt Current
stock snail De- paid Tor IN weekly Dr monthly
'nNt"iImc"tN and shall he issued ln such uam-
ueT as may he hNcd Toy the bylaws. TrnyidcN
'h"t additional payments may nc made 80
any TINE or D" any amount a. the option -
h' >h"TtG''dcf. rand mp stock shall be- paid
Toy ID iui' III inc time 81 issue. Minors and
married women MAY hold either kind -
Ni"cN m their own right. Payments on ,1r-
rem >u"ftN, INSTRUMENTS and interest shall
be due and payable weekly or monthly az the
ONCE o. The association. and all pIywcrt~
made shall be imputed a. To- the reimburse.
lTIt OF moneys Pa'd 10y account u share
- Z" the settlement OF interest due: 90 Co
,he ln>i"lntniN ana payments ON shares.
provided that the order Of IupGtatIun may &c
changed At the discretion Of the board ~
! directors.
Shareholders shall have the right 90 with
draw from the association the amount mas
m together with h,c accumulated profits due
thereon at the preceding dividend time I,,,
any charges and proportion Of losses n any
upon filing written notices Of Withdrawal
which shall De registered bv the secretary n,
the order Of their receipt. and yyithHra,,ir.,
shareholders shall be paid in rotation. as req
lstcrcd. out of the first quauprorfatrd mon u,
in the treasury Provided tba, ma, r,..r,.
than onc-half the monthly receipts shall ry,r
be used for the purpose OF liguidatinr ma
tured Withdrawn or Maid mn stool sba-,,s mn
less there should be an Characterization ~
funds which cannot be loaned in the usual
manner upon real estate
Should there be an ovcr-acc1uul3tion -.
funds beyond the use Of the association m,
board shall have the righ; 10 call i'm tnpIrdy,d
shares Tor redemption provided that maid I'm
shares shall FIRST he called in in the reverse
order Of their issue and shall he redeem,
for face value plus interest for the time i'm.
tcrvening since the last dividend period AZ a
rate to be then determined hy the hoard nf =,
reCtorS: and should all paid M shares be t..
deemed then current shares may he ralI,s
in. the oldest shares to be redeemed frs, and
at their withdrawal value plus Interest fo+
the time intervening since the date OF I'M,
last dividend AT a rate N he the, detcr-
mined hv the board Of directors Shares sba,
be transferable and duplicate certificates "a.
sued for lost certificates. in such mancr a.
may be provided in the bylaws
On January | and Tulv /, Of each wear. the
board OF directors shall ascertain the earnings
Of the association for the preceding six
months, and out Of such earnings they shall
deduct all the expenses of the association 10,
such time and the balance remaining aftc,
setting aside. If the directors see fit such an
amount as they shall deem hest. 10 a fund
for contingent losses or surplus accouu,
shall be declared as a dividend ia the sb,r-.
holders The dividends declared on current
stock shall be credited on the books Of
on paid-up stock shall be paid in cash
within thirty davs from the first Of Tanuarv
and Tulv Of each wear
Article V-The corporate powers Of TIN,
/ association shall be vested in and eyer.
| cised by board of directors IN consist n,
not less than nine or more than thirtv-fve
| a. may be fixed by the bylaws Of this asso.
citation. each of whom shall have in fore,
not less than ten shares Of the stock of tbis
| corporation. They shall be elected hy the
| stockholders on the second Wednesday in
| March 1917 and annually thereafter Auv
director CeaSing to have in force ten shares
| OF stock shall ipSo factn forfeit his seat M,
| the board Of directors