True American. [volume] (New Orleans [La.]) 1835-18??, 1839-09-07

rules and by laws as may not be inconsistent with
this act or with the law afore rccited, upon winch
this partnership is founded and specially they shall
have power to direct the mode drumming said boat,
and regulating hor voyages trips, times Of de-
parturo and return, rates Of chargcs, &c. The said
board shall also have the power to investigate the
accounts Of said boat, 40 well tlro' themselves, as
through the agent thereof and generally TO supor~
wise, control und dlrect.thc course of the elnpoy-
ment and tho administration other funds, and to
that end they shall be authorised to give all fitting
and proper instructions TO her agent, officers ard
others in the employ.
The dirncto shall also have the powers to fill
up oil vacancies (tor uAexprcd tcrm) arising IN
said jboard, from DEATH resignation or otherwise:
The ayent of said boat shall reside in the city OF
New Orleans, and shall under the by flaws OF said
board, collect the debts due 10 tho association and
If any there should be in suit in tho name OF said
association, and also in like manner disburse their
funds, for necessary expenses and cnims, and I'M
dor tho like directions keep just and true books OF
tho accounts, dealings and transactions OF said as
ISOLATION ut the Office which shall be scclcclea by
the said board in this city.
g. The directors of said association shall con'lnnc
in Office during the tern, Of six months, from the
day of their election and until the election OF
new board, and such " board shall, it possible,
be elected week after motto as aforesaid, and
prior to the 9SpIr ton oil mo term OF Inc o,ucr
preceding board. The agent shall remain IN oihce
at tho discrctio Of the board, and the board shall
determine his compensation and the manner OF pay
ing the same.
3. At tho period therein before determined ior
the expiration Of this co-partnersh'P, the affairs
thereof shall be settled, and the same lquida,cu
ana wound up ny the last DnarG oi d'Fecl"IS VI sal"
association, or the surv vor or survivors OF them.
10. Tic persons SO trusted with such liquidation
shall cause to be made u full and complete balance
eheet OF the debts and credits OF the association:
and they shall well and Truly discharge and settle
out Of tho funds Of the association, consisting, of
said boat, her earnings proceeds the lawful debts
of said association, and when all the debts and
claims Of and against said association shall nave
been fully paiu and discharged, they shall make a
.;ust and equal partition among tho Stockholders
ofsud association or their lawful rep'es 'ntatives,
pro rata, of the stock respectively he BY ,hem of
all the 70 nuining funds of snid partm rshlp; and
for tho purpose Of cflccting tho liquidation Of said
concern. the persons who shalt BIO the liqudators Of
the same shall have full power to sell said steam
boat and her anpur.cnanccs at public auction, alter
advertisement during once week in the usual
manner, at such credits and on such terms and con
ditions as 10 them shall appear advantageous, and
shall have also full powcrlo cause 10 b discounted
without recourse, all notes, Obligations and credits
whatever, belonging unto said association, whc-
thor arising out Of tho sale of said boat, her earn
ings. or otherwise, provided such discount may not
he made ut rate exceeding ten per cent per an
mum, or to sell without recourse and at public
al Il