True American. [volume] (New Orleans [La.]) 1835-18??, 1839-09-26

dollars. l,6U0
8. John S. Armand, o! the parish Of St.
james, for two shares, sixteen hundred dol.
lars. 1900
0. Paul IIehcr, Of the parish Of lbcrville,
for one share, c'ght hundred doIlars 800
TO- Aaron II .r, Of Pittsburgh, for seven.
teen shares, thirteen thousand six hundred
dollars. 1860
1872, 900
5. This partnership shall commence the day
Of date hereof, aud the operations of the same
snail terminate, and tho thereof shall be
wound up Il, the expiration of twelve months from
the date of this act.
I. TAcr. shall be appointed BY said association
upon the meeting Of any five Of the stockholders
thereof convened in the city Of New Orleans
after two days notice in of the public gazcttcs
of said city, Il board which shall consist OF three
directors, to be chosen from among the stockholders
of sad assnci .tun, and in like manner there shall
be an agent appointed for the same
! he board d7iof d,rtors of this institution,
al,nhavc flu la powers &C authority to max such
rules and by laws may not be moons istnnt with
this act or with the law afore recl,cd, upon which
this partnership is founded and specially they shall
have power to direct the mode drumming said boat,
and regulating he voyages or trips, times of de-
parture and return, raics Of charges, &c. The said
board shall also have the power to investigate the
accounts of said boat, well thro' Themselves,
through the agent thereof and generally TO super
wise, control and direct the course of the emp oy>
Inent and the administration of her funds and TO
that end they shall be authorised to give all fitting
and proper instructions to her agent, officers unt
others in the employ.
The drrc,o shall also have the powers to fill
up all vacancies Uor uacxpired tcrm) arising in
said board, from death, resignation or otherwise.
The a.ent OF said boat shall reside in the city Of
New Orleans, and shall under the by laws of said
if any there should be in suit in the Of sad
assoLiation and also in like manner dsbursc their
funds. for necessary expenses and claims, and UNI
der the like directions keep just and true books OF
the accounts dealings and transactions Of said as
ISOLATION at the Office which shall be selected by
the said board in this city
The directors of said association shall continue
in office during tn term Of six months, from the
day Of their election and until the election of Il
new board, and such W board SHALL it pnssb e,
be elected one week after MOTTO as aforesaid, and
prior to the nxpir ton Of the term of the older
preceding board. The agent shit remain in office
y, the discrcto Of tn: board, and the board shall
dc.ermine his compensation and the manner of pay.
ng the same.
At the period therein before determined for
the expiration of this co-partnership, the af.irs
thereof shall be settled. and the same liquidatcd
and wound up by the last 'ard of directors Of said
association, or the surv vor or Survivors OF them.
10 The persons trusted with such liquidation
shall cause to be made full and complete balance
sheet of the dents aud credits Of the ,ssocat;on,
and they shall we'll and truly discharge and settle
of the 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 have
been fully paid and d schargcd, they shall make a
ust aud equal PARTITION among the stockholders
of snd association their lawful representatives.,
pro rata, of the stock respectively he by them of
all tn 70 ain ng funds of said partnership and
for the purpose OF cccting the liquidation of said
copccrn the persons who shall BE- the ouidators of
tn Same shall have full power to sell said steam
boat and her n pur.cnance. at public auction after
advertisement during once week in the usual
manner at such crodits and on such terms and con
dl,ions as o them shall appear advantageous, and
sl,a have also full power 10 cause 10 discounted
without RECOURSE al notes obligations and credits
whatever, belonging unto said association, whc-
Their arising out of the sale of said boat her earn
incs, or otherwise provided such discount may no,
be- made a, rate exceeding ten per cent per an
num- or even sell without RECOURSE and at public
auctinu after the usual notice. al notes. claims and
credits, belonging unto said association, on such
terms AS they may think fit.
H. The Ovid ncs of profits, if any there shall
be, made by said association shall, after paying all
deut. C argos and expenses, be clared at the end
of every six months succeeding the date thereof.
H. This act of association is expressly bal ed
uvon the aforesaid nc, of the legislature of this
State, approved the thirteenth of March, eighteen
hund, ed and thirty ven, and the aiorcnamcd
members of thus limited CO partnership hereby
declare tina, i, is their intention to avail themselves
fin ,n,kinr this a,soci.,oul Of all tn, ivrpcs
and ,mmuni,ies IN the said act of tho LEGISLATURE
contemplated. and speciaIly of the privilege of
cycun,ion fir NJ responsibility for the dc, IL and
,,nI;n,,;nns Of g i'll ussoca,ion bev,nd The om,un,
~ H. mr. xolne or Tho stock nv i,cm arsprc,;v.lv
held. ms contcu,p .1vd N the eighth section of sad
t, aud all prvc.lges granted or responsibilities
imposed by SAID act are to be taken ami considered
as c,ubod,td herein.
IA The said c,.parincrship hereby elect tho c;,v
ot New Orleans ~ the place of ,om,cii of said ~.
.ocia,;on anu determine that the master or clerk
ON said boat io- the time being, or either Of them
shall be the agents of said association so far as to
,iyn b is Of ldnr To bind the said assoc alton for
goods received on fregh on board said steamer
ii. The s,ockholdc in said associa,ion shall
have the rig hit to vote by PROXY Ut all euc ions for
directors, and to appear nv proxy at all meetings
du,y convened
i bus dono and ma sci in this office on the ],, !,