True American. [volume] (New Orleans [La.]) 1835-18??, 1839-09-24

contributed TO this limited partnership, as fol
lows. -
l. Duncan F. kenn"r of the parish of As
ccnsion, for three shares, two thousand
and four hundred dollars. t2,4O1
2. Henry Nc all. of the sam parish, for
three .hares, two thousand and ionr humid
rcd dollars. 24OO
3 John SlidclI, of this city for three shares
TWO thousand and four hundred dollars 2,4OO
4. Christopher Adams, T. Of this city for
three shases two thousand and four hundred
dollars. 2,4Oe
vii lam Hamilton Avery, Of this city.
for three shares, two thousand and four hun
drcd dollars. 2,4M
6. John $. Preston, Of the parish Of AZ
cenx,on, for three sharcs, two Thousand and
four hundred dollars 2,400
7. John Stephen David, of the parsl, Of
St. james, for two shares, sixteen hundred
collars. 1000
g. John S. Armand o. the parish of ST.
james, for two shares, sixteen hundred dol.
lars. 900
O. Paul IIebcrt. of thc parish of Ihcrve,
for share, eight hundred dollars 800
10. Aaron HAr,, Of Pittsburgh for scvnn.
teen shares, thirteen thousand hundred
dollars. 1860
$4,000
5. This partnership shall commence on the day
of date hereof, and the operations Of the
endu terminate, anu lHc COHCeTnS tneTcOl sIlil DC
wound up ut the expiration of twelve months from
the date Of this act.
7. There shall be appointed BY said association
upon the meeting Of any five of the stockholders
thereof convened in the city Of New Orleans
utter two days notice in Of the public gazettes
Of said city, board which shall consist Of three
directors to be chosen from among the stockholders
of said association, and in like there shall
be an agent appointed for the same.
The board d1lof d,rtors of this institution,
ahnhave flu Ia powers &C authority to max e such
rules and by laws may not be Inconsistent with
this act or with the law afore recited, upon which
this partnership is founded and specially they shall
have power direct the mode ofrunning said boat,
and regulating hot voyages or trips, times of dc
parturo and return, rates Of charges, &c The said
board shall also have the power to investigate the
accounts Of said boat, as well thro' Themselves, a.
through the agent thereof and generally to super
vise control and direct the of the employ
ment 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 ard
others in the employ.
The d,rccto shall also have the powers to fill
up all vacancies (tor uaexpred tcrm) arising in
said board from DEATH resi- gnation or otherwise.
The agent Of said boat shall reside III the city of
New Orleans and shall under the FLAWS of said
board, collect the debts due to the association, and
if any there should be in suit in The name OF sad
association, and also in like manner disburse their
funds, for necessary expenses and claims and un-
dor 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.
g. The directors of said association shall continue
in office during the term of six months, from the
day of their election and until tho election OF
new board, and such new board shall, If possible G,
DO elected one week after notice aforesaid, and
prior to the sxpir ton OF the term of the older
preceding board. The agent shall remain in office
at the discretio Of the bourd, and the board shall
determine his compensation and the manner Of pay.
ing the same.
| 9. At the period therein before determined for
the expiration Of this co-pnrtnership, the affairs
thereof shall be settled, and the same liquidated
and wound up by the last bard Of directors Of said
association or the surv vor or survivors ofthem.
10. The persons trusted with such liquidation
shall cause to be made full and complete balance
sheet of the debts and credits Of the association.
and they shall we'll and truly discharge and settle
out Of tho funds Of tho 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 discharged, they shall mako
ust and equal r, partition among tho stockholders
of said association their lawful representatives,
pro rata, of the stock respectively lie by them of
all the re- mining funds of said partnership; and
for the purpose OF efIecting tho liquidation of said
concern, the persons who shall be the quidaors Of
the same shall have full power to sell said steam
boat and her appurlcnances at pubic auction, after
advertisement dur'ng once week IN the usual
manner, al such credits and on such terms and con-
dltions Us TO them shall appear advantageous, and
sha have also full power to cause to discounted
without recourse ali notes, obligations and credits
whatever, belonging unto SAID association, whc.
ther arising out OF Inc sale OF sad boat, her earn.
ings, or otherwise PROVIDED suca discount may not
be mado al rae exceeding Ten per cent per an
nnn,, or even t" sell without recourse aud at public
auctinn after the nsH' notice. I'll nn'os' claims and
credits, belonging unit" SAID association, On such
terms as they may think III.
| III. The d'v'd nd" OF profits, II any there shall
be, made by sald association, shall, after paying all
deht., argos and expenses, he d carcd al the end
OF every six months s"cceeo'hS inc a 'e t'ereoi.
IL. This act of assoc ation is expressly based
upon the aforesaid act OF the legislature of this
State, approved tho thirteenth OF March, eighteen
hundred and thirty ven, and the atorcnamcd
members of this limited CO partnership hereby
declare that il is their intention to avail themselves
<in making this nssocintion) of all the privileges
and immunities in the eaid act of tho legislature
contemplated, mud specially OF the privilege of
exemption fir IN responsibility for the dents and
obligations of said association beyond the amount
Of tho par value of the stock BY item respectively
held, CONTEMPLATED IN the eighth section of SAID
a t. and all prlvIlcdgcs granted or responsibilities
imposed by SAID &C. to be taken AMI considered
as embodied herein.
l3 The said co"par nership hereby elect the city
OF New Orleans US the place of doncil of said as.
ISOLATION, anu determine that the master or clerk
on SAID ooal LOT inc the oe'"g' OF e''"os "' 1hem
sign bis OF lading to b'nd the sad for
unnH