New Orleans daily crescent., 1857-06-08
INSURANCE.

& INSURANCE. &
& y sasH FL Sss ~
5 s d @
ts N
leans Aforesaid duly commissioned and sworn personally
@ s @
ions Of the statutes Of the State Of Lousna relative to the
snd agreed presents sovensn l agree
and ose @ hey to
the objects and prpses and under the spulaons rsgu"
%ig ARTICLE 1.
This Company established and domiciated
city New shall be known designated by
M sss half saSe
been Subscribed and shall exist during twenty five
dated BY Of At least twhrs Of dc memSers Of the
s 1t a he NTH @ s sn @
ARTICLE II.
sbects and purposes this Company are declared to
Frst-To make on stores or other
buildings household furniture merchandise other property
against los. or damage by fire,
steamboats, goods merchandise specie bullion
as ss fy to
make an and every appssnng or with
kind Of every and all insurance objects
And Company may itself be reinsured against
any rik upon which may have made shall make insu
Secretary the Company shall be proper
whom to citation in all suits against the Com
pany.
ARTICLE III.
The capital stock Of the said Company shall be three hundred
hundred dollars each for which each subscriber shall pay
on the amount Of his cash Immediately
balance he shnli furnish his three the
respectively four eight Twelve months from their date for
which said cash and notes receipt shall be given by
Of the last Of said three notes the shall be entitled
certificates of stock for the amount of their subscponro
ydeh, 1t shall lawful
up th full amount Of his subscription @ in cash in which he
annnm % @ on Iai such h payment, pay as.,. ,oa,.
personal property shall be transferable according 10 such
rules and under such restrictions the Board of Directors
stockholder shall in be liable losses
the Company beyond and above the of his subscription
-.... ARTICLE ".
by board nine Directors Which shall have
the Es5 Monday Of june in each
of New Orleans, Of which ten days notice shall be given in
h city, and has in
the second Monday succeeding their and hold the
elected But should such eIeeon happen from not
ss sSpsGG" Il
office shall continue SO until their suce fors are elected and
ali such elections for Directors those persons receiving
plurality of the votes actually cast shall be considered duly
ali elections each stakeholder shall have the right
vote for evey Of stock may own; provided no
s ne @ @ poe sti hat be s@e n
have the right 10 upon any may have been
Fse I osr % o ys at s @ meet
@ Sa cs % t % o s G s
his elected They shall appoint Secretary and
f"s @ he sPs nS sssssnt die
The President shall preside at all meetings of the Board and
conduct the business S te genes under The
the policies of which shall also be counters ed
in
edent tor the interest of the But there shall be
and he h S
submitted to them for and such statement shalt
The Board q Directors shall ix the compensation the
shall invest the profits of the company from time time
hereinafter provided for they shall have such
proper Of the company contrary this
lions; they shall the premium which insnrances
shall effected by this and they shall have
corporation and fill all that may Board
have appoint of their members person.
provided he be member Of the compnny TO act in hs stead
time iii the duties and powers ihe President
OSws sses m eR pf % e
to-T: r Forsal Y. B9gert' " Logan j., r, 6.
borne j. = Beye whose Of shall continue
until the second Monday of June eighteen hundred fifty
eight QS5S) until their successors duly qualified
ARTICLE V.
THE expiration Of every six months from the organization Of
the first Board Of Directors shall be the duty Of the officers of
to sase an estimate made sworn to by the President
Premiums have actually been received dring that tine from
Which shall be denG,ed the actual 80 losses and and
o Of the net profits made reasonable portion shall be
vded for provided less than len cent Of such profits
divided rata the stocks oder and paid them cash
ARTICLE VI.
II shall be lawful for the Board of Directors invest the funds
Of the Company in bonds and on and
frson They may also invest the funds of the Company in all
this State or Of his city, and may loan upon the security
stocks And the Board Of Directors may generally invest The
is not to the provisions Of th
its own stock are specially prohibited.
The Corporation prohibited from holding any real
BY The Board Of Directors and majority The stockholders
se Ss @ o me
property wch be pledged the Company
Of s Be s
nnies Of for S"
s bs % ss esy convened should that the
ARTICLE VII.
There shall be created BY the Board Of Directors
ion Of not less than ten s cent mt Of the pet profits
5 ct
and from any other sources than premiums and this fund shall
mgm and AL other cash funds shall have been exhansed
and dollars after which the moneys spproprae til
shall be d yided s pro rata among The At the same
And the said fund hundred thousands dollars shall
| sured.
ARTICLE VIII.
At expiration Charter or sooner if ordered by
Of thirds of the stockholders, affairs of hi,
nIsr the csrge and saperinendence Of ' be
apponted for that purpose by majority of stockholders
vote Of three the stock represented at spsc meet
ing of stockholders for purpose provided
such stock represented amount to three os Of the whole
the Ti sap 81 st stock l Of d. said a., COMPANY: