New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-08-18

sysry connected with marine
They may to DO rensured against my
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proper upon whom citations other legal docu
ARTICLE
The names and respective interest Of the parties this Act
arc a''''''' 10 Do - '''''"' sRogpEREAy 4 CO..
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Capital subscribed, s4ll,6Oc.
ARTICLE ".
Q, carrying out the objects Of this
subscribe shah their notes
q the s the s 5 81
which shall b given En- signed By The Pest
These notes to be subject to all the contingent
All premiums for those parties to be
paid in conformity the rules ind regulations the
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@ Be Ct ss
ss r. ri st
the premium which shall b snfsent equal q
their the Of Of a n NO, s1. the
ali aforesaid notes however shall contain clause
@ he sass
the that to bs due on hi. or their note
hs sae an and every plea
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said notes shall be cancelled and surrendered.
ARTICLE v.
All the corporate powers Company shall be exercised
% Board Of @ sa bs Tse1 s S esks
to e ees,ed except the year Monday Of Sep
& # k y
hs appon three he inspect
,aeh elections and if any Of said INSPECTORS
iii such yacaness The Board thns elected
the theFefrom or until others are qualified to act
h
LOWE" ALpHoSsE MILrENBERGER
e.MkA bS,xAkk. By
J. d; dRIBBis.
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i 1 \ af sihs S$Eg5R
service shall expire the last Monday of o.
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President shall another eleaon place within
n an: ss Iii
selves ofco member Of the Board. He shall hold
President shs preside at s In meetings the Beard and
g. %es Of hs ss sas 81
i Hsf, "a s s R"s5a fsssssa
ihe ocers and clerks sapoysd elected By Company
as poSdd or They shall ADOPT
such BY laws they may
ns h nor The he
they shall do all Ali acts m 81 to su the
Ocstu'i in The si Board Or Presidency. - ~ ~
ARTICLE VI.
Every person who shall hereafter with this Company
and continue be insured and person holding IN his
psn n nh no b seme
of GspaP eesse nd
BY the payment hs holder to ons
the q he certificate shah thousand dollars
na s vote n m q III
thousand dollars when each thousand dollars shall be en-
as siss s d he heea have
been transferred for shorter period than six monthh prior to
ARTICLE VII.
1t shall be lawful for the profits of the
Company in bonds and mortgages nnncunbered and i'm,
proved the city New Orleans amount not
he property shall be worth twice the loaned thereon
@ ~ Or nes s the s # s e.
State This city, and loan the same receiving
hold real estate to an amount a MOI e &c
Board ADDITION OF y yhSs s nay b
opinion it may be Of advantage to the Company
ARTICLE VII.
from n dHs Of the 1 @ shall and
date aui within month thereafter and during the first
made s and won By President and Secretary d liz Com
G % u %
and ys pose ss h b 5
for all entitled 70 receive certificates Of profits as herein
s Be- made Of the ss Al Company which they
s e s s with 10 s ss Ct
premiums BY paid, shall such share exceed
R Rs
n I 81 he s
sad Company Of he Of his credit on the books Of the
@ the ID s5e Ere a Liable for
certificate Issued for the fractional parts OF Sums,
lars but ali such fractional sums, than
be q S er % s
of the year t. which nsy apPertain o
The Company and the shall be duly entered
books thereof
ARTICLE k.
Every person who shall become member of this Company
by ectng insurance therein shall the first time he effects
may fixed by the Board and made shall
provided o shall liable lie ana
incurred by this Company.
ARTICLE
Whenever the accumulated nett profits shall exceed five hun
dred thousand dollars The be applied from year to
thereafter the redemption of each years
successfully in WHOLE part but the Of The n
shall not be redeemed until those OF the preceding
years provided for the BOARD Of Directors
either meetings. By of OF
whole number so alter his article that it hall
qure the nett profits Company exceed one million o.
dollars before the shall be applied the redemption OF
certificates.
ARTICLE XII.
On nav ay of the frs after the expiration Of the first
rer from The me aid Company shall the first
and within the month of every subsequent year, the
cers Of the shall cause to be made nnder oat
balance of the affairs of tho said Company
which shall The amount of premiums received dur
mo e year inst ended distinguishing the amounts received
s nnses on marine policies and inland navisa-
ion noces q Of expenses Of the Company
ing ta sane The losses incurred
year between fire risks marine risks and inland
navigation risks The balance remaining
| with the Company setting forth the amount uf capital the
cash. and the invested in securities and the
| nature of such securities.
| ARTICLE XII.