New Orleans daily crescent., 1860-11-24

ARTICLE sxrHEyery person who shall hereafter insure
M % own % Or IL dsag h name % s his n firm % 5dTs
aer provided for shall be deemed member ef the Company
and shah have the g Y vote In per9n q 6y PoTy e ~
pay h9ged qpdaed by cses sustained after the
naed s onrs uh be amount Of lie cercae shall iaSc
the Of thousand dors and then each Eve hundred
amount Of certificate shall reach the Of FIVE Thousand
10 enc additional vote Provided however et such
shall have been transferred TO The person hfm claiming
vote within six months prior to such election
ARTICLE sEvEXTHThe Board OF Trustees shall have the
power from TING o time onehalf Of the profits the
GumcTed real the Parish Of Orleans and City Of Jeer
G and Ti h me- @Gea snail 0' worth
They may also invest the eash Or surplus profits q the Com
e laws OF the United States Or of ths STATE q Of ts e
any of the aforesaid securities, bonds or stocks.
Ie Company hold Iss estate to ~ amount not exceed,
purchase in addition, property which may have been
Rer opnion lie interest of Tie Company viii thereby be
promoted should require suc purchase 10 save it from loss
aRTtcLE EiGH1HThe officers Of the Company shall within
one frs Of October eighteen Iundedand sixty
from tie time &c rs hosF Of shall have been
year estimate be made sgon TO BY the Presi
endrg Including statement of inuranees effected daring the
period embraced in such estimate dsngRShIng between Fire
unon all persons entitled receive certificates Of profits here
Rh poportidnai shaTo Of lie Losses sustained BY he Com
pRny according 70 the aonnt Of ihe premiums b him paid
miuns and shall credit him with the amount OF said premiums
S mSs4y s from and fo tie balance Wh
shall then 70 be in feyof o he insurer he sha be en
ing interest q the ste o per cent psr anna PAYABLE On The
sinns provo that the amount therein named shall be liable
FOR and ai losses sustained by he Company
indebted the Company for any premiums credited to him on
to fe certificate eNgibe the company shall have right
retain such certificate pledge for the payment Of The sud
and delivered it shall always remain liable to the Company fo
cred or unpaid premiums whether such Indebtedness arose
fore after Issuing Of the certificate and no transfer
indebedness shall have been entirely extingnshed
he anf r sss ~ W he within ee @
from the date q their sue then the same shall be cancelled
shall placed the credit Of The Contingent aceomf OF
Fpe9e Pe9es 9 and o thirty days. in z the
published this city which notice shall forth the
of the certificate and the of the party entitled the
In ISSUING the said certificates of profits less than
s6a be and shall BE- placed he credit Of e Con-
tngen aceount" of the Company and applied to the
The Certificates shall only be transferable he books of
mRTcIh NsTn-Esery person who shall become member
Of this Company by eectn insurance heen shall before he
receives his policy The rates thai shall be by the
Trustees and the amount 50 paid shall never be Withdrawn
S sha s be Sbe tG ali lie expenses incurred Ss The
ComuanY
he sun Of fve hundred the excess may
thereafter employed from year TO he redemption in
Sps II i + s 5nf tie eercas f Of one ha
be redeemed until those Of all the preceding years ae pait
Tbs Board 4 Trustee hoxeys Ct any Of their annua
ber so amend this article as require accnmu
profits amount OF million of dollars before TIT
shall be appiedto the redemption OF certificates afore
| said.
ARTICLE ELEyrsTH-on day in the rst month afte
the expiration Of the first of October S6 from tse issuing
the policy aud within the first month Of every succeeding
year oGs of the Company shall to be made unde
oath shall publish according 10 law, General Baanc
sgtement Of the Affairs q The Company which shall contain
FirsIhe amount OF premiums received during the year jus
ended specifying separately the amounts received Fire Pol
icies Marine Policies and River Inland Navigation
Second-The of the expense Of the Company durint
Fhird-The Of losses incurred during the year dst
puishug between Fire Risks Marine Risks and Inland Trans
] portaon and Navigation Rsks.
Fourt-The balGnce remaining with the Company settin
forth the Of cash hand and the invested
securities. and the nature of such securities
ARTICLE TwELFTH.-The Stockholders of the Company
notice the published in this city shall hav
the power 10 make any changes additions or modcaton
incorporation To dissolve it provided tina
Of the vote represented nj such meeting shall yot
in favor of such proposed measures and any and all sue
change, addition or dissolution shall be recorded rs required
ARTICLE THRrrENTHAtth the expiration Of the term Of th
act Incorporation its earlier termination provided
article twelfth three Commissioners shall be appointed by III
Of Trustees, under whose superintendent the affairs
the Company shall he qudaed its debts and liabilities pat
the nce Of its funds shall be appropriated to the fedeml
ton Of the certificates of profits rd and without distincte
of dates the shall continue until q
business of the Company shall be entirely closed and settled
and in Of the death inability Of either the survivor aOr
shall aCt.
ARTICLE FouRTEESTHIn addition to their share of prof
in the business of the Company the original subscribers sha
be entitled receive for the first special Interest Of eig
the amount OF premiums credited their subscr
tion notes. which shall from the average
credits until the rs day of October eighteen hundred
| sixy-one.
THUS done and passed my Office city of New orle
aforesaid, in the presence Of Marcel T. Ducros and Anton
Conand witnesses Of lawful age and aomcaed in said cit
who hereuno sign their together with the said appeare
said notary the day and date forth ia the eap
hereof c., D, ,s. It -, -