New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-10-13

John Candy, i. Bordeiois, + Hickman,
!. + f. R ha,sT' ). n wagner, j. e. ScLeapn,
Theodore Frois, W Kent, Magin Puig
J. + s s9nnsisn & T0HE Herr WI B. G Gaass
.n a insure viz @ aS s
Of credit the books Of the Company be issued ~ herein
end shall have the n 10 s II Pc 3 oo Gy RoTy all
pany not discharged 4udaad By lcses sustained
issue thereof shall entite the holder for every
he aoun d one thousand dollars then each hundred
amount Of he certificate shall reach the Jun Of dive thousand
dollars, when each one Thousand dollars more shall be entitled
shall have been transferred the person or finn claiming
vote within six months prior such election.
ARTICLE SEvEsTH-The Board Trustees shall have the
power invest from time to time one half Of the profits OF the
cambered real estate in the Parish Of ofean and City Of Jsl
and in every case the property mogaged shall be worth
They may invest the cash surplus profits Of the Com
M aw 81 he United stae or Of his STATE or q @ cy
and may make loans Of such cash surplus profits pledge Of
The Company may hold real estate not exceed
ing onefoufth q ~ net profits but he B9ad Of Trustees
morgaged The Company any forced sale of the
promoted should require suc plfchae TO from
ARTICLE EGaFnhe officers Of ihs Company stall silhio
from the lime the first policy Of insurance shall hive been
year cause au Estimate be sworn q 81 The PEI
ending including Of insurance. daring The
period embraced sacd esta distinguishing between Fire
Marine and River policies winch ente sa conclusive
upon persons entitled o certificates Of profits
matter provided fq and shall thereupun charge each insurer
pany according the amount of he premums by HIM paid
ns and shall credit him with the OF said premiums
a ssso @ s e snd for he bpa 9 q c s
shall then b n y9 q 4 ha BE- en
ing interest " he re per cent per annG payable on ,he
aona @ Of efb apd and
for and all subsequent losses sustained by the Company
indebted the Company premiums credited him
aforesaid and shall not have paid dc ssme The
suc certificate pledge for The payment of the
and Il shah always remain liable 10 hs COMPANY of
any indebtedness of the party whom shall have been dsv
FIRE issuing Of The certificate and transfer heeoi
& be made o. ba ofn o. s until such
And any certificate certificate Of profits shall not
from The date q heT issue then lie same shall BE- Cancelled
and the thereof with ~ the aisres accrued thereon
he book Of hs ~ Ss gg noe Py
published in city which notice shall forth the amo mi
the eedesie and the name Of tho party entitled The
dollars and parts Of tens Of dollars
Of he expenses and charges 81 The succeeding year
company, and with ts consent.
Of h Company y tseng ,heeiS ha 6e
receives his policy the rates that shall be determined
from he company except provided in The noSt article but
shall be liable for all the losses and incurred
GompanV=
ARTICLE TErT-Wheneyer theacehmuated net profits shall
the Of five hundred dollars the may
thereafter be employed from year to year. 10 he redemption
whole or in part OF each years cerhcates OF profits issued by
virtue Of the eighth article but the certificates of shall
be redeemed until those Of all the preceding paid
and extnguished &C.,.
The Board of Trustees however, at any Of their
meetings. by the vote Of thirds of tho whole of their
ber alter and amend TINS article rs TO require aecumua
lion of prohs 70 an amount OF one million Of dollars before the
excess shall be applied the redemption OF cercates as aore
said. -
ELEvEHTHOn day in the first month after
the expiration OF the rs Of October 1851 from the Issuing of
the first policy and Within the hrRt month Of succeeding