New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-01-12

preside at sue meetings. shall sign the policies of the Com
TIE Board of Trustees shall fix compensation of all officers
clerks elected employed by them in the service of the
They Sail invest profits arising from the business of the
tonuuy in the hereinafter provided for They
hereIy Invested full power frame and adopt such By
sg Ta e t tie ooany and fs aa
lion of its aars provided the does not conflict with the
i PWs of hs STATE and they shall to do
af hs Company 5U not for and Gil al
that may occur in their number;
ue he rst Boad Of trustees hereby vested with
,s e he eas u iis tie Mohdsy ocobt eighteen
siXone until others are elected IN their place
BOARD TRUSTEES:
Arnadeo Landry, Octave VOORHEES,, ". G. Be,terton,
W. i. Gordon. Theodore Lanaax, Frank Shaw,
John Candy, E. Bordelois, Z. RRestmanl
J. J. + R 5a5sts, j. r. Wagner, j G. SeIsasn,,
A. D. Grief l.. Boudousquit, Naen. Hermann,
+ N No5sSsn ~ 7oH Herr. VII CG onssr
ARTICLE sxrH-Eyery person who shall hereafter
and continue insure with the Company and every person
asss z!
e ea ions. each Certificate credit books Com
sss seo sha e
6Q II one 1h hous as
dollars more entitled additional until the
dollars when each one thousand dollars Shall be entitled
% one ID % nn n @
vote within six months prior to such election.
to invest from time time of The profits Of the
Company in 9an red By noGaGe on n and
and in every case hg properly m9rgaged shall be worth
TIey may also invest cash surplus profits the Com
pany the purchase 9gny bonds or stocks created by under
and may make loans surplus profits pledge Of
any G S e ea to aonrt not exceed
ing onefourth profits but the Board of Trustees may
%ogagsd conpany forced sale Of te in
promoted should require such purchase TO save from loss
ARTICLE EGnTH.-The officers of the Company SHALL within
one o the tine he rst pecy Of Insurance shall have Leen
issued and during first noh of each and succeeding
ent and Secretary the affairs Of the Company for the year
ending including OF isurances effected during the
Marine and River policies which estimate shall be conclusive
naer Provided r and shall hereupon charge each insurer
6nt IN no case shall spch share exceed the Of such pre-
and with sh&re in proportion thereto Of the profits Of hs
@ IN Of lie e he h Be an
led tie certificate signed by the President and Secretary
@ Non I'm
tanning proviso that the amount therein named shall be liable
for any and subsequent losses sustained by the Company
should entitled receive such certificate be
% 10 and h" ot lave pad The M a e
time The certificate is exigbe the u have the right
s @ G sa sSs f S
amy amy deSednass Of the party have been 3ey
cred for unpaid premiums whether such Indebtedness arose
made n at tl the opGn Of aS until such
be Sss sSs r aa
Ss sa Y The
s he book Of The Company after Public notice.
in French and English ri 5hry days in two Of
Of the certificate and the Of the party entitled the
M 49 pa ca tS sn as aP
shall be omitted ana shall placed the eEedit Of the Com
u e eS Sps c$gs sassssdg ~
The certificates shall only be transferable on the books of the
Company, and with consent.
ARTICLE NISTH-Every person who shall become member
this Company by eeeng RAM therein shall before he
Trustees ana de amount paid sh nsyss be withdrawn
ba he isTs to ali incurred 81
COMPANY.
exceed he sum Of Ave hundred dollars may
be employed from year ysaF to the in
srue Of liz S eeT6eaes shs
be until those of all the preceding years are paid
hSxe1sr any Their annual
Der alter and amend This article to require an aesumnla
shall be applied the redemption of certificates aore
ARTICLE ELEyEN1H-on day in the first month after
the expiration the first Of October 1861 from the issuing of
Year. The ofces Of the Company shall cause made under
and sa" 9h Gse?rdE to law Ge .s Bsance
FThe amount fPreminms received during the yeart
icies on Marine Policies and River Inland Navigation
Policies
the past year
of losses incurred during the year disti
gushing Fire Risks Marine Risks and Inland Tras
portaon and Navigation Risks.
Fouh-The balance remaining with the Company, setting
Of cash hand and the amount invested in
securities, and the of such securities.
ARTICLE TwELFTHThe Stockholders Of the Company Mt
general meeting convened after thirty days
the newspapers published in this city shall have
power make any changes additions notifications in
the act of Incorporation, even to dissolve it provided thai
reeous Of the vote represented at such nesting shall vCte
of such proposed measures and and all such
change addition dissolution shall be recorded required
| law.
ARTICLE Tu1RTEEsTH-At the expiration of the term Of this
incorporation its earlier termination provided in
article twelfth three Comm shall be appointed by the
Board Trustees under whose Superintendent the affairs of
the Company shall be qnid9ted It's debts and liabilities paid,
balance its funds shall be appropriated 10 the redemp
ton profits pro and without distinction
dates the Commissioners shall continue act until the
Company shall be entirely closed end settled
death inability of either the survivor
| shall act.
ARTICLE FouRrEEsTHIn addition their share of profits
business OF the Company the original subscribers shall
be entitled receive for the first special interest Of eight
the amount of premiums credited their subcrip
lion notes, which interest shall average Of
such credits until the first October eighteen and
eli ytI