New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-08-21
CHARTER.
CHARTER.
QUARTER OF THE FACTORS AND
TRADERS
INSURANCE COMPANY,
or New Orleans.
STATE or LoulstAsA, PAmsu OF ORLEANS:

with by subscription, purchase transfer
eien under the general law Of this State pro-
vdng fer the organization Of Corporations, and have agreed
Charter of the said Corporation:
ARTICLE FIRST
The domc Of the Corporation hereby established in
ana and i shall DO designated and known under the Of
PANY ANS0 A'zA1'0A- YIN
1t shah commence business IN or about the first day
date 81 this Charter affairs should be sooner qn
dated and settled by order of wohrds of the Of the
3 Il shall have seal and the device upon the same shall
be the insignia Justice with the name of the Company
The President or his absence the President or
tons in all suits against the Company
ARTICLE SECOND.
The objects and purposes Of this Company declared
70 make Insurance on Dwelling Houses Stores and other
erty against los. damage by Fire
To make Marine Insurance upon Vessels Freghs Steam
Exchange Commissions Profits Bank and other eyi-
make an and every Insurance appeaining to connected
with a, Marine or Inland Transportation Risks
upon which they have made or shall make Insurance
q S St e Iii %PB b fSrsg f5sd
ing it to Three Millions, divided into shares of One Hundred
2l FL < manner
Thoa5 b h9p Sen 81 b
each fiscal year shall end on april Both.
pad in full and transfer Of less than full share per
ted except at the pleasure of the Trustees the transeree
assuming all Indebtedness thereon
Transfers Of Stock shall be made the books Of the
Company its office in the city Of New Orleans only but
y any indebtedness to the Company exists the part Of
sddition to the Capital Stock Of the Company con
age9 ipnd sha be created e consist Of Al interest e.
received from other than premiums From this fund
after the current expenses OF the Company have been
At the close Of the fiscal year after dedueng the ex
TED per Cent Shall be declared on the amount Of the stock
padin and from the date or its payment at such time the
should be found nsncen to pay TIC said then the
deficiency shall be made and paid out Of the net profits Of
These dividends shall cover all participation in the proats of
s see SPan except IS provided 0f IN Article
dividend above provided for shall accumulate and shall
touched except for the payment Of losses after all
snail always So Red nsS for o he
Capital stock until the same shah amount Five Hundred
priaed from to year. the Trustees may deem ex-
ARTICLE FOURTH
An persons who baye subscribed may hereafter sub
scribe to the Capital Stock Of this Company shall pay
Ten Dollars each share in cash passing notes well
approved 70 the COMPANY for the remaining ninety cent
Of trustees may determine.
said notes shall contain clause to the if
the Judgment Of the Trustees the necessities of the
96pgny require ~ these NOES Or any portion Of them
~ the Trustees may deermne after thirty days notice
Orleans provided that less than Thirty Daya shall inter
ve9e nstween the time Of payment for each nstament.
q above provided for shall forfeit the entire stock
interest 81 bene thereuno Belonging provided that tie
Trustees may extend said payments for such time they may
Fqr ths Foregoing sposcrpsiens reeopts transfer
sgnea ~ e q secret4ry shl be issued to
gVe Naan RECEIPTS sh ee surrendered tothe Com
pAn On sus q Certificates Of stock provided for in Sec
Subscriptions to the Capital stock of the COMPANY sub
seqnen to its organization snail beupoA the
original
ton Book shall remain open subscribers throughout
the year but shah be closed to Stockholders during tie
No stocaheder shall in any event be made liable for the
A Ia " Hs l9the oaplta 5tOek ana Lis
het, OF eselr thuep1'ohess TO the Company.
TN asre externally t. carry out The objects and purposes
That the Capital Of the Company or any portion teresf
losses any other purpose until ali tho Other syaabia
of the Company shall have been first eTbssted
Of the Capital Of the COMPANY ior be i IF o P99
shall be good; nut MI earnings and profts from
whatever derived shall be until he Capital
That all dividends declared as provided for in Article III
PAYABLE % the stoeshodets or their le sna 9e mage
cash al the discretion Of the Trustees SrayidsS tbat
dend shall he paid while there exists any matred ndebte
be nsa a. be nd 81 a e hSdsT put me same shall
t t within the month Of May in each and every
ss Ha "a en- sal De made mp to prl SOth pre-
iqg the amount Of premiums received Fire River and
a not tint , ueuehg ineFeirom the amount OF
OF losses
paid on Fire River and Marine risks each reinsurance
return premiums and CASH renrn less savings The balance
w snow the het ptohs on premiums for the year From
WI paanee We Il any g provided for in Section
Article III Of TINS Charter must hrst be taken the balance
remaining sha De divided among the Stockholders Of the
company pro rata on tins amount o. earned premiums by each
shall not IN any year ezceed seventy five per of the
Capital STOCK OF the company held by each the thirty
DAY o. January o. each year and that any surplus the
tngent fund.- and provided further sum of less than
Ten Dollars any fractional parts Of Tens Of Dollars shall be
divided but that all such shall be carried credit
OF the contingent Funo.
mat no declared shall bear interest and that
dividend unclaimed for the term of three years from the
credit Of the contingent fund after the publication of the
once week for four weeks snccesvey In the Official Journal
Oh the ,oity o. Hsw Orleans
That parties insuring with the Company who are not
thHre such
Trustee may, from time to time determine that
snekho1e receiving said cash return shall forfeit claim
further participation profits the company as
provided for in section Of this article Of til Charter
That ali premiums shall payable cash under
the rules regulations from time adopted by the
Board OF Trustees
That within the month Of May 1857 every year there
profits OF the Company, provded for in section Of this
article and shall the be published at least two
Of the city papers for one mouth together with statement Of
the Of the Company distngu hing portion of same
which in cash and The portion thereof Invested in securities
aud the nature thereof This publication shall under
oath Of the President and Secretary and shall be conclusive
Autss eornorata a. mo s.td orran, .or So
exercised by Board 81 Tusees and such otheP 3ce AMI
oIaTs M +bs, r.a sryaiat $40 s1ei oshes elees anu
3 Sie Bns7d ~ Tr,stses balI Of Ave- or
(seven If whom shall form quorum for me ransaeIion Of
e e elected on the seeSad Monday In April Of each
Trustees shall desguate Of which the President shall cause
az fourteen days eeus notice TO be given in two of the
aoft