New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-08-09
CHARTER.
CmARTER OF THE FACTORS AND
TRADERS
INSURANCE COMPANY,
OF New orleans,
srArE OF LOUISIANA, PARISH OF osIFANs'

S Sns @ ss otsaalson Corporations Agreed
nnSn the following snpuations to the same the
Chatter Of the said Corporation:
FIRST.
The d9mc Of the Cooperation is hereby established in
ana shall be designated and known under Of
THE FACTORS AND TRADERS INSURANCE COM
shall commence business on or about the first day of
date Of this Charter nnless its affairs lqui
aed and settled up BY order Of twohrd Of votes of the
Il shall have seal and the device upon The shall
be the insgne Justice with the name of the Company
The President or IN his sbsenee the Vice President
tions in all suits against the Company
ARTICLE SECOND
The objects and purposes of this Company declared
Il make Insurance on Dwelling Houses Stores and other
buildings Household Furniture Merchandise and other prop
erty, against los damage by Fire
boats doo Wares speee Basn Bs o
Exchange Commissions Profits Bank Notes and other cyl
make ~ and eysy i9sganes sppertajnpg to OF connected
To cause themselves to be rnsured against any Risk
upon which they have made or shall make Insurance.
ARTICLE THIRD.
SIos Dollars @ pfiv fS5sss
% for ~ be niG saa as5 q ons
hesesfeT provided Article Fourth d this ohaFter
Hundred Thoasaad Dollars shall have been abscrbed but
NJ Ge ss II soe a & issued until the same is
paid in full and transfer of less than full share per
assnmng Al indsstsdness thereon. 1''ss' ~
transfers OF STOCK snail be made the BOOKS OF the
e. IL ohce IN the city Of New Orleans only but not
while any indebtedness to the Company exists the part Of
In addition to the Capital Stock of the Company
ceSs II gots On IL eags ma % sTns 81 a " feesS re-
received from other than premiums From this fund
paid dividends q interest sha Be made to stockhodefs
a. eGs o q IT, he Ggn ysa s5eF deaGas hg 1
Of u per cent shall be declared the amount Of the stock
may direct; provided t6st TIE eoasinsent fund
should be found insufficient pay the said interest,"
of he of
Those dividends shall all participation profits
Company except hereinafter provided for in Artcle5
Any excess Of the after payment Of the interest
dividend above provided for shan seeamulat and shall nosbe
Il dc Company except he Capital Stock shall have been
ta ana n5 sf always e h9d as % @
Thousand Dollars the surplus beyond which may appro
pedient,
Article FOURTH.
l Az persons yh9 have subscribed hereafter sub
before the first business day Company per cent Or
Re- op III fas Rose nf
q Ninety Dollars per share payable at such times as the Board
sad notes shan contain clause tobo effect that if in
ba W M G HI % s anna n ang n 9ofon e sqe
heTeof published il the official JOURNAL Of The City Of New
Orleans provided that less than Thirty Days shall
yene Ssween The time # payment for each nstament
a. aboVe provided or ba forfeit The Stock e th
Company together with all accumulation thereon and all
Trustees may extend said payments for such time they may
ab signed by President Secretary shall be issued 70
@ eB h e Bsad e ss os and
Rns On ssgs # Certificates Of stock as provided form Sec
Subscriptions 70 The Capital Stock Of the Company sub
ssa 70 snail ''apoa a' same terms " Ao
Until the whole Capital Stock is taken up the subscrp
ten Book shall remain for subscrboB throughout
the but shall be closed to Stockholders during the asI
three months of each fiscal year Of the Company.
No Stock holder shall any be made liable for the
9sses Of the Company IN any rg,r sum than the amount
her, or their indebt, dness to the Company.
ARrioLE ErFrH aaa
G more eYStpfy Il ssSEy q. tas objects and purposes
That the capital ct the Company, any portion thereof
once subscribed SHAH never be used for the liquidation Of
resources Of the Company sh have exhaustsd
Whenever shalt have been necessary to any portion
Of the Capital Of the Gomany for the liquidation losses
otherwise dividend shall be declared paid said
losses shall be made good SuS all earnings profits from
SOURCES derived shall be reserved until the Capital
That n dividends declared provided in Article III
payable % Stockholders, their legal representatives, IN
cash Y Ole discretion Of the Trustees provided that dl
Of whatever Kind against the holder but shall
be passed e the credit Of SAID until satisfied
year the annual statement shall be ade April sOh pre-
ing the Of premiums received on Fire River and
Marine risks, each dedactipg thsreom the amount of
paid on Fire. River and Marine risks each reinsprancs
will show tine net pohts premiums the year. From
this BALANCE The deficiency if ny provided foin Section
then resinng stall be among the oekhoers ii ths
paid II within lie provided that tie amount 20 dyded
nS T. my one year esceed seysny five cent Of the
day o Jenuay oeach year and that surplus over the
tnge fund.- and provided further no sam of less than
fen Dollars nor any fractional Of Tens ofDoar shall
divided but that oil such shall be carried the credit
Of the Contingent Fnda
dividend unclaimed the term Of three wears from me data
declared shall be forfeited the Company carried to the
for oaI the Official journal
THAI parties insuring with the Company who are not
theren may receive such cash return as the
S said essh Estrn shall toEs al claim
provided for seetion this article Of thu Charter
That an premiums sus be due and payablen cash under
the rules and regulations from time to time adopted by the
s. That within month Of May 1867 and every year there
net profits Of Company q fr il section Of Ibis
a y Pagsr @ 0s nSRss Nth o
which Is In cash and lie portion thereof IN seSues
and The thereof This publication shah Be- made under
and binding upon al persons inter ested
q ARFIoLHt SIXTH @ ..gea sa5lss,
All corporate po wsrs of the said Company shall be
by Bead q Trustees and such other officers and
he Board Tfettees shai consist IL persons
elected Tie sesoad Monday ii April IL each
s Ifls q sas sh sRars
g sss lolrteen a notice 70 be given IN Of the
nc 5 j F ne sSsT e f
spectbgs eSde such eaectonsk and n any Of sd IN
spetprs teelne fail % attend, the President may appoint
/ othssp to I'LL such vacancies III T
The Board Of Trustees elected are to take their seats
on tho Monday in afr the election and to hold
the same one year hereirom until cthp elected heir
& Those peonH receiving plurality Of votes shall he
adhered duly elected, 10 the election Mace
day aforesaid the President shall another election
% tase place within ten days thereafter and ave notice Of the
The Board Tsnsees hall annually at their arst
ing seet ad Vice President who shall on their
eeetpn be eomeo members Of the Of Truttees and
tney shall bold their Offices nnt their sucressor
and quahneG me Ere den shall preside at All mee.ncs If
the Hoardof Trustees, the az M -
OF the company, and AhR conduct the business ~ tba
pany generally, under the IL ina Snsr n
The President shal prssae az the eenes asersS
the aosence a the eSieen and in his sbsence shan si
Il The fruseos snaP the compensation Of an of,s.
clerks employed Or elected by said comp NY. Gis w
they sha invest ne profits Of BE Company from time
opt such BYLAWS they may deem AIRY and eonye
nent for the and regulation of the Company
contrary to hsehRrer 0 10 the Vt The legislature
ratons, approval Mach 18th l8i8 and Mar 10Th 1865
NopeFson shall DO Trustee of this Company who doe
at the time Of his election and during his continuance
Office hold In bis owu name or in TIE of the commercial
m Of which be may be member least shares Of til
y Eaed and every Stakeholder shall entitled at election
elthes In proxy vote each ever,
lively hold, but not TO vote stock him. then
transferred Within three months prior to said election
a ARTICLE sEyESTH
1t SHAH be lawful for The Trustees 10 invest the capita
STOCK and 9th monies OF the Company mort
gages on tee estate n the parishes Of eans
every cast the properly shall worth the nnount
thee9n they may also invest the capital stock and othe