New Orleans daily crescent., 1866-06-07

the President upon the organization Of the company bust
afe bscbed by thsm and furnish he l. h o
the GOmP9hy for the remaining eighty dollars payable on
sq;h manner as The Board Of De9Fs may determines pro-
than twenty dollars each share, such geod may be
agreed by said Directors and thirty days notice the
French English languages newspapers published
daily city Orleans shall be given Of pigment
Seventy ye thousand Dollars may increased
One Million Five Hundred Thousand Dollars hereinafter
provided for
All the corporate powers Of said company shall be exercised
by Board of Directors composed nineteen stockholders
be elected the fret Monday in January Of each at the
ana continued for days lately preceding SAID election
The Board shall appoint thrs4 ocRhodss inspectors to pre-
side at such elections and any Of said inspectors decline
stead The Board thus elected take their
Monday the mouth of January III each year and hold
the hereom or until their successors are cleo
The first Board Of Directors shall consist Of the following
ztofkhoiders who shall remain in oaee until the g Monday
fed, viz: ,,.. s,, -.
4 K E E Gods &5iS,on fIos. s5susi a. HSgn Simmons,
John Me4innis Jr, James B{EFng:,
H. i. stanley A Wheelock,
Gsq5gg # 3 ysann y; aanson' y. v + + EsH@s: KeI5ss
A B, Hitchcocs q N. -orla,
B L. Mann.
holders eesyns tue Tasy Of votes The s5ocshoers pre
shall be considered duly elected and in the of no
eSgs another take pce within days hseatter
aud give notice OF the same as aforesaid.
SEVENTH.
Each stockho!der shall be entitled either in person by
to for each and every share which he she or they
company vote any stock transferred him them with
in ninety days prior to said election
Each and every holder of scrip shall be entitled vote at all
elections Of directors provided said vote be given stock
holders of the Company, and be entitled to for each
every hundred dollars scrip provded that individual
ferred him within six months prior to such election.
In the yearly dividends declared by Company the
insured sal participate the extent o ne premiums paid by
capital stock held by them.
The insured who shall claim and receive return O
of their premiums, shall forfeit
other insured and stockholders all their rights in the prohts
the Company.
The insured shall in payment Of their shares in the dyi
per cent interest which certificates shall be signed by th
should The losses Of the Company in any year exceed the pre-
mum and consume the reserve funds and the whole or
is make good the deficiency.
No certificate shall be issued for the fractional part
dollars but all fractional parts Of sums, and les
tie Company, which shall remain reserve fund for th
hereby created shall exceed Three HundTed and
Thousand Dollars, the excess shall annually be divoet
interests in the Company.
THIRTEENTH,
The stockholders shall be paid their dividends in cash bu
the amount to be then paid shall not exceed ten per cent
the amount OF stock held by them the balance shall
placed 10 til credit Of unpaid until the same
S baid in full
] FOURTEENTH.
The Board of Directors shall at their ar meeting in ever
year elect one fran among themselves as President aud Vie
elected
FIFTEENTH.
=,
No person shall be capable OF eeng Director OF sad Con
paS "to ~ T., t i a. d NJ % ~ III ~ aro % oS i ho ~ + ,n
i 49, Sg m If i 5i h % a m oar avs be e parer at W Las ~
| shares of the stock OF said Company
sIxTEENTH,
The BOARD OF directors shall nave the power to appoint sue
9eer5 CLERKS ana employees as sna ns necessary nI the COZ
uneng OF tne business o. sau N3npohS % OF 10 Ian sn'
rues anu re- as Cues my u use .i mt W. e
er4hshe S @ G s ~ f@pPSaf, @ TO % @ @ iT ] sud- d N ~ el
u WIN We '"S VI '' SVate' VI 'He o ANe" u ATTAINING
thS "et'
en1ye 5 se elected m ' o empeVed 6v them in The sery
Company and snail also have power to III all vacancies whit
srvrrrrPHTu
The Board of Directors shah have power to from tin