New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-07-28
CHARTER.
CHARTER.
CnAmTER or THE FACTOE@ ARID
TRADERS
INSURANCE COMPANY,
of NeV Orleans.


of Rev Orleans
STATE OF LOUISIANA PARISH OF ORLEANS:
Know hee Presog teas We The e" Dc hssSy
s,TT NJ our 81 e. and 4uon her may become Ngso'
ciaed with 3, sub Ct pnn purchase If I'M State pf
ydiE for b. oganza ion Of Corporations, 4 Ire ae as he
Chatter Of the said ,Orp'ration:
AprrcLE FIRST.
The sqme Of tie og5P P Of u e eaas stss 81
a s 1R9 y hN 44A 81 CON
epa en- 8S5 and e. ears aost on mn .he
date IF is Charter qnless ~ of he votes Of the
it sbs have seal the deyice the same ha
ne ths insight, Justice, with the name OF the company
upon 6 5ee r ent or in his alb yic President
s.eretsry ghq be n p , ro oposT upon "A0
ARTICLE sEooED.
The objects and purposes of this Company are declared
70 make Insurance Dgei Houses staFes faa othgr
To make Marine upon Vessels Frsgn Steam
boats Goods Wares Nerehanaise Specie bam9a Ems s q
denccs q Debt Bottonry Bcponden Interests and to
ish gar fS Or sS INLAND taaspoftso4 4isE
10 cause themselves to be insured against any h1sk
upon which they have made or shall make Insurance
ARTICLE
The Capitl Stock Of this Company is hereby fed -
np Il to Three Millions divided shares Of One Hundred
a s S b e9& r % n R' f4S lis s
2 The Company business as coon a. iA5ee
each fiscal year shall end on April Sith tr m sa il
MIA ~ XII and "a u Of less than one per
itted except the pleasure Of the Trustees the tF"Hssfee
assuming all indie ,tedness thereon. A., It'll. 70 .,o
Transfer d stock shah be made on th2 o22E7 o. Wy Wy
while eay nde5ednes5 Company exists On the part OF
In Edition to the Capital Stock the Compaag con
geat fund shall be created 70 consist o. Az u III morn
received from than premums From TINS l
after expenses Of the Company hSye 2eei
paid, dividends Of inte'est Shai pc maze u Ike
penses etc from The contingent fund ntees: dividend
o. t9 per seqs s9s t Sf ia Bay,nent at sc Tine a. Ii
trustees may direct provided that ii the contingent iun
found insufficient pay the said interest tns4 tn
tss besiSes sso Of tie e y y@r' ~
These dividends sa cover a pafcpa2a - lI p U
~ ''-''' 'e'i' -
excess q The gnd ae s 81 ' s
@ for Se s B@ the o e & ae bee
exhausted and shall always be nga as PtoGi.loI m
thousand dollars ne surplus beyond %hten nay 9G p
p Eg9ient from year &c year az INT i'''''''
AETloLE FOURTH
All persons who subscribed, may hereafter sui
S9Ge x IN GaP Say Of @ Company ten rel cent
Of peoT9 Se m ] sae IN csh passin t6e notes
approved opany for remaining ninety per cent
- Of trustees nav determine
ba G ndrnent Of tae irastees tie necessities Of /
COMPANY equS il these notes Or any portion + .n Of ti ht
a. The Trustees may determine after ! thirty days noi
Teap proyided that not less than Thirty Days shan int
yene between the time Of payment for each INSTRUMENT
as above s SToP3sd for % s @ Il the STOCK
Company KID AL smne poHdd hat
trustees may extend said payments such time they
For the foregoing subscriptions receipts mot trans
s0te Sneu 9y s0e he a8St laid ia CASH
notes giss6 WHICH receipts 6 snrrendered to he g
e. ion S. Article iSI iii ''''.' ,,',,''
suoscp9ns 70 ne Vspai n,Dh t fb se Same terms as
oripinai
Lns ss G ] ' iop new fhrou Oh
NJ Int shall he closed to Stockholders during
tbTee oT months Of each 6scg Wear Of the Company
T. No Stakeholder shall in any be made liable for
GssG be Of oPG 9hoT saosco os lie Capital soo and
her' or 'nelf lnae0'' ons'S 70 'HS company
ARTICLE FIFTH. -,,....,us -,.0
Of Ibis Corporation it is hereby decreed:
once in nbsc cG sba never be- USED for the iqudeo
losses or Tor any other purpose until all other avail
Wh4ey s h hsye been necessary to use any POI
o no diyeod sha be declared or paid until
losses shall be made good; ali earnings and profits
is re established. -,
AS and in Section Of Art Of this charter shall
cash, the Trustees; provided that
SCR dend sha pc pasq %he Inetg eHI any @ a pe
be passed tL credit Of SAID eDtednes until satisfied
riding 4 That within the mouth Of May, in each and
Is1aen,I Fyivnr
Marine risks each, dednctng therelrom the an1oi
w same not teFFP9aea snG|hE ne e amount IN
pa'a On RIe, tne aau Mains , 'isNS rh IA
FAX TIL = M f"s ~, ,r.I,S,n e. II vaaT
y 5nIM ny .o-,S S az "a ~ y, Ssct
Article IL OF thi Charter must lat be taken, the pa
then remaining saall be vded among the ockh0ders
Company pro rata on tn. amount o. earned premiums y
paid i'll within the year provided that the amount 80 al
shall not in any one year exceed rev nty hYe per cent
Place Capital Stock OF the Company held BY each on the h
day oil u dLuary OF ehh ear anu thaI any surplus "
FS seventy five cent shall be carried 10 the credit 81 t
tngen iundi and provided iurtheT that no sam OF less
len Dollars any fractional parts Of Tens OF Dollars So
rolls divided but that all such sums shall be carried to the
OF the Contingent FunG. , ...,.,.
s. That no dividend declared shall bear interest ana t
dividend unclaimed tor the term of three years from tht
declared shall be forfeited to the Company carried
credit of the contingent fund alter the publication oil the
rect week for four weeks succtssiyeyn the Official
- Of the City Of NV Orleans.
rEs That parties insurtng with the Company who al
ac, stockholders there such cash return
70 he may from time to time determine, ana IN
stockhUl Ter eCeiv said cash return shall forfeit all
% 9Th further participation in the profits of the comp
flowing provided for section ths article q The TEL
Point the rules and regulations from time to time adoPteA
~ Board Of Trustees.
ot That within the month of May 1851 and every year
~ after, the President sha cause to be made statement
Ia rr profits of Company provided for section
and sa the to be published in ut lie
5y city papers for mouth together with slater