New Orleans daily crescent., 1866-08-17
CHARTER.
CmARTER OF THE FACTORS ANb
TRADERS
INSURANCE COMPANY
or Sew Orleans.
or new orlean"


sr.xs or rou,sIAEA, PAnsH OF oRIEANs
i. men BY these prsssntp that he uRdsrsignsd,
HI sre hereto subscribed Corporaors do hereby
ed VIII u.s. BY subscription, purchase transfer 81 spcees
sEdo The Sw 81 a56 si bSSe Ssss re S
upon following s.puations 70 govern the same as the
ARTICLE FIRST.
The donc of the Corporation is hereby established in
the city New Orleans Parish of Orleans stats 80 Of h0u
THE FACTORS AND TRADERS INSURANCE. COM
II shah commence business on or the hrst day Of
ptemes s and shall exist or S yeas sn6na d no
dated and settled by order of OF the votes OF the
Il shall have seal and the device upon the shall
be the insignis, Justice with the name of the Company
The Presdeat or in his absence the vice President
tions in al suits against the Company.
ARTICLE SECOND,
The objects and purposes of this Company declared
IL make Insurance on Dwelling Houses Stores and other
srty against los. damsge W Fire. s.s.
10 MAKE MAJ NJ upon sI;5n Kills Of
Exchange Commissions Profits Bank Notes and other cyl
Wb Taahs Marine la , ~ inland Transportption Risks
themselves to be rinsured against any RISK
upon which they have made shall make Insurance
| ARTICLE THIRD. aa.+
i The Capital Stock of this Company hereby fixed at
ONE aIhLoN OF DOLLARS with the privilege
6ess5eT provided for in Article Fourth of this Charter s
Hundred Thousand Dollars shall have been subscribed but
S-n No ceStiacste Of Stock shall b issued
paid full and transfer Of ii I As9 Sas @ e shsF s5
assuming All Indebtedness thereon.
Company ii its Office in the city Of New Orleans only but
while to the Company exists on the part Of
II addition to the Capital Stock of the Company,
ceTed profits Investments, and Of all AMOUNTS
received from other sources than premiums From ts fnn
pafd divSsnds of interest shan be made g stockhodes
etc. from the coatRgent fund an interest s dividend
& ps se M e KS pamnt ras such The
trustees may direct provided that the Contingent fund
deficiency shall be made up and paid out Of the net Prohs oil
Thsss dVdend sha cover all participation profits Of
Company except hereinafter provided for in Article
Any excess sf the fund after payment Of the interest
oucned except the payment Of losses after all other funds
s company SsePS the PSl d stoeE sas asys e9s
Capital Stock until the shall amount to Five Hundred
Thousand Dollars the surplus beyond whchmay be
Peiissd PPedieRs 'n year : y's : e la'''' As
l. An persons who have subscribed may hereafter sub
scribe the Capital Stock of this Company shall
Ten Dollars on each share cash. passing notes well
approved the Company for the remaining ninety GENT
Ninety Dollars share payable at such times as the Board
emsnS TeGue If these notes or any portion Of them
as the Trustees may deeTmlne after thirty days notice
Orleans provided thst no less than Thirty Days shall inter
8 The payment Of said es same,
above provided fur shall forfeit the entire stock to the
interest bened heeun,o belonging provided that the
Trustees may said payments for such time they may
deem proper
+ FOR the foregoing subscriptions receipts mot transfer
& M "a aaoqn Peld u "a Gh @ % Sn
issue Certificates Of stock provided for in Sec
snbsrripons "a the apital Stock Of The Companv sb.
een its organization snail be upon the same terms as the
original
TIN Book shall tor aqsscrosrs throughout
the but shall bs closed to Stockholders during the sst
three months Of each hseal year Of the Company
losses OF the Company IN any larger sum than the amount Of
her, Or sheir indebts dnsss to tho COMPANY
.nr,rry r,r-v
nh. ,o,s sscusv u cav III. ~ obac4s ana n,rnos.,
Of This Corporation, it is hereby deereed: :
once subscribed shah never be used for the quidatIon
% % ny 8sB 9s e S9 II 9s S5s sys0
~ s1e ba bS ss bs nSs o u s @
Of The Cauta Of the Company for Inc audnton Of losses
Otherwise no dividend shall be declared or paid until said
sources derived shall reserved Capital
s. That all dividends declared provided Article
in Section Art Gle Of this Charter shall De
CASH al the discretion Of the Trustees provided that dv
demo sh ee paid While there exists any matped indebted
passed to the credit q said until satisfied
That within the month Of May, in each and every
cedng inclusive the following manner to witt SHOW
ing the amount Of premiums received Fire, River and
Marine risks each ded1cting theretrom the amoont Of
same not terminated 2. Showing the of losses
paid Fire, River and Marine risks each reinsurance
return and cash RETURN less savings The basnce
viii show the net ptohts premiums for the From
this balance the deficiency If provided Section
Article II Of thi Charter must first be Laken the balance
then remaining shall oe divided the ockhoders the
Company rata the amount premiums by each
paid in within the provided that the divided
shall not in year exceed i've Of the
Capital Stock Of the Company held by each on the hyn st
day Of january OF each and that surplus the
seventy five per shan be carried the credit con
tngen fund.- and provided further that of than
zen Dollars noany fractional Tens Of Dollars shall be
SO oVeu but a all sc sums shall be carried to the credit
Of the contingent tung
dividend declared shall that
dividend unclaimed for the three years
declared snail be forfeited the Company and carried to The
credit OF the contingent fund alter the publication OF the
once week ior four Ia the Official Jouna
Of Gtty OF Nav Orleans,
stockholders there may reee such cash th
Trustees may. from time determine, that
stoekhol Ter receiving retuT shall orfeit all
to any farther participation in the profits Of the company
provided for In section OF this article of the Charter
That all premiums shs be due aud payable in cash unde
the rules and regulations from time time adopted by tn
, Board OF Trustees
That within the month Of May 1867 and every year there
AFTER the President sha cause be mede statement tn
net profits Of tho Company prOvideo for section OF hi
Of the city papers for mOath together
the Of the Company, distinguishing portion
which cash and the thereof invested
and the thereof This publication shall be made unae
cath of the President Secretary and shall be coDcluy
and binding upon al persons Interested
ARTICLE sIxTH,
All the eoruorate uovers of the said Connanv shall