New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-07-21

Of our Lord one Thousand eight hundred and sxtysx
and for the city of New Orleans and state aforesaid ay com
msoned and qualified and in Of the witnesses here
matter named and undersigned,
Personally appeared The parties whose names are
the provisions of the laws Of this State relative the organi
nst9n o. in th state Tor works public improve
and DO hereby and and bind themselves and
hereby establish corporation body corporate for objects
ana and under the title obligations stpuaous and
regulations following, to-wit:
FIRST.
The name and title the Company shall be "Tha CONNER
in the city New Orleans Il b aG cap ns,eoy @
operations Immediately on II S S b
e sea- having for device Commerce and
act, fs' anu 'ue uHe' VI 'iiS
SECOND.
SECTION l. The objects and purposes Of Comoany ara
10 anal a asara9sss dwelling houses
furniture goods wares merchandise, machinery and other
To make insurauces upon ships and seagong vessels
sseaDoss ano gu other vessels freight goods bills Of
bullion or money and against all ,rtime inland trans
words TO effect FIRE marine river and inland insurance Of
any knd whatsoever with privileges Of exercising all
The Company itself rcinsured against any
SEC The Company shall sue and be sued in its corporate
name and al citations and other legal process shalt
| served on the President OF the Company,
SIG 5 Ihe Board n Directors shall have power
bonds and mortgages On nnincum6eed and improved real
NV m9tn tne ts 81 ue parishes Of Orleans and
| double theamouns loaned thereon. "
They nEy also invest the profits Of the Company in any
bonds or sos created by under the laws Of the United
STATES or oh state or Of the corporations Of this State
e or make any loans on pledge o. any OF the aforesaid
earities bonds stocks any collateral bill adng
distribution Qfnet earned premiums for the year
They shall have power 70 dispose q mortgages obtained by
conveyed them in satisfaction previously contract
ed purchased at public sale upon Judgments
seizure obtained BY said Company any property movable
or moyaoe which may have been pledged abandoned
said Company for concerning the operations business
9u nothing heren eonantd Shall be SO construed to
Tectit deal or trade Ia buvip n ssipg iy y KIM
property goods merchandise; provided also
the Company shall have the right purchase properly o.
They * e. Ssf , ssiRs
employees elected or employed BY them in the service u th
may occur in their number or in the Presidency
70 them shall best rsnsaeon Of The bast
with the true intent and meaning of this act.
ARTICLE THIRD.
SECrIoN All the corporate powers Of the Company shat
elected from among s.ockhodsrs provided that alter Ii
eec9n o. Directors i9r ORGANIZATION no s9ckhode shall
least fifty shares which shall stood ID his name
! three months prior to the election
Nine Directors present at meeting shall constitute
AaTicLE FOURTH.
sEcroy l. The capital stock Of this Company IS hsreb
SHARES ONE one nGd 6ach a sS6 ne 70 s
to three millions Of dollars under article twelfth this
as SaO0OJ capital shall be subscribed The stock be PAL
The subscribers 70 the said stock shall pay the hands
the President the Of COMPANY
ness the Of i've dollars in cash eCh every
subscribed by them and furnish approved by the Boar
ntnetyfve dollars, payable demand Office Of Ia
Company at such time and in such the Board
made except to Pay Losses and thsn BY nsSssts ~ po
than dollars share,
agreed the Board Or Directors; provided further
that calls shall not be made frequently than once
SIC 2 when an authorized cali shall be made mon III
Stockholders portion of their notes an
Legal notice shall be given to each Stakeholder Of such call
the Secretary Of the Company Upon failure Of any SG6k
holder pay the amount due such call made aud ate
such notification the stock owned by him shall
sale at public auction and should it bring
the called for and Of the sale said OK
shall be paid to the the legal
a owning the stock prior to the sRie.
The purchaser Of the Aforesaid shall be compelled
all the liabilities SUCH stock notes etc held BY
The release OF the delinquent Stakeholder from abft
upon his stock notes shall be at the discretion Board
/ Directors
SEC That stakeholder shall ever be held liable or r
sponsibe for the contra its faults of said company
further than the unpaid balance due the company
the shares owned by him.
SEC No stock shall transferred unless such transfer
made on the books Of the company should any stOckhode
desire to transfer his stock previous to full payment
having been made shall be permitted
sute OF the obligations OF the party purchasing provided
substituted Obligations are satisfactory to the Board Of
ARTICLE FIFTH
SECTION l. The election for Directors shall be held on tn
Monday May Of each year the office compa
Notices such elections shall be given
cutiye days immediately preceding the election In French
In English, and in at least two oil tue papers
. The Board shall appoint three stockholders
elections
decline fail to attend tie President shall appoint Others
/, act in their stead
71,