New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-07-27
CHARTER.
.,,.a.....,.. $4,000. cASARTEs
--or rus
COMMERCIAL INSURANCE COMPANY.
STATE OF LOUISIANA. !

STATE OF LOUISIANA
BE IT KNOWN that on ra dsy Of 9iy in the year
OF saG GC me- IA RoRERT JosPa KR Ssry Public
and city New Orleans aforesaid uy com
inafier named aid Undersigned
rers nay anne and appeared The parties whose are
The provisions rws Ct this State relative TO the organ
cation OF corporations in this State for public improve
ment and other pupos they have coyenaued and agreed
na eTe9y covenant and aeree aud eipd themselves and
hereby establish corporation body corporate Tor objects
regulations following to-wit;
ARTICLE FIRST.
The name and title of the Company shall "Ths CONNER
e Ompany and rs domicil is hereby established
in the city of New Orleans 1t shall exist for
operations Immediately organ zation 1t shall have
Corporate seal having for device Commerce. and for
act '-'N '''' U''' "a '-A
SECOND.
sEcr9N The objects and purposes of tie Company are
10 axe assurances upon dwelling houses stores cotton
furniture goods wares merchandise machinery and other
property, against loss or damage by Ere
10 make insurapees upon ships seagoing vessels
steam6oa's and all other vessels freight goods bills Of
bullion or money and against IN rme and inland trans
poTton rs eoomy ana Respondents interests in other
words TO effect ire MARINE river and inland insurance, of
any kind Whatsoever with privileges Of exercising all
The ompany itself to be rensured against any
risk upon which it shall have made insurance.
SEC e company shall and be sued in its corporate
name and al citations and other legal process shall be
$50 The OF Directors shall have power to invest
rom time 70 time the money and capital of the Company in
bonds and mortgages unneumbered and improved real
ATE situated within the limits Of the parishes Of Orleans
double the amount loaned thereon = 'T'S'
They may also invest the profits Of the Company in any
bonds stock created by the laws OF the United
STATES State of the corporations State or
entities stocks o. aug collateral or iii 81 lading
provided this investment all rere with the prompt
They shall have power TO dispose of mortgages obtained by
e them IN Of debts previously contract
ed OF purchased ct public sale upon judgments
Which may he 5eeo psdgSd * absndoned
d for Or concerning the operations OF its business
hoze the said ompany discount negotiable paper
recy deal or trade buying selling movable imoyable
properly gods wares merchandise provided also that
bqiling for the purpose Of establishing office therein
employees elected employed By them in the the
Company and ha also have power 81 al which
They shat have power regulations and by
OF the Company; prnvded the same shall not conflict
with the true intent and meaning OF this act.
ARTICLE THIRD.
SECTION An the corporate powers of the Company shall
BE- exercised by The board Of twenty-five Directors
eIeS III Va fer prSSaea me- steT the
eligible who does not hold in his that Of his firm
that Of HE rm on the books Of the Company for aleas
three months prior to the election.
Nine Directors any meeting shall constitute
ARTICLE FOURTH.
SECTION The capital stock this Company is hereby
dxsd at one million Of dollars divided into len thousand
e Of one hunued uoars each subject to be increased
10 three millions Of doals under article twelfth char
and it is hereby commence business as snon
as $500 00 capital shall be subscribed The to be paid
This subscribers the stock shall pay into the hands of
the President the orgazation of the Company bust
ness the Of 1--we dollars in cash ech every share
subscribed by them and furnish approved by he Board
Of Directors the order Of the Company for the remaining
netyfve dollars payable demand at the office of the
Directors shall determine provided that no calls shall Be-
made except pay losses and then by nstaments Of not
agreed BY the Board DirectOrs and provided further
that calls SHAH not be made frequently than once
sEC q When authorized cali shall be made mon the
Stockholders for any portion of their stock noes due and
gal notice shall be given toeach Stakeholder such call
the Secretary OF the ComOany Upun the failure Of any
holder 70 pay the call 50 made and AFTER
sueh the stock owned by him be exposed for
sale ct public auction should bring sum in Of
shall be paid ever to the the legal
owning the stock prior to the sale
The purchaser of the aforesaid shall conpeed IN
assume all the iabues such stock notes etc held by
Company against said Soekh ilder
pon his stock notes sha be at the discretion the Board Of
$40 That stockhodsr shall ever be held liable or re-
pentloe contra is Or auts of said company any
he shares owed BY him F' ~
sIc No shall be transferred unless sub transfer he
made on tho boks OF the company shond any stakeholder
esire to transfer his stock previous full payment OF Tie
having made lie Shall be permitted to DO so y snb
tute Of the obligations Of the party purchasing provided the
ectors-
ARTICLE FIFTH.
sRcoN The election Directors shall be held on the
Notices Of such elections shall given for at least fen 6bnse
mmed tey preceding the election French and
q ltnglhh, and in at least two Of the city pspers
SEC Board shall appoint three stockholders Inspec
to preside such elections said nsecOr
ecne or to attend tle President shall appoint others
47TIcLE SIXTH