New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-06-09


upon Lives acCdents other words to effect re
soeve with privilege of exercising all either of said pur
The Company may itself reinsured against any
Interested shall be Served G President to be appointed in
the manner hereinafter provided for.
capital stock of said Company shall be three hundred
seventy five thousand dollars divided into three thousand
hundred and fifty shares Of hundred dollars each
t TO Vi po 0F at the time and m the manner following
subscribers to the said stock shall pay into the hands
ness The sum Of Twenty Dollars in cash each and
o. the Company for the remaining eighty dollars payable
such the Board may determne pro
yded that the shall be made by nstenens Of
agreed " Said Directors thirty days notice in the
5i tb i gL s N IN sTo newspapers published
payments to be made which said capital stock Three Hun
One Million Five Hundred Thousand Dollars hereinafter
provided for
All the corporate powers Of said company shall Be exercised
be elected the first Monday January of each year at the
ONCE of the Company Notices of such elections shall given
in the French and ENGLISH above ded o
side elections and il any Of said inspectors decline or
fail attend the President shall appoint 10 act in their
FIRST Monday of the month Of january in year and to hold
the same one year thererom until their
ted and qualified
Directors
stockholders who shall remain in Office until The t MondaS
in January 1857 Orun their elected and quail
< 1 s SsttSsoH, E ssnus q B sisl,.u
John McGnns Dr., James Byrnes,
! EdT Y st Rg{ney' CHARLES ir 4 Walker
George ". Manson, 4. 4. T MRnSSieSR'
A. B. Hitchcocs @ NJ soriSs
C. a. Eager, Charles E. Slayback
B. L. Mann.
SIXTH.
In all elections the vote shall be by ballot and those stock
Sc e Pp5a 81 t9es a of the @
election taking oace on tn day aforesaid the President shall
and give notice OF the same aforesaid.
~ SEVENTH.
Each stakeholder shall bs entitled either in person or by
may hold provided that individual corporation
in ninety days prior to said election
Each and every holder o scrip shall be entitled vote at all
holders of the Company and be entitled for each
corporation company shall be entitled to greater number
than five and no shall any scrip trans
ierreu TO MIN within six months prior to such election
NINTH.
In the yeSfy dividends G declared By said Company
them during the and the stockholders the extent the
The insured who shall claim and receve rstnrn az
Twenty-Five per cent of their premiums shall forfeit to the
shes insured and stockholders all their rights profits Of
the Company.
n the
per cent interest which certificates shall be signed by the
should the Of Company in any Year exeeed the pqe
part Of the capital paid in said certeas shah Sq or n
as to make good the deficiency.
TWELFTH.
No certificate be issued for the fractional mart of u
geeen eyen lens O Dollars nor for any less than
than ten dollars to be passed the contingent account Of
TIE GomPspy which shall remain reserve fund for the
hereby created shall Three Hundred and
the ockhosr pop st Annually f6 fS be
interests in the Company,
THIRTEENTH.
The stockholders shall paid their dividends in cash INIT
ne amount to be then PAD shall not exceed cent
paid in full '''-' 10
elect one from among themselves President aud vice
who shall hold their offices until their are
FIFTEENTH
no person shall capable being Director Of said Com
continuance in Office hold in his name Or in That Of the Conn ms
P9Sse 81 with ne nay be partner at least fifty
SIXTEENTH.
The Board of Directors shall have the power appoint such
aen 3 6e 9s e. q 6 g the @
rules and Iegu9ton as they may deem necessary for the gov
h the laws of this State or the true intent meaning Of
They shall TX the compensation Of the officers clerks and
may occur in their number or in the Presidency.
SEVENTEENTH
The eoard of Directors shall have power to invest time
time the money and capital Of the Company bonds and
Mortgages unincgmbered and improved estate situated
leemed worth least double the amount loaned thereon
They may also invest the profits Of the Company in any
States or Of this State the Corporations of this State or
jy or make loan pledge of any of aforesaid Sc
uTlties bonds or stocks, any collateral bill Of
They shall power to dispose of mortgages obtained by
way Of security of stock pledged for security; pro-
or purchased a. public sale upon Judgments orders
~ al NAV yOPR ys or Of movable
aid Company for or concerning the operations of IT'S BUSH
authorize the said Company to discount negotiable PAPER
% any other banking business, nor either directly or nd
S PFSPsTy s or merchandise provided also
building for the purpose of establishing Office therein
EIGHTEENTH.
Yearly dividends shall be of so much of the profits of
Received on ss SSioh shah mot be
ne time o. making such shall not be considered
loss or losses whereby capital stock Of Company
peh dimnutOn shall have been covered and made up BY
NINETEENTH
In the yearly dividends declared as aforesaid the
mount to be paid to the stockholders shall per
ha be placed the credit unpaid stock account until the
took paid in full when shall the duty of the President
no Board O. directors to issue certificates to the stockholders
TWENTIETH
After the whole capital stock of the Conlpauv shall bave
paid in the Board OF Directors shall have the right IN
educt from each yearly dividends and lay by part said
lvdends as they may deem proper until surplus fund of
loTe than Three Hundred and Sevenyve Thousand Dollars
hall have been formed and realized added to the capital
took of said Company.
TwENTY-FIRsT.
Any stockholders who shall fail neglect to pay any install
lent when ordered by the Board Directors provided for
erea, shall forfeit to the Company all previous payments
nd cease to be stocsholder of said Company.
a 7wEETY-sEcoNp. ...555 .-.s-
No stock shall be transferred unless such transfer be made
me books Of the Company; should any stockhoder
transfer his stock previous m of the hay
nee hde ne shall be permitted to do by Substitute
e gbgapon OF the party purchasing provided the snbs
lted obligations are satisfactory the Board Of Directors
4ss TWEArY-THIRD.
AT the time of the expiration of the charter of this Company
sooner ordered by vote of the stockholders as herein
royded oT this affairs of said Company shall be qudated
uens ad under the charge and superintendent of three
10 DO apo nteu by the Board Of Directors and
~ shal remain in otce until the final liquidation Of the
aars OF the Company.
TWENTY-FouRTH
me Fresi'ent Of said Company shall sign all Policies and
reside At all meetings Of Boaud he shall conduct and
me business OF the Company generally under the
q tina Board Of DectOrs in bis absence the
leef resident shall presiee at such meetings.
TWENrYFIFTH
" shall be the duty Of the President and Board Of Directors
ems mouth from the close expiration each year Of
ohpy to cause 70 be published in the French and Eng
taigusgeN and for the term OF at least MONTH full
teeh under OATH of the business Of the Company which
telnen3 shall c0ntHih FstThe amount Of preanm re- :
ys Ky aang the year specify what received
W for ms uranee against accidents what against
e what On maritime Policies what river peieiss
amount Of losses incurred during year spec
ing and designating what been Incurred
I1Sr ~ anerent kinds Of policies aforesaid Thrd-The