New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-08-11
CHARTER.
CHARTER OF THE FACTORS AND
TRADERS
INSURANCE COMPANY,
OF New 0rlesnH
CHARTER.
sfATa or LOUISIANA, PAn,su or ontrAss'

II OF New 0rlesnE
srArR OF LOUISIANA, PAnsu oELEASs'
Know ali by presently that We the un Dc Ss1
form aonr our al e and such others become asso
Sssd with US sg Ss IneaI sw II this staS pT
yng for the organisation Of Corporations and have agreed
: Charter Of tho said corporations
e ARTICLE FIRST
- The cts Of Eew Parish d Orleans state Of LOGis
ana and shah be designated known under the
: rus FACTORS AND TRADERS INSURANCE COM
September ls5 and shall exist for twenty
a9a settled By order Of wohrds Of the votes Of the
It shall have seal the device upon the shall
% the nslgne Justice, with the name of the Company
The PRESIDENT or in his absence the vce-Presdeut or
Secretary shall be III proper officer upon whom to serve c
tious In all suits against the Company
The objects and purposes Of this Company declared
10 make Insurance on Dweng Houses Stores and other
buildings Household Furniture Merchandise and other prop
To make Marine Insurance Vessels Feghts Steam
Exchanges Commissions Profits Bank Notes and ether evil
denees OF Debt Boomry, and Respondena Interests
with Marine q Inland TRANSPORTATION Risks
upon which they have made or shah make Insurance.
Il THIRD.
The Gapits Socb Of this Company is hereby fixed at
ing it 70 Three Millions divided into shares Of One Hundred
here1fer provided Article Fourth Of this Charter
The Company may commence business soon Three
each fiscal year shall cad on April 3Oh.
nsid IN mi and ne ~ s ~ a 1 seo unt hs same Is
mted except At the pleasure of the Trustees the ansreo
Transfers of Stock shall be made the books of the
Company at its office in the city of New Orleans only but not
ghe any indebtedness to the Company exists the part
In addition to the Capital Stock of the Company con
eeSed @ N G ssS ate to consist Of nj
after The expenses Of the Company have
ip year. alter 9aS' dsdusas 6s
etc. from the contingent fund interest dividend
iJ per stS oe OeS9teu on the amount Of the stock
pa IN aa rom the cate q its payment at such time the
ssend Be found insufficient The said interest then the
tie business ef NJ up ana paa out Oh the net profits OF
These dividends SHAH cover ~ partiepgtop the profits Of
Sections. - = Ai'- >
Dividend abeys Foy na ser Of re ter
@ EXCEPT Ter t1e payqen 9 o5ss aer Al other funds
exhausted snail avays be held as Protection for tbe
Is oa p ~ ne 54s sRa amount To- Ere Hundred
Ps s50t from year to year as the Trustees deem
AR7roLE FOURTH
l. All persons who have subscribed may hereafter sub
Rsi9g f A. rs5 Business
approved q be som5any or t I p5g 1ge noes WEI
eine oars per share payable times as tic Board
m s i ao5tS sae contain clause to hs effect that if il
Company require it, these Dotss or any portion Of tbep
SHAH be due and payable ia such sums and ii such times
thereof pn5Iised i the ofi i5Tpl IF ths it of ss
I sh III fa sasE ps gaa inter
Ihenon.pay9eHt OF said noes Or instruments same
GgDpany together With III accumulation thereon and all
Trustees may extend s payments f such time as they NAV
desm proper aa4 #
ssls sEnsd By toe RTssasat 4 secFey shall issued
suoscpefs eeahONieqglg the amount peid Ia CASH and
nsies gye which rsegip shan BE- surrendered the Com
tie1 ArtieIe u oEoeA' ~ PROVIDED oF ID sec
snbscptions e The Capital Stock Of the Company
seenen 70 It's snail bs upon tho the
/ Original e-- !,
Book sha remain opsn Tor new suecribers throughout
s yea ~ Snail bs closed 70 stockholders during the last
No stooeholder shah in be hadslabie for the
81 ne oSpaay IL any iagsr sum thsn the amount Of
| heF or tAsiF inde6t' dnsss TO the eompsny as
II ARTICLE TIFFH.
me- more efsttuay Il carry out the objects and nno,as
maj taptal 65npa rnssa l. any portion thereon
Losses tor other purpose NTH all the otsr sysilabe
WbsneyeT Il hys bes esS fst exhausted
of the Capital 6i Tie Company fo Ina az 49,
loses shan 81 nhe s VI, e 81 q pad sn said
Estsysr derived shall y until Capital
That all dividends declared a. proy5ad ~ In 44i,, mr.
ns AZ Gle y q h shall made
5h the Of tie Trustees 1oydd ba n
Of n ~ PHI nS Sne 1nes exists any mstprsd indebted
Tst 70 she credit 81 said until satisfied
ced'ng inclusive "a the following manner to Wit Show
n 1ne sho'ht o premiums received Fire River and
aaia ma 1s gaea, aeocing Iheretrom the of
pso On IRE hlvef and Marine risks each, reinsurance
% inns anu eaeh return less savings The balance
XVI supW tne et pEohs on premiums for the year. From
w we IT my Rs provided in Section
q ~ iNyGarlsr must inst be taken, the balance
Conpny pro saa a e M among the
IN within the year provided that amount so divided
one year exceed rev nty five per Of the
Ss5 ny company held BY EACH the thirty
t NY nxe per cent shall be carried the credit Of tho CON
aB l, auu that no of than
~ Ky nul I'LL ~ sncn sums snail be carried to the credit
a iSst M Il ~ un g. -,
o the term Of three years from the date
~ r. 70 INT onpany and carried to the
y s upd. alter the publication of the same
" a StT m - y ~ NV oEIesns.
IS vain the Company who
may Teee ye such return as the
5e9 may from tlne to time determine that any
~ an sd esn return, shall forfeit all CLAIM
pr,da5 u me profits Of the company
That al premiums all be due aud payable in cash Bndn
rules anu regulations from tin6 time aopted nv he
oe 9AhI OF trustees
Rthin me month OF May 1857 and every year there
e prem q t- Company az provide for in section of Ibis
ana snei esnse the same 70 be published in two
re IVY PApets enc neth together with statement Of
asels o. lhe hing the portion same
~ anu ne portion thereof invest ed in
h w H. ms publication shall be made under
-t-- T.