New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-08-14

CHARTER.
TRADERS
INSURANCE COMPANY,
OF New Orleans.
STATE OF LOUISIANA, PAnrsn OF onIrAys:,

whose 6gST all msn BY s that the de b1
form among Ourselves ard such others may become
caed with u.s. by subscription purchase transfer
vdng for the organization orpoations and have ageed
upon the following stpuatons to the same the
Charter OF the said Corporations
ARTICLE FIRST.
The dgn1ei Of the CORPORATION is hereby established in
5ne city 81 SeT orleans Parish Of Orleans state of Louis
THE FACTORS AND TRADERS INSURANCE COM.
It shall commence business IN or about the first da Of
date this Charter unless shoH be sooner Ham
dated and settled up order of twohrds of the the
II shall have seal and the device upon the same shalt
be the insignia Justtce with the name of the Company
Tie President Or III his absence the Vice President or
lions III all suits against the Company.
SECOND.
The objects and purposes of this Company declared
l. To make Insurance Dwet9 Houses Stores and other
erty against los, or damage by Fire F'''
To make Marine Insurance upon Vessels Freights Steam
Exchange Commissions, Profits Bank Notes and other evil
make g and every Insurance appertaning connected
with Marine or Inland Transportation Risks,
To themselves to be reinsured against any Risk
upon which they have made or shall make Insurance
THIRD
ONE &oH C bo G %R thy py HEREBY Ssa at
ing II TO Three Millions, divided into shares Of One Hundred
article e Putin o Of FqS S eba aG
Inc Company may commence business Three
each fiscal year shall end on April 30th
paid In full and no transfer Of less han one An same Is
eNeP a. the pessfEe Of the Trustees the tranree
l. Transfers of stock shall he made ~, the hooks Of m
while any indebtedness TO the GompNpy eist on IL OF
s. In addition tn the C,arital stl, s tho f,ru go.
nge4 fund shall be created to consist of ali interest re-
received from aber sors I ahq o. al amounts
a5er ne current expenses Of the Company have been
At tie coss Of the sa i YEAR DC no aas 70 S0Ck43e
IT per Ge SEAL pc declared on the amount Of the stock
bo % y dTeGf provided that it he contingent fund
Se ses a be made up and paid out Of the net profits
These dividends shall cover all participation in the profits Of
section4 90 Hee'N'''e' p'oNueu ioF III AF'Iee D
Any excess Of the FIND after payment of the interest
to 2q tb szssgtfor Ne payment ;s al other
Capital stock until the same Shall amount to Five Hundred
pfe year to year the TTustees may deem e
peaeR" ,n-rcr, ro,n-,,
! An ,..s NIB, ,o., -,
s b 9 Gaye Sn9sGToea or may hereafter sub
befT II he g s'3SE 81 tas COMPANY shall pay on or
Ten Dollars on each share in cash passing their notes well
or Snet noifas 5y 20 wy ireanihs ninety per cent
: > iI s3S may ae 9 me -.
the gdo,nenf If the q cause eaeet that IT IN
~ TequlFe L. these notes or any portion Of them
the Anttees may deermne after thirty days notice
puo6ea IN the olciai journal of the City of New
yene bs Tasn ta r ~ s man llty Days shai inter
B. TIE OF a nats t3F ehen nstamen
as above provided for shall forfeit the entire Stock the
togetRef WIN au accumulation thereon and all
@ may extend SAID payments for such time as they may
/ For Tie foregoing authorizations racsi,tg ct +sc
@ ~ Wy re5ent atd secretary sna be issued T.
notes given which receipts shall be surrendered the Com
an on sne 81 Certificates OF stock as provided for in Sec
seSnsn rs He 10 He oapiTa stock Of the Company sub
original
lion Roi e Tos Gptal STOCK IS taken up the subsc
hs year put shall be closed Stockholders during asI
No holder shall in any he made for the
Se - @ rhpGny u any larger sum than the amount Of
ARTICLE FIFTH.
The eectuay carry out the objects and PURPOSES
l. That the Capital the Company or any portion bereof
once subscribed shall never be used for tie liquidation Of
Of the Company shah have been first exhausted
the Capital Company for he guidatfon Of osses
otherwise no dividend shall be declared paid said
losses shall be made good earnings and profits from
whatever sources derived shall be the Capital
g. That ali dividends declared as provided for in Article r1
and in Section Article Of this Charter shall he p,ad
h # s s e gtoTdeS ba @ &
lend shall be paid while there exists any atred ndeIed
1e nasss5 @ he eredit S e hoider put the same shall
es Thai .5 within the month e May in each
eding inclusive, in the following manner to wit: SHOW
ng re anonnt Of premiums received Fire, River and
eIine Lisks, each dedacng therefrom the Of
aAe noT teFhI,Rateu z Showing the losses
u On rie, hSeT ana Marine risks each, reinsurance
epfp premiums and cash return less savings The balance
lie aae ~ Ptonls on premiums for the year. From
ta 9enSency II any as provided Tor in Section
1 81 G1 lo H4srIer must INST be taken the balance
sual " uVlueu among the Stockholders Of the
m Pf2 ts on me amount Of earned premiums by each
"a Wthh he year provided that The divided
np ~ any one year exceed seventy i've per the
ap oock OF he company held by each, the thirtyhTs
az ~ KIN 1 S"E anu mat any surplus over the
ingeRt und and provided further that than
e = ;1 ~ s parts OF Tens ofDOlars shall be
~ 1ga a al uch sums shall be carried to the credit
or the term of three years from the date
of f og oeeG 70 the Company and carried the
40 1ra5 - 80 aIser me puplcatlon OF the same
m C,tT- ~ 'ncessslVey IN tine OHcia Journal
& M - nnrtiaz i.a..setiLLis' -, =,
1S hsulihg with the company who not
Lese a nay receive such cash return the
Sar - f " tILe determine, ana that any
any ffriaT R .stln sla forfeit all claim
80 S II IHe PFouts OF tine company as
al premiums sba be due and payable in cash, under
E'es u regulations from time to time adopted by the
q % T n ", t.; t5yse H. ,..,, ga, 49,,
So tI VIZ oth VI may 1906 ana every year there
e nrats az the rana e :" ~ iaqe statement Of the
Tt,ca ond shall coa 40 i9f IN section OF this
@ @ csoe te sans e DC published in at Least two
he assets Of the CompaSy @ win statement OF
w hlng the portion of
nd ~ at gu ie Lnereot nyested in securities,
atb If tba PrasJant and W. sha be made under
nd binding mon ali narso anu Snau De conclusive
9 NF FeA'0-' tA'0'eo'eu
ARTICLE SIXTH
STAIN
All the corporate powers of the said Company shall be
~ ooato OF ruStees and such other officers and
-erks as they may appoint
me BOARD o. trustees shall consist of twenty-five persons
eyen OF whom shall orma for the transaction Of
ear at such place m the ii Of New 0pIaan ipF Oh eae
usees shall degnate of which the President SHAH css