New Orleans daily crescent., 1866-08-28
CHARTER.
A1AAS ~. -
TvHARTER OF THE FACTOHs' AND
TRADERS
INSURANCE COMP ANY,
OF New Orleans.

| STATE or LOUISIANA, PASIsH OF ORLEANS;
Know all men BY these presents that We the un4srssnsd
ra among ourselves such others may become
65 oorpoTaton under lie general law Of this state pro
yd5g the organization Of Corporations and have agreed
upon the following spulationS the same the
Charter Of the said Corporation:
/ ARTICLE FIRST.
The dqmen of the Corporation is hereby established in
the city Fl ssy & oFsaEs PaEsh q Orleans state 80 Of Lons
E apa ~ f AN TRpRR d ssS" isnANGE snfS 5 Cod
PANY.
It shall sSmme9ss business On about the first day Of
dated and settled b order M Of the Of the
shall have seal and the device upon the same shall
be the insigni Justice, with the name of the Company
President or in his absence the vcs-Presdent or
h m a sns be M @ cSsn oGF upon whom " serve ea
ARTICLE SECOND.
The objects and of this Company declared
10 make Insurance on Dwelling Houses Stores and other
buildings Household Furniture Merchandise and other prop
TO Marine Insurance upon Vessels Feights Steam:
PSat Sood sPeS BaPn S bsr Ss sy E
dence Of Debt Bottom and Respondenta Interests and to
WITH WITH Marine 1 Of ssf inland HIKE
To cause themselves to be Tsinnred against any hl5N
upon which they have made or shall mako insurance
| ARTICLE
The GPPits @ stecb Of this Company is hereby axed At
ing it to Three Millions divided into shares Of One Hundred
bereeeT provided Article Fourth this charter
. The Company may commence business soon Three
each fiscal year shall end on April 80th.
g. No Certificate of Stock shall issued until the
paid full and transfer less than full share per
ted except the pleasure of the Trustees the ransfeee
Transfers of Stock shall be made the books Of the
Company at its office in the city of New Orleans emily but
while indebtedness to the Company exists the part of
g. In addition to the Capital Stock Of the Company CON
tngent fund shg be created to consist of all interest
received from other than premiums Fren this fund
ateT the current expenses Of he Company hgye been
s. At the close Of the fiscal year. after dedueting the
ten Der cent Shall be deesad on the amount o the stock
paid n and from the date Of ts payment at such time a hs
ss s.s aa a he ss msa' up and paid out Of the net profits Of
These dividends shall cover all participation profits
the Company hereinafter provided for in Article
dividend above provided for shall accumulate and shall mot be
Of the Company Except the Capital Stock shall have been
exhausted and shall always held aproteeton for
Thousand Dollars the surplus beyond which may appro
printed from year to year as the Trustees may deem
ARTICLE FOURTH.
41ps5so9s Who have subscribed ! may he5saitsr sub
before the rst business day the Company per cent
GR ea 6a[e m u @ eash ga Taf notes ns
Ninety share payable such times as the Board
81 Said notes Shall contain clause tothe effect that if
Company require it, these notes any portion Of them
ha H. eg aIe and payaSe la sueh sums efd e. & gsh TINES
thereof published the journal City of
bswssn the time of payment for each nstalmcnt
as above provided for shall forfeit the ens stock to the
Company together with all accumulation thereon and all
Trustees may extend said payments for such time as they may
For the foregoing subscriptions receipts mot transfer
able signed by toe President Secretary shall be issued
given which receipts shall surrendered to the Com
lion g. Article III.
Subscriptions to the Capital Stock Of the Company sub
original,
tlon Book shall remain open or new subscrbers throughout
the ept shall BE- closed to Stockhoders during the las
T. No sockholde shall in any be made liable for the
her OF their indebtsdnsss to the Company
II
AhTlclE FIFTH
Of this Corporations it is hereby decreed
mat the 0spal OF the Company OF eny portion thereof
losses Or for any other PURPOSE anil a Tia o5
Wbs6ayer q ,ns Il n by qa beeb ngge 9e s
81 ne SapS az o. 99 g9Ranf ior he isqidaon OF losses Or
losses shan be nade good but ali eaTnngs and i,H % f
Y }sss aefSea' SAan % reserved until the Capital
Tbat iii dividends declared a. far il A1a IN
and in Section Of Article Of this Charter be made
cash a. III discreon Of he Trstass. tfst M H.; =
dsnd shan be paid while there exists matred
be passed credit 81 said naebtednes until satisfied
4 That within the month Of May, in each and every
cedg inclusive in the following manner to Wit: Show
ing the premiums received on Fire River and
Marine risks, each dedrcting thereom the amopnt Of
same not Terminated Showing the of losses
paid Fire, River and Marine risks each reinsurance
return premiums and cash return savings The balance
viii show the net profits premiums for tile year From
this balance The deficiency provided for Section
Article H. of his Charter be taken the balance
then remaining shall be divided among the Stockholders Of the
Company pro amount earned premiums nv ac
year provided that tbe anount 10 vjsd
shall in year exceed seventy per cent Of the
Capital Stock Of the Company held by each on the thrtys
January each year and fiat enY nrnns nvsr ta
seventy five per cent shall carried 10 the credit Of lie
tngent nndi and provided further that
Ten Dollars fractional Dollars shall be
divided but that all such carried to he credit
THAT dacIarad shall o,s
dividend unclaimed for the term Of three yenrs from the ais
declared shall be forfeited
credit OF the contingent publication
week for four weeks suceessveyin the Official journal
| of the City Of Nsw Orleans
with C,op,non,z
stocklolders theraln renera snrb Gseh s ~
Trustees NAV from time to fine eerns;na ana tbat ar
stockhollsr receiving said cash return shall for ali aiI
to any further participation in the profits of ts eopany az
provided for in section T. Of this rti6Ie 81 Ina harte "
II That Ali premiums IA 1e and n rSb ra-
TINA adontad
I Board of Trustees - -
g. That within the month of NAV 1887 and evar
after President sa cause 10 be made of tb
profits Of Company as provided for in section of this
Dnbished Iapst
OF papers for mouth Together with stntaent ~
the assets of the Company dtnguishn he noron n sap
The portion Thereof invested in
nature thereof publication shan he made rner
oath Secretary and shall bs 0neisve
| and binding upon all persons interested.
/
| SIXTH.
i. 4 (. p. L