New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-08-06
CHARTER.
VI n n Nv
CHARTER OF THE FACTORS, AND
TRADERS
TNsURAN NOE COMPANY,
OF New Orleans.
srArn OF LoulsIAvA, PAnlsn o. oalrArs.

OF New 0r,enns.
STATE OF LOUISIANA, PARISH OF ORLEANS;
Know ali men by presents. that we the undersigned
whose hereto subscribed Corpraor do hereby
cated with s by purchaa transfer or succos
sion, Cooperation uuder tho general law Of this state pro-
upon the following sapuleous govern the same as the
Charter OF the said Corporation'
ARTICLE FIRST.
The domtcl of the Corporation is hereby established in
the city New orleans Parish Of Orleans state of Louisi
THE FACTORS AND TRADERS INSURANCE COM
. 1t shall commence business on or about the first day
eptow6e 1875 and shall exist for twenty hve years fom the
9at Of this Charter unless its Affairs should be sooner qu
dated md settled BY of thirds Of the of the
1t shall have seal and the device upon the same shall
De t9 nsg% Justice with the name of the Company
hG rEes2ePt Or in his obsenco the Vice President
ons ali against company "H' 10 SERVE ''''
ARTICLE SECOND
The objects and purposes of this Company ore declared
To nnEs 5asss2gGs Rvs aonsss and other
ertyr against los or damage by Fire.
To make Marine Insurance upon Vessels Freishts Steam
Exchange Commissions Pfoas Bank Notes and other esi
make all and every Insurance Hpperanug connected
with Marine or Inland Transportation Risks,
upon which they have made or shall make Insurance
THIRD.
The Capital Stock of this Company is hereby fixed at
ONE MILLION or DOLLARS with the privilege ofinCreas
to Three Millions divided shares Of One Hundred
o a til
rs e T9psny mSy e9nReHee BUSINESS a. seen e. Ihree
each fiscal year shall end on April goth ..,.,
paid in full and transfer of less than full share per
mted except at the pleasure of the Trustees, the taneree
| assuming all Indebtedness thereon.
Transfers Of Stock shall he made the books the
Company ut its office in the city OF New Orleans only but not
while any Indebtedness to the Company exists the part of
ii additop to the Capital Stock Of the Company, con
tngeRt fund shall be created to consist Of all interest re
received from other premiums From fund
after the current expenses Of the Company haze been
At the close of the fiscal year after dedrcttnE the
of per SHAH be declared on the amount Of he stock
paid m and from Tug date Of ~ payment a; such time the
should be found insufficient pay the Interest then the
deficiency % be made Up and pad out IF the net profits Of
These dividends saul all participation in the profits Of
secSni P'''-''so '0' Al" A'''o's .
ANY excess Of the fnnd after payment Of The interest
touched except for tie OF losses aer all other funds
exhausted and snail delays Ne led as protection for the
Thousand Dollars the surplus beyond which NAV be nnpro
printed from year to year as the Trustees may deem
ARTICLE FOURTH
Al u persons t hG l hays obsG5oea may hefer sub
9eors ne hst business day OF Company ten per cent or
Ten Dollars on each share in passing their notes well
Or Snet dollars per share payable a; such times the Board
Said notes shan contain to- the effect that if in
tue Judgment OF the Trustees the necessities Of the
SHAH b. due and pay able suns aud at such times
- sne lpu1lfes mGy qetsTmne After t4ry days notice
Orleans provided that less thun Thirty Days shall inter
The payment said notes " instamsnt5 on same
e above provided tor snn frs the entire stock the
Trustees extend payments for such time as they may
deem E p5oP 1bs f,-.yoir.. ,ss..,,,.
eoie signed By The President Secretary shall DC
suescrbers acSpoNedsjng tie amount paid in cash,
P on issue Of Certificates Of stock provided Sec
Subscriptions to the Capital Stock of the Company sub
se9nen to its organization sna bsupoa the
Until he whole Capital Stock taken up the subscrp-
I'm nGoS mn g"@n 1ps9 2r neH sq9seroer throughout
three months ,n G each asg YER Of tne Company
bis Ter or hsr socrnt t ons an aag 9i amount OF
her or their indebt. dnsss to the Company
ARTICLE FIFTH
Tho more eecuay to carry out the objects and purposes
Of this Corporation it is hereby decreed: S''1
once subscribed @ never &c as @ Esp Pla sasTS0 q
esorc Of M C S5gsf p9fP9s g all E9s oRst available
2 Whenever shall have been necessary to se any portion
s dvdea 5a be ds i lasi pa Of u2 9is' a d
whatever sources derived shall be reserved until Capital
That a dividends declared as provided in Article III
and In Section OF Art Gle OF this Charter be made
payable 70 ne r their ega representatives. in
dend shall ne paid while there exists any Indebted
De passed 10 XII cIeut ~ sia IN e0tednesS until satisfied
you IKE ,,i,ai @ - ~ lay, ~ eaSh ana every
yeaF tns alehet aA oe made up TO April Oth pre-
f ~ 'Ls wing manner to WIT SHOW
49, - Pgt4tus IetelEet on IRE hlVer and
sae n' re L5rIheu showing the amount of losses
pau Ttt, Ss,eI anl tAFihe rlsks each reinsurance
lttuit anu slah EetHr ess savings The balance
NJ lte Ies luis uL premiums Tor the year. From
t 3a'aIge w ny e provided or IN Section
IICle u Oh I'M Hrter nbs INST be taken the balance
Ine aha ne oflsd among the ockhodsrs the
company pro rata on tn amount erHed premiums by each
PsI ~ %itn he year provided That the amount divided
% ny u, my ole eur exceed rev MY tive of the
@ T oH o. ls Gonph1 heii by each, on the thirty INST
1Hy Of ahhary OF each ear and that surplus
ssvny cent shall be carried 10 the credit Of the
uhu ara pr9Fltd luT ther that no of than
en D5tS fractional parts Of Tens of Dollars shall be
~ out % All such sums shau be carried to the credit
p mat no videnh declared shall bear interest that any
qNaenq hcitmed or the term Of three years from date
h oe forfeited to the ompany and carried the
o. e Soihgtnt n after the publication of the
We 9 lnu weeks excessively III the Official journal
VI : ~ ~, ~ % N W.Oleans
tuiL pattes lhSurIhS with the Company who
tl45 n may rece We huch cash the
1870 may, rum tu5 60 Time determine, ana that any
eCtl s"ld csh return, shall forfeit all clam
f pattieP"t'o N the prohts OF the company
Io IN sectioh OF ths article Of the Charter
an an be Que and payable in cash, under
~ q NJ from time to time adopted by the
D9 q ~, = " 1L L!st l. , r &C., -,,.-
nv wy m"I vi way 1901 and every year there
t Wy re- ,S e tea"se 70 De mace statement Of the
me- po o IN SpShy ~ provide fer in section Of this
C. IHH