New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-08-20

Know all by these presents that the undersigned
form among elves and such others as may become ASST
stated WIN US ~ sHeserption pu5ehaIe me- State pr9
vdiug for the organization of Corporations ana naHe ~
Charter Of the said OorpoTation'
ARTICLE FIRST,
/ The domc Of the Corporation Is hereby SstaoTnea II
and 2l be desgnqtsd qP ksS| sfs WI C0H
Il shall commence business IN or about the first day of
September 1866 shall exist for twenty five years to the
date of this Charter unless its affairs should e sooner qu
and settled up by Of twohirds OF the votes OF the
i shall have seal and the device the same shn
the insigni4 Justice with the name OF the Company
upon be or in his absence the Vice President
secraaTy shall lie IT, proper officer upon whom to cita
tions in all suits against the Company.
ARTICLE SECOND.
The objects and purposes of this Company are declared
10 make Insurance on Dwelling Houses Stores and other
buildings Household Furniture Merchandise and other prop
erty asainst loss or damage by Fire ,-.... Co..
To Marine Insurance upon Vessels Freights Steam
boats, Goods Wares Merchandise; Specie BULLION Bills Of
encs of bsSt Boomy and Respondenta Interests to
make all and every Insurance appertnng to or connected
To cause themselves to be uninsured against any Risk
upon which they have made or shall make Insurance
ARrIctE
The Capital Stock of this Company hereby fixed at
ONE MILLION on DOLLARS with the privilege Of incteas;
ing Three Millions divided into shares Of One Hundred
Dollars each TO be paid for at the time and In the manner
hereafter provided for in Article Fourth of this Charter
p The Company may commence business as soon as Three
Hundred Thousand Dollars shall have been subscribed but
'ash n sS eeT ifF sas 81 sso & e
paid IN full and transfer Of less than one III share PEI
assuming allnde9edRess thereon =. d, A.,
Transfers Of stock shall be mage On he DoqSs 81 Ine
while indebtedness to the Company exists on the part OF
s. In addition to the Capital Stock of the Company
ngept fund 3hal gs created q s2ni q ~ R5erest 5e
received from otAer sources thah PREMIUMS rom s W
paid dividends Of interest shall be made Y Stockholders
q a she ci9e q the nsqa Sear aiSe aeHSns ts mi
d ss X DECLARED on the amount Of the st3S
trustees direct provided that II t4e contingent fund
dean ~ b m mad m n & out Of ne net profits Of
'a T5 H ddend t1 S cover all participation in profits
he Company except as hereinafter PROVIDED oT N 9
Any excess of the fund after payment Of the interest
p s p[pyueG y Hn ~ I All oter funds
IF ths 0 axcet ts Csrit Stot shan have been
and shan always e as foff Ts a G le
hoasand Dollars the surplus PeyeRd heh aPpFo
ppedient '-'-1 'NN- - 'N'''
ARTICLE FOURTH
An persons who have subscribed or may hereafter sub
scribe to the Capital Stock Of this Company shan p on or
Ten Dollars on each share in cash passing their notes well
approved to the Company the remaining ninety per cent
Ninety poars share payable such times as the Board
said notes shall contain clause to the effect that if
the Judgment Of tie Trustees tie necessities Of The
Company require it, these notes any portion of them
shall be due and pagablea such sums anda such times
the Trustees may determine after thirty days notice
thereof published in the Official journal Of the City Of New
Orleans provided that less than Thirty Days shall inter
between the time Of payment for each nstalment
The payment of said attachments same,
above provided for shall forfeit the entire Stock to the
Company together with all accumulation thereon and all
Trustees extend said payments for such time they
deem proper.
For the foregoing subscriptions, receipts mot transfer
able signed by The President Secretary shall be issued to
subscribers, acknowledging the amount paid In cash. and
notes yep which receipts shall be surrendered the Com
pany issue OF Certificates Of Stock provided for In Sec
Subscriptions 70 the Capital Stock Of the Company sub
sQnen to its sa upon tie same the
1Dri,ip al
g. Until the Whole Capital Stock is taken the subserip
ton Book shsn remain open subscribers throughout
the year but shall oe closed to oekhoders dnngthe las
4 No stdckhoder shall any be made liable for The
losses of the Company in any argtr sum than the amount
% her OF their subscriptions to the Capital STOCK and MS
,n,,,,- -----
/ VISA G.-isGJ E9 A.4islA - 20 q. E1a= #H.
Tho mora ectually to carry ont the objects and purpose:
| OF This Corporation, il is hereby decraed:
That file Capital Of tine Company or any portion thereof
once snbsoYbe shall never De used for the liuuidatien
losses or for any purpose, all other available
Whensverit shall been necessary to any portion
of te auai OF the ompav r the Humiliation of losses
otherwise dividend shall be paid until said
losses shall be made good ali earnings aud profits from
whatever sources derived shall bs reserved until the Capital
/ is re.esablished
2 That dividends declared as provided for in Article
and in seetion Of Art of this Charter shall be made
payable 10 me stockhOde Or their legal representatives
casa the discretion the Trustees provided that dv
deid shall paid while there exists any malred indebted
ness 81 Whatever kind against the holder but the shall
l. That within the mouth Of Nay, in each and every
year annual statement shall be made April Both
cedng inclusive in the following Eper to wit Show
ing the anount premiums resolved on Fire, River
Marine risks each, deducting ths-oFrom the
SANG no1 refi1 S ~ a5uh 9 9sSe
return premiums and cash return less savings The balance