New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-08-18
CHARTER.
CHARTER OF THE FACTORS AND
TRADERS
INSURANCE COMPANY,
OF New Orleans.
sr,yr or LOUISIANA, PAR1sH OF oRIEASs:
OF New Orleans.

aS among elves and such others as become sso-
cg %n " pSe III general law of Ills Sate pro-
ding for the organization 81 Corporations aud have agreed
Charter Of the said Cooperation:
ARTICLE FIRST.
The denc Of the Corporation is hereby established in
the Of New Parish Of Orleans, State of Louisi
and il shall be designated and known under The name Of
3 It shall commence business On or about the rs day Of
date Of this Charter unless affairs should be qq
dated and settled by order OF wohus oil the votes Of the
1t shall have seal and the device the same shall
be the insgnia Justice with the name OF the Company
The pFssaeRt or in his absence the Vice President
tions in all suits against the Company.
ARTICLE SECOND,
The objects purposes of this Company declared
10 make Insurance on Dwelling Houses Stores and other
buildings Household Furniture Merchandise and other prop
To make Marine Insurance upon Vessels Fsights Sfea
Exchange Commissions Profits Bank Notes and other sy
with Marine or Inland TRANSPORTATION Risks p.
upon which they have made or shall make Insurance
THIRD.
o m Ga9 Ss6 e f S pse
in it 70 Three Mons divided into shares Of One Hundred
bsse p6 G 9 ' Of his Chatter
Handred Thopsa9a Dollars shall have been Subscribed but
each fiscal year shall end on April S0th -, A., =. :,
paid in full and no transfer Of less than one f9 share
ns.in eA 81 n A. ~ tbsreon st
Transfers q stock shall be made the books Of the
Company At its office in the city of New Orleans only but net
while indebtedness to the Company exists on the part Of
In addition to the Capital Stock of the Company
ngent fund shall be created to consist OF all interest re-
ceived profits loans and Investments and Of all amounts
received from other than premiums From this fund
after the current expenses Of the Company have been
At the close Of the fiscal year after deducting the
pense etc. the contingent fund interest dividend
shall the OF the stock
paid in and from the date Of its payment at such tme az the
should Be found insufficient to pay the said interest then the
deficiency shall be made up and paid out Of the net profits OF
dividends sha all participation in the profits Of
the Company except hereinafter provided for in Article
Any excess Of the find after paymea. q The interest
touched except for the payment Of losses after all other funds
exhausted and shall always be held as protection for thu
Capital Stock until the same shall amount to Five HUNDRED
prated from to year. as the Trustees may deem ex
pediens.
l. An persons Who have subscribed may hereafter sub
scribe to the Capital Stock Of this Company shall pay on Of
Ten Dollars each share in cash passing their notes well
approved to the Company for the remaining ninety per cent
Of trustees may determine
the Judgment of the Trustees the necessities of the
Company require it these noses or any portion Of them
thereof published ID the official journal Of the CITY New
Orleans provided that NOT less than Thirty Days shall inter
between the lime of payment for each nstalment.
as above provided for shs or5t lie entire TIE
& sgs SeIanago Sta5S progied hat tie
Trustees may extend said payments for such time they may
For the foregoing subscriptions receipts not transfer
able signed by The President AID Secretary shall be issued TO
subscribers acknowledging the amount paid III cash. and
given which receipts shall be surrendered to the Gym
issue Of Certificates Of Stock as provided for in Sec
Subscriptions to the Capital Stock Of the Company sub
70 its organization snail be the same terms as the
n BooE Rs1 femai open o new sasserpe
tie year ba Shall be closed to Stockholders durD asi
2 NQ tooAhplder shall in any event be made liable r the
Loses OF the oGnpSny IN sum ss2 d the G H.
her, Or their indebt,d ness to the Company
AErtcLE TtFrH
The more eecuay to carry out the objects and purposes
Of this Corporation, i is hereby decreed;
subscribed shall Bs used ortRe liquidation Of
resources the Company shs have bssT Fst sSsased
Capital Company Liquidation Of losses
otherwise dividend shall be declared paid until said
whatever sources derived shall be reserved until the Capital
That ali dividends declared as provided for in Article III
and in secon OF Article Of this Charter, shall made
casa at discretion the Trustees provided that no dy
dend shs oe paid while there exists any matrred indebted
be passed the credit Of said Indebtedness until satisfied
year the statement shah be up April SOth pre-
ceding, inclusive, in the following witt Show
49, aac, Sa5neti1. thsSSf.oI ~ 49, ~
s ~ III i9;er on5 Afsa S IL b "a 20
p. . ~ sTd oash rst,r s tsHs gscn' W. ~
sb The net nToSpS on ra,imnS S ~ re ,eaT ' F
ills 6aancs the deficiency if ny IS provided Tor IN Section
i, II 1891 sr nc s, $500 r ~ M NJ
i, Nm ,sta IN IL ayoSnt AZ s,r,,ed NJ 5, 90 M
5IsIt ~ IL 49,. ~, aar rraa5 a. 80 80, ~ ~
s a T. ~ ~ y dShas Fe pe eehi o. .ne
@ N AZ AZ IL "a md M ~ nI,s as NJ
S Sc carried S credit 81 he
@ @ a s r ne I'm % III InT N
30 ied INF tlf ali sncb snTos shall bs raTS IL ths crst
of M e S1 NJ cent IN 49, ~ ~ " eN " ~ N
K rIst ~ M rod cha oyd that any
divded or The term If three wears Ma datg
aisS sI,oii n - H. at5 e., ~
ne XII ana cared Y IN,
ancs vel fpr fn7 peLs tss Iop1pa
oftse CIty Of Nv oriesns '' - VIZ
I,at narties nsnrino with the eonnnanv ,vlo are mo-
.5ssair no s,1s1 eeh' stnT a IN
.hee a teese sueH essn return ~ IN
t ia 5 ~ ~ -, 49, sIaii t tFit ~ ,a y
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y NY ~ ~ se " nv
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ie lu aes VA1 tio " 'he AuVp'Du " th
ot q M y isi; 81 o,l Ma, 1es7 l 49, 4
ti o9i' aua etety y e y IN
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ne LIZ u s ~ ~ ~ II ~ ~ -, ~ IN
~ III IN ~ W. f y ~ ~ M re-.
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witch Il IN ssh and IN nno heraf fnyested in sec1rities
VI X y 80! ,l s HI " f. 1eiI III
tt w ~ ~ ~ d u III eiaii ~ v ~
0 mi ~ ~, 80, IN 1880 ~ A ~
80 -s 49, - F -
ARTIcLR SIXTH.
l. An the corporate powers Of the said Company shall
exercised W Board OF lruStee and such other scers an
y he Board o. Trustees snail consist OF persons
Sseyen Of whom shall form quorum for the transaction
year al ueh pIace N the q Of New Orleans as the Board
Trustees shall desgna0 Of which the President shall