New Orleans daily crescent., 1866-08-02
CHARTER.
QUARTER OF TIRE FACTORS AND
TRADERS
INSURANCE COMPANY,
OF New Orleans.
srArz or LOUISIANA, pARlsn or oRLEANsi


whose names are Seeio ooEpoSsofs do hereby
cstsd with US ~ se pon pnchaSe rsnstsy % I ST speees
Sion Corporation ANGER ns S "a ond 'G bs H9e pS
npnp the following spnaons to govern the same the
n Charter of ths said Corporation:
o ARTICLE FIRST.
The domc Of the Corporation is hereby established in
sd II ssl be designsed and known under the name Of
! THE FACTORS AND TRADERS INSURANCE COM
shan commence business on or about the FIRST day Of
dste # is GIarer uuicss ts affairs should BE- sooner iqa
dated and settled up by order of words of the votes Of the
II shan have seal and the device upon the same shall
be the INSIGHT Justice with tile name of the Company
Tho President or in his absence the yic President or
tiOns in all suits against the Company.
ARTICLE SECOND
The objects and purposes of this Company are declared
TO make Insurance Dwelling Houses Stores and other
buildings Household Furniture Merchandise other prop
| erty, against los, or damage by Fire
boats Goods Wares Merehandise Specie Bullion Bills Of
Exchange Commissions Profits Bank Notes and other evi-
make max ~ aad every Insurance sppeaiPng to or connected
To themselves o be Teinsared against any Risk
upon which they have made shall make Insurance
/ THIRD.
The Capital Stock of this Company is hereby fixed at
ONE MIHLIoE 9F DoHLARs with he privilege ofncFsas
Dollars each o be paid for at the time and the
2 The Company may business Three
Hundred Thousand Dollars shall have subscribed but
Il 9 saooR sha & issued until the same is
paid n ia and no transfer Of less than full share
assuming alindebtedpess thereon.
o. Soeh sia Pe MADE on the books OF the
whe any indebtedness to the Company exists the part
In addition the CAPITAL Stock of the Company con-
ceyed Of proBts IN sT y ss q ~ i9Serest I'M e,
received from tha m s ] any ana o. an amounts
after the current expenses Of the Company have been
~ % u " le'es W shall oe made 70 stockh9lders
pnses ETC. from the contingent fund interest dividend
paiG III an @ m da of m n TnG amount @ Of 5e s9ss
sIses S IS may direct provided that if the contingent fund
eb n 9pq @ m A. 0 3 gay ths sad interest thsR the
the staga business ,',s Of Of The 3i yeaF
sha c9yer a partieipstion n the profits of
section4 - '''4' .
i Excess o. tae fand IN atteT pagmeRs Of The interest
one1ed exeept o tRe S6yept @ f a M sab h q9t @ Ge
Of t6s Company TIE Capital Stock shan have BEEN
Capital Stock until be sane sI aopnt n P0eoq u @ i9r ag
prated from wear to ysar m tbs = SSn may 9e appfo
An persons who have snbscribsd or ma, 81,
before the FIRST business day Of Company per cent or
aen Dollars on each share in cash passing their notes well
Of Ninetg Soas e bs q a f u n ninety per
y 9t2 'Eas5ees Sie a nay deteTTnine eiT
the Judgment of the Trustees the necessities Of The
ba ~ & gnife @ 4 these notes OF any portion Of them
5ar as ae trnee may fesEaine after thirty days notice
Orleans provided that less than Thirty Days shall inter
Fene 9steen me til1e Of payment for each nstanent
ptosiasg Ig snail forfeit the entire stock To- the
interest benefits thereuno belonging provided thst the
saa Tor such time as they may
abe signed tbe President AID Secre4ry shall be issued to
y s, "aen ~ Ieeslp snail be surrendered TO the Com
sien q &, Z, Artiels 5saiiae,iI ~ ]. II
suoscptens to he Capital Stock Of the Company sub
senen 70 ITS snail be the terms
= ~ tTs,t Tnt,, ~, h,,. \, ,,,
en Book shall renan open for subscribers throughout
but shall bs closed to Stockholders during as
three M months 9f each FISCAL year Of tine Company.
ss;a ~ snail IN any event be made liable for the
Ma her u ther sulcpons the Capital Stock, and his
.,, -
-
Of ibis Corporation it Is hereby decresd ''N
once subscribed sha never be used tr R RI
losses other purpose until all the other syaabe
Whenever sa hive been necealy @ ts "a Id @
Otherwise no dSe1d shall be deoard n nS OF S 9Ie q Fl
losses sha bs made goed AL earnings profits from
| is 70 e established '1' 4p''''
and in Section 9t Article Of this Charter shall be made
cash At the discretion the Trustees provided that ne yi
es of Tbatey n s T tnes esss any matuTed indebted
Dc paFsSd fst to sSS t5s credit edit Of said until satisfied
vaa s XIV mnin sna month 9t May, in each and every
eea'ng, inclusive IN the following to witt / SHOW
Mse a 81 pemnms received on Fire, River and
I my terI1.ateu showing the amount of losses
pu ~ FNhes anu Marlne risks each, reinsurance
iI X . tsh Ietufh IesS savings The balance
th 5aanee s b ee ssn 0ps on premiums for the year From
y WI " must nfst be taken the balance
@ sr ~ ~ ~ oEuea among the Stockholders OF the
pro Its on ths amount OF earned premiums
the year provided that tbe divided
~ Wy one year exceed sew nty five per the
aay Of anuEy OF each and that surplus over th
cent shs ee carried 10 the credit Of the CON
Dars 6s os o Tens mo 6 s Gf eS hfn
pu tlht ~ sach sums shall be carried to the credit
" < ~ S1sat " usin5eIJ M i iJ i Jug. e. ~,
no dividend declared shall bear interest and that any
or the term Of three years from the date
ha DC forfeited to the ompany and to the
VI e iahd after the publication of the
~ o weeHs snecessyey in the Official Journal
% 4 w my 0i.S 49, q !, " i4. oEle4ns.
pH[eea lh5urihg WIN the Company who
ockholders there such cash rAuru as the
useeS may, from time to time determine, that any
stockhol1er receiving said cash return forfeit all claim
wv n the profits of the company
provided form section Of this article Of the Charter
That all premiums all be ana PAYABLE In cash under
the rules and regulations from time time adoped bF the
Board Of Trustees.
That within the month Of May 1857 every year there
aer the President sha cause to be made statement of the
ne prons Of - Company provided for section of this
ana shal cause the same to be published least two
tne cy of one mouth together with statement
ssseI o. t1e company dstingu hing the portion same
ID IN cash ana he portion thereof securities
anu tne nature thereof RMS publication shall be made
" .e feden ana secretary, and shall be conclusive
auu o'huing upon an persons interested,
ARTICLE SIXTH
l. All the corporate powers OF the said Conanv sbo h
exercised by Board of Trustees and snch otar @ 0
clerks as they may appoint
he Board Trustees shall consist Of wenyfYe persons
bn nass1 - t b % or m qnoinm Tor the transaction Of