New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-08-23
CHARTER.
6vHARTEE, OF THE FACTORS AND
TRADEBs'
INSURANCE COMPANY,
or New orleans,
STATE or 1ouis1AsA, PanlsH ORLEANS;

forpnrsti0n under the general Jaw OF S slte pro-
ss, 5 e sowng sapuiatons to govern the same the
} ARTIcEB FIRST
The domc Of tie Corporation is hereby established in
ne city n SeT Sfssgs ss II n 9ee9s ste 81 L0usI
1 IHE FACTORS AND TRADERS INSURANCE COM
shall commence business or about the first day of
date o VIII Ghsrter nes It's affairs shc2ld Sc sooner Ioe
ded end settled b5 order Of twohds of the Of the
i sinai have seal and the device upon the same shan
6s the nsgna Justice with the name Of the Company
The President in bis ebseuee the Vice President or
items in all suits against the Company,
ARTICLE SECOND.
The objects and purposes of this Company are declared
10 make insurance Dwelling Houses Stores and other
erty, against los OF damage BY Fire = r
~ make 4sgns Insurance upon Vessels Feights, Steam
sxehange Commissions Profits, Bank Notes and other e
aenees 81 Debt Bottery and Respondena Interests
make FL and every Insurance sppertaning TO connected
To cause themselves to be rensured against any Risk
upon which they have made Or Shall make Insurance.
ARTICLE THIRD.
I The Capital Stock Of this Company is hereby Hre5 Il
ONE MILLION OF DOLLARS with the privilege 81 iReraas
HE T. g Three Millions divided into shares Of One Hundred
hereafter provided for in Article Fourth Of this Charter
Hundred Thousand Dollars have been subscribed but
NJ ceacs s1i u sp Io 81 sal ~ , ~
pad n fu and no transfer OF less than full share per-
assuming aliinds6tedness thereon Wv
Isnsser? 81 Stoe shan be medo On the books Of the
While Any indebtedness to the Company exists the pars
In addition to the Capital Stock of the Company CON
eI na snan Re created 70 consist Of al interest
received from other sources than premiums From this fund
b e e' made SdPeSs aaas 9ssa
2 A. tae close Of the fiscal year after deducng the
Of ser cent shall be declared the the stock
Trustees direct provided That te contingent fund
should be found insufficient pay the said interest tsn the
be m nyfd hoft
These dividends shall all participation the profits Of
ne except as hereinafter provided for in Article
excess Of the fand after payment Of the interest
dividend above provided for shall accumulate shall not be
ii the Gompay except Tie Capital stoe shall hae MN
and shan alSays be held protection for the
Thousand Dollars the surplus beyond which may appro
printed from to year Trustees may deem ex-
ARTICLE FOURTH.
. Az persons who have subscribed, may hereafter sub
before the first business day Company ten per cent or
approye to the Company for the rsnain ninety Der cent S
g Sity Dollars PER share payable at ach times the Board
,s s i n9se sha contain clause ohe eee
Company require Il these notes Or a1 ertion If them e
snail 0s due end payable IN such sums and at such times
Tisas provided that nos ies t6 hirt Deys Sa i5t
yene between the time Of payment for each insfalmen
Ihe noupay uent Of sad notes nstaents On same
Company sogetheF yith al accumulation thereon and all
Trustees may extend said for such time they may
Fer tbe foregoing subscriptions receipts mot transfer
able signed BY the President Secretary shall s Issued to
@ gsn Tsl rs Sqns gs!d ia q e9sh and
IN lssns " Of stoeka provided for in Sec
Subscriptions to the GaptaI Stock Of the CorDan7 sb
segment n is organization anal Be upon tie same
8 Until me whole Capital soqkis taken up the sbsari
the year shan Bs closed e sooboidss during tSe ia
q he
losses Of the Company in larger than the aouat e
her. q theiF to the Company 70SA 1 ~
4ualeLn FIFTH.
The eectually carry the objects ard purposes
Of this Corporation. II Is hereby deereed:
once subscribed shall never BE- used f5hs liquidation Of
resources Of The Company shahave bss rst exhausted
Of hs Capital u ths Gom5sn S ia I n ss g posoa
otherwise dividend shall be declared or paid un said
whatever derived shall be until he Capital
dividends declared as provided for in Article M
and IL Section Of Article Of this Charter be made
end SHAH be BAD while hers Exists v ia S
20 passed to the credit Of said n4ebtednea until satisfied
year the annual statement shah be up April S0 pre-
eeding, inclusive IL the fnioEng to wit: Show
ing the anopnt Of premiums received Fire River
9lnrine risks EACH dedpetlng thererom the of
paid Fire River and Marine rsks each rsinsuranee
I l p m t ny aash reasa ess sayIgs Ihe balance
this balance the deficiency 5ny provided Tor in Section
Then reanng s6ai e divided anon soeEbold e f
r. Pf2 ta q ha q earned premiums BY each
shall not in any one year e4eeed seventy five per the
i've pr eet & g sq .go g snfPns eyer the
nssIt fund.- and provided further that Of less than
Zen Dollars fractional parts Of Tens Dollars shall
divided but that al such shall carried to the credit
s. That declared shall bear and that any
dividend unclaimed Tor the years from the date
declared shall be forfeited to the Company carried TO the
once week or four sucessseyin the Official Journal
Ihg partiss iasnriag with the Company who are not
stockholders therein such return as the
rseeviag ssd ha or spa Al te aa ann
70 anS IN the profits Of tho company
NJ st an ssel. be que and pay4be "a cash under
That within the month Of May 1867 and every yepr tere
e the President sba cause be statement OF the
ne profits Of the Company, provide for section this
Il the @ papers for mouth together with statement Of
9e setS q sbe CoqRany the portion Of same
e \ ~ es aaa ne portion thereof invested in securities
a t ae eereo Ihis pg6eatoa shall be made under
and binding npon all persons interested.
ARTICLE SIXTH
All the corporate powers Of said Company shall be
exercised by Board Of Trustees and such other oeers and
q The Bosrd II Tfasees shan consist of persons
@ i se Msds Il Pl Il sae
e. ss sa N e: g Ct s gsas A. the Beard Ct
az sas fourteen days preyisps notice to be yen two Of the
Shall appoint he teehoideTs Of tie sopoTation, M
spectofs to preside at such elections If any said In
peetors Decline VI a e attend the President may appoint
Others TO ill such vacancies. m
The Board Of Trustees thus elected to take their seats
the econd Monday in June AFTER the election and to hold
the same one year heefrom until others elected ia heir
stead.
Those persons receiving plurality Of votes shan be con-
IN day aforesaid the President shall election
70 s place within ten days thereafter. and give notice of the
e " in one or more of the pnbicnewspapers
published in the city.
The Board Of Trustees hall annually at their Hrs meet
ing elect President and President who shall on eir
election PC eIoso members Of the Board Of Trustees and
tnef ahsi hou ner eess until their are elected
aud quAed The Pre- ident ahA preside Al an meetins az
the Board Of Trustees and at the ineetin t
Of tho company and aha conduct bnsipess al te COM
pay generally under the supervision Of Board Of trustees
il the absence f the Prescept and in his absence sha s
tie policies Of the company. ~ a-sA
The Trustees shall fix the compensation Of all oaaeers and
clerks employed or elected by said company,
They shah invest the profits Of Company from time 10
time as hereinafter provided for They shall have over to
apt such bylaws they deem necessary und cOnVe-
e iof the government and regulation of the Company
contrary to this charter the Legislature t
Stae providing for the organization regulation az corpo
fations approved March 18Th, 1913 and March 18th 1855
Noperaan Shall be Trustee of this Company who doe
e ~ we time o. his election, and durnghis continuance ia
Office hold in his Name in the name the commercial
nm OF which he may be member least shares Of th
| eGpatstoek thereni = u.s.
70 Each and sy Stakeholder shall be entitled at elections
ether II person o. ~ proxy TO one vote each and every
sfe q Shs capital soek which he she they may respect
yey hold but not g vote stock HIM or then
Hahslerfea within three months prior to said election.
i ARTICLE SEVENTH
lts6al he lagel for the Trustees to invest the capital
gases On real estate in the parishes Orleans and esro In
an amount not exceeding hall Of the capital soe and In