New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-08-22

sos importation under the law Of ~; State
noa the following srpuations to govern the same is the
Charter Of the said Cooperation
FIRST
The domieil of the Corporation hereby established in
the city of New orieans Parish Of Orleans State Of Lou
THIS FACTORS AND TRADERS INSURANCE COM
1t shal commence business about the FIRST day Of
September 1855 and shall exist for years from the
d ane settled up by order Of words OF the votes Of the
& It shall have seal and the device upon the same shall
be the Insignia Justice with the name Of the Company
4 The President or his absence the Vice President
"a VI s DC G pt3PT oSsT upon whom to serve eta
ARTICLE SECOND.
The objects and purposes Of this Company declared
l. TO make INSURANCE on Dwelling Houses Stores and other
buildings Household Furniture Merchandise and other prop
To make Marine Insurance upon Vessels Freights Steam
boats Goods Wares Merchandise Specie Bullion Bills Of
denees Debt Boomy and Respondents interests and to
with Marine Inland Transportation Risks
70 cause themselves to rtinsured against any Risk
upon which they have made or shall make Insurance.
ARTICLE THIRD.
The q2Pita Stoc6 Of this Company is hereby fixed at
ing to Three Millions divided into shares Of One Hundred
Dollars each e be paid for At the time and in the manner
The Company may commence business soon As Three
No Certificate Of Stock shall be issued until the is
mitted except the pleasure Of the Trustees the ransree
assuming all Indebtedness thereon.
Company at its office in the city of New Orleans only but
he hodsr Z me company sA'' q 'he part q
s In addition to the CAPITAL Stock of the Company con
tngent fund shall be created consist Of all interest
ceyed ofprohts loans and investments and Of all
after he current expenses u the Company have been
paid diEdends Of interest shall be made to Stockh9des
q A. the close Of the hsca year after deducting the
psnses etc. from the contingent fund an interest dividend
an VEIN w ee rs n II IN saGf e n ns
deheen shall Pc made up and paid out of the net profits Of
These dividends shall cover all participation in the profits Of
the Company except hereinafter provided for in Article
Any excess of the fund payment of the interest
toache except for the payment Of losses after ali ether funds
Of the Company EXCEPT the Capital sock shall have been
Capital St9ek until the shall amount to Five Hundred
Thousand Dollars the surplus beyond which may be appro
pedient.
persons who have subscribed or may hereafter sub
scribe 70 the Capital Stock Of this Company shall
en DoIIsT o sarb S y spi @ PEI Gent az
approved % the Company for the remaining ninety per CENT
Of trustees may dsferane ' A''' e' 40 'o 0A'u
Tx Ps5d notes ha contain clause 70 the eject that If il
Company require il these noes, any portion of them
the Trustees may Determine after thirty days noee
brog IL s s tS Bsvs e # 6 NsT
9ens between the time Of payment for each nstanent
As above poEdad 6R n9 e 70 eS e.
company, 9gstReF Eih gu aeegnu alton thereon and gu
Trustees may extend sAid payments for such time they may
For The foregoing subscriptions receipts mot transfer
able signed by tbe President A. Secretary shall be issued
subscribers acknowledging the paid in cash and
notes given which receipts shall be surrendered Com
lion s. Article iii. P'e'-'e1 ~ - 80
Subscriptions The Capital Stock of the Company, sub
seq9eh to its organization snail the same
th ba & " c Sed S @ @
q w "a Dft ha fnF1u
M stpckder shall in any event be made liable the
his IF h IL n e eaea fe a R5 s9 s
her, or their indebt' dness to The Company.
Article FIFTH.
The sectualy carry the objects and purposes
Ihi ri sba 2 s e pGG1
q the Company have Tst eEhaustsd
Of the Capital Of the Company or The lqdton losses
losses shall good; out ali earnings and profits from
whatever derived shah reserved until tue Capital
Thss A. dividends declared provided for in Article III
cash q he discretion Of the Trpstee provided that dv
Of whatever knd against holder but the same shall
be 70 ne eeat OF saia Indebtedness until satisfied
year the annual Statement shall be made up Apr Both pre-
eedng, inclusive in the following witt Show
ing the amoant Of premiums received Fire. River and
Marine risks each dedact1g thereirom the Of
paid Fire, River and Marine risks each reinsurance
viii show the net profls premiums for the year From
this balance The deficiency if any provided for in Section
then remaining shall be divided among the Stockholders
paid in within the year. provided that amount so divided
shall not IN any one year exceed five per of the
Capital Stock Of the Company held by each
Gay Ct Jsnaary q each ear and that surplus over the
tngent und and provided further that Of less than
en- DesTs fractional parts Of Tens Of Dollars shall be
s. That no dividend declared shall bear and that any
dividend unclaimed the
DECLARED shall be forfeited to the Company and
credit of the contingent fund after the publication Of the
once Ter four weeks Excessively in the Official Journal
6 That parties insuring with the Company who are not
tocRholders therein may receive such cash the
steekho Ter receiving said RETURN shall forfeit all claim
to any PhgT @ n the gTo Of the company as
~ dns a a 30 dae and payable Il cash under
Board Of Trustees - 'D'
s That within The month Of May 1857 and every year there
aer the President sha cause to be made the
net profits The Company provided for in section Of this
q the city papers for mouth together with statement q
VI s 0 di 5s e Sea hpg he portion Of
o ond 60 & Th lion b be made under
and binding upon all persons interested.
ARTICLE SIXTH.
All the corporate powers Of the said Company shall be
exercised By Board Of Trustees and such other officers
1ie Board shall consist Of
buiness be elected the Monday April Of each
year at such place the c Of New Orleans the Board
Least fourteen days previous notice b Eyen two Of the
public newspapers printed in sad city The Of trustees
shall appoint three Of the stockholders of the corporation
spector to preside ct such eections and any Of said
apsctOrs decline fail attend the President eppOnt
others to ell such vacancies.
The Board Of Trustees thus elected TO their seats
econe Monday in June after the election and to bold
te same one year herefro until others are elected in heir
l. Those persons receiving plurality Of votes shall be con-
sdered duly elected In the Of election taking place
the day aforesaid the President shall election
take place within ten days thereafter give
same by advertisement in more Of the public newspapers
The Board Trustees ha annually at their rst meet
Ing elect Presdeht and Vice President who shall their
election pc ehoeo members of the Board oil Trustees and
they shall mold their offices until their
and qualified The Pre- dent shall preside az all meetings Of
the Board OF Trustees the the
Of the eompapy and shall conduct tho business the COM
pany generally under the supervision Board Of trustees
The President shall preside meetings Aforesaid
aoenes q the PRESIDENT and in his absence shall sign
the policies OF the company
The Trustees shall fix the compensation Of officers and
clerks employed or elected by said company.
They shall invest the profits of the Company from to
time hereinafter provided for They shall have power 10
opt such Laws they neces ary and conye-
nent for ha and regulation of the Company
contrary 70 this charter to the Of the legislature Of this
state providing for the organization and regulation
ra4ons approved March 10Th lS5 and March l5t 1856
Noperson shall be Trustee OF this Company who does
ns az ire time Of his election and durnghs Continuance in
Office hold in his name tie commercial
hrm which be may be member at least shares thu
capital stock thereof
y Each and every Stakeholder shall entitled at elections
share Of the capital which he she or they may respect
lively hold but not to to him or theo
transferred within three months prior TO said election.
ARTICLE sKvENrH
It shz lawful for the Trustees to invest the capital
anu othef monies Of the Company in bonds
ss oa Iea estate y the parishes orleans Jefferson
every case the properly shall