The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1868-04-23


may be taken Company and for It's beae pur-
chas from time to time policy policies o. or
An citations notices. and thsr legal process wherein the
10 be sppozted the manner hereinafter provsed for.
ARTICLE THIRD. |
The capital stock Of Company shall be Eve hundred
dosr dSsd 9 sa1 a. ,bs a5ss
and in the manner following, 80 VT: - -.
hands Of the resident upon Organization for business the
dollars each and share of stock subscribed
demand at the oce Company .ae fifteen days notice.
sucn demand to be made only IN case the losses tne Som
% pay the same The said capital Of Ave hundred
thousand collars may be by twOthrds vote the STOCK
hoder extended amount not to exceed i've million
uO"Ai' ARTICLE FOURTH.
conorate pows of the Company shall be exercised
by Board fifteen Directors five OF ~hom shall constitute
The following named Stockholders hereby constituted
the t Boar q d. ss;os =, and invested with all the rights
John P.mSertOn, Tvs s PIKE EdTs'S se sSnsy'
O. H. siocomb. A Thompson. Alexander Marks,
De bCnd Eo.ac gaB MSys Smith EDWARD Barnett
The Board shall their first nesting in every year elect
from the stockholders President for said Company
who shall o9 be member o. d sSo a SSao n sna whs
Company and sign ali the policies and shall conduct
snS eoStro Of the said BosTd
10th that the term Of service Of the whole number Of
and every year Board shall by lot be divided into
hTss S n s % G@e aeS
class second class and thru the term Of sS2ss
class in year hat Of as .seona c1,s = two YEAR; and
Say Of April in each aud every year eater shall
holden tie Office Of the Company IN the city Of New Or
the Board Directors election for in the place
bh said election pevious notice Of not less than ten days
given by public advertisements IN two Newspapers
Directors meeting of said Board prior such
eeetos 70 sppont three n ne1 no
pernterd and conduct the same and 60 certify TO said board
decline fail 20 attend the President shall have the power to
sppont Others 20 I'll the vacancies Nothing in TINS act con
/ bic to reelection 10 said Office Of Director
duy eeced and sha take their seats the first Monday
Of Msy after the election, and shah hold tbs until
tsRis place on the day sxed the Preds0t shall cause
notice thereof by in Two OF the papers pub
shed in the ct' Of New Orleans repeating the NO
Zach sno every s'ockhoder shan be entitled per-
% or iT e saO O sS s a NO re-
tons shall be entitled TO greater number Of than atty
any share transferred 10 him or them within
ninety days prior to such election.
ARTICLE FIFTH.
No person shall be capable of bng director Of said Com
who does not AZ he time Of his election and during MS
merca which he may be partner shares OF ths
either on biz own lie or that Of any other person or
his bepsh for the Of at leass five thousand dollars.
! ARTICLE SIXTH.
The Board Of Directors shall amount copsu
all officers clerks snd employees Of lhs Conpany
they the profits and gems Of the Company sm
sdoot rules and regulations for the proper govern
Of the Company nnd the factions Of It's affairs and
shall not conflict With the laws Il this State Or the true
tent q this ACT d b he al, have I
which may be necessary carry into fun effect the objects
to IN al vacancies Which may occur in their
or in the presidency.
ARTICLE SEVENTH.
The Board of Directors shall have power invest from
and al Of In
and uni numbered improved and unimprved
deemed double the amount loaaod
also invest the profits Of the Company bonds
of this sste Of hi. city Of Corporations of this
or make loans or pledge 81 any Of the sOsssa
obtained by Of security stock pledged
debts previously contracted public upon
judgments orders Of obtained by said Company
to TIE said Company concerning the opera
so construed as to authorize the said Com to engage in
mercantile agricultural business, in commission.
any kind; provided also that Tie Company shall have the
right purchase property building for the Of
tablishing their Office tuerein.
ARTICLE EIGHTH.
No stock shall be transferred transfer be inside
the books Of the Company at their place Of business at
% 10 te opan, ssiss on he Dart Of s1eS
tOeshedsr BUT sLockheder to transfer stock
party provided always that the OBLIGATIONS pro
70 Se Board Of Directors And the sid board Of Drscor
shall any the right require additional bond
curl y the deferred payment insufficient -. =.
IN ~ not &c Ts'Po1soe ,sr Losses OF
al stock held and owned BY him or them respectively
ARTICLE NINTH.
In the month of April Of each year the President and d.
of The Company shah make cause TO be de By
losses Of the Company and also statement OF all cash
preceding twelve months and by whom paid which state
shs be verified by affidavit and hed with paper.
Interested And shall appear from gh sts,ement q Z
the ohts Of ne Company DO exceed its losses and
President and Directors shs make no divssnd TO the sOck
but such percentsgs Of shah be ksOt BY the
sssys .na 70 meet future es, ,, OF ~ Liabilities
the Company exceed IFS losses and BY than
cent ane-hsIf Of such they
snd the residue raseaby apsOronet
soso1 Ss int q S By s
and The amount Of premiums pd By each nsurer and hal
and the dividends awarded the Stock
hs be entered as credit on their stock respectively
@'''-' ''' ARTICLE TENTH.
Any policy Of insurance issued BY this Company for thu
Leneht advantage Of he wife dow children. father
mother Of any individual shall held msds liab
fr debts contracts Of the person Who's
event Of the dsessse ofhe person whose life is may Be
shan be paid 70 ths person nor Or persons ssnsh nal, n
discharged Of a. from AL preexsng debts contracts
whatsoever Of the deceased except shOs
Of the Company.
ARTICLE ELEVENTH.
At the time Of the dissolution Of the Charter Of this Com
pany. sooner IL ordered by Of the Stockholders
hereinafter provided for the affairs Of said Com shall
hquidsted is debts paid under the charge and supsnen
deDce of three Commissioners be the Boar
Of Directors, and who shall remain in Office until the hns
liquidation Of the affairs Of the Company.
ARTICLE TWELFTH.
This oct Of Incorporation may be modified. altered 0
AMENDED the said Com dissolved. general meet
ing Of Stockholders be convened for that ae
hy Gays notice in the English French Languages,
aforesaid herein provided and with the
hrseouths Of the stock represented At zach meeng;