The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1868-04-24

corporate capacity
Ire objects and purposes Of sad Company ar. to make and
enter All Of contracts and agreements for Insurance.
Of lives persons. and e mshe and policies
Of human life and 10 do and perform generally every
thing he Of life Belonging or Ia
any tsning The said Company may Itself
90 Be sgnst loss any risk which
$ q s y snS ~ u5
other obg issued be issued by said corporation
~ nSS Rs s: . .Iss c .Gn a.a s
to be appointed in the hereinafter provissd for
ARTICLE THIRD
The capital stock q sSs Company A be ave hundred
ne buncred dollars each, s0 to be paid for at the time
The subscribers to me said Company shan psy into the
hAnds OF the resident upon m organization for business the
by them remaining nety per share payable
oepsnd at the cce othe Company ate, fifteen days notice.
psDy should % available hand
hs as si s % vote Of nIi s
hodsr extended TO an amount not to exceed i've million
ARTICLE FOURTH.
All the corporate powers Company be exercised
by Board fifteen Directors i've whom shall constitute
HE following named stOekhOdsr, are hereby constituted
and pow powers herein S spscssd @''A
}ohR FR,%SerOn s R.s Ed.'s s. ssnsy
Q. II. siocomb, A. Thomprcn, Alexander Marks,
7. Debondlo Philip Msyes. g r. si5sraey.
among The kholdsrs President said Company
NAL preside AZ AZ %ssnrs Of he aid Bosrd and snS Of SS
Company and shall tign all the policies and shall Conduct
hs If q the Sosmpssy under the
fotbe st the term service Of the whole number of
and every year the said Board shall by lot be divided into
class and shall be rsOees dssDa,ed ana known as the
hrt class second class ana hrd class the term Of whose
class in one year hat Of tue .econd class is two years and
that the third slsss IN three And on the third Non
baden e tie .ss ct The COMPANY me ely Of New Or
the BOARD Of Directors, election for place
and stead Of those whose term Of service shall he expire Of
shah given by public advertisements two newspapers
gublh' in this city and shall the duty Of the Board Of
Directors meeting of said Board prior any such
sestSs to appoint three no, Dirsetor in
The thereof should appointed
others 20 an the % % ss conc 10
81 shall BE- I, s s s9Ss any Director ns
receiving plurality Of votes cast shah Be considered
Of Nay after The siseos and 81 ali hold the same until
others elected in their stead In the Of election
election held days and shall give
notice thereof BY advertisements in Of the pub
lshed in the cit. Of New Orleans. repeating he
cessary. until such an election Is efiec ed.
she, they respectively hold provided that
any share erred 20 him them within
ninety days prior 10 such election.
ARTICLE FIFTH. ITa
No person shats capable of being director Of Com
psny who does not he time Of his election during his
contir in cce hid in his that
slscS Of said Company ,ne Be- the holder Of policy Of %
sursnce either on his own HE or that Of any other person
ARTICLE SIXTH.
The Board Of Directors shall x the amount Of the ccmpeu
saOn OF all officers clerks and employees Of he Company;
they shall invest the profits and gains Of the Company
sSa G Il. '1s sne
ment Of the Company and the transactions Of is AFFAIRS and
shall conflict with the laws Of this State in
do an perform ali acts and things no, herein provided for,
which be necessary to int full effect the objects
power all which may occur in their number
OF In the Presidency.
ARTICLE SEVENTH.
The Board of Directors shah have power to invest from
snd mortgages en- mi. cnmbered Improved and
real estate stusted this city whc. every case be
Tbey may profits Of the Company in any bonds
CT sOs created BY or under the laws q the United States
State or make loans or OF Of the aforesaid secu
obtained BY way II security Or Of STOCK pledged
or security Of conveyed them in
judgments odes seizure Obtained by ssd Company OF
Of any property nsySss or inmSvas which may have been
items Of It's business but nothing herein contained shall
nercant agricultural business, nor in commission
broksge stock jobhng exchange or banking business
night purchase properly building Tor the purpose Of es
tAbishing their office therein .1al.
ARTICLE EIGHTH.
No stock shan be transferred unless such transfer be sde
Ss Of New a no PSsf sds ~
any Indebtedness % the Company sss on the part q such
permitted to do 50 BY substituting the obligations of TIE
posed substituted sh- bs IN every respec ssscory
TO the Board Of Directors And the said Board
scrty rom any scekSss whenever they DEEM the SCI
cur y on the deferred payment insufficient
dan age Incurred BY said Company beyond the amount Of
estAl stock held and owned BY him them respectively
ARTICLE NINTH
In the month OF April of each year President and d.
the proper oer OF he an estimate 70 Of % hs nas
and Of the Company and also sts.sment OF all
sf:,s %ss' b s2S y .spT
Pi.Tssisa And shall eppsss from sSrh statement. the.
psnses BY ten per cent Of its cap tai stock TIE
fesdsnt Directors shall make dvasnd to the stock
e. saD y The Ss
Sy o% 70 oe q
the Company exceed It's losses and by than
apart portion thereof not less than ten PEI
cent nor more than Of such they
snd the residue Of such shall be rsesby spsoonsd
q each
and The amount Of premiums pd insurer and hall
% sS he e %
hall be entered credit their stock respectively
' '-''' '>'-' ARTICLE TENTH
Any policy OF Insurance issued BY this Company for the
use, uentit advantage of be wife father
mother, Of Individual, shall be held
for debts c0ntrscts
life 10 be insured, and all such the
event OF the decesse Of the whose life
insured shall be paid TO the oene6 tally
tereted therein 10 be held ny him. her them free
discharged OF ard from all preexsng debts contracts and
egmes whsts yer Of the person deceased those
OF the Company
ARTICLE ELEVENTH
At the time Of the dissolution Of the Charter Of this Com
pany or sooner ordered BY vote Of the Stockholders
hereinafter provided f the affairs Of SAID Com shall be
quoaed Its debs paid under the charge and superne
dence OF three Commissioners be appointed By the
OF Directors and shall remain 10 once until the final
Liquidation OF the affairs of the Company.
ARTICLE TWELFTH.
This act Of incorporation may be modified altered or
smeeed or the sad Com sny Dissolved 81 general
Of the stockholders be convened for that
thirty days notice In the English French Ian gusges
sesad and herein provided for and with the
three iourths Of the stock represented such
any and all such notifications. serstions
dissouon tha be recorded and pubishsd according
ARTICLE THIRTEENTH.
The and interests the parties 10 this
are hereby declared 70 be n follows, towt: Il
- No Of Shares. No Of sharss