The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1868-12-02

the pledrer on the books Of the association; and
should be fail TO claim the same within one year
from the dste of the pledge, ten per cent thereof
shall be paid into the hands OF the treasurer OF me
Charity Hospital, and the remainder shall be APP
piled and added to the capital stock OF the com
pany.
Der Of each year It shall be the duty OF the cash.
Ter to make, or cause TO be made, an esums'e Oh
the profits and losses of the Association and also
statement of all cash paid into the company for
or on account of the interest paid on pledges aud
pawns during the preceding six months, and
further statement OF the value of the property
held BY the company in pledge, as veil as the
amount Of certificates or pledge thereof not can
celled, together with euch other accounts as may
be necessary to exhibit complete statement OF
the affairs Of the said association as they exist, for
the information of the stockholders and all persons
interested and the said statement shall he verihed
by the affidavit of the cashier and filed with the
papers of the association, to be examined by all
whom it may concern, and If it shall appear that
the profits of the association do not exceed It's
losses and expenses by more than ten per cent. OF
its capital stock the Board Of Directors shall make
no dividend to the stockholders, but such percent
age of profits shall be retained BY the company as
a reserve fund TO meet future losses and 1ablhtes
and for the investment, according to the OBJECT
and purposes of the association. But II 1t shall
appear that the profits exceed the losses and ex.
penses by more than ten per cent. OF the capital
stock, then the Board of Directors shall reserve
and set apart portion thereof not less than ten
per cent. than one. half of such excess as
they may deem proper 10 be kept by the associa-
ton as a reserve fund, which shall be applied
above set forth and the residue of such excess
shall be rateably apporrioned and divided between
the several stockholders according TO the amount
of stock held by each stakeholder. $500.
Article l2-This act of incorporation may be
modified, altered or amended, OF the said asso ia
ton dissolved at any general meeting OF the stock
holders which the board of directors shall con-
vene for that purpose, after thirty days notice in
the English and French languages, Published in
ton 10 the city Of New Orleans, with the assent
of three-fourths of the stock represented at such
meeting, and any and all such notifications altera-
tons. amendments or dissolutions shall be re-
corded and published according to law.
Article l3-The board OF directors shall assem-
BILE at such place and as often as they may deem
it necessary. and shall convene the first general
meeting of the stockholders to effect the organiza-
ton Of this association, and on the first Monday OF
May of each and every year thereafter the said
board shall convene general annual meeting OF
the stockholders to deliberate upon the interest of
the said association.
Article l4-After the term of the dissolution of
this association its affairs shall be liquidated and
its debts paid under the charge and superintend'
ence of three commissioners to be appointed by
the board of directors and who shall remain in
Office until the final liquidation of the affairs OF the
association.
Article LAT every general meeting Of the
stockholders each and every stockhosder snsl De
entitled either in person BY proxy, to vote for
each and every share which he, she or they may
respectfully hold Prouided, That no corporations
shall be entitled to greater number OF votes than
fifty, nor to vote on any share transferred to him
or them within ninety days prior to such
meeting.
SEC. 2. Be IL further enacted. etc.. That
this act shall take effect on and after its
passage.
(Sgned) CHAs. w. LOWELL,
speaker of the House of Representatives.
(Sgned) OSCAR ]. DUNN,
Lieutenant Governor and President of the Senate
Approved October 81, 1868.
(Signed) II. G. WARxorH,
Governor OF the State Of Louisiana.
A true copy: --
GEO. Z. BovEE,
0a- Secretary of State.