The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1868-05-02

hoder extended TO sn amount not ts exceed i've million
ARTICLE FOURTH.
All the corporate Company shall be exercised
Board OF fifteen Directors Eve whom shall
The following named Stakeholder are hereby constituted
powers herein specified tO-wit WIN
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The Board shall at their nrst meeting every year. elect
from among the President for said Company
shall preside at meetings The said Board and of The
Company and shan .gn all the policies and shall
| and control Of the said board
said Board Of Direcors shall nor tn ne Of
and year the said BOaId shall By lot be divided into
rsspeetsey desnsted ana known as tSs
nrst second class and third class the term Of VIII
class in year hat Of econd years and
Gay Of April every year hereafter there shall te
holden At the office Of the Company the city Of New Or
the Board Of Directors, for Directors in The place
which said election notice. Of Ss sh s.s ,S SsD ssD
shall be given BY public Advertisements in newspapers
Directors meeting Of said Board prior TO any such
elee'os TO appoint three competent
perntepd and conduct the same and to certify said Board
decline attend the Predent shall have the bower 70
appoint Others Gil the vacancies Nohing act con
BILE to reelection 70 said Office Of Director
and hpp ss T0s ss east h
or May after the election, and all hold tbs uAt
taking the day fixed Pre- sdeot shall cause an
election to be held within ten days thereafter shall give
shed in the cit Of New Orleans repeating The sane il ne
cessary. until such election Is ehes ed.
zach every stakeholder shall entitled either in per-
son or by proxy 10 vote for each and share which
tions shall be entitled greater Of votes than City
nor to vote on any shsrs transferred TO him them within
ARTICLE FIFTH
person sha be capable Of being director Of said Com
psny who does not ~ he time of his election during his
merca firm Of which be may be ps tner ten SHARES OF %
stock Of said Company, be the holder of policy Of
hs for the Of at least I've thousand dollars
ARTICLE SIXTH.
The Board Of Directors FIX the amount of tn. compen
sation OF all oncers clerks and employees
they shall invest the profits and gains Company s
sdoot sd a they SHAH make and
ment of the Company the Iscons Of It's AFFAIRS and
so 81 S a. The
sns .hS at @snHs q s sa s shall svs full .
which may be nscess 70 carry into full effect the objects
power FIJI all vacancies which may occur in their num5sY
or in the Presidency.
ARTICLE SEVENTH.
The Board of Directors have power to invest from
snd mortgages on uni cumberd Improved and
real estate situated in this city whc every case shall be
They also invest the profits Of the COMPANY any bonds
~ b se,eo oy or g1Ssr TIE laws q the United States
state or make loans or pledge Of Of toe aforesaid
mortgages obtained BY way security or Of stock pledged
o ,eeoiy or Of pIoDerts conveyed % them in ,9 Of
judgments or orders Of seizure obtained By said Company
said Company for or concernin the ons
sns Of lis business but nothing herein shall be
mercantile agricultural business nor In commssion
s ssSss SSSns ssshanse or banking Of
night TO purchase property or building for the purpose
tsblishing their Office tnerein.
ARTICLE EIGHTH.
No stock shall transferred unless such transfer be made
the city Orleans and no transfer shall De made While
any 20 the Company eSss on the Of such
be permitted to do 50 By substituting the obligations Of re
posed be substituted sh- every respect satsactv
TO the Board Of Directors And the said Board OF Directors
security any stakeholder whenever they deem the Sc
cur. on the deferred payment insufficient
The stockholders sha not responsible losses or
capital stock held and owned by him them respectively
ARTICLE NINTH
In the month ofApr Of each year the President and d.
proper oc.r Company an estimate Of the poss
and losses Of the Company, and also statement of all
preceding twelve months and by whom paid which
Of the Company for alton and OF an battles
ipieIesisd And II shall appear from h ststemeuts that
Rssss sy m9Ts than ten per cent Of is al stock
sn1 snail make no oividend TO the Stock
holders and shall not award return premiums the
but such percentage Of shall be BY the Com
Buff shall appear statements that the profits Of
the Company exceed its losses and expenses more than ten
cent Of Its capital tEen the President and Directors shall
reserve and set apart portion thereof not less than
deem proper be kept by the Company reserved fund
snd the residue Of such shall raeaby
according the Of S S.S sS ss aSs
ard he amount Of premiums pd BY each insurer hall
return premiums and the dividends awarded 10 The So
hocs ha oe entered as credit their stock respectively
ARTICLE TENTH
Any policy Of Insurance issued by this COMPANY for the
advantage off he widow Children fsther
mother or Of any individual shall not be held made liable
life is be insured, and all such the
event Of the decesse Of the person whose life is
erested therein be held by him her them fres and
DISCHARGED Of sId from all preexog debts and
OF the Company
ARTICLE ELEVENTH.
At the time Of the dissolution Of the Charter OF this Com
pany sooner ordered by vote Of the Stockholders
hquidsted its debs paid under the charge snpernen
esnee Of three 70 ee appointed BY the Board
Liquidation Of the Affairs Of the Company.
ARTICLE TWELFTH.
This set q Ineorpoation may be modified altered or
amended or the said Comusny dissolved general meet
ing Of the Stockholders for purpose aer
herein provided for and with the q
Of the stock represented at such meeting;
and al such notifications alterations aendments or
dissolution shall be recorded and published according law
ARTICLE THIRTEENTH.
The and respective interests Of the parties 70 this act
are hereby declared 70 be - follows, to-wit:
No. Of Shares. No Of Shares.
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=. De bcndlc. A D. Grief ..........25