The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1868-04-26

ARTICLE FOURTH
All the corporate of the Company shall
by Board hleen Directors i've whom shall
The following named Stakeholder are hereby constituted
the nrtt Boar OF ID ecta and invested with all the rights
and powers herein specified towt:
Sohn RRs a1ao ~ = s Pss EdTsre sI Rslsnsy
Q, H. socomb. A ThOmprOn, Alexander Marks,
George A FOsdck, Marshall j. Smith, Edward Barnett
The Board shall At their aEst meeting IL every year elect
who sha ex o6eio be a member Of said Board and WAC
shall preside at meetings Of The said Board and Of the
the business Of the Company generally under the supervision
e that The term Of service Of the whole number Of
said Board o. Director shall not expire at tbs end % each
three classes hayg one eous number Of Directors in each
class and shall be designated and known the
service shall respectively expire as follows That Of the first
h the 10 three the s xon
day Of April in each and every hereafter there shall te
eaps between sach hours a. nav be named or bv
the Board Of Directors election for Directors in the place
which said election evous notice. Of not less than
Pubsh.a in this city, and shall be the duty Of the Board Of
Directors, meeting OF said Board prior such
sS Corp IspD to act as inspectors Of sacE election tpsu
Iernterd aud conduct the and certify ts said Board
decline fail to attend the President shall the
to any Director ine
bic to reelection to said office Of Director.
duly Elected and take their The Monday
election. SAM IN
tskg the day Hxed the President shall
notcs thereof By in Two Of the papers pub
hshed in the cit Of New Orleans repeating he If
Zach and every stakeholder shall be entitled either per-
she or they may hold provided that
tons sha be entitled TO greater number OF vot than MY
ninety days prior to such election.
ARTICLE FIFTH.
person fbsts capable of being director of said Com
pany who does not a. ne e o. MS election ana MS
mercia firm of which be may be shares of he
either on his life or that any other person for
his beDth for the cf at least i've thousand dollars
ARTICLE SIXTH.
The Board Of Directors shall fix the amount Of tbs eompen
sat0n OF all officers, clerks snd employees Of The Company;
they shall invest the profits and gains Of the Company s
adopt bylaws rules and regulations Tor the proper govern
@ent Of the Company and tie tran factions Of Is Affairs and
shall rot eoD with this State or the trus in
do and perform all acts and things no. herein provided for
which may be necessary to carry into full effect the objects
power to h all vacancies which may in their number
or in the Presidency.
ARTICLE SEVENTH.
The Board Of Directors shall have power to invest from
snd mortgages uni numbered, improved aud unmpoved
deemed worth double the amount oalsd thereon
also invest the profits q the Company any bonds
or Of this siSte or city or Of corporations Of this
state or make loans or pledge 81 any Of the Aforesaid seeu
mortgages obtained by Of security Of stock pledged
debts previously contracted purchased public upon
Judgments orders Of seizure obtained By ssd Company
absns Oned to Company concerning opera
authorize the said Company engage
mercantile agricultural business in commission.
sS fn provided s S the conpny S has the
right 70 purchase property or building for the purpose Of
tablishing their Office therein
ARTICLE EIGHTH
No stock shall be transferred unless such transfer be made
on the books Of the Company at Their place Of business
any Indebtedness to tho Company exists on the part e such
stakeholder stakeholder wishing TO transfer stock may
party purchasing provided always that the obligations pro-
posed 70 be substituted h be- in every satisfactory
TO the Board Of Directors And the ssid Board of Directors
shall time have The right to require additional bond
cur } on the deferred payment insufficient
The stockholders tha not be responsible for losses
s stock held and owned by him them respectively
ARTICLE NINTH.
In the month of April Of each year the President and d.
ecors Of the Company shall make or cause TO be made By
and losses Of the Company statement all cash
paid the Company for OF premiums tor the
snts shall Be vsrdsd By adavi sd win the papers
interested Ana Il Shall fro@ such statements
the ohts Of Company DO exceed its losses and
Director. s6. make s no dvsRd to the
hut ueb psrcentsgs Of prSsts shall be kep by the Com
psny as reserve fpnd TO meet future losses or liabilities
shall that the profits
Company It's losses and expenses BY than
cent Of its capital then the Pes dent and Directors shall
reserve apart portion thereof less per
cent nor than onehaf Of such excess they
proper be kept by the Company reserved fund
snd the residue Of such shall be rseAby spgoOned
and divided between the several stockholders and nseres
according Of held by each Stakeholder
the Of premiums pid BY each insurer and shall
a. return premiums ard the dividends awarded TO the stock
hall De credit their stock respectively
-''''' ''''' '- ARTICLE TENTH.
Any policy Of Insurance issued by this Company the
benefit advantage of he wife dow children father
mother individual shall not be held made liable
r any debts contracts or o. ihe person whose
Of the decese Of the person whose life be
insured shall be paid to the person persons bench a IN,
discharged from all pre- existing debts contracts and
whstsOS the person deceased those
Of the Company.
ARTICLE ELEVENTH.
At the dissolution Of Charter Of this Com
pany u ordered by vote OF The Stockholders
hereinafter provided for the affairs OF said Company shall be
aucated paid the charge and snperuen
o. Directors and who shall remain in once until the final
Liquidation Of the Affairs Of the Company
ARTICLE rwELFrH.
amended the said Com any dissolved at general meet
Stockholders convened for that purpose aer
thuy eys notice il the English sna FFsnea sSgassss =,
ourhs Of the stock represented At sueh meeng aad
any snd All sneh notifications alterations amendments OF
dissolution Aha be recorded and published according 70 Law
ARTICLE THIRTEENTH.
The uses and respective interests the parties to this
are hereby declared TO be az follows, tOwit
,oh, p.us.-,6 So. Of sAAIe:; NO ?, sns'ss
lew stone s Ea1sd ssrasi
7. pebsndIo A. SIash- ..-.--''.---55