New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-04-21

uH1fBD DRAsBs o. AABRIoA,
6tate of LouiAiAna,

& presence WIt0o0o90
came and Appeared the persons hslsin.{tsr named
and undersfgned. who severally deciars that they
such others % may become associated With them
by subscription, purchase, transfer succession
corpo.:tion, under the general laws Of this state
have agreed, upon the following stipu1ations, to
govern the same ~ the charter the said corpora
ton:
The domicie Of this corporation 10 hereby estab
ished in the said city Of New Orleans, and it shall
and kSrMn s Tndsr The name 81 the
2. It shall commence business or about the
fifteenth of September, 1858, and shall exist for
settled up by order Of two-thirds Of the stock.
holders.
3. The President or in his absence the Secretary,
shall be the proper officer upon whom to serve cits
tons IN all suits against the association.
ARTICLE H.
The objects and purposes of this association are
declared to be:
on e%sn
chandise ana other property against loss Or dam
}. 10 make marine and river insurance upon yes.
sells, treights, steamboats,, goods. wares. msr.
chandise, specie, bul0ns bills Of exchange, COM
missions profits, bank notes sud other evidence Of
make all and every insurance appertaining to or
connected with marine OF inland transportation
risks.
3. To cause Themselves to be reimbursed against
any risk upon which they have made or shah make
ARTICLE I'LL
fixed at five hundred thousand dollars with the
privilege Of increasing it to one million Of dollars
divided into shares Of one hundred dollars each to
be paid Tor ct the time and in the manner herein.
after provided for in article four Of this charter
= The association may commence business a.
heQn an i0lG6 Inn oafhf an oil
December. u, the first fiscal year to end on the
thirty first Of December, 1870.
Of the association Mt its office, in the city of New
Orleans only, but not while any Indebtedness to
the association exists on the part Of the holder;
Board Of Director.
ARTICLE w.
1. All persons who have subscribed or may here
after subscribe to the capital stock Of this associa-
tion, shall furnish their note for the amount Of
,. The notes furnished, as above provided for,
pa, IN the 81
second year. pro rata to the amount OF earned pre-.
miums that shall have been paid during that time
3 At the maturity Of said notes. If the net profits
ofthe association for the first and second year have
NOT sxtinguished the said notes, the stockholders
l. The non-payment Of the balance due on the
said notes, above provided for shall forfeit the
n,t;o ~ th VIC .sa III toseneI ~Mn ~
therrunto belonc;nv nrov;dea that tho ncard -
Directors may extend said payments for such time
tn,ssitsd NAV ~. hlsE me saocx 80
, the hoard of directors.
Hahs for ~ io..S. If tha orG T.; 70 auo
sums than the amount Of his, her their subscrip-
tod to the capital stock, and his her or their in.
debtedness to the association.
ARTICLE
1. All premiuns shall he dine and naval,le casb at
the end Of each month.
g. Any .osses 4r osianSe que on l0sses sustained
t;,rs IO and ,vh",s th e. e.U NJ s
sms;c,ent furs - covaSr t sn am ~. nave s
nro rata nv the tocSboIders ''"0 'nA'' We ps'o
PS Al ny&;s o s-;I; Us -; :..
.;or tHH ho;, ~ ~ VII. tno nssoci
and hecnms ~ me 81 t sneleo,
vided, however. that by and with the advice and
,,r ~ ~ G So u m; aPPoInteu iol tnat
~ tne Sc t OF OF upon the re-
rs AMI y, " r.;a inas .ne
m :n anS r r%cn Pa,ss ~ MIL osS3me entitled
time by The Board Of directors 'Ae1 ''0"' '""e ~
ARTICLE vi.
within IN. ,,or,h A. 1.nu.rx ,o-, s TO-,
sfe t ss4n US.so W ue !aae sta!emeni
causa the .ane t h rh;.hsJ ~ az anu snal
the city papers for one month, together with
tingushing the portion Of same which is cash and
the portion thereof invested in securities and the
nature thereof This publication shall be male.
under oath of the president and secretarv and
shall be conclusive and binding upOn all persons
interested
q The annual statement to be made in January
1871 and 1872 as above provided for shall be made
up to December 81 preceding inclusive in the fol.
lowing manner, to wit: 1. Showing the amount of
premiums received on FIRE river and marine risks
each, deducting therefrom the amount Of same
not terminated. .. Showing the amount of losses
paid on fire river and marine risks each and rein.
surance, return premiums. g. Showing the inter.
est on the portion Of the capital invested
.pr,c,rvr
ARTICLE VII. :.
I. From and after the beginning of the third
year, the stockholders shall pay no premiums on
the assurances effected by them
2 But in the year 1872, and in each and every
year following, within the months of April July,
October and January, the President shall cause to
be made . statement of the losses and expenses of
the association, to which shall be added two and .
half per cent profits paid to the stockholders ON
their stock paid in full such part there that
shall have been paid, and the amount thus formed
shall be paid pro rata by the parties insuring on
3. The statement TO be made within the months
of April July, October and January, ~ above pro-
vided for, shall be made to the thirty. first Of
and thirty first of December preceding inclusive
and shall be published 90 above provided for in
section one Of Article six for the annual
to be made in January, 1871 and 1872
.n,,,
AhTlCLk VIII
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