New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-05-21

| b,
divided into shares of one hundred dollars each to
be paid for at the time and in the manner herein
after provided for in article four of this charter
& Ime Ass. h3d nay S ouf hT DE-
been subscribed, but each fiscal year shall end on
| December 81 the hrst hscal year to end on the
thlrts-nrst OF pecemDer, i6U.
8. transfers OF STOCKS snail De made on the books
OF tle assoclato. at lts once IN me CITY OF New
OIledns ohly ouI not "hile any Hututeuness 10
Ihe association EXISTS on the part OF the noIder;
PROVIDED SAD transfers nave been approved by The
ARTICLE ".
| ,,.,, ,
!. All persons W no nave suoseIlpeu oI may mere
ater subscribe 10 tie capta STOCK OF inns assocla
ioh, shail FURNISH thelr note lor the amount OF
thelr snares' paSaole Oh the shlfty nfe' OF Decem
Der I8Il
The notes 1urnlshed, as ABOVE PROVIDED Tor,
snail De reduced oy crent thereon OF the mel
second year, pro rata to the amount OF earned pre-
hnS 'n]s Sai nave 'eeh pau curing that time
~ A. ~ naturit - of soid no+ss IL tho not ,rof+S
of The ssciat;on for the tirst and second vear
80 ~ ,,;ahad 81 sa;5 ,otas r. s,ool bl1dars
Hon NO L the hai.uce g. +horoon WIG
M S"' 90, ,.a,,,,ant &c ~ baioroa d,a nm +bo
IA ine pt VI sn5 in u ts ". ne
sou aioe - &c -. az" ~ Pi.i ~ ,.X III, ' ~
,'Io,in -, 81 ~ - 80, 81 49,.
tbramuto %alonin0 nroridad ,bat tbo Ri 10
niractnrs NOV ayfaTd spd noymsnfS for sncb IN
~ may @ u PtF d I iot eeai ili
as tnty uee proper 20. a'sS ehe suoek 50
3iitoeu , may NC Win Inc oohsen' Vi
'' S NJ +o ~ shon :, or oo+ bo ,o5a
49,, V e ~ i % tI ~ az, e e.; o , ue
@ + iDa t1 tb y, ne ia M ~ Ia
go, "a d., aan;tnI staoL Ia r. ~ or 80; n
5 IL. 20 IN ' 90 PC = i.9 '' HoA VI 'iieA In
uoo'euneee W 'io "'so'i"''oi-
ARTICLE V
the end of each month NC "e anu pay "0'e ''''H az
= any losses or oalanee que on losses sustained
~ ce I "a, a. oio i no
siv ,ti anu ell " - Wy ~ sni an n.y. a
sulnrDtnT ltas 70 I1rTd Tue same sha4i nc pau
Al noyy+i M aisb;rU to ;s,,ro NTH .b ossoio
IA Eli ptt $500 ~ ~ ;.T tt t ae ts
III I .t IA ~ ~ 9 II $50; =;
~JeS boyvevsr that NV and viii r. advinas ppnd
onnss,t Of snsoia1 co., ~ al 60 49,
,,.,,or h, az Rna,J 81 n;rao+ -, w. -, II -
~ ION Of to or @ Of tb y, tt I b ohs
49, 30 he toGan fro,n otbnrs tbar' +Ia
d, may &c ,i I'm ii tr
Io sub rebata as NAV h. stabI;sbed trnn, tnn 20
time bv the Roard nj brectors A '--No ~
''---' ~ '-> D "
ARTICLE VI
,o-o
l. within the month OF January, 1871 and 1877,
the president shall cause to be made statement
OF the net prohts OF the ASSOCIATION, and shall
the city papers for one month, together with a
tinGuishine the portion of same which is cash and
tba nartinn Thereof Invested in secnrites and the
| Nature thereof This pnbIication shall he made
| nndar oath of tho nresiSant and sacra,arv and
| shall he conclusive and hinding mon ali narsons
| interested
. a. annual s+o+e,,en+ 70 no mazda in rorrorv
1871 and i872 az above nrovided for shall he Id
nm tie December 81 nreredng inclnsiye in the fol
| lowing manner to Wit: / Showing the amount of
| nran ySd re IN m ris
| Zach deductinp therefrom the amonnt of same
| not terminated q Showing the amount of losses
paid on fire river and marine risks each and rein
| surapce return premiums 8 Showing the inter.
| est on the portion of the capital invested
- = -
ARTICLE VII.
| 1,- 49,, 49,. -. ..; e a., a.,
4p anu thid I LII " @ @ VI ny I'M u
ga; ga u tfauta5 i S pay ho VI
| 'n n -. ~ - o i.o55 -. ~ = -, -
L. puI III tIfe StaI io,1 anu IN eacn anu Every
year d ~,nln tne s 41ans VI APaIi, Suly
pctoosi anu .He ., iiesue' sId cause 70
pe ihade stfteuent % .lS losses anu expenses oI
the asseclatIeh 10 "hcn shalI pe added TWO ana q
nan per cent ProHts pau 10 the siockhontis Oh
theiT STOCK l1u IN uu or on such part thereot that
snail nave oeeh palu, anu the amount thus formed
| shall be PAID pro rata oy the parties lnsurlns on
'i!e e %, F.eniI'.ins vi the SUMS HsuIeu'
5. Inc statement 10 De maze Withn the months
OF April, July 0cioper ana January, as above pro
| ylded Tor, shall be made TO the thirty rst OF
March, thirtieth OF June, th1rtieth of September
anu tihTiy hlst OF pecenoer preceding, ncluslVe'
ana shaiI De puDiisheu as ABOVE PROVIDED 1or IN
secilon one Oh Artlclt SIN lor the annua statements
| 10 DC hdue III January, Ao'l anu lo'|'
ARTICLE VIII
!. All the powers of the association shall be
ercsed by a Board of Directors to consist of twelve
persons five of whom shall form quorum for
| the transaction of business.
2 The first election of directors of the associa
ton stall be ED on the fourth Monday of Decem-
Der 1870 and thereafter on the said dav in each
| year at such place in the city of New Orleans as
| the Board of Directors shall designate of which
the president shall cause at Least fifteen days pre-
| newspapers printed in said city. The Board of Di
rectors shall appoint three of the ockhoders of
the association inspectors preside at such cleo
tons; and if any of the said inspectors decline or
| fail to attend the president may appoint others
| to ill such vacancies.
3. The Board of Directors thus elected are TO
| take their seats on the first Monday in January
tbera from mill others eIactad in their stead
| 4. Those persons receiving plurality of votes
shall be considered duly elected. In the event of
no election taking place on the day aforesaid the
president shall cause another election to take
place within ten days thereafter, and give notice
| of the same by advertisement in one or more of
| the public newspapers published in this city.
5. The Board OF directors shall annually at their
first meeting, elect president who shall, on his
election, be eXothclo member OF the Board OF d.
rectors and who shall hold his office until his sue
cessor is elected and qualified. The President
shall preside at an meetings OF the Board OF Di,
the ASSOCIATION and shall Conduct the business of
the Board of Directors' "iN'i '"o 'i''on VI
e In the ahsence of I'll. ,raSidor+ +ba poord os
Directors shall elect one Of their members to
not in tia niaca and steod of s,id nosid,t 49,
his absence The Rosrd of nirac+PPrs sboii aIsn %
noint ali the other offcers and cr of tb $50
ciation. "- '-' mo "a INC '''0
7. The Board of Directors shall fix the compen