New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-07-07
CORPORATIONS,
the company, and in what those earnings and ex
penses consist. "AA "a
ARTTCLExL. sfBas4ss VI

penses consist. - -
ARTTCLE XII. ~ a84aslz w
sRcr1oN i. The company shall make to the a.
sured such return premiums in cash IA the nres;
dent and Board of Directors NAV deem q X incident
SIC = Out OF the net profits Of the company an
interest OF ten per cent on the paid in stock shall
first he taken, the balance then remaining sbalI h.
divided among the stockholders as follows: "
Ihree'fourths Of the same to be divided among
Inein pro rata OF the amount of earned premiu ms
paid BY each of them within the year and one.
fourth Of the said balance to be dividedamong the
s.0eHnoiders pro rata Of their paid in capital 1t
hve dollars shall be declared nor shall sny iivi.
dend declared contain any fractional part of the
tional sums shall be carried to the credit of con
tingent accounts. The interest of ten per cent on
paid IN espital shall be payable in cash, but the
placed to the credit of the stock notes until the
latter are paid up The balance, due stock
notes not extinguished by dividends within five
years shall be paid in cash after the expiration of
said time. Y ,f.,.+.r r. I4fsa i. -
SEC; 3. When the notes of the stockholders shall
have been fully paid there shall be issued to each
stockholder a certificate of stock for the amount
OF ms or her subscription. asf. ..fUa
No dividend shall be paid to any toekholder
while there exists in favor of the company any
matured Indebtedness OF any kind against hun,
but the same shall be passed to the credit of
SIC. l. No dividend declared shall bear interest.
and any dividend unclaimed for three years shall
be forfeited to the company, and passed to the
credit of profit and loss account after the pubca-
ton of the same once week for four weeks.
Whenever a dividend is called for after being adj
vertised, the party entitled TO it shall pay cost OF
advertising l-s
ARTICLE XII.
This act of incorporation. may be modified.
altered or amended or the said company dissolved
at a general meeting of the stockholders to be
convened for that purpose after thirty notice
and with the assent of threefourths of the stoc k
represented at such meeting, and any and all such
notifications, alterations amendments OF dissolu-
tons shall be recorded and published according
to law. at
ARTICLE KILL
At the expiration of this charter, or sooner il
ordered by vote of. stockholders representing
two-tirds of the capital stock, the affairs of this
company shall be hquidated its debts paid and
the balances divided among the. stockholders, pro
rata on the amount held by each of paid up stock
under the charge and superint endence of three
commissioners appointed by the Board Of Direc.
tors for that purpose. C.tt
ARTICLE XIV.
The names and respective interests of the sub
scribers to- this act are hereby declared to be as
follows, to wit: ,.l
United States internal revenue stamps amount
ing to twenty-five cents are affixed hereto, duly
cancelled at the execution hereof. '~1 ,
Thus done and passed in my Office. at New Or.
leans aforesaid the day, month and year first
above written, in the presence of Messrs Lawrence
Mccormack and Harris Murphy, competent wit
Desses, residing in this city, who hereunto sign
their names With said parties and me- said notary,
after due reading of the whele.