New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-07-25
Z NEW ORLEANS TUESDAY o. 49, ~ yHENL
CORPORATIONS.
the company and in what those earnings and ex-
penses consist .-.-....

PenSes ooD9 ARTICLE XII
SECTION l. The company shall make to the as
sured such return premiums in cash as the presl-
dent and Board of Directors may deem expedIent.
Spc Ont of tbe net profits of the company, an
interest of ten per cent the paid in stock shan
first be TAKEN the balance then remanng SNAIL De
divided among the stockholders, as follo~s:
Three-fourths of the same to be dlVldeu among
them pro rata of the amount of earned premiums
maid by each of them within the year, ana one
fourth of the said balance to be divided among the
stockholders pro rata of their paid IN capl az: IL
is however provided that no dividend OF less tHsH
five dollars shall be declared nor snail any uiVl-
dend declared contain any fractional part OF the
said unit of five dollars, and that all such frac-
tOnal sums shall be carried to the credit OF con
tingent accounts. The interest of ten per cent on
paid in capital shall be payable in cash. put the
amount of the two dividends declared snail DC
placed TO the credit of the stock notes until the
latter are paid up The balance due ON stock
notes not extinguished by dividends within nve
years shall be paid in cash after the expiration OF
SEC. 3. When the notes of the stockholders shall
have been fully paid there shall be issued to each
stakeholder certlhcate OF sIock lor Une aAloAhU
OF his or her subscription.
No dividend shall be paid to any stakeholder
while there exists in favor OF tne company pan AM any
but the same shall be passed TO the circuit Vi
such Indebtedness. ,...
and any dividend unclaimed for three years shall
be forfeited to the company, and passed 70 the
credit of profit and loss account after the puolca-
ton of the same once week for four weeks
Whenever a dividend is called for after being adc
vertised the party entitled to it shall pay cost OF
advertising
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 days notice
and with the assent of three-fourths of the stock
represented at such meeting, and any and all such
notifications, alterations, amendments or dlssolu-
lions shall be recorded and published according
to Law. -
ARTICLE XIII
At the expiration of this charter, sooner if
ordered by a vote of stockholders representing
twothirds of the capital stock the affairs of this
company shall be liquidated, its debts paid and
the balance divided among the stockholders, pro
rata on the amount held by each of paid up stock
under the charge and superintendent of three
commissioners appointed by the Board OF DiIec-
tors for that purpose.
ARTICLE XIV.
The names and respective interests of the sub
scrbers to this act are hereby declared to be as
follows TO wit:
United States internal revenue stamps, amount
ing to twenty five cents, affixed hereto, duly
Cancelled at the execution hereof.
Thus done and passed in my office. at New Or
leans aforesaid, the day, month and year first
above written, in TIE presence OF Messrs Lawrence
Mccormack and Harris Murphy, competent WIT
nesses residing in this city, who hereunto sign
their names with said parties and me, said notary
after due reading of the whole.