New Orleans Republican., 1873-07-20
CORPORATIONS.

| Commence business SO soon as the requirements Of
| the law complied with, and shall exist ioi
twenty-five years from the date OF this charter
It shall and be sned in its corporate name anG
all citations and other legal process shan oe served
or the president, and in his absence On nhe seeIe s
after be adopted by the Board OF trustees lor one
| government and regulation Of the company sta-
not be IN conflict with nor contrary 10 ms chaf
ter of the acts Of the Leg gsa.1Ie OF 'Hls S-ate
| relative 70 corporations.
ARTICLE H.
| This company shall have a corporate sea-; The
| device upoi tie same shaN he a tre engine, with
the motto wires acquirit eGrNo AE0 sAe Ai.iLe o.
| the company al the margin
ARTICLE III.
The objects and purposes of this coTPota'loH are
hereby declared to be tc make insurance Apoi
dwelling houses stores aud other bL!ldlESs, mouse
hold furniture, merchandise AND Otbei properly
against loss or damage by tire itEd lightning; 10
all risks upon which they have made or shall
make insurance: to establish agencies L! :As STATE
AID u :Ee OtleI States OF the CuIon.
ARTICLEIv.
| The CAPITAL stock of this company sfsl' be Two
hundred and nifty Thousand dollars with the PRIV,
ilege o! increasing said amount 70 I'VE huGdTeG
thousand dollars divided ITO ten thousand share
of twenty five dollars each. All per sons sanscr D.
ing to the capital stock OF tins company snail pay
at the time OF subscription fifty per cent OF TIE
! amount OF each share, passlrg 10 tie 'oirp.E y
their note fOl The balance remaining UNPAID sad
notes 10 be made PAYABLE Oh the fIst day OF -!F
1875 b,lt shall be subject 10 the cas provided Tor
III aIt,c.t SIX OF tLlS nv.
dividends of the company be srch that; after belrs
apportioncd pro rata among the stockholders, tie
dividends thus declared should be sufficient TO TX
tinguis The face value OF said notes thus gwen by
the stockholders before the end OF the sec
oId fiscal year viz-the first day Of jay. !6. then
said notes are to be cancelled; and every year
thereafter the dividends of the company TO be
paid in cash I'D til The capita stock OF the company
is full paid up and interest dividend OF ten per cent
cash on the amount paid i'll shall be allowed
TO stockholders at the end OF each hscai
year. In addition TO the capital stoek k
OF the company, d cont'nsent !und snali 90 o's
profits loans and investments, aud OF al!
amounts received from her sources than pre-
mums, and from this fund dividends OF interest
shall be made to stockholders.
Transfers of stock shall be made on 'he books OF
leans only OF demand Oh the lesa Lo-Ge1 shtItof
and the surrender OF certlncates.
ARTICLE V.
Ali the corporate powers appertaniLs 20 .his
company are hereby vested ii and shall be exeI-
cised the president and secretary and a Board
Of Trustees not exceeding eleven PERSONS inc!ud-
ing the president who shall be selected from stock
holders holding not less than twenty tive shares OF
the stock of this company in their name, four
of whom shall form aquOrLm tor the traG sactOn OF
business. The officers OF the company shall CONSIST
of a president, secretary and superintendent OF
agencies and such other officers and employees as
the president may deem necessary.
An election for officers and trustees OF this com
pany will be held every two years commencing On
the first day OF July. 1879. and every alternate
year thereafter.
members Of the Board OF Directors, Dy the mem
bers thereof, Immediately after their election.
The following named persons are hereby constr
tuted president. secretary and trustees OF tins
company ard shall hold their respective positions
until the st day of July 1873, VIZ David Leubre,
president; Frederick A. johnson, secretary: WI.
liam H. Decker. Z. 5. Drew. A. NJ Multer aud DAVID
Leubrie, trustees.
The president shall preside at all meetings of
the board and at the meetings OF the sfoCkhold-
<rs of the company. The president shall have
the sOa all officers IOt elected DIV
the board prescr bed in this article and also OF
all employees and agents. He may, whenever he
deems il not injurious to the interests OF the com
pany, grant leave of absence to the trustees and
to the officers and employees Of The company.
The president and secretary shall sign all poll-
cies, checks, receipts and certificates OF stock
In the absence OF the president the chairman OF
the finance committee shall act as president pro
tempOre, and shall sign all policies and checks.
The Superintendent of agencies shall have
charge of the age cy department Of this company;
under the immediate supervision and eontro! OF
the president.
The trustees are hereby empowered. Whenever
the necessities OF the company should require it.
to make calls upon the stockholders foI such
paid portion of the capital stock at any one tine.
after giving thirty days notice 20 that effect III
two of the newspapers of the city OF New Orleans
No stockhoder shall in any event be made liable
for the losses of the company III any larger sum
to the capital stock, his, her their indebted
to the company. IransfeTees OF STOCK not
fully paid up shall assume all Indebtedness there
on, and the same shall be approved py tie Io2rd
ARTICLE VII
Every five shares of the stock Of this company,
held by a stockhOlder thereof, shall en-itle the
holder thereof to one vote, and the holder OF any
fractional nHmber of shares less than tive shares,
shall be entitled to one vote.
ARTICLE VIII
There shall be made on the second Wednesday
Of August commencing with the year 1874, an an
showing up to the first day OF August of said
year, the total amount of premiums received from
all sources the amount of losses paid the general
expenses of the company up to date, and the
balance OF profit and loss, the whole TO be sworE
to and subscribed by the president and secretary,
and published ten times during said month OF
August in Two newspapers OF the city OF New Or
leans.
1t is hereby provided that ten per cent Of the
net profits of this company, derived from the
local business of the city of New Orleans shall be
and is hereby donated to the Fremen's Charitable
Association Of the city Of New Orleans, and that
the amount above designated shall be paid anna
ally to the authorized representative OF SAID asso-
citation.
This company may organize local boards IN other
States 10 whom shall be reserved fifty per cent OF
the funds derived from the net premiums received
10 the places where they may transact business,
provided that at least one thousand shares shall
have been subscribed in the State or at least i've
hundred shares in the city or town. IN which any
Sucn D0arQ may De c6t2DIsueu rItN per Ct-lt VI
the cash funds thus entrusted to the care Of the
local board may be invested as this charter pro.
vides. The whole shall be under the control and
management OF the local board of said city or
State. The losses that may occur by fire, where
local boards established, shall be paid from
the funds in the possession of such local boards.
and reserved to their control by the provisions Of
this article Said local boards shall make a
monthly report TO the home office, in the city of
New Orleans, stating therein the amount OF pre-
miums handed to them by the general, special or
local agents, the amount invested, and how Sc
cured, the interest derived therefrom, and The
cash funds remaining in their possession, and
where deposited. Said statement to be duly signed
and authenticated by the president and secretary
OF said board All local boards, the president and
secretary thereof included, shall perform the du,
ties herein prescribed and assigned sratultously.
ARTICLE NJ.
There .ia!! be a quarterly meeting OF the Beard
of Trustees to be held on the first Wednes day of
August, November. February and MAJ OF each year,
and the president may convene the board when
ever he NAV think proper to do SO, or whenever re-
9uested TO do SO in writing by i've members thereof
ARTICLE XII.
It shall be lawful the Board of Trustees to in
vest the capital stock and such other moneys as
NAV come under their control in bonds and mort
cages on unincumbered and improved real estate
in the city Of New Orleans to an amount not ex.
ceeding $4,000, and in every case the property
shall be worth twice the amount loaned thereon;
they may also invest the capital stock and other
cash funds in the stocks created by or under the
laws of the United States, OF this State, or of
other States and may loan the same upon receiv-
ing such stocks as security in sums not exceeding
three -fourths the par value OF the same. They
shall make such other disposition of the moneys Of
the company as they may deem conducive to the
interests Of the company.
ARTICLE XIII
The stockholders of the company. At general
meetin" to be convened for that purpose, after
thirty days notice in two of the newspapers pub
lished in this city, shall have power 10 make auy
changes, additions OF notifications in this aci OF
incorporation or to dissolve tine company; pro
vided three-fouyths of the stockholders of the
company present at, or represented Ey proxy, a,
said meeting shall vote in favor OF such proposed
measures and any and all such changes additions,
modification or dissolution shall be recorded and
published as required by law. IN the event that
the same should become necessary the liquidation