New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-06-08

C8ARTER. .,..............C CHARTER.
UNITED STATES OF AMtRICA-sTATE OF
IOU!SIANA-PARISH OF ORLEANS.

Ee 10 known that on this .weftc seventh das Of
the month Of May, IL the year o: or Lord eight.
sen hundred and seveDty-thIet. ana the ninety
seventh Of the independence OF :he United States
! Of America, before me, Ernes: Eude. Iotary pub
I lie. daily commissioned and swoin, i: and Cor che
parish OF orleans and the city 9; New Orleans,
ence OF the witnesses hereinafter named and IN.
GeYsigned personally Came and appeared the par
ties wItse names are hereunto sujse;leed. who
declared that. awaiting themselves q She rights,
power. and privileges conferred by the laws the
state U: Louisiana 70. the Orga,,za of corpora
tons in this State. they have formed ard Insti
:uted corporation fey TIE purposes aud objects
and under tie stiynla'jons and regulations follow.
!nS. 10 Wa:
Iii. company shal: be designated ari formed
Ender the style and name OF the TRADESMEN'S
FIRE INSURANCE COMPANY OF NEW ORLEANS
and is domicie shal! Re. ard is hereby fixed. il
Tie city OF New Orleans. Iar.s. ~ Orleans
and state Of Louisiana. ard 'he President
thereof oc, in !is absence. the secretary. shall
Dc 'he lrorsr etice officer. upon n% . whom MAJ be
cess against the said corporation Il shall com
nence business as soon as the requisites OF the
law shal! have been compiled with, and shall exist
and continue fOT the fl. term Of twenty five years
from the date OF organization :'!r!'g which time
and be sued. hold, receive. purchase. sell. and
otherwise convey. uIde. It's corporate Dame prop.
erty, both real and PERSONAL shall establish such
Jsies. bylaws and regulations for the management
OF the company may lie necessary: provided
such bylaws sha. not be contrary 10 the scipula
tons OF this charter. OF tie AVS OF the state;
privileges as are given by law 20 cOrpcI ations.
Sa company shall use corporate zeal. the device
upon which shall be a pelican. with TIE Game OF
ARTICLE y.
The purposes for which .he said Tradesmen's
Fire Insurance Company OF New Orleans is IS tab.
!shed and the nature OF .he business 70 be car.
ried on by il. are hereby declared 20 be-
J. To effect insurance on welng houses. stores.
sugar hOuses, cotton gins. presses and al. other
In nf
isiana ard other States Of the Union; also. upon
household furniture, merchandise, and all other
property against loss OF damage by tire or light
ming.
?. To cause itself 20 be reinsu.ed, in part or in
toto, with any other companies against any risks
upon which it ehaii have made Insurance.
). TO establish agencies i'll the State OF Louisiana
and ether States OF the Union.
ARTICLE III.
The capital stock Of the company Is hereby
liked at hundred thousand dollars said
capital 20 be divided INTO shares of ten dollar.
each. TO be paid in cash at Che time of sub.
scrlption. The capital stock may: however, be
increased by resolution OF the Board Of Directors
whenever deemed proper Transfers OF stock shall
be INSIDE on the books OF :Ee company. q. =. -ce
n New orleans. only.
ARTICLE ".
Every six months viz: on Nle fifteenth dav o.
January aud July commencing on the fifteenth
books of the company tnl! and true s:ate,nent,
showing up TO date: ]. The armour: o! capital d
assets OF the company. Z. TIE amount OK pre-.
miums received and losses paid. 8. The balance
of profit Snd loss. The whol. 70 Nc Awo,r 70 and
subscribed by the Presicsn. and Sc. re.ary and to
be published ten times duEiDs said MONTH in two
newspapers in the city of New Orleans. The net
profits arising from the buenes., rs asce!'aned by
The above publications. shall be aypoItlSned as
follows to wit:
J. One-third of the net profit. slai, be Sc. rs dc
as reserve fund for the purpose OF cIeasing the
assets of the company. and ehall he invested IN
such securities. bonds mort cages Is the Lnanc.
comn ittse may deem die.
=. The remaining two thirds 20 BE divided among
the stockholders il due proportion 10 I'll. amount
OF shares held BY each the sad dividends 20 be
company in New Orleans the first days OF Feb.
Suary and August of each year.
1t is. however. expressly g. ipu;ated that for the
first five years. viz: until the fifteenth Of July,
1873, all interest accrung from the capital AID re-
serve fund sha. be placed intact to the eserve
anon. stockholders or used for expenses but that
after said fifteenth Of July, 1879, and not before.
the said interest shall then be considered part
OF tie divisable protits, and shal be- apportiOned
IN the manner hereinbefoIe ST puiated namely:
One-thiid 10 the reserve fuId and tie balance 10
the s.oG kholce1s.
AgT1CLEv.
Ali the corporate powers OF the company hal
be vested in, and itA affairs administered by. a
Board 81 Directors, WHO sLaii be selected from
among stockholders holding 70, less than ten
shares IN theiI own name they shall Re elected at
purpose. at the Office of the con pany. 'he first
Saturday OF December OF every alternate year.
commencing December, 1875. upon advertise.
ment for fifteen days i'll two newspapers of the city
Of New Orleans. At said meeting ard at all eec.
;ions, each stockholdey holding ten shares or less
in his own shall! be entitled. either in person
or by proxy, to one vote and every additional ten
shares shall entitle the holder thereof 20 vote.
seats on the Monday next following the election
in December 1878, and shall then elect the presi.
dent and secretary. who shall hold their seats,
together with the mem ber5 of the board. for two
years. and until OF hers are Guai,fed to act in
.ht1r stead. The officers cs the company ehall
consist of q President and secretary, who shall be
elected by the Board Of Directors. The general
agent. superintendent, and such other agents,
clerks, and employees as may be necessary shall be
appointed by the President. with the consent OF
the Board OF 0irectOrs and shall be removable -
their pleasure. The Board OF Directors shall fx
company. The first board shall consist of eight
directors. who shall have ;he right. whenever
they think proper. OF increasing tneir number &c
any number not 10 exceed twsnty four. TIE first
President secretary and board are hereby declared
70 be as follows. to wit: iawrence Rainss. Pres.
dent: Z. Harry Aneamar secretary ana TOBIAS
Marcus. A. J. Burgeon John f. :iaveuE. E. H. an
samar. II. a. G.unewald. A. &. Williams, and I.
Eude. directors. who shall held their seat Unit!
the first election in December 49,.
The presence ct Ave directors slail constitute
aIuornm for tie transaction o. business. The
President may grant leave 81 absence to the d.
rectOrs, officers and employees of the aoInnany
Whenever, in his opinion. Z can be done without
detsiment to the interests of .hc com any. Il!
vacancies in tie hoard shall re tiled ~ the board.
ARTICLE ".
The Pre- s.ent or, in his a..sence, OF tila di.
;ectols elected fox that pun 1ose, -hal p,eside at
all tings OF the boa I'd and pe,IorI- a the d.
ties CT an executive officer. and shalt Condu al!
the business Of the company generally. The sec
Rotary shall perform the duties Usually appertain.
ing to such an office. The superintendent shall
have charge of the agency department and the
operations OF the agents abroad, under the ilnme'
date supervision and control Of the President.
The general agent shall have charge OF the agents
at home. The duties of al! other employees to be
regulated by the Presiden. and Secretary. All
policies checks and certificates of stock to be
signed by the President and secretary.
ARTICLE VII.
There shall be a stated meetin # The board on
the second Monday in January, APRIL july and
whenever the President may think proper or may
be requested in writing by majority ot the board
ARTICLE VIII.
This charter may be altered, amended or an
nulled, and this company dissolved at any time
at general meeting OF the stockholders con-
vened for that purpose by the board upon Detl
ton to said board, signed by the holders Of at least
two thirds of the entire stock of the compaLy,
after thirty days notice published in two news
papers in the city of New orleans; provided that q
majority of two-thrds of the entire stock of the
company be represented at said meeting; and
provided, further, that majority Of swo.thrds OF
the stock so represented be SbtaiVe1 fog the meas
ure proposed and voted on.
ARTICLE X.
At the expiration of this charter or sooner. il so
ordered as provided for in the oregolng article,
the affairs of the company shall be liquidated by
three commissioners. to tie elected by the board
tor such purpose. The board NAV cede TO such
commissioners all powers necessary 20 the lquida
ton of the affairs of the company, may TX ther
term of office, limit The period OF liquidation. TX
their compensation, define their duties and the
manner in which they may Oe removed .. tIeg
term Of office renewed.
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