New Orleans Republican., 1873-06-04
CORPORATIONS.
xuARrER. ER............ CHARTER.
HNITEp STATES OF AMERICA-sTATE OF
LOUISIANA-PARISH OF ORLEANS.

The month of May, in the year OF our Lofo elght-
seventh of the independence Of the United states
of America before me, Ernest Eude, notaIy pub
lie, duly commissioned and sworn N anu 6Us 1Ul ,ne
State aforesaid, residing in said city, ana IN pres
ence of the witnesses hereinafter named ana un-
ties whose names are hereuntO 1scIlbed, who
declared that, availing themselves 0f the rshts,
powers and privileges conferred by the Ia avs OF tne
tiOns in this State, they have formed AID lnstf.
tuted corporation for the purposes and ohlects
and under the stipulatons and regulations loHe"-
ing, to wit:
This company shall be designated and formed
under the style and name of the TRADESMENS NJ
FIRE INSURANCE CGMPANY OF NEW @ ORLEANS, LEA >,
and and Sta State y Of Louisiana and the PIesidsnt
be the proper officer upon whom may be
served citations, notices and other legal pro-
cess against the said coronation ~ sas &c com pm
law shall have been complied with and shall exist
and continue for the full term Of twentyEv years
from the date of organization, during winch time
it shall have and enjoy successiOn; contract, sue
and be sued, hold, receive, purchase SELL and
erty. both real and personals shall establish such
rules, bylaws and regulations for the management
of the as DC to e
tions Of this charter, or the laws OF the state,
and shall possess in general all such powers and
privileges as are given Dy law W
SAID company shall use a corporate seal the device
upon which shall be q pelican, with the name OF
the company.
The purposes for which the said Tradesnen g.
Fire Insurance Company OF New Orleans is estab-
lished and the nature of the business to be car
ried on by it. are hereby declared to be
l. To efft ct insurance on dwelnng-hOuses etoIes,
sugar.houses, cotton gins, presses, and all other
buildings of every description i'll the State OF Lou
isiana and other States Of the Union; also, upon
1ouc hn1A fnrpifnro merchandise,
property against loss or damage by hre or hight
ming.
toto with any other companies against any risks
upon which it shall have made Insurance
3. To establish agencies in the State OF Louisiana
and other States of the Union.
ARTICLE III.
The capital stock of the company is hereby
liked at one hundred thousand dollars, said
capital to be divided INTO shares OF ten dollars
each. to be paid in cash at the time OF sub
scription. The capital stock may, however, be
increased by resolution of the Board of Directors
where yer deemed proper. Transfers OF stock shall
he made on the books of the company. at its office
in New Orleans, only.
ARTICLE ".
Every six months, viz: on the fifteenth day OF
January and July, commencing on the fifteenth
day of January 1874, there shall be made from the
books of the company full and true statement,
showing up to date: l. The amount OF capital and
assets Of the company: p s Ths amount %n Of pre-
of profit and loss. The whole to be sworn to and
subscribed by the President and Secretary, and to-
newspapers in the city of New Orleans. The net
profits arising from the business as ascertained by
the above publications. shall be apportioned as
l. One.third of the net profits shall be set aside
a reserve fund for the purpose of increasing the
assets Of the company, and shall be invested in
such securities, bonds or mortgages as the finance
conn ittee may deem advisable.
2. The remaining twothirds to be divided among
fha afnc hOl 10 in n q M
OF shares held by each the said dividends to be
payable in cash semi-annually, at the Office of the
company in New Orleans, on the first days of Feb
ruary and August of each year.
II is. however, expressly stipulated that for the
first five years, viz: until the fifteenth OF July,
1873, oil interest accruing from the capital and TO-
serve fund shall be placed intact to the reserve
fund, and part of said interest shall be divided
among stockholders or used for expenses, but that
after sa0 fifteenth of July, 1878, and not before,
the said interest shall then be considered part
of the divisable profits, and shall be apportoned
in the manner hertinbefOre stipulated, namely:
One-third to the reserve fund and the balance 10
the stockholders.
ARTICLE v.
All the corporate powers of the company shall
be vested in, and its affairs administered by,
Board of Directors, who shall bs selected from
among stockholders holding not less than ten
shares in their own name; they shall be elected at
a meeting of the stockholders, convened for that
purpose, at the office of the company, the first
Saturday of December of every alternate year,
commencing in December. 1875 upon advertise
of New Orleans. At said meeting. ard at al elec-
tOns, each stakeholder holding ten shares or less
in his own name shall be entitled. either in person
or by proxy, to one vote, and every additional ten
shares shall entite the holder thereof to vote.
The members of the new board shall take their
seats on the Monday next following the election
in December, 1875, and shall then elect the pIesi
dent and secretary, who shall hold their seats,
together with the members of the board for two
Years, and until others are qualified to act in
their stead. The officers of the company shall
consist OF President and secretary, who shall be
G1a hy-f f6a rs vol
agent, superintendent, and such other agents,
clerks, and employees as may be necessary shall be
the Board Of Directors, and shall be removable at
their pleasure. The Board of Directors shall fix
the salaries of all officers and employees of the
| company. The first board shall consist of eight
directors. who shall have the right, vhenever
they think proper. OF increasing their number TO
President. secretary and board hereby declared
to be as follows to wit: j. Lawrence Raines, Pres'
dent; E. Harry Ansamar: secretary and Tobias
gamar, II. A. Grunewald A. c. Williams, ard 4.
Eude directors, who shall hold their seats until
the first election in December 1875.
The presence of five directors shall constitute
quorum for the transaction of business. The
President may grant leave of absence to the d.
rectors, officers and employees of the company
whenever in his opinion it can be done without
detrlment to the interests of the company. All
vacancies in the board shall be filled by the board.
ARTICLE VI
The President or. in his absence, one of the d.
rectoIs elected Tor that purpose shall preside at
all NEE tngs of the board and perform all the du-
ties of an executive officer, and shall conduct All
the business of the company generally. The sec
retary shall perform the duties usually appertan
ing to such an Office. The superintendent shall
have charge of the agency department and the
operations of the agents abroad, nnder the mme-
date supervision and control of the President
The general agent shall have charge OF the agents
at home. The duties Of all other employees to be
regulated by the President and Secretary. All
policies, checks and certificates of stock to be
signed by the President and secretary.
ARTICLE VII.
There shall be stated meeting Of the board on
the second Monday in January. April, July and
October of each year and also special meetings
whenever the President may think proper OF may
be requested in writing by majority OF tie board
ARTICLE VIII.
This charter may be altered amended or an
nulied and this company dissolved at any time
at general meeting of the stockholders con-
vened for that purpose by the board upon petit
ton to said board signed by the holde 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 twotbirds of the entire stock of the
company be represented at said meeting; and
provided, further, that majority of two-thlrds OF
the stock SO represented be obtained for the meas'
ure proposed and voted on.
ARTICLE TX.
At the expiration Of this charter or sooner f go
ordered as provided for in the foregoing article,
the affairs of the company shall be liquidated by
three commissioners to be elected by the board
Tor such purpOse. The board NAV cede 10 such
commissioners all powers necessary to the iQuida.
ton OF the affairs of the company may fix their
term of office, limit the period of li1udato OF, tx
their compensation, define their du,es ard The
manner ID winch they may be removed or their
term of Office renewed.
ARTICLE X
at the time of the liquidation OF the company
| the commissioners shall immediately proceed 10
wind up its affairs by selling OF the assets prvi-
leges and property of the company and collecting
| all amounts due the same. After paying all Abe
Just debts, and the losses and eXpenses which may