New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-07-27
CORPORATIONS.


It shall ard be sIed in it's corporate name arg
all citations ard other legal process snaII 1e sersec
on the president, and IN his absence on Inc secIe
tary of the company The bylaws that may here
after be adopted by the Board of Trustees f0r me
government and regulation q the company s,'a,i
not be il conflict with nor contrary 10 les cHai-
ter Of the acts Ci the Legislature OF 'ns etS'e
relative 70 corporations.
ARTICLE II.
This company shall have corporate seal! the
deyic. upon :ie same shall be a tre engine, with
the motto wires acquirt eunGo.' and :he LANE OF
the company il the margin.
ARTICLE III.
TIE objects ard purposes OF This corporation are
hereby declared TO be 70 make insurance upon
dwelling houses stores and other buildings, house
hold furniture, merchandise and other propelty,
against loss or damage by nre ana .lshtn!Ls; 10
all risks upon which they have made or sha!l
make i.su auce; to establish agencies Z tEis STATE
and u che other States OF the Union.
ARTICLE ".
Tie ,ap;-a, stock Of this company s'.aii be two
hundred and fifty thousand dollars with inc PRIV,
ilege of increasing SAID amount to I'VE EuEdled
thousand dOarel divided !nto zen tHousalo saiaIts
of TWENTY-FIVE dollars each. A! persons supscIlD-
ing TO the capital stock Of this company snai pay
at the time of subscription fifty per cent OF me
amount of each share passing to the company
their not. for the balance remaining unpaid said
notes 10 be made payable On me ntsl uay VI ny
1875 but shall he subject to the cans p!oVoeo lol
in article six of this charter should, however, the
dividends Of the company be such that, after beng
apportioned pro rata among tie stockholders, the
the ttockholdeIs On Or before tie end Of the Sec
ord fiscal year, viz-the first day OF July ls.s' shen
said notes are to be cancelled: and every year
thereafter the dividends ct the company are 10 DC
paid in cash unit. the capital stock OF the company
is full. paid,up ard interest dividend OF ten per cent
cash on The amount paid il shall be allowed
to stockholders at the end u each hscal
year. In addition 10 the capitai sIot ok
created. to consist Of all interest received, OF
profits loans and Investments, ana OF an
amounts received from o her sources :tan pre-
MANS and from this fund dividends Of interest
snail be made 20 stock holders.
Transfers of stock shall be made OF the BOOKS OF
tire company. al its office IN the CITY OF NJ" or.
leans only on demand of the legai ANideI tEereol
and the surrender OF certltcates.
ARTICLE v.
AN the corporate powers appei.airinc 70 This
company are hereby vested ia and shall! be exer,
OF Trustees not exceeding eleven persons, 1nclud'
ing the esdent who shall be selected from STOCK.
holders holding not less than twenty hve snsres oI
the stock of this company in their own name four
of whom shall form SQuOrum f0rthe ira nsacl1on Vi
business. The officers of the company shall consist
of a president secretary and super: ntendent OF
agencies ard such other officers and employees az
the president may deem necessary
An election for officers aud trustees o, .ns np
the first day OF July, 1873. ard every alternate
year thereafter.
members Of the Board of Directors. by the mem
beers thereof Immediately after their election.
The following named persons are hereby cons 9
tuted as president secretary and trustees OF ths
company ard shall hold their respective positions
until the first day Of July 1875, viz David Leu6rie
preside MT; Frekerck A. Johnson, secretary; WI,
liam H. Decker, E. S. Drew. A. VI. Muller and David
Leubre, trustees. , -.
The president shall preside at az meetings OF
the hoard and at the meetings OF the stoGkhold-
ers of the company. The president shall have
the sole appointment of all officers not elected by
the board as PREF snts He nav Whenever he
deems it not injurious to the interests OF te com,
pany, grant leave of absence to the trustees ana
| TO the officers and employees OF the company .
The president and secretary shall syn all pom
| 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 shalI nave
charge of the age cy department OF TINS company;
| under the immediate supervision and control OF
| the president. o, ",
The trustees are hereby empowered, whenever
the necessities OF the company should require IT.
! to make calls upon the stockholders for such
| amounts, not exceeding ten per cent OF the un
paid portion Of the capital stock at any one time
after giving thirty days notice to that effect II
| two Of the newspapers of the city OF New orleans
No stakeholder shall in any event De made .la a1
than the amount of his her or their subscription
to the capital stock, or his. her or their indebted
| ness to the company. Transierees OF stock MOI
fully paid up shall assume all ndebte dness there
on and the same shall be approved by the Board
of Trustees. ,
1
| Every five shares of the stock OF this company
held by a stakeholder thereof shall entltle the
| holder thereof to one vote and the holder OF any
| fractional nNmber of shares. less than I'VE 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
| uual statement from the books of the company
, time nlse Of q,
all sources the amount of losses paid the genera
expenses of the company up to date, al ana ,. dnt
to and subscribed by the president and secre tary
| and published ten times during said month O
| August in two newspapers OF the city OF New VI
| leans.
It's hereby provided that ten per cent OF tn
| net profits of this company, derived from IN
local business of the city of New Orleans shall bt
and is hereby donated to the FireInens Charitable
Association Of the city of New Orleans, and thai
| the amount above designated shall be paid annu
ally 10 the authorized representative OF said asso
| ciatien.
This company may organize local boards in othel
States TO " HON shall be reserved fifty per cent o
| the funds derived from the net premiums received
| ia the places where they may transact business
provided that at least one THOUSAND shares res s9al
| hundred shares in the city or town, IN winch an,
| such board may be established: Fifty per cent 0
| the cash funds thus entrusted to the care OF thu
| local board may be invested as this charter pro
| vides TIE whole shall be under the control ant
| management OF the local DOaru CT salO CITY "
! State The losses that may occur by fire, wher'
| local boards established, shall be PAID IRON
the funds in the possession of such local boards
and reserved to their control py the provisions
| this article. Said local boards shall make
| monthly report to the home office, in the city o
New Orleans, stating therein the amount OF pre-
| local agents, the amount invested, ana nov Sc
cured, the inteles, derived therefrom, and th
Where deposited Said statement to be duly signe'
and authenticated by the president and secretar.
OF said board. All local boards the president AM
secretary thereof included. shall! perform the du
| ties herein prescribed and assigned .ratuItousy.
ARTICLE II.
There shall be quarterly meeting Of the Boar
! Of Trustees to be held on the first WedEes day Q
August November, February and May OF each veal
| and the president may convene the board When
ever he may think proper to do so, or whenever re
quested to do writing by five inenber thereof
ARTICLE XII.
7, shall be lawful for the Board Of Trustees to IL
| vest the capital stock and such other moneys
| may come under their control IN bonds ana NOR
| cages on unincumbered and improved real estat
| In The CITY OF New Orleans to an amount no1 eA
ceeding $4,000, and in every case the pTopea proper.
| they may also invest the capital STOCK anu otne
cash funds in the stocks created by or under tn
laws of the United States, or OF this state, or Q
| other States and may loan the same upon receiy
ing such stocks security, in sums not exceeGin
threefouIths the par value OF ne same. me
shall make such other disposition OF the moneys Q
the company as they may deem conducive TO III
interests Of the company.
| ARTICLE XIII.
! The stockholders of the company, at genera
| meeting to he convened for that purpose. afte
| thirty DAYS notice in two OF the newspapers put
| Tshed in this city, shall have power to make an
! changes additions or notifications IL this act {
| Incorporation or 10 dissolve the company; pro
| vided three-fourths OF the st0ckhc dets OF Ill
| company present at. or represented ty proxy,
| said meeting shall vote in favor OF such propose
| measures and any and al! such changes, addition
| orr dissolution shall, recorded al
| published as required by law. In the event tia
| the same should become necessary the Aquida'i 70
| of the affairs OF this company SHAH be made 0