New Orleans Republican., 1873-06-26
CORPORATIONS,
CHARTER. - CHARTER
STATE Or LOUISIANA.
PARISH OF ORLEANS, CITY OF NEW ORLEANS.
CHARTER

June II the year one thou sand eight hundred and
seventy-three before me, John Bendernasel. a no
tary public in and the parish of Orleans State
Aforesaid, duly commissioned and qualified, and III
the presence of the WITNESSES hereinafter named
and undersigned personally came and appeared the
parties whose names are hereuntO subscribed, who
declared that, avalling themselves of the rights
and privileges conferred by the laws of this State
relative to the organization Of corporations they
have formed and organized, and do by these pres
ents form themselves INTO and constitute a corpo
ration for the objects AID purposes, and U.der the
stpuatCns hereinafter set foTtn 80 WI.
ARTICLE I.
The domici,e Of this company is hereby estab
she'i in the city OF New orleans. State or Louis
lana, and it shall be designated and known under
the name style and ii IL of the FRANKLIN FIRE
INSURANCE COMPANY of New Orleans. 1t shall
commence business the req quIremerts OF
| the law are COMPLIED with, and shall exist for
twenty five years from the date Of this charter.
|: shall sus and be SIZED III its corporate name, and
all citations and other legal process shall he served
On the president and III his absence OIL the secre
rary OF the company. The bylaws that may here
after be adopted by the Board OF Trustees for the
government and regulation of the company shal
nOs be in conflict with ,or contrary 10 This char
ter, Of the acts Of the Legislature OF TIN. State
relative 20 GorpoTatioa+.
ARTICLE IL
tbs company shall have corporate naa,; the
device upon the same shall be a ire engine, with
The motto wires acq:iri- eundo. and the Iane Ct
| the company il the margin.
ARTICLE Ii.
TIE objects and purroses of this corporation are
hereby declared 70 /. TO make insurance upon
dwelling houses stores and other buildings. house
hold furniture, merchandise and other property.
against loss damage by fire aud lightning; to
cause themselves 10 be reinsured against any or
all risks upon when they have made or shall
make Insurance; to establish agencies III tins State
and III the other States OF the Union.
ARTICLE ".
The capital stock o: this company shall te two
hundred and fifty thousand dollars with the priv
lese OF nereasing sa,d amount to hve hundred
OF twenty five dollars each. All persons subscrib-
ing TO the capital stock o: this company shall pay
at the time OF :....oi fifty per cent OF tho
amount of each share passing to the company
their notes for the balance remaining unpaid said
notes to be made pay.oe on the first day OF July,
1875 but shall be subject 20 the calls provided for
in article six of this cartei should, however, the
dvidends of the company be such that, ater being
appOrtioned pro re- "a among the stockholders the
dividends thus declared should be sufficient to ex.
tinguish the face vaie Of said notes thus given by
the stockholders, oa or efoTe the ent OF the sec
ond fiscal yeaE viz-ae first day Of July, 1872 then
said notes are to be cancelled; and every year
thereafter the dividends of the company are to be
paid III cash until the capital stock of the company
is flll paid up and interest dividend of ten per
cash on the amoun. paid in shall be allowed
to stoGkholde;s a. ;Ae end OF each nscal
Of the COmranv. a contingent fund shall be
created, to consist cf al interest received. of
profits on loans and Investments, and OF all
amounts received from o her sources than pre-
miinis and from this fund dividends OF interest
shall be made to stockholders.
Transfers of stock shall D~ made on the books OF
the company. at It's 0tice. the city of New Or
leans, only derian': o: the legal holder thereof
and the surrender OF CeIt:ncateS.
AgTICLEv.
All the corporate powers appertainins 90 this
COMPANY are hereby vested il and shall be
cise,i by tie Ire5iSen. a:i secretary and Board
of Trustees, not elceediCg eleven iersons, includ-
ing the president. who shall be selected from stock
holders holding not less than twenty i've shares of
the stock of this company in their own name four
of whom shall form qrorIn tor the ira asaction OF
business. The officers o. :5e company shall consist
of pSl;Pnt, secretary and superintendent OF
agencies, and such other olcers and employees as
the president mag deem necessary.
An election fo- OACel: and trustees OF this COM
pany will be he'd evtrTt'v years, commencing on
the fist day Of July, 1875, and every alternate
year thereafter.
The president shall be chosen from among the
mem bers Of the Board o. Directors, by the mem
bers thereof Immediately after their election.
The following named persons are hereby cOnsti.
tlIted president; secretary and trustees OF this
company, and shall ao.d der respective positions
until the first day OF July 1875, viz: David Lev brie
president Frederick 4 johnson, secretary; vii
liam H. Decker. Z. s. brew. =. u. Muller and David
Leubrie, trustees.
the board and at she meetings of the stooknod-
ers Of the company The president shall have
the sole appointment OF all officers :o elected by
the board as prescrloedia tbs article and also OF
all employees and agents. lie may, whenever he
deems it not injurious 70 :Ae interests OF the com
psny. grant leaTs OF Absence to the trustees and
to the officers am; empires OF the company.
The presiden; and secretary shall sign all poll
c.es checks receipts, AID certificates of stock.
In the absence @: the president. the chairman OF
the finance committee SHAH act as president pro
tempore, ard sha,: sign al policies and checks.
The superintendent OF agencies shall have
charge of the age:cy department. OF this cGn oany
under the immediate supervision AID coatrcl OF
'-' ARTICLE VI
The trustees are nersb- empowered. Whenever
the necessities Of the company should require il,
to make calls Upon ;lc stockholders for such
amounts, not exceeding :e.: pc: cent of the u:i-
paid portion Of III. capital stock at any one tinis
after giving thirty .ays notice to that effect IN
two OF the newspap pers Of the city OF New Orleans
No stockholder shall many event be made liable
for the losses of the Ddnv in any larger sum
than the amount OF his her or their subscription
to the capital stock, or his. her or their indebted
ness to the COMPANY. T,&neferees Of stock not
fully paid up shall assume al Indebtedness there
on, and the same slal. %; approved by the Eoard
ARTICLE VII.
Eve.y i've sha.es OF tie stock OF this company,
held by stoCknoder :lleIeof, sbali entitle the
holder theleof to vote. and the holder OF any
fractional number OF shares less than hyg shares,
shal. be entitled - one vote.
ARTICLE VII.
There shall he made on Ii. second Wednesday
of August. commencing with the wear 1874 an an
IUai statement from the books OF the company,
showing up TO the first day of August of said
year. the total amount Of premiums received from
all sources :he amount OF Losses paid the general
expenses Of the company up to date, and the
balance o, profit and lose, the whole to be sworn
10 and subscribed Hv the President and secretary,
aud published ten times during said month Of
August is two newspapers Of the e:ty ot New o:'
!eacs.
I: Is l,e,eD- provided that zen per cent o. the
net profits Of this COMPANY. derived from the
local business of the city o. New Orleans sha III be
and is hereby donated 20 tie F.remen's Charitable
Association of tie city Of New Orleans, and that
the amount a,3v. designated shal. be paid annu.
all: the authorized representative sf said asso'
c!a.i0n.
This company ~ organize local boards in other
States 20 whom sila.: De reserved fifty cent of
the tl,iis Gcrveti from the net premiums received
=. the places where ;aey may transact business.
provided that at least one Thousand shares shall
have been sl.oscI:,. .i the State. at least five
hundred shares in the cit. or town, i1i which any
such board may be established. Fifty per cent OF
the cash funds thUs entrusted to the care OF the
Toe al board may be invested as this charter pro.
yides, The whole shall be under the control and
mana cement OF the loca. boaTd of said city or
local boards established, shall be paid from
the funds i'll the possession OF such local boards.
and reserved to ;he!I control by the provisions OF
this article. Said local boards shall make a
monthly report TO the home office, i'll the city OF
New Orleans stating therein the amount OF pre-.
miums handed 70 the. BY Tho general tPeelai or
cured tie interest derived therefrom. and the
cash funds remaining IN their possession. and
and authent Gated BIZ the president a1d secretary
OF said board Al local boards, the president aAd
secretary thereof iuc UdeG. shall perform the du'
ties herein pIescvibed and assigned :,ratu!toNsiy.
ARTICLE M.
There shal! be quarterly meeting ot the Board
of Tr71.t4es 10 De held the first Wednesday of
August November. February and May OF each year,
and th. president may convene the board when.
ever he NAV think pr0pe 10 do 50, or Whenever ie.
Quested 10 d. wiring by I've membeHs there d.
ARTICLE XII.
Z. shall be .svf,. .or the Boar! Of trustee. 20 Il:
vest the capital stock and such other moneys as
NAV come under their control ~ bonds and mort
cages Oh UuiHcumbeIed ana improved zeal estate
IN she city OF New orleans, 20 amount not eI-
ceedlrg $4,000, ard in every case the pro.ert.
shall 5e worth twice tle amount loaned iheie'n;
casi. funds in the stocks creat.c by or rnde: the
of tie ErifeE Staras ii thil State, or OF