New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1874-01-14
CORPORATIONS,


Be it known that this seventeenth day OF
che month OF September, in the year of our Lord
one thousand eight hundred aud stventy-three, and
9f the Independence of the United States of Amer
lca the ninft eighth, before me, Ernest Eude, a
and for the parish Of Orleans and the city of New
Orleans, State of Louisiana, residing in said city
and in presence of the witnesses hereinafter
named and undersigned, personally came and ap.
peared the parties whose names are hereunto sub
scribed, who declared that, availing themselves of
the rights, powers and privileges conferred by the
laws of the state of Louisiana for the organ zation
"t eorporations in this state, they have formed
ana instituted a corporation for the purposes and
objects, and under the stipulations an. secul4.
5icDs following, TO wit:
ARTICLE
This company shall be designated and known
nader the name of the WORKINGMES'S NATION
al FIRE INSURANCE COMPANY, of Louisiana:
its domicie shall be and is hereby xed in tie CITY
of New Orleans, parish of Orleans State of Louis
ANA; 1t shall exist, commence business and con.
Einue for twenty i've years from this date during
which time il will have and enjoy succession con,
sract, sue and be sned; hold, purchase. cell and
otherwise convey all kinds of property, both real
and personal under its corporate name, and shall
possess in general all the powers and privilege
shat are given by law to corporations. said com
Pany shall use corporate SEAL the device urol
which shall be a bare arm raised and holding {,
Hammer, with the name of the company around
IT, The president the vice president or in their
Sbsence the secretary shall be the proper fl GERS
2pon whom to serve citations. notices and 81!
StheS legal process against the company
ARTICLE H.
Ashsd, ana the nature of its business are hereby
aeclartd 10 be as follows, to wit
1. To effect insurance az ainst loss damage Nv
IRE or lightning in Louisiana and other states of
Che Union, and Of the Amel Jean continent: !. On
dwelling houses, stores cotton gus and all build
lngs of every description; 3 on ships, steamers
steam boats barges and their cargoes; 3 On house
hod furniture. merchandise and Az other pro-
?. TO cause itself TO be reinsure6 il, Whole or in
part. with any other insurance companies against
any Isks upon VIII chit shall have made Insurance
3 offices nd
&oHsiana and other States the Inious
ARTICLE liz
tshe oasieaG stock of the company IL hs,.,y ~ ed
az the sum OF three hundred thousand dollars
divided into shares of fifty doars-acf. Said shares
shall BE- paid, at the option of the subscrl bers in
other of the following manners. 90 wits Z, Ten
yer cent ofths amount subscribed pay able N cash
ID a due bill at thirty days at the time of SUB
ecription, and the balance in note PAYABLE 4. ten
gears from date; said notes to 10 redeemed ara
enally extnguished by the yearly credits thereon
OF their pro rata OF the earnings of the COMPANY.
specified in article seven of this ahaItes Said
notes shall be subject to such calls may DE OF
dered by the Board Of Directors Sded that the.
calls SO made shall be payable only after fol " five
days notice, and shall not be sor than ten per
oenv@f the amount of the stock notes az any one
Sme. OR the whole amount subscribe Ijayahls
1i cash OF ITS equivalent real estate Or public
GecurltieS At Abelr actual cash Salue said sinh.
ecrbeie 20 he allowed twenty per s-nt discount ON
sies ,scUptions Q. OR ts, whole amount sub
e.nb"i t"'e paid incall notes SECURED ~ pledge
fpuhll0er9eai estate securities; said subscribers
Go be allowed ten Yer cent siiscourF sheie gu D
ecns and saiS securities to be accept in guaIan.
See at9lisEate of only sixty thrse and oss,-third
sersensHi sleir actual cas- h galne provided that
o.! subss yiptiou0 of D above second and Third
eategsaes shasi bs submitted 10 and accented br
She finances committee before hey can b. received !
end ceritcaas OF aoek issued ghe Sol!owhic So. !
sirRes SHAH ~ receivable as sasi ", payment OF
% apalisse tor tie paymeIH of subscyi ptio.ls
Gentiorel 70 paragraphs tive and three Of thi. |
srticle, to wit County 1Od city seal estate IN. |
S-ee and nd scrip Of the United States and of H.
sta'e Opuissans Cr anybther State n The Un.n.
s,dsi sol - ns RAILROAD, banT. canal and gatea
companies Georporaeeth by special laws Of she !
Unites kttsss. she State Of Louisiana or any State
o! ehe Sni.n. Subsxibers shall iaW the privilege
ssisina mode a subscrpeor. Th. capital stock I
o. iie COMPANY siv b incsased 70 the .nm .. I
Aus llsass9 thousand dollars when. veg the R.aad
% A.sas .sss NAY deem SropeS :" Do 80
ARTICLE ~.
Sic ss..Saei1ers sllall never be HAZE HDe me |
h-ses si the company in any larger than the \
aSsaas n1nsasng due Onthss st-ck EUsss
ARTICLE
Seseifsas. ~ Stock sfaR be s.'y i.sus8 when
?s paid and trans ers OF stock shaiI be made only
On Tn. n"sGs y! sIs company, a IT. stiics, ~ Mes
ARrI0E u
: ~. te - Rssap pre- 3dne she list Saturday 4,
t..smb~r ~ each year, commencing on the year I
S1S ,iNr shall fe made from the book. ~ the
sompanys a tul and true statement showing. up !
70 date: Frsts the amounJsS capital and assets Of
Ste company; second, the amount of prens.ms r..
s-i~do thsd. the losses paid aud expenses in
smHd So1ris the balance OF profit and loss she I
sNole Z" be swornso and subscribed bs the pres. 1
ienS aud the secretarye and to be published ten !
eme.dnr.ng.ne mouth M thlse ns "svaSrss Vt tie
~ ~ .s~ o AS.s.
aRT1cfE sn
10 yer arosss Of s'le compsss sss: ~ sr,se
grated as follows, to vita
eash - the stockholders, at the Office of the som
PAW. from and after the tenth do of sInuary OF |
yea r. aOfsmencing in 1876. ou Che payments !
made aprpFahly 0aIaprnObs se,D I
end andthrd Particle three of this charter and the
.sanceef the earnings shall be divided in four I
VIZ reinsurance and reserve fund" and the other |
pare shah be sad in cash to the subscribers specs
Ned Che st cond and elird paragraphs of article
afee OF tA1s charter pro rata TO the amount OF theB
subscriptions he subscribers of the first category
sartice three of this charter, by the Endorsement
>n theis notes OF the amount they entitled to-
= So soon as the credits indoIsed the stock !
lotes OF the subscribers of the first category of
Icle three shall have become equal in amount to
'seir face4a sum sufficient to maintain the reis |
purance and reserve fund to the standard of 5000
pt shall be taken from the profits of the company
md placed in said fund, and the entire Saanae
hei. ~ S.S 80 cash to the stockiOltge 1t
ARTICLE viz !;
she o. o. % .hasompany shall Se eqssini.eerv l .
u . board OF iwelve d rectors, who shall be Sc.
~cted from among the stockholders holding not I
ess than fifteen shares in their own nance They
'halese elected at a meeting of the stockholdersi
'onvsneS for that purpose, at the office Ct She
company on the last Saturday OF December of | ?
very alternate year. from and after Decenher. Il
.'5, after advertisement for ten DAYS in three ! u
'eN spapers published in the city of New Orleans -
Al said meeting ana at allsections each stock. 9
'oid(s shall be entitled to one vote for each ana
ssry share Of stock he shall hold in RS own name a
= by proxyo All elections sha be supervised and 81
l.iS ersuit declared by three commissioners az ! G
oin.ed b, Che Board of Directors from aHong she Z
The members of Or board ehall ] :"
axe theS Az on the Monday TO lowsg the eiec- ! G.
ION and shall 'hen elect the president wee presi.
emf the general mansger and ue secretary OF
le soupanyo The first three named officers TO be
plected rem the Board of Directors and az fouT N
I them tsiold their seats, together with the di ~
AstoIs, uusil the net election aud until Othtas
~. lifted foacc i'll their stead, unless they be
am"'es after impeachmene and trial, by a vote
two.tlirds lCt the entire board. The superns ! d.
f&tns % agencies and such other clerks and EN- | X
nyts as may be deemed rUsssary shall be 40 ! .,
card, and shall be removable a. their pleasure. n,
be Board of pirectoks shall the salaries of all a,
10 officers and employees OF she company. and | NJ
lal also adopt snch bylaws Ney may deem ~
cessary for the administration oS Che affairs OF Of
le COMPANY, provided said by laws shall not he | ~
rerary TO the stipuatioss of this charterSr tie
No OF thS State. The board may else delegate 4 -
zen powers IN tse transaction "a the ordinary | al
.s,h.sS oi the company TO committees of their pr
~ Hi'ss s,Asss xpedien. 4 90
ARTlCIss3. re
sss Srssd6he. or in his abse.,ee or Pcapacity r.
president, shall preside a. 2 II meetings OF 1
e beard; be shall supervise al! the business the ~
mpany generally, and see that the requirements [ -
this charter, the bylaws of he sarn oany ard si'
9 orders and resolutions Of the board be faith
llY carried ont. The general MANAGER shall ha O.
., active executive officer of the company. be !
all have the control OF all agents agencies and o..
aucli Offices, and shall attend to all the fire bust ~
IS OF the company under the supervision of the A..
ssidsnt and Board of Directors. The secretary | -,
al perform all the duties usuatS appertaining e Ip
I'd Office. The superintendent Of agencies shan n
60 .sarge OF the branch offices, agencies and ? -,
sut. in the city of New Orleans and State nj | No
5isiana, under the supervision of the president re
d general manager The duties of the other ems Vi,
regulated 4