New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1874-02-12
CORPORATIONS,
tHAhTkh............. .........CHARTKR.
STATE OF LOUISIANA-PARISH OF ORLEANS.

i VVAUA VIVA - 4VXOn
OBSERVATION-DISCLOSURES
| CHARTER. .............CHARTKR
STATE OF LoU1srANA-PAR1sH OF ORLEANS
Be it known that on this twentieth day Of ia,
nary, 1874. before me Abel Dreyfeus. notary publ
therein residing personally appeared Messrs Iaoes
| William Hamn Sigmend Solomon, Albert Sadusky
John Ulcers, Lawrence Hilbert Hamm, Fran
| Riehm, Cyrus Hunter Ross, James Newton, Sig
| mund Thuerkauf and Paul Loais Waldemaro Riess
all of this city, who declared that, availing them
by the laws ofthis state Of Louisiana for the organ
zation of corporations in this state, they hsvs
! formed and instituted corporation for the pur
| regulations following, to wit:
ARTICLE l.
This company shall be designated and formed
FIRE ISsuRaNcE CoMsAs s = OF p" NEW ORLEANS.
ana its domicile shall be and is hereby fixed in the
city Of New Orleans, parish Of Orleans. State Of
| louisiana, aid the president thereof, or, in his
absence, the secretary, shall be the proper officer
1 upon whom may be served citations, notices and
2shsr legal process against the said corporation.
| 1t shall commence business as soon as the re-
quisites OF the law shall have been complied with
| twenty-five years from the date of oreanisation
during which time it shall have and enjoy succea.
SION. contr a sue and be sued hold. receive,
corporate name, property both real and personal:
shall establish such rules by laws and regulations
necessary, provided such bylaws shall not be CON
trary to the stipulstions of this charter or tia
laws OF TINS state and shall possess in general an
| corporations: Said company shall use corporate
seal the device upon which shall be an eagle, with
the name or the company around it,
ARTICLE H.
The purposes for which the said Merchants Fire
insurance Company of New Orlea. is establishef
1t. are hereby declared to be:
.aa 10 effect insurance on dwelling houses stores
hniidinSs oS r sanj, PRESSES. ana Oh other
hold furniture merchandise. and all other prop
erty against loss Or damage BY fire or lightning.
null with any other companies against risks upon
which it shall have made insurance.
s. 10 establish agencies in all the States and Tor
ARTICIg ILL.,
The capital stock Of the company is hereby xsd9
capital to be divided into shares of twsntv Soisr.
each, to be paid as follows, viz:
pany shall, at the time Of subscription. nav I've
per cent or one dollar per share, in cash, or, 1t
their o option IL due bill payable At sixty days
TO the company, payable in ten years from date Of
this organization; said notes to be reduced and
on OF their pro rata of the earnings OF the com
pany, and when Q" paid to be returned to the
original subscribers or their heirs or assigns.
L. The capital stock or the company NAV at anv
Tune be increased to the amount Of three hundred
thousand dollars BY resolution of the Board Of
DIRECTORS whenever deemed proper
=, e. Transfers of stock will be made only on the
books Of the company at ts office. in New Orleans.
shall be issued without the consent and approval
OF the president and secretary seer Of the company:
The stockholders shall never be liable for thu
losses OF the company in any larger amount than
what remains due on their stock notes.
ARTICLE VI
There shall be made q full and true statema,t
annually from the books of the company con.
peacing on the fifteenth DAY Of JANUARY. ISIS.
assets Of the company The smo"nt Of prs; ama
received and losses pad. 3. The balance Of pro6ts
s and Loss, The whole to BE- sworn to and sub
published ten tlmes during said month in two
newspapers Of the city of New Orleans
ARTICLE VII
The net profits arising from the business. ~
ascertaned by the aforesaid publications. shall
be apportioned as follows to wit: >''''A
ASIDE Is Of the net shall Be
cressing the assets of the company, and shall be
invested in such securities bonds Or mortgages a.,
Second-The remaining threefourths to be di.
vided among the stockholders in due prooOrtiou
to the amount of shares held BY each. to wit
l. The said profits to be pa able in cash annually
at tho office Of the company in New Orleans On
and after the first day Of March at the rate q
their stock notes pro rata and the balance of said
profits accruing to each stakeholder shall be in
and Sy ree TT the
shall be issued to all stockholders demanding it,
q as soon as the credits, Endorsed on the stock
notes accruing from the profits az above specified
shall have become equal in amount to the face az
sad notes, then the entire profits of the company
shall be paid in cash to the stockholdera az the
company from and after the first day of March
each year. 1t IS, however. expressly stipulated
ina, for the srst two years viz: until the first day
capital and reserve fund shall be placed intact to
the reserve fund, and part Of said interests
expenses, but that after said first of Maroh Igr6
ana not before the said interests shall be consid-
cred as part OF the divisible profits and shall be-
apportioned in the manner hereinbefore stipu,
lated, namely-One- fourth to the reserve fund and
the balance to the stockholders.
ARTICLE VIII
Ri the corporate powers Of the compsnv sb.u
be vested in, and its affairs administered by n
Board of Directors, who shall be selected 6Tom
among the stockholders, holding not less than
hye shares in their own Dame; they shall BE-
elected a. meeting Of the stockholders, co1veneS
for that purpose, at the office of the company on
the first Monday of December Of every alternate
year, commencing in December, 1876, upon adyer.
tisemsnt for ten DAYS in two newspapers of the
city of New Orleans. At said meeting, and at All
elections, each stakeholder holding i've sbsre.
Or less IN his own name shall be entitled either in
person or oy proxy, to one vote and every add:
uonai hve shares shall entItle the holder thereof
to one vote The members of the new board shsii
take their seats on the Thursday next following
elect the president and secretary, who shall
hsI their seats, together with the mem
I'll others are qualified to act In their stead Tha
officers OF the company shall consist of q president
and secretary, who shall be elected by the Rosrd
Of directors The general agent, and such other
shall be appointed by the president, and shall be
at his pleasure. The Board of Direct
pioyes of the company. The first board shall con-
'lst OF six directors who shall have the rioht
whenever they think proper, of increasing their
lumber to any number not to exceed twelve Tsa
irst president and secretary are hereby declared
o be as follows, to wit J. W. Hamm, president.
ma 3. saomon secretary, who shall Hold their
eats, together with the Board of Directors urt;I
he first election in December, 1876.
The presence of four directors shall constituta q.
norum for the transaction of business. The pres
dent may grant leave of absence to the directors
Ulcers and employees of the company whenever in
us OPINION u can be done without detriment to
he interests of the company All vacancies in the
oard shall be filled by the board.
ARTICLE TX.
me presidenr, or IN his absence, one of tht0
!rectoIs elected for that purpose shall preside at
ii meetings of the board perform all the dutjes Of
n executive officer, and shall Conduct ali IN.
usiness OF the company generally. The secretary
nan perform the duties usually appertaining to
barge of the agents at home The duties Of ali
ther employees to be regulated by the president an
tcastary. All poIicles checks and certificates Of
LOCK 70 % signed by the president and secretarys
o., ARTICLBX
lnere enali be a stated meeting of the boardNv
le nist saturday in January, April, July and Oc-
1 ,e., Oh each year, and also special meetings
henever the president may think proper OF NAV
Q requested Ill writing by majority OF the board
ARTICLE XII
This charter may be altered amended or an
1iied and the company dissolved at any time at a
oneral meeting of the stockholders, convened for
nat purpose by the board upon a petition to saba
oaId, signed by the holders of at least two. thrds
the entire stock of the company after thirfv
avs notice published ia two newspapers in the
ty of New Orleans, provided that a majority OF
ro-thrds OF the entire stock of the company b,
presented at said meeting, and provided further
lat majority of two thirds of the stock 40 rem
senled oe Obtained Tor the measure proposeS