New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1874-01-11
CORPORATIONS.
,lIARTER, ......................C HAhTEhs

"a II known that on this seventeenth day of
the month of September, in the year OF our LORD
nethousand eight hundred and seventy three. and
o Ftba Independence of the United States of Amer
"a the nine eighth, before me, Ernest Eude,
notary public duly commissioned and sworn In
Ind 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-
reared the parties whose names are hereunto sub
scr1bed who declared that awaiting themselves of
he rights powers and privileges conferred by the
avs Of the state of Louisiana The organ; zaton
Of corporations in this state, they have formed
md instituted corporation for the purposes and
obiects, and under the stipuations and Iegula
;Oils following, TO wit:
ARTICLE L.
This company shall be designated and known
:uder the name of the WoRKINGMEN's NATION
AL FIRE INSUR .NCE COMPANY. eff Louisiana;
Is doncile shall be snd is hereby fixed TIE city
- New Orleans parish of Orleans. state of Louis.
ana; i shall exist, commence business and con.
.nue for twenty five years from this date, during
-hlch time it will have and enjoy succession, con
tract, and be sued; hold, purchase. sell and
Otherwise convey all kinds of property. both real
Lud personal under its corporate name, and shall
POSSESS in general all the powers and privileges
:bat are given by law TO corporations. Said com.
pany shall use corporate seal, the device upon
which shall he bare arm raised and holding a
.ammer, with the name of the company around
:. Tie pre- sident or the vice president or in their
sbsence, the secretary shall be the proper officers
.pon whom to serve CITATIONS notices and ali
.:her 'eSai process against the company.
ARTICLE II.
me purposes Tor which this company Is @stab-
shed and the nature OF its business, are hereby
Ceclared TO be as follows, to wit:
:. To effect insurance against loss damage BIZ
ere lightning in Louisiana and other states Of
che Union, and OF the Anne, Jean continent: /. On
dwelling houses, stores, cotton gius and ali build
.ngs Of every description; 2. On ships, steamers
steamboats,, baIges and their cargoes ?. On house.
.old furniture. merchandise and al! oiae! pro.
.e5rtyE; T. cans. f.s,,,+ no rs,nsr-s, =, v,o
part. with any other insurance companies against
any risks upon VIII oh it shall have made insurance.
:. TO establish branch Offices and "a
louisiana aud Other States OF the Union.
ARTICLE III.
.he capita. stock of the company is hereby f.ea
s.: the OF three hundred thousand dollars
.vided into shares OF fifty dollars each Said 81 ares
shail be pad, AT the option OF the Subscribers in
sthtr of the following manners, to Wit: l. Ter.
yer cent of ,he amount subscribed payable il cash
Ell ID due bill at thirty days, at the time of sub.
scrfPtion, and the balance in note payable in ten
years from date. said notes to he redeemed aud
:ualy distinguished by the yearly credits thereon
a. Il -lr pro rata of the earnings of the company
specified in article seven of this chatter. Said
notes shall be subject TO such calls may he
Gered by the Board of Directors provided that the
calls so made shall be payable only after forty we
days notice, and shall not be for than ten per
cent OF the amount of the stock notes at any one
:me. 2 Or the whole amount subscribed payable
a cash or its equivalent in real estate or public
securities at their actual cash value: said sub
srribers to be allowed twenty per cent discount on
:A-ir subscriptions. 3. Or the whole amount sub
.cribed to be paid IN call notes secured by pledge
Hfpublic or real estate securities said subscribers
20 be allowed ten per cent discount their sub
.ous and said securities to be accepted 10 cuarau-
zee at the Tate of only sixtysthIee and oHe-thrd
per cent OF their actual cash value; provided that
81 subscriptions Of 81 e above second and third
saegorles shall be submitted to and accepted by
she finance committee before they can be received
and certificates OF stock issued The following ST.
'Urtes shall! be receivable as cash III payment OF
guarantee TOT the payment of subscriptions
mentioned IN Paragraphs two and three OF this
article, to VIII: Country and city real estate
acumbered, ti'st mortgage notes, bonds, stocks.
wee and land scrip of the United States and Of the
state Of Louis lana, any Other State of the Union.
std oI Solvent Tal oafs bank. canal and navigation
companies incorporated by special laws Of Che
United States. the State of Louisiana any State
Of the su0r. Subscribers shall have the privilege
=" at any time, Slt+r in whole or 81 part their
.-gina! mode Il subscription. The capital stock
-, lie company may DE Increased TO The sum Of
:.ve hundred thousand dollars whenevey The Board
=: 9Se":ois ".sJ deem proper 20 dog
ARTICLE ".
Tie .:octs"'iers shall never De 2.aN'e Cor .h~
''sses OF :Ls company in any larger than :i!e
.l.o.Es IL iL..hsi2 due Oh !heiy stock GU:c&
AETICIEv.
'-rts ra:4s ~ stock shall t- o,'v issued ~!.es
sl paid and trans of stock s'i.i! Ne made only
.n'le BOOKS " ;t.e company. a: :.s9d.ce. II New
n.F2nss
IN She 1flu:ssay preceding .he las. sa.u.da, IN
:.cembes ~ @acn year, commencing the year
1874, there shall be made the books the
company, Il 'sll and true statement, showing. up
'"datt First, Che amount OF capital al CT
:he company; second. the amount OF premiums
..ived, third the losses paid aud o. peuses il.
cured; FOUR h. the balance Of prois and loss the
'hoe to be sworn to and subscribed by the presi.
cont and the secretary. and ts be- published ten
'me' during one month in 1Aree Hs".I a..!>c: the
~! U. SeV GsseauS.
:he re: profits OF the compan. -i.: be app,c
grated as iolIows, 10 wit:
!: An interest Of zen per cent siial: be ,,aii ~
lash TO the stockholders, at the office o: ths
EaHy from and after the tent. day OF January of
Zach year, com ,rencing in 1875, on :he payments
slade bv thel.. agreeaby to paragraphs FIRST.
opd ana bird OF article three of this charter and the
ar a e. he al led in f,,I1r
'inal parts three parts whereof shall be placed to
the reinsurance and reserve flnd, and the other
par shall IL. paid in cash to the subscribers speci.
led IN The second and third paragraphs OF article
'hree this charter, rata to the amount their
subscription. she subscribers of the FIST category
icing pad their share Of the profits, stipulated
nartce three of this charter by the iDdorsemen;
on their notes ostht amount they entitled to.
. 40 soon as she credits endorsed on the stock
'ots OF the .Chscrbers of The first category of
,cls three SHAH have become equal in amount to
sher face, sum sufficient to maintain The seD-
'rsnce and reserve fund to the standard OF $500
80 shall be taken from the profits of the company
and placed IN said fund, and the entire balance
'hal be palt. - cash to the stock holders.
ARTICLE VII.
III. affair. q, :te company shall be a'n,is..rc
~ u board Of twelve q rec tors who shall be
scted from among. the stockholders holding not
"ess than fifteen h.res in their own name. They
shall be elected at meeting OF the stockholders
convened fog that purpose, at the office of The
company on the FAST Saturday of December OF
every alternate Sear. from and after December
$40 after advertisement for ten days IN three
seNsnanerS published n the city OF New Orleans
AT sad meeting and at all slec ions each stock
holder shall be entitled tu vote for each ana
every share OF stock lie shall hold in his name
or by proxy All elections shall be supervised and
Their result declared by three commissioners ap
ponted by the Board Of Directors from among the
stockholders. The members of the board shall
lake their seats on the Monday following the cleo
fon, and shall then elect the president, pres.
'ent, the general mansg ger and the secretary of |
tht company. The first three named officers to he
selected from the Board of Directors, and al four
OF them 10 hold their seats together with the di. |
qualified 20 &C. il their stead .nless they be
removed, after Impeachment and trial. by vote |
81 two-thirds OF the entire board. The supeTin. |
lei dent OF agencies and such othe. clerks and
poy.s may be deemed necessary snail be an. !
painted by the president with The consent OF the
board and shall be removable at their pleasure. |
The Board OF Directors shall ii the salaries OF ali |
The officers and employees OF the company. and |
shall Also adopt snch bylaws they lnsy deem
NECESSARY for the administration OF the affairs OF |
The company, provided said by laws shall not be
contrary 10 The stipulatioEs of this charter the
laws OF this STATE. The board NAV ais. delegate |
such powers IA the transaction OF the ordinary
business of the company to committees of their |
own body their officers o. IL. SCENTS.
bHsy ma! seen Hpedient.
ARTICLE *.
Tie rre-'dasl.. or in his absence incapacty,
70 wee president shall preside at al meetings of
~" board be- Shall supervise all the business OF the
company generally. and see that the requirements
OF inns charter, the bylaws of the company and
me orders and resolutions o. the board be faith
MY earn led out. The general manager skal be
The active executive officer Of the COMPANY: he |
shAll have the control of all agents agencies and
branch Offices and shall attend to all the bust
ness OF the company under the supervision of the |
PRESIDENT and Board of Directors. The secretary |
shal perform all the duties usually appertanng to
SAID Office Tie superintendent OF a-tu shall
nave charge of the branch offices, agencies aud
agents III the city of New Orleans and state of |
Louisiana, under the supervision Of the pre- sideut
ana general manager. The duties of the other EN-
po' rs shah be regulated by the president and the
% RI r.nl T.gf..g