New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1874-01-09

HHARTER...."...... CHARTER.
Be il known that on this seventeenth day of
the month OF September, i'll the year OF our Lord
thousand eight hundred and seven; y-three, and
of the indie pehdence OF the United States of Amer
lea the nine eighth before me, Ernest Eude, a
notary public duly commissioned and sworn. in
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 aud undersigned, personally came and APP
peared the parties whose names are hereuntO sub
scIlb bed, WHO DECLARED that, awaiting themselves of
she rights, powers and privileges conferred by the
laws OF the state of Louisiana for the organization
of corporations in this state they Save formed
and instituted a corporation for the purposes and
objects. aud Hnder the stipulations and regua
lions following. 10 wits
ARTICLE =
This cur,tarv oil alp he designated and known
Under the name OF the WORKINGMEN'S NATION
Al FIRE Insurance COMPANY of Louisiana;
ats domcile shall he aud is hereby fixed IN tie city
o. New Orleans parish of Orleans, State Of Louis
lama it shall exis's commence business and con
tnue for twenty five years from this date, during
which time il will have and enjoy succession, con
tract. eue and be sued; hold, purchase sell and
otherwise convey all kinds of property, both real
and personal, under its corporate name, and shall
possess in general all the powers and privileges
that are gwen py law to corporations. said com
pany shall use d corporate seal, the device urOn
which shall be bare raised and holding
hammer, with the name of the company around
il. The president OF tie vice president or in their
absence, tho stcreraiy, shah be the proper officers
upon whom 'U serve citations. notices and all
GtheS ir.. PROCESS against the compsnyo
ARTICLE IT,
The .r:pes.s Yo9 which this compaus IS estab-
!ished. and the nature Of its business are hereby
declared TO be as follows, to wit:
J. TO effect insurance against loss or damage by
fire or lightning in Louisiana and other states of
the Union. and Of he Amer iean continent: l. On
dwelling houses stores. cotton gins and all build
ings OF every description; 2. On ships, steamers.
steamboats,, barges and their cargOes; 2. On house
hold furniture. merchandise and all other pro-
pertS.
q To cause eseIf TO he rensured in whole or in
part, with any other insurance companies against
any risks upon which it shall have made insurance.
3. To establish branch offices and agencies in
Louisiana and other States the Union
ARTICLE III.
The capital stock of the company is hereby fixed
az the OF three hundred thousand dollars
divided into shares OF fifty dollars each. Said shares
ehall be paid the option OF the subscribers iIf
either OF the following manners. TO wit: !. Teu
per cent of the amount subscribed payable in ash
or due bill at thirty days, at the time of sub
scIi ptOn, and the balance in note payable in ten
years from date; said notes 20 be redeemed and
finally extnguisbed by the yearly credits thereon
of their pro rata of the earnings of the COMPANY,
as specified III article seven of this charter. Said
notes shall be subject to such calls as may be
dered by the Board II Directors provided. that the
calls SO made shall be payable only after forty five
DAYS notice and shall not be for more than ten per
cen. OF the amount of the stock notes at any
time. 2. Or the whole amount subscribed payable
in cash or its equivalent in real estate or public
securities at their actual cash value; said sub
scIibers to he allowed twenty peg cent discount on
b. D.
scrbed to be paid n call notes secured by pledge
OF public reai estate securities; said subscribers
TO be allowed ten per cent discount their sub
tons aud said securities to be accepted iD guaTan-
tee at the rate Of only sixty -three aud ohethird
per cent OF their actual cash value; provided, that
all subscriptions of " e above second and third
categories shall he submitted to and accepted by
the finance committee before they can be received
and certificates OF stock issued. The following
curites shall be receivable as cash III payment Of
guarantee tor the payment of subscIi ions
mentioned in paragraphs two and three Of this
article. TO wit: Country and city real estate
incumbered, first mort gage notes, bonds. stocks
l-vee and land scrip of the United States and of the
State OF Louisiana or any other State OF the Union,
and OF solvent ralfo bank, canal and navigation
companies Incorporated by special laws of the
United States, The state OF louisiana any State
of the Union. Subscribers shall have the privilege
TO, at any time, alter in Whole o. in part their
original mode 81 subscription. The capital stock
OF the COMPANY may be increased TO he snm of
Of Directors may deem proper to do 80.
ARTICLE ".
IRE stockholders ehall never he liable for the
losses OF the company il any larger than the
amount remaining due on their stock notes.
ARTICLE V.
Certirca:es OF stock small be- oI.iy issued when
fun PAID and trahs ers OF stoca stall be made only
On the books et the company, a. ito Office, in New
Orleans.
On the Thursday preceding the last Saturday in
december or each year commencing Oh the ear
company, a IIl AID true statement, showing. up
to date FIRST the amount OF capital and assets Of
tie company; second the amount Of lreniums re-
ceiveG- third, the losses paid and expenses in
CURED; four, H. h., balance profit and loss; the
whole be TO and gu described By the presi-
dent aud The secretary, and ID De Published ten
times during month IN three newspapers of the
city OF New Orleans.
ARTICLE vi.
The 0et profits Of the company sea1 be appro
pTlated as follows. 10 wtt:
]. Az interest oi zen per cent shall b. paid in
cash the stockholders, at the Office OF th,
parry, from and ate the tenth day OF January Of
each year, com Uenciug in 1879, on The payments
made by them aGreeaDly to paragraphs first. Sec
ond aud third ofartice three ofths charter ard he
ba aUce OF the earnings shall be divided in fonr
equal parts three parts whereof shall be placed tn
the Reinsurance aud reserve fund" and tne ser
part shall DC paid in cash 10 the subscribers speci
Ted in The cond and third paragraphs Of arfic
three OF this charter pro rata to the amount of ther
subscription, the subscribers of the trsl category
being paid their share OF the profits, stipulated
article three OF THIS charter, By tie indoreemeDt
OF their noIes OF the amount they are entitled to-
] 2 81 500 as the credits indyIsrd on the stocs