New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1874-01-13
CORPORATIONS.



OF the independence of the United States of Amer
lea the nine tyeigh nth, before me. Ernest Eude,
notary public duly commissioned and sworn. in
and for the parish of Orleans and the city of New
Orleans, Stale 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 organization
of corporations in this state they have formed
and instituted corporation for tie purposes and
objects, and under the stipulatiols and It. Iia
tons following, to wit:
ARTICLRL
This company shall he designated and known
under the name OF the WORKINGMENS NATION
AL FIRE INSURANCE COMPANY, OF Louisiana;
its domicle shall be and is hereby fixed in the city
of New Orleans, parish of Orleans, State Of Louis
lana; it shall exist, commence business and con
time for twenty five years from this date, during
which time il will have and enjoy succession con
tract, and be sued; hold, purchase. sell and
otherwise convey all kinds Of property both real
ard personal under lis corporate name and shall
possess in general all the powers and privileges
that are given by law I" corporations Said com
pany shall use a corporate seal. the device W
which shall be a bare arm raised and holding
hammer, with the name Of the company around
absence the secretary shall he the proper officers
upon whom 10 serve citations. notices and 81!
other .s.al process against the company.
ARTICLE II.
The purposes tor which this company Is .s.ai.
ished and the nature of its business, hereby
declared TO be as follows, to wit:
J. To effect insurance against loss or damage by
fire or lightning in Louis ANA and other state, of
the Union and OF the Amer Jean continent: ]. On
dwelling houses, stores. cotton gins and al bulld
ings OF every description; D. ON ships. steamers.
steamboats,, barges and their cargoes; E. On house
hold furniture, merchandise and AZ other pro-
perty.
2. To cause itself 10 be ren.uyei i. whole or n
part with any other insurance companies against
any risks upon VIII Oh it shall have made insurance
,. To establish branch Offices and agencies IL
Louisiana and other States OF the tI..o,.
ARTICLE il.
The capital stock OF the company .ler.ey fixed
at the sum OF three hundred thousand dollars
divided into shares OF fifty dollars each said shares
shall be paid, at the option OF the subscribers ia
either OF the following inanners, TO wit J. Ten
per cent OF the amount subscribed payable in cash
a due bin at thirty days az the time OF sub
scription, and the balance in note payable il ten
years from date; said notes TO be redeemed and
finally extngui shed by the yearly credits thereon
of their pro rata of the earnings of the COMPANY
specified in article seven OF this charter. Said
notes shall be subject to such calls as NAV b, Or
dered BY Tho Board of Directors; provided that the
call. SO made shall be payable only after foItvv.
days notice, and sha not be for than zen per
cent OF the amount of the stock notes at any one
time :. Or She whole amount subscribed payable
in cash or its equivalent liz real estate public
securities AT their actual cash value: said sub
scribeys to be allowed tw. MY ent discount
th~ir subscriptions J. Or the whole amount sub
sciib-d to De paid IN cal. notes secured H.: pledge
public or rea estate securities said subscribers
10 be- allowed ten per cent discount on their sub
tons. and said securities to be accepted in gua,an
tee at the rate OF only sixtythree and ohe-third
per cent 81 their actual cash vans, provided that
all subscriptions Of - above second and third
categories shall BE- submitted to and accented l.y
the finance committee before ths Y can i- received
and certified tes o: stock issued. The following
curtie. shall! be receivable as cash III payment of
or guarantee tor Tie payment OF Subscriptions
mentioned in paragraphs Nv" and :tree OF :is
article. 20 vii: Country and city rea. estate
incumbtrel. frs. mortgage note. bonds. stocks.
Ievee AMI Land scrip OF the United States and Of the
State Of L"Ueiara Or any other STATE OF Vie Union.
and OF solvent railroad bank cana and navigation
companies Incorporated by SPECIAL laws OF The
United States, The state OF Lon s'ana. auy State
OF the Union. Subscribers sia have tie p,iyileg.
10, at time, alter il. wilee IL par: .h.jc
original mode III subscription. The capital stock
Of The company may b. increased 20 lie sun OF
five humid cd thousand dollars nlrusv.: TIE Io..G
OF Directors 'Nay deem proper to..cst.
ARTICLE *.
The stakeholder. slsl! never Ie i:.i'- :or ~.
losses .: til. ccrupaHy in ans larger su,s THAI.
amoi.1l: !. lna.!l.... due on th..: .!v.. votes.
ARTICLE
Certificate Of stock .hal! b. on .,.... .,i.r
full pad. AID trans OF stoc. .1a r I'd. ONLY
on the books OF the company a: Is a.4cs. Ne"
ARTICLE ".
On The Thursday srece'in: ;fe 49, Saturday ~
December Of each year. commencing. on tie yea,
1874 there shall be made IrO,n II. book OF .!e
company. !U! and tru- statement. showing. ~
to date: Fist. the amount Vi capital and assets ~
the company: second. the amour: OF ". nlun.
ceived: .hird. the losses pad and expense. in
cured fourth. the balance =: 'Iof' ans: loss :ne
whole to be sworn 70 and subscribed h." ne presi.
den: and the secretary. and :" ~ ru'.l,isi ten
tunes during one month IL ihIt. q: tue
city et New Orleans.
ARTICLE 80.
The ret profits az She COMPANY 80: :. .::ro !
prlated as follows, to WIZ:
]. An interest of ten per c.;c s,at BE- pals. il; |
cash TO the stockholders at The .iii.. q: The
uany. from and after the zenith day Q: January Of
each wear. commencing il! 1855, On slIe uay.nenfs |
made Nv them. agreeablN 70 paragraph. tr,., zee. !
ond and third o:rtiele three OF .'ait.r and The
balance of 'h- earnings shal. !. III, .,eI III four
equal parts three parts whele"t sal! ae paced {"
TIE Reinsurance and reserve fund auI Tn. other
part shall he paid IN cash th. ssc. bers .peci.
lied IN the cond and third a,agrapLs .! article.
three OF This charter pro r. 70 Il. amount OF Their
eubsc ION, the ssbscy bers -: she ,-i category
being pad their share o. the profits s'ipUl..e.!
article three of this charter. by the Endorsement
on their notes 81 the amoun. they are.nti:.a to.
2 So the credits inGol sd the stock
notes OF the -Uhscribers of the first category OF
tcle three sha.' Iav- become equal in amour: I"
their face. sum suticien: to MAINTAIN. .ne rein.
600 shah be taken from the profits OF tie company
and placed III sad funt. and the entire Ia.a.ce
ss.l! be PAL! j. cash to the stockholders
ARTICLE VIII.
The affairs Of rfle company .la; BE a'mi.;....-
by a boald Of twelve directors. who sia. Sc sc.
lected from among the stockholders h.ldil. no:
less than fifteen shares in their own name. Tney
shall bs elected at meeting OF sh- stockholders
tor that purpose. AZ the office of lie
on .he last saturday OF december of
every alternate year. from and after December.
1875, after advertisement for ten days III three
Aew spaprrs published al the city OF New Orleans.
At said meeting ana at all elections sac! stuc k.
holder shall be entitled 20 one vote 10. each ana
every share oc stock he shall hold il. his
or by proxy. All elections .hai. BE- supervised. and
their result declared by three commas ioneTs
pointed by the Board Of Directors from among TIE
stockholders. The members of The boar. .iIall
take their seats the Monday following tIe elec.
ton. ard shah then elect the president. pres.
denr. 'he gen neral manage an! She secretary ~
the company. The first three named officer. to be
selected from the Board of Directors. and =. four
OF them 20 hold their seats, together with the d.
rectors until the next election, and until Others
qualified to act IN their stead unless 'hev be
removed, after Impeachment aud tral by .cte
Of fwo-thirds of the entire board. Tt. superir.
teDdent OF agencies and such other .ler rs and
poyes as may be deemed necessary shall he az.
pointed by the president. with the consent OF the
board. and shall be removable a. their pleasure. !
The Board Of Directors shall FIX Iii. salaries =, all
the officers and employees o. The .oluiiany and
necessary for the administration OF -. affairs
the COMPANY, provided said by laws shall no: lie
contrary to the stlulatcAs of this charter or :he
laws OF this State. The board NAV ase delegate |
such powers II. tfe transaction Of the ordinary |
business OF the company |" committee. q! their
own body to Their officer. ...iG ..s,ts IS
they Et1s deem eX YeGl.I-.
ARTICLE *.
The pre-. dent. in n. absence az i.i"a'.aci'r.
h. president. shall preside al o.! w.ri IS of
TN. board b. shall supervise al the bsine., III.
company - nera'lr. ar. So. that Oh. requirements
Of this charter, the bylaw. %: NE. coInparr and
The orders and resolution. o. ~. board he faith.
'uly carried out. The general manage .-al =.
he active executive officer OF the co'n.auy: il.
shall have the control uf all agents. yeIlr'.. and
branch offices, and shall attend "a al the Ere a.i-
ness 1f the company under the Supervision OF tie I
president and Board ~: Directors. The cfetary
shall perform al III. u'it. usually apr.rtaiI NJ
said office. The superintendent of agencies shall
nav. charge OF me branch Offices agenci.s and
Louisiana 'lnder the supervision o: the president
and general manager. Tie at..s of -. ntl.:
Dlo' shall be regulated by til. president and the
lOard All policies. cert icates OF stn.s cOynns.