New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1874-01-03
( 'HARTER s......sSHARTER.

The slonth of Septem ber i'll the year of our Lord
one thousand eight hundred and seventy three, and
81 the Independence of the United States of Amer
/, leo the ninet yeighth before me, Ernest Eude, a
notary public duly commissioned and sworn. in
and for the parish of Orleans and the city of Nee
Orleans Stale OF Louisiana, residing in said city,
and i'll presence of tho witnesses hereinafter
named and undersigned, personally came and ap
peared the parties whose names are 9ereunto sub
scrioed, who declared that, awaiting themselves of
tie 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 the parposes and
objects, ana under the sti2ulstions anS seSIlS
SSns &oelovlnG to wit
ARTICLES,
96io company sha be d@signatee ana Known
endeg the name OF the WORK1NGMENS SATIOs
AZ FIRE INSURANCE. COnPANY of Louisiana;
OF New Orleans parish of Orleans, State of Lone
issnai it shall exist, commence business and con
ejnue for twenty five years from this date, dioiDg
which time it will have and enjoy succession, con
sgacs cue and be sueG, hold, purchase sell end
otherwise convey all kinds OF property, both rec
and personal, under its corporate name, and shall
possess is general all the powers and privileges
thas are given by law to corporations. Said com
pany shall use corporate seal, he de vice uUon
which shall be bare arm raised and holding a
badnmes, with the of she company around
10 The president or the vice president or 10 their
absence the secretary, shall be She propeF iOsTs
upoe ashon 90 serve citaeiono, notices cad 90
oe4es Gsol 8ssGcess against else sanpS1Bs
sRTICIE 70
Sne Sugpeaes zoe which shis csenpsay 10 pstss-
lished, and the nature of its business. G~gsby
declared to be as follows, to wit:
g. goetisct insurance aganss LOSE oe damage ~
fire or lightning in louisiana and Gther STAKES of
ehe onion, and OF the American continent: J. ON
dwelling houses, stores. cotton gins an@ all sull1
jngs of every description; 2. en- ships, steamers
steamboats,, barges and their cargoos; 3. Dn house
hole sSraituSes merchandise Sn& 81. SshsY gro
pertvo
pare. wIeh any other insurance companies scsuss
any aisks upon VIII Oh it shall have made insurance.
3. f6 establish branch offices and AS.Gcsss .
Soe-siana and 4sher States ofthe onion.
aRTICLE He
gbo capital stock of the companS isfsrsbs s zsa
at che sum of three hundred Thousand sloars,
divde@ into shares of fifty dollars each. Said shares
shall be paid, at the option OF the subscribers in
either of the following manners, to wit: I. Ten
per cent OF the amount subscribed payable in cash
due bill at thirty days, at the time of sub
scrptiOn ard the balance in note payable in ten
years from date; said notes to he redeemed arc
finally sxtingusbed 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 may be
Sered by the Board of Directors; provided. that the
cas made shall be payable only after fort five
days notice and shall not be Tor than ten pee
cent of the amount of the stock notes at any one
time. 3. Dr the whole amount subscribed payable
N cash or its equivalent i'll real estate or public
securities at their actual cash value sai0 sub
sea a6rs TO be allowed twenty per cent discount
5heir subscriptions 3. Or the whole amount sue
scribed to be paid IN call notes secured by 9ledge
Oh pueic real estate securities; said subscribers
Se allowed ten ger cent siis0unt their sub
ssns and said securities TO be accepted in guaran-
9sss at the rate Of only sixty-thse and one-th1N
ger Gems OF their actual cash salus; prevideS that
all SUBSCRIPTIONS of T. above second and third
categories shall be submitted - and acceptse by
She finance committee before tlsy can BE- recesed
;snd certificates of stock issued. Tbs following
cuei9@s shall be receivable as cass III sayment Nf
90 guarantee tor the payment of subscriptions
,nentisned in paragraphs two and three Of this
astole, go wit: Country ard city real escate
9ncu III fssrsd, first mortgage notes bonds stocks.
woe AMI land scrip of the Unsd States anS OF the
etaIs- OF Louis1la, or any sther Sac OF the Union,
and OF soisets railioad, bank canal ane nav cation
companies Incorporated by special laws of the
Emitted States the State &c Louisiana or ely State
OF che Union. subscribers shall have the privilege
to. at any time alter in whole in part their
original mode Of subscription. The capital stock
of the company may be increased TO the SUM of
ys hundred thousan,s dolla IS wheneves the Board
aS Sireeaors may deem proper to dc TO
ARTICLE ~.
She Stockholders shall never ae 2isss eoe One
oss--o 0e the company in anv larger suris tsS To
Slou0S SO alsaising alue on their 9toeS g@t"ss
SRT1CLE q
oseejS,oases ne sock shall be Gale issus5 chen
eysI paid. and trans OF stock stall TO made only
cn the BOOKS 81 the eompanS, at ito etfos, III Ne .
erlesaso
ON Sic Thursday preceding ihe 9ae& Saturday in
Desembe6 Of each wear commencing on the year
.81e there shall be made IRON the books the
company, iull and true statement, showing. up
90 date First the amount of capital and assets of
Sssived third, he losses paid and expenses in
CURED; four h. the balance OF prof. and loss the
don't and the secretary, and to De published ten
times during one month IN three nSwspaS'os OF the
ARTICLE gIf
Fhe 9eS pros.ts of the compass x o. - esSro
pr ated ss follows. tie wit:
J. Az interest of I@r sS.e seSs - PAID IA
gash 60 the stockholders, at che oticeGe Shc
pens srsin and after the tensh clay Of January ss
each year, commencing in 1879 on the 9aymente
made by them agrcs ably 20 paragraph firss
ons sd third ofartcle three of this chartes eS 10
balance OF the earnings shall be divided in sOur
equal parts three parts whereof shah be placed ee
tic reinsurance and reserve fund" and the other
part shall be paid i'll cash to the subscTbess speci
ted in he st cond and third paragraphs OF article
three Of this charter pro rata to the amount OF their
subscription, the subscribers of the first category
being pa. their share Of the profits as lpu!ated
article three of thus charter by the Endorsement
on their notes OF the amount they entitled to.
2. 20 soon az the credits indoIs ed the stock
of the subscribers of the first category of ar
ticle three shall have become equal in amount TO
their face, sum sufficient to maintain the rein
surance and reserve furd to the standard of 800
900 shall be taken from the profits of the company
and placed in said fund, and the entire balance
shall be paid IN cash to The stockholders.
ARTICLE VIII.
The affairs of the company shall be administered
by board of twelve directors, who shall be &c.
lrcted from among the stockholders holding not
less than fifteen shares in their own name. They
shall De elected at meeting of the stockholders
convened for that purpose, at the Office of the
company on the last Saturday of December of
every alternate year, from and after December,
1875, after advertisement for ten DAYS in three
ne spapers published in the city of New Orleans.
At said meeting and at all elections each stock
holder shall be entitled to one vote for each and
every share of stock he shall hold in his own name
or by proxy. All elections shall be supervised and
their result declared by three commissioners ap-
pointed by the Board of Directors from among the
stockholders The members of the board shall
take their seats the Monday following the cleo
ton and shall then elect the president wee presi-
dent, the general manager and the secretary of
the company. The first three named off GERS to be