The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-06-12
ARTICLE FOURTH.


All the corporate powers of this Company shall be
vested in and exercised by the President Snperin-
tendent and Board of Directors composed OF seven
Stockholders /, GLIDING the President. Each of the
Board of Directors in order to be eligible sha! hold
in his own name at least ten shares Of the Capital
Stock of the said Company The officers of the Com
pany shall consist of President, Secretary, Super
intendent and Inspector, who shall be elected annu
ally and hold their Offices for the period of one
year. Until the first election, to be ield in the
month Of December 1875 and until their successors
shall have been duly elected and qualified d: Ne
grotto Jr shall be President, A. III. POns Vice
President; Charles Fl. Mill, Secretary D. Leubrie,
Superintendent and Dr. Charles A. Stein, Inspector
of the said Company.
following stockholders of the Company, tO-wit:
d. Negrotto Jr., Pierre Canterou, P. COutelon,
L. Merz, A. H. Pons Joseph Smith, and D. Lenbre.
The said Board shall continue in office until the
first Monday of the month of December, in the year
Eighteen hundred and Seventy.fv and until their
successors shall have been duly cleo ed and qualified.
Board Of Directors and Stockholders of the Com
pany He shall sign all policies checks and certi-
Gates, and generally do and perform all executive
the Company In case of the absence of the Presi-
dent the Vice President shall take his place act in
his stead and exercise all his powers and functions.
nance Committee It shall be the duty of the Super
intendent to transact the business Of the Company
appertaining to his department. He shall, in con.
INSPECTION of the live stock insured in his Company,
to observe their condition and tleatment He shall
report any violations of the rules OF the Company,
the Company, make careful inquiry, and ascertain
the nature and cause Of death. He shall appoint
all agents subject to the Presidents approval
1t shall be the duty of the Inspector to examine all
animals offered for insurance report their condition
and value. and in of death. the cause thereof,
aod furnish such statements to the Superb tendent
and President of the Company. The Inspector, with
the Superintendent shall make monthly ;ont in
specton of all animals insured in this company The
Inspector shall also promptly attend with medical or
surgical relief to all animals insured in the company
and which have been reported sick and render such
aid until their restoration to health.
ARTICLE FIFTH.
All assurances effected in this Company shall be
upon the basis of twOthirds value OF less, but no
insurance upon any single animal shall amount to
over one hundred and fifty dollars. There shall be
a specific amount stated upon each animal insured.
Upon the death of any live stock insured in this
Company it shall be the duty Of the owner thereof
occurring in the day. and fifteen hours, happening
1t night to the Company. The Inspector shall make
gid examination of such deceased Live Stock, in
gatng fully the cause of death whether by accl
lent natural causes cruelty fraud and no policy
holder shall demand claim or recover from said Cor
poration, any payment OF loss without hrst havihg
1btained and presented a certificate signed by the
Inspector and Superintendent, and approved by the
President of the Company.
ARTICLE SIXTH.
There shall be general meeting of the Board of
Directors the first Monday in May, September ana
January of each year. Four Directors shall constl-
tute quorum for the transaction of business.
ARTICLE SEVENTH.
It shall be the duty of the President to cause to be
prepared and published a statement of the business
Of the Company at the end of the year, which shall
contain: The amount of premiums received during
the year. the amount of losses incurred the amount
Of expenses and the net earnings Of the Company
Each fiscal year shall end on the 3lst day OF May
with the year 1876.
ARTICLE EIGHTH.
Election of Officers and Directors shall be by bal
lot and shall take place the first Monday In De-
cember in each year, commencing with the year
1875 at the office of the Company. At all elections
each stakeholder shall be entitled, either in person
by proxy to one vote each share OF the capital
stock of the Company which he she or they may re-
ypectively and hold but shall not be entitled to
vote on any stock to him. her them transferred
within three months prior to such elections. Those
persons receiving plurality Of the votes shall be
considered as duly elected.
ARTICLE NINTH.
The Board of Directors hereby empowered to
invest from time to time the profits and funds OF the
Company in bonds or in mortgages on unincumbered
and improved real estate situated in the parish OF
Orleans which said real estate shall in all cases be
worth at least double the amount loaned thereon.
They may also invest the profits of the Company In
any bonds or stocks created by and under the laws
Of the United States of this State in bends or
stocks of corporations created under State laws or
of he cit Of Orlaans and thew