The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-06-19
CHARTER.

Bendernage notary public in and for the parish OF
sss aa duly bsrs
matter named and undersigned
Personally came and appeared sDospc anferon
Paul ROusset, Charles H. Mil, Lawrence MeIz, val
entine Fabian Charles A. Stein, Patrick Cark bar
w Salisbury. Andrew Pons Charles q. Ni a. Tar
letter Of attorney dated sixth May, 1875 hereunto
attached all Of this city
the rights and privileges conferred by the laws OF
this State relative to the organization OF corpora
TONS they have formed and organized ana Dy tnese
presents do form themselves into ana constituoe
corporation for the objects and purposes ana unael
the stipuiations regulations and obligations follow
ing, to-wit: .nr,c,r rrPsT
The name and title Of said corporation shall be the
ITPINI,E COMPANY OF NEW ORLEANS
and its domicile shall be in the city Of New Orleans
State Of Louisiana 1t shall exist or Inc perioa %
shall have power and authority to contract sue ana
he eued in its corporate name All citations. notices
or other legal process wherein the sad company may
aid com. any. The seal Of said corporation shall
have for its device the picture OF horse with the
motto "Benevolence underneath enclrc Ices sna,'
surance Company of New Orleans. La.
ARTICLE SECOND.
The objects and purposes for which said corpora
ton is established and the nature of the business to
be carried on are hereby declared to be:
First-To make insurance upon horses, mules,
cows and other live stock.
Secondly-To indemnify the owners of such live
stock who have effected insurance in said company
against any loss Of said live stock either by accident
= Thirdly-To secure better care and attention to
working stock. :. ~
Fourthly-To give medical or surgical relei 10 all
live stsck insured in the company
i3 ARTICLE THIRD.
Tho Capital Stock Of said Company is hereby fixed
at Twenty-Five Thousand Dollars, divided into
twenty i've hundred shares OF Ten Dollars each
with the privilege of Incl easing said capital stock 20
Fifty Thousand Dollars The Company Is hereby eI
Thousand dollars Of its capital stock shan nave peen
subscribed and the requisites Of the law complied
Ths e 5ss eentum IL cash and
the balance each subscriber shall furnish his proms,
sory note PAYABLE on the prst day Of May 1876 said
sSoSd sna the Board Il deem the
sary. No stOckhclder shall in any event De made
liable for larger amount than the unpaid balance
or their Indebtedness to the Company. Subscribers
NAV ct any time pay up the full amount OF their
subscriptions in cash in which event interest as
herein after pevided shall attach to such subscrip
tions from tho date that such full payments shall
have been made. All transfers of stock shall be
made on the books Of the Company at its office only
Transferees OF stock not fully paid up shall assume
all Indebtedness thereon and the same shall be ap-
proved by the Board Of Directors Upon the failure
Of any stockholder to comply with the Gals made
upon him the stock owned by such holder, with
al The accumalations thereon, shall be liable to for.
fixture to the Company by vote OF the Board OF
Directors to that effect provided that tne BOARD OF
Directors may extend said payment for such time as
they may deem proper, or the Company may 81 force
the payment thereof .
An interest dividend of ten per cent on the amount
paid in shall be payable annually the first Monday
II Nav Of each year. commencing with the year 1c76;
the profit remaining to the company shall be a. pro
4
of ten per cent shall be payable to the
on the If paid up stock and the balance shall be d
vded pro rata amongst the policy holders OF Inc
loans and Investments shall also be placed in the
Reserve Fund" No payments of losses shall be
made out of ths Reserve Fund unless all other
funds Of the company excepting the capital stock
shall have been exhausted.
ARTICLE FOURTH.
vested ip AMI exercised by the President Superin-
tendent and Board Of Directors composed of seven
Stockholders i, Guiding the President. Each OF the
Board of DreC rs in order to be eligible, shall 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
ally ard hold their offices for the period Of one
year. Until the first election to be held in the
month Of December 1875 and until their successors
grotto. Jr., shall be- President A. H. Pons Vice
President: Charles II. MIL Secretary D. Leubrie,
Superintendent and Dr.. Charles A. Stein, Inspector
The first Boar. Of Directors shall consist of the
following stockholders of the Company, to wit:
D. Negrotto, Jr., Pierre Canterou F. Coutelon,
L. Merz A. II. Pons Joseph Smith, and d. Lenbr e.
The said Board shall continue in office until the
first Monday of the month Of December in the year
Eighteen hundred and Seventy five, and until Their
successors shall have been duly cleo ed and qualified.
The President shall preside at all meetings OF the
Board Of Directors and Stockholders Of the Com
pany. He shall sign all Policies checks and certifi-
Gates and generally do and perform all executive
acts required for the transaction of the business OF
the Company In case of the absence of the Presi-
dent the Vice President shall take his place act IN
his stead and exei else all his powers and functions
The Vice President shall be the Chairman Of the Fl
nance Committee. 1t shall be the duty Of the Super
intendent to transact the business OF tne company
junction with the Inspector make monthly tour OF
inspection of the live stock insured in his Company
to observe their condition and tt eatment He shall
report any violations of the rules Of the Company
and shall upon the death of any animal insured by
the Company, make careful inquiry, and ascertain
ali agents subject to the Presidents approval.
It 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
ard 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 OF
surgical relief to all animals insured In the company
and which have been reported SICK and render such
aid until their restoration to health. .
i ARTICLE FIFTH.
All insurances effected in this Company shall be
unOn the basis of twOthirds value or less, but nc
insurance upon any single animal shall amount to
over one hundred and fifty dollars. There shall be
specific amount stated upon each animal insured
Upon the desth of any live stock insured in this
Company 1t shall be the duty Of the owner thereof
to give immediate notice mot exceeding I'VE hours
at nj chtl to the COMPANY The Inspector shall make