The first article of the statutes of the society provided for the establishment of a central agency in Paris, other agencies in New York and in other places where the business of the company might justify such an establishment. Furthermore, it stated the purpose of the society to be the planting and promoting of a colony as explained and defined in Considerant’s book entitled _Au Texas_, published in Paris in May, 1854.[14] To carry out this purpose the society was to purchase or secure lands in all parts of the State of Texas and to transport the colonists thereto. It was also to guarantee development of the colony by collectivism or individualism, as the members might direct. The second article provided conditions of investments of capital and for the payment of dividends resulting from the operation of the society. The company was capitalized at $1,000,000 in American money, or 5,250,000 francs, and subscriptions were to be received in units of five, twenty-five, and one hundred twenty-five dollars. The subscriptions were to be divided into two groups: _actions a dividendes and actions a primé_. The former was divided into three series, to be issued each succeeding six months period and was to bear interest at the rate of four per cent. The _actions a dividendes_ were not to participate in the earnings of the society, with the exception of ten per cent of the net income, which was to be set aside to constitute a reserve fund. Provisions were made in the statutes for the appointment of an agent in Texas to be the executive officer of the organization in that state, and who would be held directly responsible to the governors of the society. Considerant accepted the proffered position and was instructed to establish himself in America, where he was to receive subscriptions and deliver bonds purchased from the society; acquire or sell in the name of the society, furniture, tools, and lands; receive payments and give quittance; agree in courts, and treat with the states for concessions, or in general to transact any and all business for the company in America. Furthermore, he agreed to give the society all concessions made by him personally while in America, thus removing any chance of criticism of the conduct of affairs by the officials. His salary was not to be less than $1,200 per year. The life of the charter of the society was to extend to December 31, 1874, with the possibility of extension of time, provided two-thirds of the bondholders present and voting declared such to be their desire. Should no extension be decided upon, the affairs of the company would be liquidated.