Phenix gazette. [volume] (Alexandria [D.C.]) 1825-1833, 1832-06-06
WEDNESDAY, JUNE 6, 1882.


che establishment of Savings Fund Institution,
held at the Brooke Lodge on the 4th inst. JoNA.
THAN JAsNEY was called to the Chair, and
EDGAR SSowDEN appointed Secretary.
The Committee appointed at the last meeting
for that purpose. laid before the meeting plan
Of association and articles Of agreement for the
government Of the proposed institution. The
question being taken upon each Of the articles Sc
parately, alter consideration, the Constitution
was adopted in the words following, to wit:
Constitution of the Savings Find LnstiSafion Of
.4ierandria, u. C.
tits proposed that a voluntary Association shall
be formed. by the citizens of Alexandria, for the
purpose of receiving and investing in public stock,
Substantial security in real estate. or otherwise,
such small sums as may be saved from the earn
ings of traesmen, mechanics, labOrers and others;
and of affnrding to industrious persons the advan-
tages of security and profit. For the good gov
ernment of this Association, the subscribers have
adopted the name Of g The Alexandria Savings
Fund Society," under the following rules and
provisions:
ARTICLE /. This Institution shall be conduct
ed bv twenty-four Managers, who are hereby
constituted Trustees, to be chosen annually, by
its members, on the first Monday IN June. The
Managers shall choose one OF their number as
President, and shall have power to appoint Sc
cretary, Treasurer and such other officers as the
business may require. The seat OF any Mana
ger who shall have neglected to attend for three
successive meetings may be vacated by the Board.
and any of the officers Of the Society removed at
the pleasure Of the Board.
Article Q. The Managers shall have power
to fill up BY ballot any vacancy in their own bo-
dy or officers-two. thirds of the number present
agreeing, and no removal or appointment to take
place when less number than thirteen Managers
are present.
ARTICLE g. No emolument whatever shall be
received BY the President or Managers for their
services.
ARTICLE 4. The money deposited shall bear
an interest at a rate not exceeding Tour per
cent per annum, and shall be repaid, when re-
CURED, upon four weeks notice. with the interest
thereon to the time of such notice.
ARTICLE S. No sum less than one dollar shall
be received as a deposit, and no interest shall be
allowed on any deposits until they amount To the
SUN Of five dollars; the interest which will be
twenty cents per annum. Every additional! sum
of five dollars that NAV be lodged will bear int
rest in like manner. Interest to be calculated BY
the calendar month. No interest TO be allowed
for fractional parts of a month.
ARTICLE 6. The deposits aud payments shall
be regularly entered in the Books. and every per-
son deposting money shalt be furnished with a
duplicate of his or her account, in which every
denosit or payment shall be regularly entered as
soon as made, a. well as in the Cash Book and
Ledger kept at the office Of the Treasurer.
ARrIcLE7 The Managers shall meet at least
once iu every month, and seven shall be quo
rum. The Books, Treasurer's Accounts and all
other documents, shall be produced at every
meeting.
ARrIcLE 8. The Managers shall be at liberty
any time to refuse deposits, and, on giving one
months notice, to return such as have been made.
with interest thereon to be calculated 10 the ex'
prati0n of the notice.
ARTICLE 9. A report shall be annually prepar-
ed, under the direction of the Managers, TO be
presented TO the Members at the meeting held for
the election of a new Board, and subject to their
direction if il should b. thought necessary or pro-
per to publish the same. The said report shall
shew the whole number of depOstors on the
Books Of the Society on the first day of the month
precediDg-the number having sums OH deposit
not exceeding ten dollars each-the number not
exceeding twenty dollars EACH and the number
from twenty to fifty dollars; and so on.
ARTICLE 10 No officer, manager, or agent
shall be allowed, directly ar indirectly to borrow
any money from the Society; nor shall said So
ciety hold or purchase any notes or obligations
drawn or endorsed BY, or existing against, any
officer or agent Of the Savings Fund Society.
ARr1cLE IL The Managers or Trustees, un-
dsrtaking these duties without the expectation Of
any emoIument, and pledglng themselves to an
upright and conscientious discharge OF them,
are not to be held responsible for any losses which
may happen from whatever cause-except their
wiiful corrupt misconduct; in which case, those
Trustees only who were present and guilty oil
such misconduct shalt be answerable for the same.
ARTICLE IL. This Institution will receive do
nations for the use of religious and other benevo'
lent societies, which, with the accumulated pro:
fits, shall be paid, according to the direction Of
the donors at the time Of Withdrawing the same.
to such persons as may have the management Of
the fiscal concerns Of such societies respectively.
ARTICLE IS. The current interest due each
- Ill oil To tho pripcinal of hic