The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1872-04-06
Annual Meeting of tho Elkton Building

of the Society was discussed at the january
meeting of the Society, and postponed for
final action to the annual meeting. COM
mittee had been appointed by the Direc-
tors to prepare n report and amendments
to the Bylaws at previous meeting,
which. after careful examination of the
laws and practices governing building
Societies in Pennsylvania, where they are
regulated by statute, and where more ex-
perierce has been had than perhaps in any
other State Of the working of Building
Societies, the committee reported the fol-
lowing amendments. There was much
opposition manifested by the members to
these amendments, which we think was
mainly owing to q want of time to give the
proposed amendments careful examina-
ton. These sections will be brought up at
the next meeting, and we hope that every
member will have carefully examined them
and be prepared to vote Understandings
on their disposition:
Section ? of Article 13.-Any stakeholder
who has not received 4 loan may withdraw
from the association by giving notice to the
Board of Directors, when he shall be enti-
tied to receive the amount of monthly dues
actually paid i'll Oh his or her shares, to-
gether with % per cent. interest upon the
amount of dues paid in upon the shares of
the said withdrawing stakeholder, if he
withdraws at the meeting in February 1872,
with an additional one per cent for every
succeeding month until the expiration Of
the Society.
Section Of Article IA borrower may
repay his loan at any time, and in case of
the repayment thereof before the expira-
ton of the eighth year of the organization
of the corporation, there shall be refunded
to him one-eighth of the premium paid for
every year of said eight years then uuex-
pired, and the stock on which the loan was
made shall at the option of the particular
stockholder, be received in whole or part
payment thereof at its withdI avail value.
Some changes to suit the time will be
necessary in the wording Of the amend
ments, but the principle they embrace is so
obviously just, that when understood we
can't conceive that there will be a dissent
ing voice to their adoption. The State law
Of Pennsylvania requires such provisions
to be embodied in the constitution and by
laws of all building societies of that State,
and we believe that equity would compel
it before any court in any State, and it is
much better for the Society to anticipate
such probabilities and amend its laws to
conform to Justice. A member or his heirs
may be compelled to withdraw and to re-
ceive no share of the profits or not even
the interest on the money he has paid in
would be SO evidently unjust as to admit
Of no palliation OF excuse.
Money is beginning to sell at compare
lively low premiums, owing to the dimin-
ishing number of bidders, and it would be
more profitable to the Society for men,
Der to withdraw on the terms here propos-
ed, than to borrow at ten per cent. pre-
MUM, a rate, if not lower, that is likely to
be very common in the future.
Stealing Curb StOnes.-This is an origi-
nal caption for a newspaper article, our
readers will doubtless say, but original sub
iects require original titles. The past year
and the present so far, have been famous
for investigations into political corruptions,
and the unmasking of ':Rings" and laying
bare of official theft. The people, by a
kind of sympathetic impulse, everywhere,
rose against political theivery, and those
gentry have been brought to grief in all
parts of the country. Some have gone to
the penitentiary to atone for betraying the
trust reposed in them by confiding constit-
uents. Others, when they found the NOR
al atmosphere getting too hot for comfort,
have emigrated or migrated to cooler
chimes, like the birds of passage; but thou
sands still maintain their ground, and con-
tinue in there old practices. Corporation
stealing has grown especially notorious, and
seems to he epidemic. Where the public
purse has been ample, there gentry have
contents to their individual pockets. But
where this evil "root" was of delicate
growth, the mania has prompted to appro-
pirate something in its stead. We have
even heard of hot stoves being in danger,
when some unfortunate monomanac for
appropriating others property, was about,
but it has been left for Elkton to witness
the appropriation of curb stones. Port
Deposit granite is the heaviest and hardest
in the world, but it proved neither too hard
or heavy for our Town Commissioners.
In about three weeks the official life of
the Board expires, and what ever else is to
be got, must be got quickly. After a care
full investigation, there appears to have
been nothing left in the Elkton treasury
but part of twelve hundred dollar lot of
curb stones, purchased by the present
Board of what is termed Town Commits
sioners, of McClenahan & Bro. on the faith
Of the tax that is to be raised principally
next year. Every thing else having been
cleaned out, the Board attacked the curb
stones. No. took his hundred and odd
feet, No. 9, do, No. 8, do, No. 4, do, etc,
till the pile of granite was disposed Of
But what use a curb stone would be to any
one who had no paving to do, would puzzle
Philadelphia Lawyer to tell. But
our Commissioners were equal to the emer-
gency. Having lots on Back street they
hauled the treasure round there, the town
paying for the hauling, and like the un-
profitable stewart in the parable, who bur-
led his talent in the earth, they buried this
granite treasure.
A very large per cent. of the cusbirg on
Main street did not cost, independent of
the hauling, one-sixth of what this dressed
curbing cost, but there is very comtorta-
BILE side walk, which accommodates the
entire population, without crOwding, in
the business part of the town. What ben
eft this costly curbing will be to the Town
Commissioners, when they have carried it
Oft and got it safely buried-at the ex-
pense of the town, tools profound puz-
zle.
There will be an election the first Mon
day in May for a new Board of Town Com
missoners, and we advise the taxpayers
to pay no attention to the matter, but stay
at hon.a aud have similar Board elected