The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1872-05-17

the Association and each member. He
shall draw and sign all orders upon the
Treasury, and shall at all times give to
the members any desired information
relating to the affairs of the Associa-
ton, and make n full report ef the
same at each first regular meeting in
June, September, December and March
of each year. He shall deliver to his
successor in Office, upon demand, all
property of the Association in his
charge, and shall receive IS eompeHsa-
ton for his services sum not exceed
ing two dollars per week, to be paid
every three months out OF the general
fund. 5I
ARTICLE XIV.
The Attorney shall draw all bonds
and mortgages given to the Associa-
ton, see that they are properly record
ed examine the titles of property Of
fered for security for loans; make the
necessary tax searches, and notify the
Board of Directors of any liens, in
cumbrances, or defect of titles. He
shall receive as compensation fixed
fees 20 be regulated by the Association.
He shall hold no other Office in the As
ISOLATION.
ARTICLE XVI.
The regular meetings of the Associa-
ton shall be held every Monday even
ing in the City of Emporia, at such
place and time as the Bylaws may
direct. Special meetings may be cali
ed by the President upon the written
request of fifteen members of the As
ISOLATION, or ola majority of the Board
of Directors. Fifteen members shall
constitute quorum for the transac-
ton of business.
ARTICLE XVII.
4 registering fee of twenty-five
cents shall be paid upon each share.
The weekly fnstallments upon each
share shall be due and payable from
the date OF the first regular meeting.
ARTICLE XVIII.
When any member desires to return
to the Association one or more unloan-
ed shares, and withdraw the INSTALL
ments he has paid upon the same, he
may do SO by serving a written notice
upon the Board of Directors. The
Board shall thereupon cancel his own
ership of said share and give him an
order upon the Treasury for the
amount of such installments with in
terest at six per cent. per annum, less
any unpaid assessments lines or other
dues owed upon said share.
t.t. f ARTICLE XIX.
When any mortgagor desires to re-
turn loan, lie may do so by serving a
written notice upon the Board of Di-
rectors, and paying to the Treasurer
the amount of money he received as
said loan, and all unpaid dues upon
the same. The Board of Directors shall
thereupon cancel the mortgage. Or
loan may be reduced by being re-
turned in one or more shares at a
time, as above.
ARTICLE XXX.
All assessments, interest or other
dues shall be payable at each regular
meeting. Any member neglecting to
pay his weekly dues, shall pay for
such neglect n fine OF five cents per
share for the first week, 10 cents per
share the second week, 10 cents per
share the third week, 90 cents per
share the fourth week, % cents per
share the fifth week, and foreach week
thereafter % cents per share.
ARTICLE XXI.
When the fines accruing upon any
one share shall amount to the sum OF
the payments previously made on such
share, then such share, with all its
privileges and claims, shall be forfeit
ed to the Association.
ARTICLE xxi.
Any member having received loan
from the Association and neglecting
to pay the weekly. dues thereon, shall
pay = fine of 8 cents per share for each
such neglect. If the weekly install
men.s, interest and fines on such loan
remain unpaid for two months, the
Board of Directors shall proceed to
enforce the mortgage according to law.
ARTICLE XIII.
Any member failing to pay his dues
upon the roll is called at each regular
meeting, shall pay fine OF cents.
No member in arrears for dues of any
kind can vote or bid for loan.
ARTICLE XIV.
Any member may assign one OIL
more Of his shares to any other mem
Der, the purchaser to pay a registering
fee of 90 cents, or to persons not mem
bers, in which case the purchaser shall
become member, and pay a Tegister-
ing fee of 81. Ali transfers must be
made by giving notice to the Secre-
tary, who shall make the proper entry
upon the books.
ARTICLE XIV.
Every officer absent from any meet
ing. shall pay fine of 10 cents. nm
less excused by reason of sickness OIL
absence from the city. For neglect to
produce books or Important papers OF
the Association, at any meeting where
they are needed, the officer concerned
shall pay fine. of 81.
ARTICLE XVI
Every male member neglecting 10
attend the setni-annual election shall
pay fine of 80 cents, unless excused
by reason of sickness or absence from
the city. ~ -'-a,
''.@95E 1870 ART. XVII. p
Any propositions to alter or amend
this Constitution shall be offered in
writing at Il regular meeting, it shall
then lie on thetable until the next reg
hlar meeting, when it may be acted
upon and adopted by p vote of all
the members of the Association.
ART. XVIII.
The Association may adopt such By.
Laws and rules as may DC necessary
for the carrying out of the object oil
this Association, in accordance with
the provisions of this Constitution
Such Bylaws may be suspended OF
altered a any regular meeting by q
vote of all the members present.
A brief recapitulation of some
points may be here added. The
persons who expect to receive di-
rect benefits may. be divided into
two elasses--they who use the Assoc
citation simply as place OF deposit,
in order to receive, a high rate OF
interest, and those who expect to
borrow from it on long time and at
moderate rate of interest. Each
is safe. The. depositor can at any
time, for any reason, Withdraw all
his depo sits, and retire. The bor-
rover, can at any time return his
loan, andif he chooses, also retire.
It does not t'stick" any person, al
though its influence upon them is
to induce them to become or remain
permanent residents when other
wise they might be migratory. -
1t is an honest and really mutual
benefit association, With compe-
tent attorney and directors, the
chances for fraud or loss are SO
slight that no person will enter it
with a reasonable hope of obtain
ing any unfair advantage over his
fellow GleRheFs, or q fear of loss.
There is practically, no shanOe to
.sgobble," and people who desire 10
do SO: will have no inducements to
take stock, and seldom do. All the
workings are under the direct and
constant supervision of the stock
holders, and an average supply of
intelligence and attention on their
part has in the history of these or
CARNATIONS, universally insured hon
est and successful management.
-. p.