The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1874-04-03
uon,e.,ead BuiIdinu Association.


Homestead BuiIding Association.
At u meeting Of tho directors Of tho
Dallas Homestead Building assocla-
tlon, held this 3Oth of April, a. ID.
1874, there were present Messrs. George
w. Baylor, William G. Slckles, Har-
vey Page, l.. 9. Reed, Il. $. Gay, John
w. Wright and William Reynand.
Colonel George w. Baylor was nomi-
mated and elected president pro tenn,
and John II. Lamol was chosen tenn
p0rary secretary,
At the request Of one of the dlrec'
tors, the charter of the association was
then read by the secretary
Upon motion Of Mr.. II. s. Gay, duly
seconded, the charter was accepted ~ u
whole, Mr.. Gay then moved that the
meeting proceed, under the provisions
of the charter, to u permanent Organl'
zntlon Of tho uss0cintiOn, which mo-
ton, after delibcrati0n and discussion,
was carried unanimously.
The following gentlemen were thell
successfully nominated, and elected as
the officers of the association by accla-
nation, tO-Wit;
Colonel George W. Baylor, prcsi'
dent; Mr.. Harvey Page, vice presidents
Mr. l.. &. Becd, treasurer, and John IL.
Lam0n, secretary.
Mr.. Wright then moved that the
proceedings OF this meeting be pub.
lished In the Dallas daily HERALD and
Dallas Commercial, together with Il
brief statement of the object Of the as
socialion, compiled from the sections
and articles of The charter, which mo-
ton, after beingscconded, was adopted.
Upon motion of Mr.. Wright, II was
further resolved, that the secretary pro-
vide books for subscription to the cap
| ital stock of the association, ana that
the president designate the places
where the books are to he opened,
The motion of Mr., Ed. :. Gay, that
the president be authorized TO instruct
the secretary how to proceed until the
neXtmeeling, having been regularly
submitted, was carried ailirm0livcly.
The meeting then adjourned, subject to
the call of the president.
Books for subscription to the capital
stock of the association will be found
ut the bank of Adams n Leonard, the
City bank, the Dallas County bank,
the stores of Pierce Il Lyle, Reed u
iathrop, NJ. h. Franklin, and ut the
offices of John Henry Brown ~ Son,
Ed. :. Gay " Co., G. w. Baylor ~
Gucdry, j. ID. Kerf0ot and Castor n
Thomas.
GEORGE W. BAYLOR, President.
j. IL. LAMoT, Secretary.
BRIEF STATEMENT or THE OBJECT or
THE ASSOCIATION.
The object of this association is to
raise funds 10 be loaned among It's
members, To assist them in holding,
improving and acquiring freehold
property in the limits Of the city of
Dallas.
The capital stock shall not be less
than one hundred thousand nor more
than five hundred thousand dollars,
and shall he divided into shares of two
hundred dollars each.
The affairs of the association shall be
under the direction and control OF 0
board of eleven directors, aud the OIL
GERS of the association shall be presi-
dent, one yice-president, one treasurer,
and one secretary, and the following
shall he the directors for the first year,
George w. Baylor, +. Il. Hughes, Il.
n. Tillman, John Henry Brown, A.
Coiret, William L. Sickles, Harvey
Page, l.. G. Reed, f.. S. Gay, John w.
Wright and William Reynand.
The secretary shall give bond for the
faithful discharge of his duties In such
amount as the board of directors may
prescribe.
The treasurer shall give bond IN the
sum of not less than five thousand dol
lars for the faithful performance of his
dnties.
Each and every stakeholder, for each
and every share of stock, shall pay the
sum of one dollar per month, which
shall be due and payable on the first
Saturday of each month, until the
value of the assets of the association
shall be sufficient to divide to each and
every share the sum of two hundred
dollars. Then the association shall
cease and determine. 4
AT each regular meeting of the stock
nOluers, tne directors, through the pre-
siding officer, shall offer for loan all
funds remaining in the treasury undis-
posed of.
The funds shall be offered for loan in
sums of two hundred dollars, and the
rate of interest shall be eight per cent
per annnm, payable monthly. The
stakeholder Offering the greatest dis
count shall be entitled ~ make the
loan, and he shall have the privilege of
increasing the loan at the same rate of
discount to any sum which he is enti-
tied to borrow.
Interest on all loans shall be payable
The loan shall be secured by first
or deed Of trust on real es-
tate. The borrower shall also give
fire policy Of insurance on property In
favor of the association as additional
security.