The Grange advance. [volume] (Red Wing, Minn.) 1873-1877, 1876-01-12
tinue member unless he purchase goods
from this Association to the amount of
twenty dollars per wear.

AAOI Wills 0ocUCAoUlOu " 040 oAV0Ao VI
twenty dollars per year.
: S. LIST OF xExBERs.
A correct list Of each members name,
place Of residence, post-ofice address,
and name IF Grange to which he be-
longs, shall be kept at the Office of this
Association, signed by the Secretary,
and open to the inspection of any men,
Der; and no Patron shall be deemed a
member for the purpose of receiving
any interest on his shares, or any divis-
ion of profits, or Of voting, until his
name appears on such list.
6. CAPITAL.
The capital of this Association shall
be -- dollars, and shall be raised in
shares of five dollars each, which shall
not be transferable except to members
OF this Association.
I. NUMBER OF SHARES.
No member shall hold more than one
hundred shares in the capital stock of
this Association.
8. REDUCTION OF SHARES.
Should the directors have more mon
ey on hand than they can pro6tably
invest in the business of this Associa-
ton, they shall have power to reduce
the number of shares by purchasing
such number of shares as may be neces-
sary, at the rate of five dollars per
share, together with interest thereon at
the established rate since the last divi.
dend of interest, the members having
the greatest number of shares being
the first required to sell.
9. NOTICE OF WITHDRAWAL.
Members may withdraw any sum
above twenty-five dollars on demand,
with the consent of the directors, but
shall not have the right to withdraw
more than five shares at any one time,
unless ninety days notice has been given,
and second notice shall not be given
unless the first has expired.
10. WITHDRAWAL OR EXCLUSION.
Any member may withdraw from this
Association, and any member shall be
excluded who ceases to be member Of
the Order Of Patrons of Husbandry.
IL. CAPITOL RETURNED.
Upon the withdrawal or exclusions of
any member he shall receive payment
Of capital advanced by him, with all
arrears or interest and profits, if any,
within six months after such withdrawal
or exclusion.
II. DISTRESS.
Any member being in distress may
withdraw any sum he may have in the
funds Of this Association above five dol.
lars, at the discretion of the Directors.
Ii. DECEAsE OF MEMBERS.
Upon the decease of any member the
directors may repay the legal represent
tatives of such deceased members all the
capital owned by such member at the
time of his decease, together with all
arrears of interest and dividends of
profit within six months after his de-
cease.
IA. REDUCTION OF STOCK.
The fixed stock shall be reduced as
follows, viz: ten per cent per annum on
fixtures, two and one-half per cent. on
storehouses, shall be deducted quarterly
from their value as shown in the books
of the Association.
Is. PROFITS.
The net profits of all business carried
on by said Association, after paying the
expense Of management, making the
proper reduction in value of fixed stock,
and paying the interest on the capital
thereof as aforesaid, shall from time to
time, be applied, by votes of the As.
ISOLATION at the quarterly meeting Of the
Association, either to increase the
capital or business of the Association
or for any educational or provident
purpose authorized by the Association,
and the remainder shall be divided
among those who have purchased goods
from this Association during the pre-.
ceding quarter Ito non-members one.
half the proportion Of members) in pro.
portion to the amount of purchases dur.
ing the quarter.
When member assigns share OF
shares the assignment shall be endorsed
on the back Of the certificate, and the
same shall be surrendered to the director
before u new certificate can be issued to