The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1877-03-02
LYON COUNTY COOPERATIVE AS
ISOLATION.
The Rules and Regulations adopted.

LYON COUNTY COOPERATIVE AS
ISOLATION.
The Rules and Regulations Adopted
A meeting of Patrons Of Husbandry OF
Lyon count; was held at Grange Hall in
this city, on Saturday, Feb. 18th, to take
steps to organize the Patrons CO-opera-
tive Association in this county.
After some preliminary steps, the meet
ing adjourned until Saturday last, Feb.
cath, at which time an organisation was
effected, and the articles of Association
published below were adopted:
RULE NAME.
This Association shall be called the
Lyon County Cooperative Association
number 6l3 Of the order of z. of ii. in
the State Of Kansas.
2-oRJEcT.
The object of this Association is to es-
tablish and maintain general trade in
merchandise, farm products and machin-
cry for the mutual benefit of share-hold-
Crs and customers.
3-PLACE OF BUSINESS.
The office and place of business of this
Association shall be at Emporia, Kansas.
4-MEMBERs.
ANY member of the order of 2. of 81. in
good standing, anu any sub-Grange may
become q member Of this Association by
subscribing for and paying up at least
one share thefein, and by signing his or
her name and place Of residence to these
rules. But no Patron except sub-Grang-
es and single persons shall continue a
member unless he purchase goods from
the Association to the amount Of twenty
dollars per year.
6-LIsT OF MEMBERS.
A correct list of each members name,
place Of residence, post office address, and
number OF Grange TO which he or she be.
longs shall be Kept at the office OF this
Association, signed by the secretary an
open to the inspection Of any member, and
NO Patron shall be deemed a member for
the purpose ofreceiving any interest on
bis shares. or any divisions OF profits, or
Of voting, until his or her name ppears
on such list.
6-CAPITAL.
The capital stock of this Association
shall be 500 900 (tWenty thousand dol
lars }, and shall be raised In shares Of five
dollars each, which shall not be transfer
able except to memuers OF this AssOcia-
item.
7-NO. OF SHARES.
No member shall hold more than one
hundred shares In the capital of this As
sociatlOn.
Should the directors have more money
on hand than they can posi- bly, invest in
the business of this Association, they
shall have power to reduce the number of
shares by purchasing such number of
shares as may be necessary at the rate Of
five dollars per share, together with in
terest thereon at the established rate since
the last dividend Of interest. The MEN,
bers 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 one time, unless ninety
days notice has been given, and q second
notice shall not be given until the first has
expired.
10-wITHDRAwAL OR EXCLUSION.
ANY member may withdraw from this
cluded who ce Ises t. be member OF the
order ofP. of II.
1l-CAPITAL RETURNED.
Upon the withdrawal or exclusion OF
any member he shall receive payment of
the capital advanced by him, with all ar
rears of interest and profits, If ANY, with
in six months after such withdrawal or
exclusion.
12-DIsTREss.
Any member being in distress may
withdraw any sum he or she may have in
the funds of this Association above five
dollars, at the discretion of the directors.
13-DECEAsE OF MEMBERS.
Upon the decease of any member the d.
rectors may repay to the legal representa-
tives of such deceased members all the
capital owned by such member at the
time of his or her decease together with all
arrears of interest aud dividends OF prof.
its within six months after his or her de-
cease.
14-REDUCTIoNs OF STOCK.
The fixed stock shall be reduced as fol-
lows. viz: Ten per cent. per annum on
fixtures, and two and half per cent. (21<)
! on store houses shall be deducted quar-
| terly from their value as shown in the
books OF the Association.
15--PRoFITs.
The net profits of all business carried
on by said Association after paving the
expenses 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 vote of the Associa-
| ton at the quarterly meeting of the Asso-
ciaLIon, either to increase the capital or
business of the Association, or fer any
educational or provident purposes author
| ICED by the Association, and the remain
der shall be divided among the members
| of the order Of p. of 81. who have pdr-
ing the preceding quarter IN proportion
to the amount of purchases SO made.
16-AssIGNMENT.
When a member assigns a share or
| shares, the assignment shall be endorsed
on the back of the certificates, and the
same shall be surrendered TO the direc-
tors before 8 new certificate can be issued
to the assignee.
1T-INTEREsT ON STOCK.
,k-A .oai e . h.
surplus profits of the Association, after
providing for expenses thereof in each
| quarter, interest not exceeding twelve
| (12) per cent. per aDnum upon the capital
| standing to his or her credit on The books
| OF the Association, as Is declared quar3er-
| ly at the meeting Of the Association.
1S-oFFICIAL BOARD.
The officers of this Association shall
consist OF Chairman, Secretary, Treasu-
rer, seven Directors ard three Auditors.
The Chairman and Secretary shall be d.
| rectors eX-officiO.
19-ELEcTIoNs.
The Chairman, Secretary, Treasurer.
and four Directors, and two Auditors
| shall be elected at the quarterly meeting
| in January, or at the next regular meet
| ing thereafter, and the remainder at the
| quarterly meeting in July, or at the next
| regular meeting thereafter, and shall hold
their several offices for one year and until
| luctE BuCcCSSOES arc clCCIeu Anu
ALI elections ehall be by ballot.
20--KLIGIBILITY.
No member shall be eligible to the office
| of director excepting at the first and Sec
ond election after the organization, who
has not been q member six (6) months,
and no member shall be eligible for the
| office Of chairman CATER the first cleo
tiOn) who has not been q director in the
Association.
2I-VACANCIES.
| All vacancies shall de filled temporari-
| ly by the directors until the next regular
meeting, when such vacancies shall be
filled by the Association.
22-MANAGEMENT OF BUSINESS.
The directors shall have the general
management and supervision Of the bust
| ness of the Ass ociaIioR; shall appoint the
statesmen and ether employees, ands hall
assign to them such duties and compensa-
ton as the directors may think lit.