The patron of husbandry. (Columbus, Miss.) 1875-1883, 1880-09-04

fish and maintain general trade in merchan-
disc, farm products, and machinery, for the
mutual benefit of the shareholders and Gus
toners.
III.-OFEICE AND PLACE OF
BUSINESS.
The Office and place of business Of this
Association shall be at such place as the
Association shall designate.
IV.-MEMBERS.
Any member of the Order of Patrons Of
Husbandry, in good standing, may become
a member of this Association by subscrib-
ing and paying for at least one share there
in, ard by signing his name and place OF
residence to these rules. But NO Patron
shall continue member unless he purch
ase goods from this Association to the
amount of twenty dollars per year.
V.-LIST OF MEMBERS.
A correct list of each members name,
place of residence, post office address, and
name of Grange TO which he belongs, shall
be kept at the office of this Association,
signed by the Secretary, and open to the
inspection of any member; and no Patron
shall be deemed a member for the purpose
of receiving any interest on his shares, or
any dividend of profit, or of voting, until
VI.-CAP1TAL.
The capital of this Association shall be
- dollars, and shall be raised in shares
of$5 each, which shall not be transferable,
except to members of this Association
When member assigns a share, the as
signment shall be endorsed on the back of
the certificate, and the same shall be sur
rendered to the Directors, before a new
Cartifirata can hea issued RI tho acCiorae
VII.-NUMBER OF SHARES.
No member shall hold more than 100
shares in the capital of this Association.
VIII.-REDUCTION OF SHARES
Should the Directors have more money
on hand than they can profitably invest in
the business of the 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 IS per share
together with interest thereon at the estab-
lished rate, since the last dividend of int.
rest, the members having the greatest num-
Der of shares being the first required to sell
IX.-NOTICE OF WITHDR WAL.
Members may withdraw any sum above
$25 on demand, with the consent of the
Directors, but shall not have the right to
withdraw more thar. five shares at any one
time. unless ninety days notice has been
given, and a second notice shall not be
given until the first has expired
X-WITHDRAW WAL OR EXCLU-
SION.
Any member may withdraw from this
Association, and any member shall be ex:
cluded who ceases to be a member of the
Order OF Patrons of Husbandry.
XI.-CAPITAL RETURNED.
Upon withdrawal or exclusion of any
member, he shall receive payment of the
capital advanced by HIM, with all arrears
of interest and profits, if any, within six
months after such withdrawal or exclusion.
INDUSTRIES.
Any member being in distress may with
draw any sum he may have in the funds of
this Association, above IS, at the discretion
of the Directors.
XIII.-DECEASE OF MEMBERS.
Upon the decease of any member, the
Directors may repay, to the legal repre-
sentative of such deceased member, at the
time of his deceasc, together with all ar
rears of interest and dividends of profit,
within six months after his decease.
XIV.-REDUCTION OF STOCK.
The fixed stock shall be reduced as fol
lows. viz; 10 per cent per annum on fix
lures, az per cent on storehouses, shall be
deducted quarterly from their value, as
shown in the books of the Association.
XV.-PROFITS
The net profits of all business carried on
by said Association, after paying the ex-
penses of management, making the proper
reduction in value of fixed stock, and pay
ing the interest of the capital thereof as
aforesaid, shall from time to time be ap-
piled, by vote of the Association, at the
quarterly meeting of the Association either
TO increase the capital or business of the
Association, or any educational or provi-
dent purposes authorized by the Associa-
ton, and the remainder shall be divided
among those who have purchased goods
from this Association during the preceding
quarter ITO non members half the pro-
portion of members) in proportion to the
amount of purchases during the quarter.
XVI.-DIVISION OF PROFITS.
Each member shall receive out of the
surplus profits of the Association, after
providing Tor the expenses thereof, each
quarter, interest not exceeding eight per
cent per annum upon the capital standing
% his credit in the books of this Associa-
ton.
XVH.-OFFICERS.
The officers of this Association shall
consist Of a Chairman, Secretary, and
Treasurer, and either four, six, or eight
Directors, and either two or tour Audi
tors. The Chairman and Secretary shall
be Directors ee oHfcfo.
XVII-ELECTION OF OFFICERS.
The Chairman, Secretary, and Treas
arer, one half Of the Directors, and one