Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1889-05-08

AHo Dullulng committee selected for
the ensuing year is composed of Mark
Macy, Z. w. Winter and r. j. Mckay.
The auditing committee is composed
OF ID. j. Aber, H. c. Thompson and
Henry burst.
The question of approving or reject
ing the amendments to the bylaws
adopted by the board of directors dur
ing the past year, was suggested; but
the matter laid over until a special
meeting to be held May 10Th.
THE AMENDMENTS.
AT an adjourned meeting OF the asso-
citation to be held Thursday night, May
18th, the stockholders will be called on
TO approve or reject certain amendments
to the bylaws relating to Withdrawals
adopted by the board of directors last
September. The original bylaw on the
subject was as follows:
Article XIII. Sec.1. Any stakeholder who has
not pledged his stock for aSloan, wishing to
withdraw from the association, may do so by
giving one months written notice 10 the direc-
tors, when he shall be entitled to receive the
actual amount of installments paid in, less %
DER cent. from such amount and all fines due
upon his stock. But not more than one-half of
the funds in the treasury shall at any time be
subject to the demands of withdrawing MEM
bers.
AT meeting of the directors, last
September, the following amendments
to the bylaws were adopted:
l. The directors of this association may set
apart not to exceed % per cent. of the income
of said association for the purpose of paying
for stock presented for withdrawal or called in
by the directors for cancellation No other
funds of said association shall be subject to
demands of withdrawing stockholders than as
set apart in the manner provided for above
2. Stockholders desiring to withdraw from
the association shall give notice of their inten-
ton in writing and shall continue to pay in
stallments on their stock until the association
is ready to take up the same stock to be with
drawn shall be paid for in the order of notices
of withdrawal, returning to the holder all in
stallments paid thereon, with interest at the
rate of six per cent. per annum, less the
amount of all fines and assessments due on ac-
count of such stock.
| 3. The directors may call in stock of tho as
socation as they shall see fit, and for stock
er 1.-the installments paid to the association
on such stock together with 70 per cent. of the
actual earned profits ofsuch stock, less fines
| and assessments due on such stock. After the
day set for presentment for cancellations the
secretary shalln receive payments of INSTALL
ments on stock that has been called and stock
is called the secretary shall notify the holder
! of the fact and of the day set for presentment
and cancellations.
4. All bylaws in conflict with the foregoing
are hereby repealed.
Under the bylaws, these amendments
went IN effect on adoption but should
the annual meeting not approve them,
the amendments would be null and void
and the old law would govern.
The question to be decided is Shall
members be permitted to withdraw,
take out all of the money they haye paid
in and in addition six per cent. interest
on their average payments, OF shall the
old bylaw prevail? The old bylaw
gives member desiring to withdraw
Is per cent. of the amount he has paid
| IN without interest,