The San Francisco call., 1897-10-26

tive committee OF five to be elected by the
subscribers hereto, to serve during the term
mentioned above, 10 wit, till December 81.
1900 Said executive committee shall be
elected at a meeting of said su bscribers to be
called by q majority in amount of said sub
scribers. and notice OF which meeting shall be
given to each and all of said subscribers.
Semi-annual meetings of subscribers shall be
held on the second Tuesday of October and
the second Tuesday of April OF each year at q
place and hour to be fixed by the subscribers
a! their first meeting when the executive
committee il elected.
At all meetings of the subscribers each sub
scriber shall have one vote for each 81 sub
scribed by him, and in any aud all matters
submitted to the subscribe for their ap-
proyal or rejection each subscriber shall have
one vote for each 81 sueScri bed by him.
1t shall be the duty OF said executive COM
mittee to collect all subscrip ptions and deposit
the same and sll moneys received by 1t IN
q bank to be selected by them; provided, how
ever, that when the surplus in their hands ex-
ceeds $4,000, such surplus shall be deposited
in savings bank to be selected by said COM
mitlee and the interest received added to said
fund.
The said executive committee shall, as
as 1t is elected have the right to demand, sue
Tor and collect all subscriptions rs they be-
come payab e under this agreement.
The said executive committee shall expend
| the moneys received by them or the purpose
| of encouraging competitive steamship lines
| as above mentioned, and for that purpose
| shall have authority to make such contracts
! with steamship companies, owners or charter
| CTS dS are III luelF judgment dONlSdDtcs pIO-
| v1ded contracts nail not be made which shall
| in the aggregate in any mon tn exceed the
/ total monthly revenue TO be derived from this
! subscription; provided that said executive
| committee may with the consent of two-thlrds
! in amount of the subscribers enter into con-
! tracts by which any surplus then on hand
may be expended in addition to the amount
OF the monthly subs criptions; but it Is eX-
| pressly understood and agreed that said exec
! utiVe com mittee shall not have authority in
any way, shape or manner or under any cir
cumStances or for any purpose TO enter In to
any contract or agreement by which the sub
! scribers hereto snail become responsible or
bic 10 any person for any other amount or
contracts entered into by the executive COM
mittee shall recite that they are made pursu-
ant TO this agreement, copy OF which shall
be attached 10 each OF said contracts, and
there shall be included in each OF said con-
tracts an express provision limiting the
liability of all of the subscribers hereto, so
that they shall not be liable for any amount
under any circumstances other than The
amounts which they agree to pay under this
agreement.
Any moneys remaining in the hauds.of the
agreement 10 wit, December 81, 1900, shall
subscribers TO this agreement who have fully
kept ana performed the terms OF this agree
ment according to the amount su ubSerib and
paid into the fund by EACH
Subscri bers hereto shall not be held liable
under their subs riptions until a sum aggre
eating $4,000 per month has been subscribed; ;
provided, however, that whenever the aggre-
gaze subs iptions have reached $4,000 per
month, the executive committee may be