The Meridional. (Abbeville, La.) 1856-1906, 1899-11-25
c. H A RI E r
Or THE
ACNE SAVING ASSOCIATION.
STATE OF LOUISIANA,
PARISH OF VERMILION.3

OF NOVEMBER, "A. ~, lo55, bclolO me-
WILLIAM PIHRREPONT EDWARDS, a no.
tary public, in and for the parish and
state above written, duly comml ssloned
and qualified, and in presence of the Wit
neSSes hereinafter named and signed, per-
,sonally came and appeared the several
persons whose names are hereunto sub
scribed, who s~everally declared, that
awaiting themselves Of the laws of Louis
lana for the organization of works OF
public utility and advantage and others,
they have contracted and agreed. and do
by these presents ~convenant anu agree,
bind themselves as well as all others
who may hereafter associate themselves
with them or their successors. to form
and constitute q corporation and body
polite in law for the objects and purposes
and under the agreements and stlpuia-
'tions following, to-wit:
ARTICLE /.
The name and title of said corporation
shall be the "Acme Saving Association"
and under it's said corporate nameit shall
have power and authority to have and
enjoy succession for the full term and
period of n~inety-nine years from II at
ter the date hereof; to contract, sue II
be sued to have and to use a corporate
seal II the same to alter and change at
pleasure; to hold. receive, lease, pur-
chase, sell, convey mortgage and pledge
IltuCl u " pDAoIS IhA1S AoPSAb WV
real and PERSONAL; to issue bonds, to loan
and borrow money on security, to name
and appoint such officers. directors and
agents as the interests or need of Said
corporation may require, and to make
and establish such bylaws, rules and
regulations for the proper management or
the affairs of said corporation as may be
necessary and proper. and the same to
change, alter and amend at pleasure, and
to do and perform all other acts and
things that MAY be required and neces-
-sary to carry out the objects and purposes
of said corporation.
ARTICLE III.
The domicile of said corporation shall
be at Abbeville, La, and all citations or
other legal process shall be served on the
President of said corporation, or in his
on the Vice President. and in the
absence of both IN the Secretary of the
corporation.
ARTICLE Ill.
The object and purposes for which this
corporation is established and the nature
of the business to be carried on by TT are
declared and specified to be:
1st-To furnish q safe and profitable
method of investing the savings of the
people, and thereby encouraging them to
save their earnings.
2nd-To aid the members of the associa-
ton i'll building, purchasing or improving
houses and property generally and es-
fpecially homes.
3rd-To accumulate q fund from install
ments, rentals, premiums, interests and
subscriptions for stock, to be loaned to
members to aid them i'll acquiring or i'm
proving homesteads or other real estate
and in purchasing real estate for the ben
eft of the members and improving and
building on the same and selling the same
to members on terms convenient to them,
IA for paying Oft matured stock.
ARTICLE Nv.
The capital stock shall be Five Hun
sdred Thousand $500, 00O) Dollars, and con-
,sist of five thousand 5000 shares Of one
hundred ($l00) dollars each, par value, and
be divided into the following classes +:
1~st--Series A. Stock, to be paid for in
monthly installments Of seventy cents
per share, and n dollar per share adj
mission fee.
~2nd-Series 3 Stock, to be paid for in
quarterly, semi-annual or annual INSTALL
ments. i'll such amounts as shall be equiv
'alent to the monthly installmentS of sew
senty cents per month as the bylaws may
provide with like membership fee of one
dollar per share.
3rd-Full Paid Stock, which mast be
paid for i'll cash at the time of subscripr
tim at the rate of Fifty Dollars per share.
and one dollar admission fee per shaEe.
4th-Deposit or Irregular Instaflfnent
Stock, the value of which will depend on
the amount paid in, and the interest ac-
cumulations thereto at six per cent per
annum. Payments on this stock may be
made at any time according to the ability
of the stakeholder and may be closed at
the option of the owner and discontinued
rs provided by bylaws.
5~th-Guarantee Stock, one hundred
shares of CHS stock at the par value of
one hundred dollars per share, amounting
to $4,000, shall be issued con%secutively
and paid for in installnents, as needed at
the direction of the board of directors.
The holders of this stock guarantee al
other stockholders against all costs.
charges and expenses of operating the
business of the corporation takes ex-
;ceptedl in excess of the expense fund aris-
ing from the ten cents per share per
month. the admission, transfer and with
drawal fees herein provided for the ex-
penses of the corporation. And the hold
aers of this stock as such, shall not parti-
in the profits. interest or benefits
of any other class of stock beyond the
amount set-apart and assessed as afore-
said ON said stock. But the payments of
the installments of said guarantee stock
shall only become due and payable after
assessment by resolution of the board
of directors.
ARTICLE v.
Minors may hold shares through their
tutors or parents and married women in
their own separate right. At the close of
each fiscal year the net profits shall be APP
portioned and u dividend credited to the
of each share in force III the man
Aier that may be determined by the diree-
tor. Whenever any series of shares, by
reason OF payment of installments there
together with the interest and profits,
the aecumulatiOnS and dividend credited