The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1903-03-14

}. | series: and no stakeholder shall be perm
tod to mature any shares of serial stock
i advance OF the maturity of that series
making extra Or additional payments.
Il Full Paid Stock.
Full paid stock shall be issued on
e in payment of its par value of one hu
e dred dollars per share in cash at the da
!, of subscription. Full paid stock shs
participate equally with the other stot
OF the corporation in its profits in pr
portion to it's value and age
Full paid stock can be issued as sui
scribed for and shall commence its earl
ings with date of subscription.
All profits accruing to such stock sha
be payable to the owners thereof IN cas-
semi annually.
Dayton Stock.
Dayton stock shall be worth the pa
value of one hundred dollars per shar
and shall be issued upon the payment O
one dollar per share for each share sub
scribed.
The subscribing stakeholder shall bav
the right to make further payments o.
account OF the unpaid balance of the pa
value Of said stock as he pleases.
Said stock shall upon its issuance com
| mence to share in the earnings of tn
corporation. and shall participate in tn
same equally with all the other stock o
the corporation in proportion to tn,
actual worth and the time of each pay,
ment made on account of it's par value.
All profits accruing to such stock shal
be credited thereto as payments on &C.
count of its par value.
Whenever the shares of any subscrib.
ing stakeholder by reason Of the pay
ments made thereon and the profits
credited thereto shall become worth the
par value OF one hundred dollars per
share then the said stock shall be deemed
fully paid for, and in its place shall be is
sued the same amount Of full paid stock.
Installment Stock.
Installment stock shall be worth par
value of one hundred dollars per share
and shall be issued upon the payment of
one dollar per share for each share sub
scribed.
Such stock shall be paid for by the
regular payment OF twenty five cents per
share per week and the further addition
thereto of all profits as shall be declared
upon same.
Said stock shall upon its issuance COM
mence to share in its earnings of the cor.
poration, and shall participate in the
same equally with all the other stock of
the corporation in proportion to the ac-
tual worth and time of each payment
made on account of its par value.
All profits accruing to such stock shall
De credited thereto as payments on ac-
count of its par value.
Whenever the share of any subscrib.
ing stockholders by reason of the paw
ncnts made thereon ami the profits cred,
ted thereto shall become worth the par
value of one hundred dollars per share,
hen the said stock shall be deemed fully
,aId for and in its place shall be issued
be same amount of full paid stock.
The payment of twenty five cents per
hare per week shall be considered rs the
minimum payment. Any multiple of
wenty five cents per share per week can |
'e paid weekly on this stock
Article vi.
Payment of instailments on shares, full |
aid and Dayton stock eXcepted) shall |
e due and payable weekly on each Sat-
rday at the corporations Office in Pat.
,rson. between the hours of four and
ight p. m.
ANY stockholders failing to make his
ayments on account of the par value of
,rial or installment stock regularly and
ecomes i've weekly payments in arrears
n the same shall pay as penalty the
I'm ut ten cents per share for each per-
ID Ut five weeks his payment are in
'rearS.
Such payments shall be considered as
fine and must be paid before any
eekly payments can he credited upon
e stock arrears. Il
The owner of serial or installment
Ock the payment of instalInents on
hose share shall be in arrears for IA
'riod of six months shall by reason of
ch arrearage and as a penalty and
thout notice forfeit all payments pre-
Ously made by him on such shares {
gether with all the dividends or profits {
ut have been credited thereon; and such
yments and dividends or profits shall :
vert to and become the property of the :
rpOratiOn.
Article VII.
whose shares are not I
edged to tho corporation as security
money loaned or advanced may with r
wv one or more shares of their stock by |,
nH with the Secretary written no. n
D of withdrawal
ZACH written notice of withdrawal shall +
registered and numbered by the Secre- q
y in the order of its receipt, and with~ o
wing stockholders shall be paid in e
alton as registered out of the first s.
money in the treasury, v
vided that at no time can any stock. A
der or stockholders demand 10 any
nth to be paid for Withdrawals of
* more than one half the current
eipt for that month nor before the a,
irat:on Of thirty days from the date f.
fling with the Secretary their written =,
ices Of withdrawal. The board of v,
sctors shall have the power TO enforce d.
valve these two provisos at any meet a,
without giving previous notice. 81
he withdrawal value of share shall d.
avs be the sum of the payments made 81
such share less any unpaid fines or til
rges and pro rata of the current NJ
rs expenses and losses, provided such -.
enses and losses are in excess of the a.
Cts of tho corporation for that period al
viding that stakeholder with draw &c
after his shares have been in exist tn
, over one year shall receive in adds sh
to the above ten per centum of the ed
dends on said shares for each year nc
; they have been In existence, if such ;n
o.