The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1903-04-18
date of sub scrip.icn.

annually.
Dayton Stock.
Dayton stock shall be worth the par value
of one hundred dollars per share and shall
be issued upon the payment of one dollar per
share for each share subscribed.
The subscribing stockholders shall have
the right to make further payments on &C
count of the unpaid balance of the par value
of said stock as he pleases.
Said stock shall upon its issuance com
mence to share in the earnings OF the cor
pOratiOn, and shall participate in the same
equally with all the other stock or the
corporation in proportion to the actual
worth and the time of each payment made
| on account of its par value.
All profits accruing to such stock shall be
credited thereto AS payments on account OF
| its par value.
stock holder by reason of the payments made
. thereon and he profits credited thereto shall
become worth the par value of one hundred
dollars per share then the said stock snail pc
deemed fully paid for, and in it's place shall
be issued the same amount of full paid stock.
Installment Stock.
Instalmcnt 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 subscribed.
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 IL its earnings of the corpor-
alton, and shall participate in the same
equally with all the other stock of the cor
poration in proportion to the actual worth
and time of each payment made on account
of its par value.
All profits accruing to such stock shall be
credited thereto as payments on account of
its par value
Whenever the share of any subscribing
stoc kholders by reason of the payments
made thereon and the profits credited there
to shall become worth the par value of one
then
stock shall be deemed fully paid for and in
its place shall be issued the same amount Of
full paid stock.
! The payment of twenty-five cents per share
per week shall be considered as the minimum
payment. Any multiple of twenty five cents
per share per week Can be paid weekly on
, this stock.
Payment of nStallments on shares Gull
! paid and Dayton stock cxcepted) shall be
! due and payable weekly on each Saturday
at the corpOratiOns office in Patterson, La,
between the hours of four and eight p. IN.
Any stakeholder failing to make his pay
ments on account of the par value of serial
or installment stock regularly and becomes
| five weekly payments in arrears on the
/. anne shall pay as Il penalty the sum of ten
/! cents per share for each period of five weeks
; his payment are in arrears.
, Such payments shall be considered as a
fac and must be paid before any weekly
payments can be credited upon the stock
/ in arrears.
I the payment of instalments on whose share
shall be i'll arrears for period of six months
shall by reason of such arrearage and as a
penalty and without notice forfeit all pay
ments previously made by him on such
shares together with all the dividends or
proflts that have been credited thereon and
such payments and dividends or profits shall
revert to and become the property of the
corporation.
I Article
Stockholders whose shares are net pledged
to the corporation as security for money
loaned or advanced may withdraw one or
more shares of their stock by filing with the
Secretary q written notice of withdrawal
Each written notice of withdrawal shall
be registered and numbered by the Secre-
tary in the order OF its receipt and with-
drawing stockholders shall be paid in
rotation as registered out of the first
unappropriated money in the treasury,
provided that at no time can any stock
holder or stockholders demand in any
month to he paid for Withdrawals of
stock more than one half the current
receipt for that month nor before the
expiration of thirty days from the date
of filing with the Secretary their written
notice of withdrawal The board of
| directors shall have the power TO enforce
or waive these two provisOs at any meet
ing without giving previous notice.
The withdrawal value of share shall
always be the sum of the payments made
Oh such share less any unpaid fines or
charges and pro rata of the current
years expenses and losses, provided such
| expenses and losses are iD excess of the
profits of the corporation tor that period
providing that stakeholder withdraw
ing after his shares have been in exist
ence over one year shall receive in adds
! ton to the above ten per ceDtum of the
dividends on said shares for each year
that they have been In existence. if such
shares are Serial Stock; or if the stock is
1nstallmcnt, Dayton or Full Paid, provid-
iLg that stakeholder Withdrawing after
his. stock has been in existence for a
period OF six months shall receive in adj
| ditfOn to bis payments all the cash profits
that have been credited to said shares.
| Article XIII.
/ Onlhe death of any stakeholder his OF
her legal representatives shall be entitled
to assume control of said stock and trans
fer continue or Withdraw it as he or she
may deem best.
/ Article TX.
I No shares will be transferred
Except on the books of the corpo-
ration provided no shares in ar
rears can be transferred and the
person to whom the shares are
transferred shall sign the charter,
and recognize it as binding upon
him or her.
For each share 30 transferred
there shall be paid twenty i've
cents to the Secretary to be cred
tied to the corporation.
Article X,
The funds accommodating in the
treasury shall be loaned or ad-
vanced to the stockholders in the
following. manner and on the fol-
lowing conditions:
There shall be two methods of
loaning or advancing the corpora
tons funds to its members, termed
stock loans and stock discounts /,
and it shall he entirely optional
with the board of directors as to
which of these loans or advances
shall be made.
Stock Loans.
Any stakeholder whose shares
| are not in arrears. desirinr RI oh.