The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1903-03-28

v8Ali profits aCcrulnS TO SUCH StoCn Oh"
co,ISadited thereto as payments on a'-
WINas,par value. =,
Ii ing stocEfofhe share of any subscrio'
: ments made theS&y reason of the pay
tied thereto shall bsHSd the profits cied'
value of one hundred dSr%orth the pal
then the said stock shall be Az 1f e"u ;,
> paid for and in its place shall IS s i",sy
the same amount of full paid stock. w. w.
, The payment of twenty five cents pc
share per week shall be considered rs tn
, minimum payment. ANY multiple o
twenty five cents per share per week Cal
be paid weekly on this stock.
Article VI.
Payment of instailments on shares; full
paid and Dayton stock eXcepted) shall
De due and payable weekly on each Sat.
urday at the corporations Office in Pat
tersOn, between the hours of four anC
eight p. m.
Any stockholders failing to make his
payments on account of the par value OF
serial or installment stock regularly and
becomes five weekly payments in arrears
on the same shall pay as a penalty the
sum Of ten cents per share for each per
iod of five weeks his payment are in
arrears.
| Such payments shall be considered as
fine and must be paid before any
weekly payments can be credited upon
| the stock arrears.
The owner of serial or installment
stock the payment of instalments on
whose share shall be in arrears for a
period of six months shall by reason of
such arrearage and as a penalty and
| without notice forfeit all payments pre-
viously made by him on such shares
together with all the dividends or profits
that have been credited thereon; and such
payments and dividends or profits shall
revert to and become the property of the
corporation.
Article VII.
Stockholders whose shares are not
pledged 10 the corporation as security
for money loaned or advanced may with
draw one or more shares of their stock by
filing with the Secretary written no
tice of withdrawal
Each written notice of withdrawal shall
he 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 .lemand in any
month TO be 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
notices of withdrawal. The board of
directors shall have the power TO enforce
or waive these two prOvi,os at any meet
ing without giving previous notice.
The withdrawal value of u share shall
always be the sum of the payments made
on such share less any unpaid fines or
charges and pro rata of the currentt
years expenses and losses. provided sucl !
expenses and losses are in excess of .f l
profits of the corporation for that peril |
providing that a stakeholder withdrs-
ing after his shares have been in ext
ence over one year shall receive in sil>
ton TO the above ten per centum cine
dividends on said shares for EACH ear
that they have been in existence, isnch
shares are Serial Stock; or if the 'ck IS
lnstallment, Dayton or Full Paid r0vld~ .
iEg that a stockholicr withdraw'g after {
bis stock has been in existese Tor
period OF six months shall rece'e in adj I
ditton to his payments all the c'h prohts ,
that have been credited to saidhares-
Article Kill
On the death of any stockolder his or :
erlegal representatives sha be entitled {
to assume control of said sick and trans {
fer, continue or withdraw as he or she
may deem best t
Article T. II
No shares will e transferred !
except on the book of the corpo- c
ration provided 70 shares in ar 9
rears can be transferred and the c
person to whom the shares are :
tran sferred shallsign the charter, i
and recognize Jas binding upon a
him or her. c
For each share so transferred :
here shall h paid twenty five ,
cents to the Secretary to be cred e
ted to the corporation. g
Article X. q
The funds Accomplishing in the a
reasury shall he lbaned or adj a
7anced to the stockholders in the g
GLOWING manner ind on the fol-
owing conditions
There shall be two methods of b
oaning or advancing the corpora e
ions funds to It's hembers, termed
took loans and stock discounts;
nd it shall. be entirely optional p
nth the board of directors as to Fl
'hich of theseloans or advances 81
hall be made, IL
STICK Loans. II
Any stakeholder whose shares Al
re not in Arrears. desiring to OBJ e:
lin a loan upon his stock, must a
resent at a meeting of the board "A
I directory a written application p
IF such AMOUNT as he may de-
re, not exceeding nine-tenths of 81
lie Withdrawal value of his stock. ii
said application is granted, he y
ust give q written pledge to the Sc
for the stock upon
hich he loan is made, together t.
18th an payments of installments ls
i'd dividends, present and future p
eredn, and must further execute h,
Is note in favor of the corpora ci
on for the full amount of said 81