The southern sentinel., 1903-09-11

mum i D,u rt;cIe Seven or the bids are helow
the minimum premium fixed IN TINS pHard Sn 81
[or which loans will be made, tne DOE Dos1 az
surplus fund on hands upon the STOCK o. TINS
association provided said loan snaii no, ca
ceed the withdrawal value OF the st0ck 50
authority to use surplus funds in retirlng the
stock Of the assooatlon.
ARTICLE TX.
Upon the death of stockhoider, his legal
may continue TO enjoy the
and privileges that belong hsct 70 he dues
actually paid by the deceased, and the, the porr @
tion of any profits pi1s-.I.a that sma! may
9sen efe tsa mas By due from said
deceased stock-older; provided. If the stock,
is pledged to the association, the same shall
be first redeemed by said representative.
ARTICLE X.
The Board of Directors shall, semi annually
at the first meeting in July and january OF
each and every year. declare the withdrawal
value of stock, which value shall never be less
than eighty per cent. OF the dues paid, ana me
value 80 fixed shall remain the price at which
a member may withdray shares until the next
semi annual valuation.
ARTICLE XII.
Any member not indebted to this association
may withdraw one or more shares OF STOCK
held by him upon giving one months written
notice to the President, and shall be paid for |
eyery share OF stock so withdrawn sum
equal to the withdrawal valuation for the |
time being.
ARTICLE XII.
Each and every stockholder or trustee who
shall neglect or refuse to pay his monthly
/ dues or interest as often as the same shat
become Que and payable, shall forfeit ana pay
the additional sum of ten cents monthly on
each and every dollar due by him; dues OF each
month taken separately.
All claims for dues, interest, fines and PEN
slties shall be held as lien against the stock
q delinquent members or their asslgnees, ana
" hen such claim shall amount to the sum
| &c nal to the amount OF dues actually paid by
Su ch delinquent, the same shall be sold to the
hik hest bidder, after five days written notice
I to the delinquent, and the proceeds of such
/ sale applied to the delinquency
I ARTICLE XIII.
! TIL Board OF Directors shall have power to
settle with borrowing stockholders, either par
sially or full, at any time before the stock has
reached par value, and upon the application
| of such stockholder in a manner equitable to
the association and such stockholder.
Il ARTICLE XIV.
Alltransfers Of stock shall be made on the
books of the association. No shares shall be
transferred until after the payment Of twenty
eve cents by the transferee for each certincate
transferred and the transfer approved by the
Beard of Directors.
ARTICLE XIV.
No stockholder shall ever be held liable for
1 more than his unpaid balance on his stock,
nor shall any mere informality IN the o,gan,- -
null. or of exposing stockholder 20 any Ia
| bilitY beyond the amount of his stock.
ARTICLE XVI.
i This charter can be altered, amended or
modified, or this corporation dissolved by a
Evote of three-fourths OF the capital stock rep
Presented at q general meeting convened for
fthat purpose, after ten days notice, published
in one of the newspapers OF the city.
ARTICLE XVII.
Special meetings Of the stockholders shall
i 1 81 q f6A n Uritiu0 ton
stockholders, stating the time and object OF
such meeting; but no other business than
that for which such special meeting was called
shall be transacted thefeat.
ARTICLE XVIII.
| All certificates of stock must be signed by
the President and attested by the Secretary
with the seal Of the association attached, and
| must be duly numbered and recorded.
J ARTICLE XIX.
The following shall constitute the Board oi
, Directors and they shall hold Office until the
|, third Monday in July. nineteen hundred and
/ four, until their successors shall have beer
chosen s,,d and queIinsdp pvs N Hyds ESi p pase
: z. c. Drew; with e. g. Drew, President; }. D.
I Pace, Vice President; and H. T. Pye, Treasurer
ARTICLE Xxx.
, The Board Of Directors shall have the power
sssOcsation I e to s sen % fuipaid dividend stock in
addition to the series stock provided in Articl,
. | Four, Of this charter.
II
. Of Two Hundred Dollars each, and shall no
1 be sold for less than the par value Of Twt
, Hundred Dollars in cash per share, in sucf
. / Directors may direct. A dividend of one dol
lar ISL 00) shall be paid monthly on each share
l Of Two Hundred Dollars Of this stock to tn,
| ticipate in any other way in the earnings o.
profits of this association, except the MONTH. |.
E dividend Of one dollar per share above men
toned, but the holder OF said stock shall enjo,
T | the same right to vote in any stockholders
meeting that ID accorded to any holder q
1 series stock of this association. each share o
q Two Hundred Dollars being entitled to on,
i In order to accommodate small investors
4 The Board OF Directors may issue this stool
in fractional parts Of one-hah share, or one
9 quarter share, and said fractional part shal
: BY fun shares, two half shares, or four quarte
.. shares, being equal to one full share. Th:
Z dividend stock can be transferred on the book
2 Of the association under the same condition
and requirements covering the transfer o
The holder Of said dividend stock shall hay
'e the right to withdraw same at any time b,
y giving the associatien sixty days notice il
u drawal value Of same the full face value O
said stock. together with any accrued an,
unpaid dividends, provided the Board Of Di
3, rectOrs shall not be required to use more thai
/ one-half Of the receipts Of the association to
u wards paying on this class OF stock. TIL
Board Of Directcrs shall also have the right :,
they deem 1t to the interest OF the association
paying to the holder Of same the full fac
e value Of said stock, and any accrued unpai
s dividends.
The number Of shares Of dividend stock out
= standing ct any time shall not exceed tn
y total member Of shares Of series stock out
= standing in al the series.
Nothing IN this shall be sconstrued as effect
ing or changing in any way the series stock q
:. this association.
y Thus done and passed ON this the 18th Z
= August, A. D., 1905 in the presence OF Cla
:. Riser and J. w. Teddlie, legal and competen
!, witnesses, Who hereunto subscribe their name
q with the said appearerS. and me, Notary.
Id !. =. Slee8 Il SnArt
mi y. OfeW-.--.-------- -
III q. ~. "
Al n. n Hyde per e. @. Drew...--5
y. ). A0el- %
., ]. I. WAu1ce.---------..-----.
h Attest:
. Clay Risss ,u
N D. B. COATES,
n Notary Publ,
be State OF Louisinns