The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1906-09-15
paid on this stock.
DAYTON STOCK.

paid on this stock
DAYTON STOCK.
Dayton stock shall be worth the ma
turity value of one hundred dollars pe
share and shall be issued upon the nav
ment of one dollar per share for eacI
share subscribed
| The subscribing shareholders shal
| have the right to make further pay
ments on account of the unpaid balanc,
OF the maturity value Of said stock as II,
pleases.
Said stock shall upon its issuance
commence to share in the earnings Of The
corporation. and shall participate in tn,
same equally with the other stock. per
manent stock excepted) in proportion tc
the actual worth and time Of each pay
ment made on account of its par value
All Prohts accrulng to such stock shall
ne credited thereto as payments on ac-
count OF its maturity value
whenever the shares of any snbscrb-
ing stOckholder by reason of the pay
men's made thereon and the profits
credited thereto shall become worth the
maturity value Of one hundred dollars
per share. then the said stock shall be
deemed fnlly paid for, and in its place
snail be issued the same amount of Full
Paid Stock.
ARTICLE VI.
The minimum payment of twenty
five cents per share per week on nm
pledged stock and of twelve and one half
cents per share per week upon stock
pledged to secure a stock discount shall
he ado Uaaly1y at thn e ~
poraton in Patterson La. or to a duly
authorized collector.
Any stockholder failing to make his
payments on account Of the par value of
lnstallment Stock and becomes five
weekly payments in arrears thereon
shall be deemed delinquent and shall be
subjected to fine of five cents per share
for each period of five weeks said shares
ire in arrears
Said fine must be paid before any pay
nents can be credited upon the stock in |
arrears
Whenever any INSTALLMENT stock |
hail become twenty four weekly pay
nents (six months) in arrears, and the |
'wner of same shall not at once upon |
pay said arrearages together
With the fine due the Secretary shall at
nee call in said stock and convert the
anne into the same amount of DAYTON
,tock, credltlng the payment on ac-
cunt OF the par value Of same with the
ull amOnnt of the book value of said
ustallment stock. less the fine due
hereon: but no interes, shall be allowed
} the holder of the said Installment Stock
rom the date of the last dividend period
} the date Of the said transfer.
In the event of the owner of said In
talment Stock failing to pay said ar
garages and fine upon notification and
,fusing to surrender the same for trans
'r, all interest ufon same shall cease
rom date of notice Is
ARTICLE VII.
Stockholders, whose shares are not
lodged to the corporation as security :,
" money loaned or advanced may :
ithdraw one or more shares of their
ock Permanent stock excepted) by
ing with the Secretary written notice
withdrawal.
Each written notice of withdrawal
lal be registered and numbered by the |
ecretary in the order OF its receipt and !
stockholders shall be paid u
TOtitIbH dS IoHISlcItu Out VI tuC uTSl |
money in the Treasury,
ovided that at no time can any stock
,lder or stockholders demand in any
onth to be paid for Withdrawals of p
Ock more than one half of the current
ceiHts for that month nor before the il
piration of thirty days from the date '
filing with the Secretary their written d
tice of withdrawal. !"
The Board of Directors shall have the p
wer to waive or enforce these two !"
Ovsos at any meeting without Civ
g previous notice.
The Withdrawal; value of a share per- :,
anent stock excepted) shall always be :,
Q amount Of the payments made on "
ch share less any unpaid fine Gf In NJ
,lment stock aud pro rata Of the :,
rrent years expenses and losses pro :,
led such expenses and losses are in =;
cess Of the profits Of the Association p,
d in addition thereto all profits that ~
We been credited to said share. r.
ARTICLE VIII. ii
IN the death of any stOckholder his q.
her legal representatives shall be en- a.
led to assume control of said stock. in
d transfer the same to his or her Al
me.
ARTICLE IN. al
No share will be transferred except er
the books of the corporation, and the b'
son to whom the shares are SO trans tn
red shall receipt for same and shall
,reby recognize the charter of the As
iation AS binding upon him or her. 81
ARTICLE X. ~
The funds accumnlating in the treasury til
| not otherwise appropriated shall be dc
ned or advanced to the stockholders tn
the following manner and on the fol-
7iug conditions: 81
here shall be two methods Of loan or
or advancing the corporation funds ed
it's members, termed stock loans and an