The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1906-09-01
paid on this stock.
DAYTON STOCK

! mcnt of one dollar per share for .at.
Il share subscribed.
e The subscribing shareholder, >h4I
e have the right to make further pay
Il ments on account of the unpaid halanc
OF the maturity value of said stock As Ii
t pleases.
Said stock shall upon its issuanc,
commence to share in the earnings of tn,
corporation. and shall participate in tn,
, same equally with the other stock Per
manent stock exccpted) in proportion tt
the actual worth and time of each pay.
ment made ou account of it, par value.
All profits accruing to such stock shall
be credited thereto as payments on ac-
count Of its maturity value.
Whenever the shares of any subscrin-
ing ,tockhoder by reason of the Day
ments made thereon and the profits
credited thereto shall become wortt the
maturity value of one hundred dollars
per share. then the said stock shall be
deemed fully paid for, and in its place
| shall be issued the same amount Of Full
| Pad Stock.
| ARTICLE VI.
he minimum payment of twenty
| I'VE cents per share per week on un-
pledged stock and of twelve and one half
| cents per share per week upon stock
pledged TO secure a stock discount shall
be made weekly at the office Of the c.r-
poration in Patterson, La or to duly
authorized collector.
Any stockhoder failing to make his
payments on account of the par value Of
lnstallmcnt Stock and becomes five
weekly payments in arrears thereon
shall be deemed delinquent and shall be
subjected to a fine of five cents per share
for each period of five weeks said shares |
are lii arrears.
Said fine must be paid before any pay
ments can b. credited upon the stock in
arrears.
Whenever any lNSTALLMENT stock
snail become twenty four weekly pay
ments (six months) in arrears. and the
owner of same shall not at once upon
notification pay said arrearagcs together
with the tine due, the Secretar,. shall a:
once call in said stock aud convert the
same into the same amount of Dayton
stock, c,editing the payment on ac-
count of the par value Of same with the
full amonnt Of the book value of s,ii i
lustalment stock, less the fine due |
thereon: but no interest shall be allowed |
to the holderof the said Installmen, Stock {
from The date of the last dividend period
% the date of the said transfer. Ii
In the event Of the owner of said In- r
'talment Stock failing TO pay said ar 5
garages and fine upon notification and n
cfusing to surrender the same for trans IA
er, all interest upon same shall cease II
rom date of notice s.
ARTICLE VII. T
Stockholders. whose shares are not
'ledged to the corporation as security -
or money loaned or advanced NAV =
withdraw one or more shares of their s
took Permanent stock excepte,D by 81
ling with the Secretary written notice
f withdrawal. q
Each written notice of withdrawal P'
hall be registered and numbered by the
ecretary in the order OF its receipt and p'
stockholders shall be paid ~
rotation as registered out of tire first 'ss
money in the Treasury. VI
rovided that at no time can any stock VI
older or stockholders demand in any '
Onth to be paid for Withdrawals of pu
Ock more than one half of the current a"
ceirts for that month nor before the au
lpration of thirty days from the date Va
filing with the Secretary their written ah
'tice Of withdrawal. ul'
The Board of Directors shall have the pa
'wer to waive or enforce these two an
ovisos at any meeting without Civ
z previous notice. ,
The withdrawal, value of a share per go,
anent stock excepted) shall always be tow
Q amount of the payments made on !, i
ch share less any unpaid fine Gf In M
.llment stock aud pro rata of the or
rrent year expenses and losses {pro- ~.
led such expenses and losses are in rio
cess Of the profits of the Association rea
d in addition thereto all profits that nor
We been credited to said share "a,
ARTICLE VIII. tim
IN the death of any stakeholder his ed
her legal representatives shall be en- aga
led to assume control of said stock, int,
| transfer the same to his or her anu
ne.
ARTICLE IX. all
30 share will be transferred except ert,
the books of the corporation, and the be
son to whom the shares are so trans the
red shall receipt for same and shall
rehy recognize the charter of the AS y
iation AS binding upon him or her. sncI
ARTICLE \. GOV
he fund, accommodating in The treasury they
not otherwise appropriated shall be do |
ned or advanced to the stockholders this
he following manner and on the fol- n
ing conditions: Boa
here shall be two methods of loan or IA
or advancing the corporation funds ed O
Is members, termed stock loans and any
* discounts; and it shall be entirely NEE
Ional with the Board OF Directors as such
which Of these loans or advances cha-
i be made lutte
STOCK LOANS. pass
ny stakeholder whose shares are
III arrears desiring to obtain a loan