The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1906-09-22
paid on this stock.
DAYTON STOCK.

DAYTON STOCK.
Dayton stock shall be worth the ms
turity value of one hundred dollars ne
} share. and shall be issued upon the pay
ment of one dollar per share for eac
share subscribed.
The subscribing shareholders shal
have the right to make further nav
ments on account of the unpaid balanc
OF the maturity value of said stock as h
pleases.
Said stock shall upon its issuanc,
commence to share in the earnings of tn,
corporation. and shall participate in thu
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 profits accruing to such stock shall
De credited thereto as payments on &C.
| count OF its maturity value,
whenever the shares of any subscrip-
ing stockholder by reason of the pay
| ments 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 fully paid for, and in its place
Shall be issued the same amount of Full
Paid Stock.
ARTICLE vi.
The minimum payment of twenty
nve 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 stock discount shall
he made weekly at the office of the cor
poration in Patterson. La. or to duly
authorized collector.
Any stockholder failing to make his
payments on account Of the par value of
lnstalment 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 in arrears.
Said fine must be paid before any pay
ments can be credited upon the stock in !
arrears.
Whenever any lNSTALLMENT stock |
shall become twenty four weekly pay
ments (six months) in arrears, and the |
owner of same shall not at once upon /
notification pay said arrearages together
with the fine due, the Secretary shall at
once call in said stock and convert the
same into the same amount of Dayton
Stock, crediting the payment on ac-
count OF the par value of same with the
full amonnt Of the book value of said
lustallment stock, less the fine due
hereon; but no interest," shall be allowed
o the holder of the said Instalment Stock
rom the date of the last dividend period
o the date of the said transfer.
In the event of the owner of said In
tallment Stock fa'flng to pay said ar
garages and fine upon notification and
cfusing to surrender the same for trans
er, all interest upon same shall cease
rom date of notice Is
ARTICLE VII. II
Stockholders, whose shares are not
ledged to the corporation as security |.
or money loaned or advanced may !:
one or more shares of their
tock Permanent stock excepted) by
ling with the Secretary written notice
+ withdrawal Is
Each written notice of withdrawal !
hall be registered and numbered by the
ecretary in the order of it's receipt and !!
stockholders shall be paid =
rotation as registered out OF the first =
money in the Treasury, -
rovided that at no time can any stock
older or stockholders demand in any :"
onth to be paid for Withdrawals of =
Ock more than one half of the current !"
ceints for that month nor before the a
zpiration of thirty days from the date V
filing with the Secretary their written a.
,tice of withdrawal. ~
The Board of Directors shall have the r
,wer to waive or enforce these two a.
ovisos at any meeting without Civ
& previous notice.
The withdrawal: value of share per- y.
anent stock exceptedD shall always be te
g amount of the payments made on w
ch share less any unpaid fine Gf In m
allment stock) and pro rata of the q,
rrent years expenses and losses (pro- III
ded such expenses and losses are in ri
cess of the profits of the Association re-
d in addition thereto all profits that ne
We been credited to said share. =,
ARTICLE VIII. til
On the death of any stockholder his ed
her legal representatives shall be en- as
led to assume control of said stock. in
Il transfer the same to his or her an
me.
ARTICLE TX. all
No share will be transferred except er
the books of the corporation, and the be
rson 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. o.,
ARTICLE X. 81 ."
The funds accumulating in the treasury th'
| not otherwise appropriated shall be do
ned or advanced to the stockholders thi
the following manner and on the fol-
ring conditions: Be
There shall be two methods of loan or
or advancing the corporation funds ed
it's members, termed stock loans and an
OK DISCOUNTS; and it shall be entirely me
ional with the Board OF Directors as su,
which OF these loans or advances CHI