The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1906-08-25
paid on this stock.
DAYTON STOCK

h'i9 l'h SloCh SNAIL Dc worth the ma
; turity value of one hundred dollars pc
e share, and shall be issued upon the pay
l. ment of one dollar per share for eacl
d share subscribed.
g The subscribing shareholders Shall
g nave the right to make further pay.
Il nents on account of the unpaid balance
: OF the maturity value of said stock as he
e pleases
Said stock shall upon its issuance
/, commence to share in the earnings of the
corporation and shall participate in the
, same equally with the other stock Per
manent stock excepted in proportion to
the actual worth and time of each pay
men' made on account of it, par value.
All profits accrning to such stock shall
be credited thereto as payments on ac-
count of It's maturity value
Whenever the shares of any Snbscrib-
Ing stockhoidcr by reason of the pay
mcnfs made thereon and the profits
| credited thereto shall become wOrtl the
maturity value Of one hundred dollar,
| per share. then the said stock shall be
deemed fully paid for, and in It's place
| shall be issued the same amount of Full
| Paid Stock
ARTICLE vi.
The minimum payment of twenty
five cents per share per week on un-
pledged stock and of twelve and one half |
cents per share per week upon stock |
pledged t. secure stock discount shall |
be made weekly at the office of the G r.
poratlon IN Patterson, La. or to Il duly
authorized collector.
Any stockholder 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 Il fine of five cents per share
for each period of five weeks said shares
are in arrears.
Said fine must be paid before any paw I
ments can be credited upon the stock in 5
arrears. Il
Whenever any lNSTALLNIENT stock {
shall become twenty four weekly pay S
ments six months) in arrears, and the /
owner OF same shall not at once upon t
notification pay said arrearages together $
with the fine due the Secretar, shall at S
once call in said stock and convert the y
same into the same amount OF DAYTON v
Stock. crediting the payment on ac- o
count Of the par value of same with the o
full amonnt Of the book value of said II,
ocO1hs iSoS tHC Uuc lut IL
thereon: but no interest shall be allowed y
% the hoderof the said Installment Stock c,
rom the date of the last dividend period
o the date of the said transfer. Ib,
In the event of the owner of said In ra
talment Stock failing to pay said ar ST
Garages and fine upon notification and m
cfusing to surrender the same for trans al
er, all interest upon same shall cease m
rom date of notice Isl
ARTICLE VII. tn
Stockholders, whose shares are not va
ledged to the corporation as security ~
or money loaned or advanced may :"
'lthdraw one or more shares of their :
took permanent stock excepte,l by 81
ling with the Secretary written notice
f withdrawal. sh
Each written notice of withdrawal "a
hall be registered and numbered by the 'h'
ecretary in the order OF its receipt and pc
ithdrawing stockholders shall be paid oS
! rotation as registered out of the first pa
money in the Treasury, ~
rovded that at no time can any stock 'ht
older or stockholders demand in any an
onth to be paid for Withdrawals of ="
ock more than one half of the current '''
ceirts for that month nor before the au!
,nir,tion Of thirty davs fr,n, 10 dato val
APit"lioh va Viii IiOIA tIlC udtc
filing with the Secretary their written ah'
,tice of withdrawal. ure
The Roard of Directors shall hova tho pay
,,par +o ,vo;vo or a,foroo +bn,a ~. anC
ovisos at any meeting without Civ
g previous notice. :
The Withdrawal, value of a share (Per- ,,,,
, 'ho''' a'ooA 0AIep.e"l sh'li Always DC ten
ch share less any unpaid fine Gf In mo,
sllment stock) and pro rata of the nv ,
rrent years expenses and losses pro ,h.
led such expenses and losses are in ,;,r,
cess of the profits Of the Association r.o.
d in addition thereto all profits that .n
We been credited to said share. nn,
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. linte
/ transfer the same to his or her ann
me- A
ARTICLE IN. all ,
30 share will be transferred except erty
the books of the corporation and the be |
son to whom the shares are so trans the
red shall receipt for same and shall
reby recognize the charter of the AS r.,
iation rs binding upon him or her. s,ci,
gOyt
he funds accommodating in the treasury they
not otherwise appropriated shall be do II
ned or advanced to the stockholders this
he following manner and on the fol- n,
ing conditions: Boar
here shall be two methods Of loan or az
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 cnas
Il be made. Iu,io
STOCK LOANS pAsSI