The St. Mary banner., 1906-10-06
paid on this stock.
DAYTON STOCK

! Dayton stock shall be worth the ma
turty value Of one hundred dollars pc
share, and shall be issued upon the nay
ment OF one dollar per share for eacl
share subscribed
The subscribing shareholders shall
/ have the right to make further pay
ments Oh account of the unpaid baanc,
| of the maturity value of said stock AS n,
| pleascs.
Said stock shall upon its issuanc,
commence To share in the earnings of til,
| 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
ment made on account of its par value.
All profits accrung to such stock shall
be credited thereto as payments on ac-
count of its maturity value
Whenever the shares of any sabscrib-
Ing stockholder by reason of the pay
ments made thereon and the profits
credited thereto Shall become wortl 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
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
be made weekly at the office Of the cor
p"ratlon 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 "A fine of five cents per share |
'or 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 INSTALLNIENT stock
hall 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 Secretar shall at
nee call in said stock and convert the
ame into the same amount of DAYTON
| ,
ount of the par value Of same with the
ull amount of the book value of said
stock, less the fine due
lereon: but no interest shall be allowed
, the holder of the said InstaIlment Stock
rom the date Of the last dividend period
, the date of the said transfer "
In the event of the owner of said In ,
al!ment Stock failing 10 pay said ar :
garages and fine upon notification and ,
,fusiug to surrender the same for trans
r, all interest upon same shall cease ,
'om date of notice
ARTICLE VII. t
Stockholders, whose shares are not
edged to the corporation as security
r money loaned or advanced may
ithdraw one or more shares of their :;
ock permanent stock eXcepted) by .
ing with the Secretary a written notice
withdrawal. y
Each written notice Of withdrawal =
all be registered and numbered by the q
cretary in the order OF its receipt and | =
thdrawing stockholders shall be paid !"
rotation as registered out of the first | T.
money in the Treasury. ~
divided that at 10 time can any stock u
der or stockholders demand in any al
,nth to be paid for Withdrawals OF ~
,ck more than one half Of the current ~
,eirts for that month nor before the ~
piration of thirty days from the date VI
filing with the Secretary their written AZ
tice of withdrawal vi
The Board of Directors shall have the P'
wer to waive or enforce these two "'
)visos at any meeting without Civ
, previous notice.
The withdrawal, value of a share (Per- ,,.,
nent stock exceptedD shall always be ,.'
, amount of the payments made on ~
III share less any unpaid fine Gf In M
llment stock and pro rata Of the -.
rent years expenses and losses pro -,
led such expenses and losses are in -. -.
,ess OF the profits of the Association - ~.
in addition thereto all profits that 49,.
We been credited TO said share. ,n
ARTICLE VIII. tin
IN the death of any stock holder his ed
her legal representatives shHll be en- ay
ed to assume control Of said stock. in,
transfer the same to his or her an
ne.
ARTICLE TX. all
10 share will he 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
reby recognize the charter of the AS +,
ation as binding upon him or her Coz
ARTICLE X. ..a
he funds accumulating in The treasury the
not otherwise appropriated shall be do
led or advanced to the stockholders th
he following manner and on the fol- \
ing conditions: 30
here shall be Two methods Of loan or
or advancing the corporation funds ed
is members, termed stock loans and any