The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1906-08-25

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a.i1i'' '"u i"' >I'h aih"aht as l." de-
= sn'>' MOI eNeerdih- nIhe tcnfhS OF the
VII III FAlut "l ms stock. II such
! application : granted, he must give Il
"'I''H pI"d-c 10 the corporation for
me S.'''N upon Whleh the 1an Is madr,
o'-'iiter Wlth al payments Of INSTALL
ilth'S ana dlVIdcndS. present and future
thereon. aha must further execute his
n"1r ~ laH"r ol th@ corporation for the
.'i ''!i'"Ilt oi SAM inan with interest ut
| me tate 81 cIht per cent per annum
iH,H 'He d1tf 81 the note untll paid, and
10 ~ pay anIc within one year after date.
"Iot IL DISCOUNTS.
Atany ymcetingofthc Boardof Directors
if the funds 50 warrant said Board sb,,i
have the right to offer 10 advance money
Hp"n the par value OF In>taIimrn, stock
The said ,tfcl shlti be m4,Ir by nurtinn
| and the said advance Shall bt. mai, IA
| the >tochhoder bidding the highest VOL
untary discount therefor, which shall
be considered and accepted Is Il bonus
therefor: provided that no stockhol,l.r
shall be permitted to bid. whose stock
is in arrears: and provided tha, the real
estate offered rs security for said adj
vanccs must be approved lv the Board
favorable report thereon from the ap-
pralsrmen; committee and the ab,trac-
tor "i the corporation as To- the va.ue
and ttie Of the same
Sand stakeholder must give Il written
pledge % the corporation for the stock
upon the pay value upon which the said
advance i made. together with the paw
mthfs OF all n>tal,nrnts and .ividrndS
I fhtA.,,
further sell tie property accepted by the
Board OF Directors as security To the
corporation Tor the ct>h consideration of
he amount of the loan
SAID property after such improve
nents have been made as previously
agreed upon by the stakeholder and
he corporation shall be rc-suld to said
'tockholder (the corporation retaining =,
'cnd"r lien aud privilege .hercon) the
consideration of the resale being rrpre-
ented by note, executed by the stock
lolder II favor of the corporation for
he fall amount of the par vaiue of his
took upon which the advance was made.
AID note to bear siN per cent interest
er annum from date to be identified
vith the act of resale and TO be PAYABLE
n demand after its date. The interest
n said note shall be payable in month
inStalments on any Saturday OF each
lonth at the corporations office in
atterSOn. La. or to Il daily authorized
)llector.
An agreement shall BE- entered into
etwten the stakeholder and the cnrno.
''iph , "heieoy the payment OF said note
inimum weekly inst,l,m.n,s - 90 I"e
ld one half cents ner sb,ro and ~
Juthlv installment of one-,waIf,, -
X per cent per annum on ,ba f.oaof
e note, are regularly paid mil tho
llue of the said stock shall how ~
me equal to IFS mar yalue a,l tbo,
G said notes shall hacoma Iun and ~
ible and the voIue of thu s.;d .al
all be applied to its ,e,tIement
In the event that apv Stocth,Idar
all be i'm arrears twenty fnur wa.I,l,
yments (six monthsl for tho minimum,
stallments OF twelve and ono h,lf nant,
+ share per week on the stock nledred
him as aforesaid or for 81 mnnti,1,,
yments of the interest dlr on the f.ca
the note representing said loan then
said note shall become at once dua
4 exigible. as a penalty and wi,bnut
tting in default for its tull amount:
4 the Board of Directors shall be
no' ,o ,,t ,IIu - ~ '''''i' 'i,e hote Win the
! ~ ;n.,;,,,to 'too. paese" 70 SECURE II;
:, . A. a1',,I ~ ''. oi'oo ea'H icSai hlehs-
,,,an, ,,.;tI, ~, :.y !" hioic0 i's
, attorna,,s faas ''o 'ne'eo"
''''''"e ''o''
ARilCLE nj.
stockholders obtaininr loans or al
ices upon their stock and falling to
der satisfactory securitv for s,no
hin thirty d,vs from ,bn dat. or -.
etinr at which said loan w,s ,nn,iod
,id for sb,n fnrf.it u,,,n 'i,i;,i',a
Board of Directors sl,u h,v. .r,a
If 10 extend the time far c,,ict,ctnr,,
sons and ,ll c,c, mr. cb,rr,. ''r ~