The Birmingham age-herald., 1909-12-11
Plan of Subscription.

Plan Of Supscription.
 The subscription plan as submitted by the subcommittee is as follows:
 Subscriptions to the capital stock of Five Hundred Club of Birmingham, In- corporated."
 We, the undersigned. hereby severally subscribe for the number of shares Of the capital stock of Five Hundred Club of Birmingham, incorporated" a body corporate to be organized under the laws of the state of Alabama, of the par value of &l00 per share, set opposite our re- spective names; and we do hereby several ly agree each with the other, and with said proposed body corporate, to pay the par value of our subscriptions in cash as follows, to-wit; one-fifth thereof on the date to be fixed, as hereinafter provided for the first meeting of the subscribers, and the remainder as called by the board of directors of said proposed body corpor- ate; but, provided, that not more than one-fifth of our several subscriptions may be called in any single year dating from the incorporation of said body corporate
 It is mutually covenanted, understood and agreed:
 A. That the primary object of the pro- posed body corporate is to increase the population and payrolls of Jefferson coun- ty. Alabama, by extending financial aid 
 be hereafter established in Jefferson coun- ty, Alabama. by way of loans to the own- CTS of such industr1as, to be secured by mortgages or pledges of mortgage bonds, or by way of the purchase of the mort gage bonds of the owners of such in- dustries; that neither loans nor purchases of bonds shall exceed In the aggregate one-third of the value of any such in- dustry at the time of the making of a t,xy the board of directors or executive com mittse of said proposed body corporate, or by some person or persons appointed by said board of directors or committee for such purpose; and further, that, no loans to or purchases of bonds of any of such industries shall be made which exceed 20 per cent of the then total subscribed capital stock of said proposed body cor porate.
 B. That the authorized capital stock of the proposed body corporate shall not exceed at it's organization s5oo.0o0; that no subscribers may subscribe for more than 100 shares, or for less than live shares of its capital stock: that all sub- scriptions shall become void unless $200.- 00O of the capital stock shall be sub scribed for on or before March 1, 1910: that fully paid and non-assessable stock certificates shall be issued to each sub scriber for each $1o0 or multiple of $100 paid, as and when the same Is paid, whether or not the subscription of the subscriber shall then have been fully paid, and that the first dividend declared and paid shall be fixed at a certain rate per annum on each share of stock then is- sued and outstanding, dating from the time of payment in full for each such share, and that all subsequent dividends declared and paid shall be fixed at a pertain rate per anuum, dating from the time of the payment of the last preceding dividend As to each share of stock which shah then have received a previous divi- dend. and dating from the time the psv- ment in full for each share of stock then issued and outstanding, which shall have been paid for in fun subsequent to the payment of the then last preceding dividend.
 q. The substance of the foregoing covenants and agreements shall be em- bodied In the certificate of the incor- poration of the proposed body corpor- ate.
 D, That the undersigned subscribers win meet in convention for the purpose of adopting bylaws. adopting . certifi- cate of incorporation, electing . board of directors, providing for an executive committee, designating an agent to re- oeive subscriptions to the capital stock and of making au other steps deemed