The central record. (Lancaster, Ky.) 18??-current, 1911-09-29

20 per cent of the value of said tobacco
for the benefit of the members of said
Society, but this shall not be construed
as a waiver of the right of said agent
to enforce this contract or to enjoin it's
breach in equity.
THE Board of Directors of the Bur
ley Tobacco Society shall dissolve the
pool in any year provided two-thirds
in interest of those who were members
in the preceding year and are still
members in the year in which the vote
is taken vote accordingly, the proper
tionate interest of each voter to be
determined by the quantity of tobacco
which he may have grown and deliver
ed to the pool in the preceding year.
THE Board of Directors may in any
year order and provide for such cleo
ton to be held at the time of the an
nual precinct election, or shall do upon
the written demand of one-fOurth of the
members of the Society; said demand
to be made by written notice to the
Society thirty days before the annual
precinct election.
Should the undersigned make
bona fde sale of any farm or farms
pooled under this pledge, or should the
title thereto pass from him by descent
or devise, then and in that event this
contract shall be cancelled on the first
day of January, following the sale, or
change of ownership by descent or de-
wise as to any tobacco grown on such
farm or farms after such date; but the
purchaser, or heir or devises of such
farm or farms shall have the option to
become a party to this contract and to
comply with and to carry out its terms
and conditions-the exercise of which
option shall be indicated by him on or
before such date, to-wit, January LIST,
by endorsing his signature to this
pledge; but before a purchaser can ex-
ercise such option the vender must in
dictate his assent thereto by his sigma
ture endorsed on this contract
eff he does not consent to the exer-
else of such option by the purchaser,
the vender shall have the right to sub
stitute in the pool in lieu of the land
sold by him, an approximately equal
number of acres of land, but his desire
to make such substitution must be in
dictated on or before January 1st, fol-
lowing the sale of his pooled land by a
written endorsement signed by him on
the back of this pledge, which endorse
ment shall describe the land substitut-
ed.
1T is further understood and agreed
that the pool will be closed on or be-
fore December 31st, 1911, in the discre-
ton of the District Board, and that
thereafter no new members can be adj
mitted, but the District Board of the
Burley Tobacco Society at their regu-
lar annual meeting in October of each
year, by two-thirds vote, may open the
books of the Society for the admission
of new members, such admission to be
upon such terms and conditions as the
Board may prescribe. The time for
closing the books for the admission of
new members shall be left to the dis
erection of the Board.
1T is distinctly agreed that the
earnings, income and surplus made by
the Burley Tobacco Company upon the
1909 crop shall belong to the members
of the 1909 pool and that the Board OF
Directors of the Burley Tobacco So
ciety may invest the same for then
benefit in the discretion of said Board.
THE undersigned futher agrees tC
leave his stock in the Burley Tobacco
Company and to vote same so as tt
continue that Company.
1.-The undersigned further agree:
that the Board of Directors of the Bur
ley Tobacco Society may handle AMI
manage said Burley Tobacco Company
or any other Company in which the
proceeds of his tobacco is invested, a!
provided by this contact, as in theil
judgement it is best.
.''As stated before, the pool is CLOSED
on or before December 31st, 1911, tina
is, so far as landlords are concerned
and it is further understood and agreed
that any tenant or tenants growing to
bacco on the pooled farm shall have
the right to pool any crop or crops il
any year prior to division thereof, i
he or they may so desire, and 1T is lef
optional with said tenant as to whether
or nat he will take stock in such Com
pany, but he can do so if he desires, tt
an extent not to exceed fifty per cent
of the tobacco he pools; but in the
event the undersigned has a crop oil
crops of tobacco upon pooled land, in
which he has no tenant, he is, to the
extent of the remaining fifty per cent
of the crop not hereinbefore provided
for, to have the privileges of.a tenant
in pooling same.
PLEDGE OF SIGNER's STOCK.
The pledge providing that the sign
er's stock remain in the Burley To
bacco Company, follows:
mot caring to pool my tobacco any
longer and approaching the benefits
derived from the former pool, now. in
consideration of the benefits to be de-
rived therefrom by the parties hereto
and that this contract is made by the