St. Johns review. (Saint Johns, Or.) 1904-current, 1912-08-09

IStOCkHOluSIS VI tue COHlpduy duu
their own number.
Each and all of the directors and
the stockholders in the company
handle their own and others inter.
ests OFT of which no one can sell
once he has invested therein; the
stock, in which, will pay a like
dividend to all pro rata to the
amount invested by each, provid-
ing the stock earns a dividend.
Each stockholder is herein neces-
STATED to act for his own good, and
throughout the whole of which one
and all must observe the bylaws Of
the system by contract entered into
by themselves between themselves
as individuals and themselves as a
company.
q. How many directors will
there be in each company organized
under this systeml
A. Seven.
o. Have they complete powerl
A. Yes, as long as they strictly
observe the rules aud regulations of
the Bonville system and are not re-
lieved of their Offices by action of
the company.
Q. What authority has the pro.
noting interests in a company or
ganized under this system after 90
per cent Of the company's stock has
been subscribed and paid forl
A. None whatever.
Q. How much stock must be
represented in order to call a gen.
eral meeting OF the stockholdersl.
A. AT least 10 per cent.
Q. Are the officials OF a company
organized under this system, placed
in full power during their term OF
office, or are they subject to dis.
missal; and IL so. howl
A. They are subject to dismissal
through an action Of the board of
directors or by two.thirds (if an
officer in the company vote OF the
interests Of the company at any
general or special meeting, and II
the dismissal OF a director is desired
II requires a three.fourths vote of
all interests in the company.
q. Can stock in companies un.
der this system be sold below or
above par valuel
A. Absolutely, no.
q. Has the par value OF stock In
all aud any companies under this
system a fixed valuationl
A. Yes, one dollar per share.
.. Can a company organized un.
der this system issue bonds or
their holdingsl.
A. No, they can not. This is
strictly forbidden by the bylaws.
., Can a loan be acquired or
borrowing be enactedl
A. Absolutely. no.
., Is stock assessable under this
new systeml
A. No. Stock is sold at par
'alue only.
q Can trusts organize under
his SYSTEM
A. No. For reasons read the
IL is true-that consolidation is
10Th possible aud profitable under
his system, for through consolida-
ION IS paved one of this systems
many avenues for the saving OF
waste energy.
II is not true-that through this !
'nieney of allowing consultations, :
Z any OF the other methods in,
olved in these bylaws that in any ]
'ay relates to the forming of such
nat there any unprotected avenues
'it open whereby trusts can origi.
ate OF organize under the protec-
ON OF this system and its bylaws. q
'or those companies desiring to c
'nsolidate, there is an establish Il
regulation given in Article XI, r
'etions 2'II, of the bylaws of a
us system, preventing looseness Il
such consultations, and the man
r and modes used in accomplish s.
& the same. These methods of e
evention of looseness in the system p
{ amply provided for, and are of II
ch a nature that a curb will be "
aced upon the growth of organi- a
tion before II grows to such pro- "
'rtions as would necessitate their IL
stinction between consultations o'
modest proportions and the trust, OF
Consultations organized under
is system must necessarily be -
imposed of many people. These q
ople are joined together by mu- |
al interests.
People who are not stockholders
the company are benefited indi-
lily through the advancement of ~,
nmon interests. 1
People under this system will OF
rk in such manner as to gain all
'sible individual benefit m,
ough the consideration of their vi
tnal interests aud benefits.
Continued next week. Pr