The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1914-04-18

[AHs
same Is hereby amended to read as
follows:
section H.. Subscriptions TO In
stallment Stock (both Fast Matur-
Ing and Slow Maturing) in this AS
tsociation will be received at any
time. Each holder OF Fast Maturing
Installment Stock shall pay to the
Secretary at the Office OF the As.
ISOLATION. each Saturday night; at;
NE time seti.torth 70 Section rs oE
lktiese By.I avs. the sum OF twenty
| aye cents for each shara Of saiti' stock,
l4sfld BY him, and each itol DEF Of Slow
Mat rfds Stock shat lin Ike mann efi
pay the sum Of twelve and uneth afS
cents per week for EACH share 81, said
last mentioned stock held bysiiims
until said weekly payments, togeth5
sr with the net earnings thereons
shall amount to the, par value OF said
stosk at which time the stakeholder
shall; be entitled to receive the value
thereof in cash, or, with the con-.
sent of the Board OF Directors. in
Paid-up Stocks. after deducting for
any loans or other Indebtedness to
the Association, in which case the
loan or other Indebtedness shall be.
cancelled. Any member shall have
the-right to pay his dues on INSTALL
ment Stock in advance II he SO dc.
sires." I.
RESOLVED: That Section Is Of
the Bylaws of Fairmont Building
and Loan Association be and the
same is hereby amended 10 read as
follows:
Section Is. The office of the AS
ISOLATION shall be open for tho re-
ceipt- Of dues, interest and premiums.
and dues, interest and premiums on
lnstallment Stock shall be paid on
Saturday evening of each week be-
tween the hours OF $3.50 and 900
O'Clock, and at such other times as
THE, Board of Directors, BY order
duly entered of record, may requires
The time for, the receipt Of dues may,
be changed by order OF the Board.
And on every Saturday evening on
which there is sufficient money in
the Treasury of the Association
available to advance loan on ut
least one share of stock, an auction
sale OF said money shall be held and
conducted as provided in Section 90
of these Bylaws"
RESOLVED: Tina: the third para
graph of Section 81 of the Bylaws
of Fairmont Building and Loan AS
ISOLATION be and the same is here
by amended to read as follows:
"Second-Such dividend as the
Board of Directors may declare on
the Paid-up Stock the same not to
exceed 3k 60 for the period of six
months (but the said Board shall
never declare or pay dividend on
the Paid-up Stock OF greater per
cent. than that declared or paid on
the Installment Stock):, and also
such dividend as the Board of Dirce:
tors may declare. on the lnstallment
Stock, same to be computed and paid
or credited as hereinafter provided !,
REsoLVED: That Section 90 of
the Bylaws of Fairmont Building
and Loan Association be and the
same is hereby amended to read as
follows:
Section 90. At the meeting held
on Saturday evening OF each week,
as provided in Section Is of these
Bylaws. il there be sufficient funds
in the Treasury of this Association
with which to advance loan on at
least one share of stock, the Secre-
tary, promptly at the hour of eight
o'clock, shall ascertain, by a bona
tlde auction sale, the stakeholder
who will pay the highest weekly
premium for sail funds, and II there
be no bid made therefor, at or above
the minimum permium, then, upon
such default Of bidders at or above
the minimum premium, said Secre-
tary may award to any stakeholder
applying therefor the value of the
shares held by said stakeholder less
minimum premium: and. in either
event, the Secretary shall reoort in
I'writing 10 file Board Of Directors,
at their next regu,a: meeting, the
result OF such auction sa!c.hf The
said Board shall then grant theloan
to said highest bidder, provided he
I'had at the time of making ibis bid
and has continued to-have and still
t-.tas=shares===in, DISSATISFACTION the
ultimate value of.swhich equals or
exceeds the amount of the loan de-
sired; or to the stockholders award
ed said money, as the case may be,
upon .heing satisfied with the Sc
curity offered"
ANY member being unable or not
desiring to be present at such sale
may leave written authority with
the Secretary to bid for him. speci-
flying the amount of money desired
and the bid therefor he Is willing to