The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1917-01-20


paid IN rotation out Of the tr,t untDpro-
pirate m,nev in the Treasury, pr wi ID
u) that 1T no time can any st ,ck loll-r ~
Stockholders dema ID III any m,ntn /, b.
p lid TOR with lraw us Of stock IN 'rs tn IN
,ne-hllf OF the currenf receipts for that
m ,nth, nor (2) before tn, expir Atom Of
thirty days from the date Of fling with tn.
Secretary their wrltten n)sice of with
travail.
Withiraw,ls Of Stock Payments to
Liquldate Indebtedness Of Cor
poration.
In the vent any sto tx hold II fails to ap-
pear AMI settle any interest or penn nm
payments or lines, On Or before thu date
sams is due, or any other Ind sbt alue,,
within ten days from late OF Motif ,ltion
the Secretary all hiv. the auth ,rity the
foil ,wlng day Or III, ,eIl.Ifiy lfnDc son
ar paid. TO with Ira fr IN StD,k pawn ANTS
male therefore, by >,i ,to:kh ier, or
from anv other flu IDS in IL. IN |, of n
corp ,ration to his ere lit. thu amount due
tnt to impute sam, As provided in Article
OF this charter. subject t. the stock
holuer'> riga to have corrections thersaf-
ter m ,de il any .ccuracy is proven in
said charges or i'm ,ltation, wlthou dam
ages.
ARTICLES
Trln,fer Of Stock
No shares will be trAnsferre except on
the book, Of the Drp )ratlon, AMI tn par
son to wlom tbs sh ire, are 50 transferred
,h ali receipt for same an shall th ,reoy
recognize the charter bin ling upon him
Or her.
On the death Of any stockh ollsr his or
her leg al representative shall be eAtItie /
to assum, control Of said stock, An trans,
fer the SANE to his Or her name.
Transfer or Installment Stock to
DIyton Stock.
Upon the request cf any owner of In
1I~l l.
consent of the B)arl aud the Owler OF
pledged installnsnt stock; or whenever
thy last tliment stock, pledged Or FIRE,
from pie lye, shall b. in arrears, six
monthly piym ,nts tn .reOn an tn owner
Of same fails to pay arrearige within ten
lays from n)titicItloh; the BDtrl III y,
without imp .irin. any of ths rights Of the
owner to memb ership, transfer the with
firlwal value thereof from Instrument t.
Dayton Stock. excntn5ing the sim3 nu n
bar Of d .vton sh lres for the sam, nun,er
Of lnstallm mt shares, can ceiling the shares
received an is suing the new shares, SUB
sct to such pledges as existed az inst tn
shares accepted IN eXchAlg, au cAucele |.
ARTICLE
Dlvilen Is.
At the close Of BUSH SIS, June 3,th IN /
Decamb ,r 3lst OF each year, respectively
the Directors sh Ill ascert ,ln thu pro its II
the cDrp)ration for the six IN nth, p.ri II
then en- ling. aud out OF such profits, they
shall II deduct all expenses aud losses
yent losses" and "Reserve", such am,unt-
- they dean best, u It'll sui fun Is sh I'll
amount respectively to such percentage OF
all outstanding loans. as shall be fixed by
the Board, watch shall not be less th III
th It required by law, then 80 AppDrlion
the dlylIend due to Full Paid stock, at i
rate to be at that time txet, which miy
u 9 4 lr.
toned to the other classes of stock. then
a, The balance Of said profits III whole
Or in p trt MY be dscl .red as DIVIDENDS t.
lnsta.lm ,nt an Dayton st 'ckh pliers, and
III Any bilance remaining shall be
placed to the credit OF un livlde profits, |
anl at any DIVIDEND periol III. Board may
declare the undivided profits in VIII Die or
IN part As dividend.
All dividends in each year p aid to Full
Paid Stock aud credited to lnsuaimen;
an ID .yton Sto; * shall be OF dates .ianu
airy IN and July 2ni; AMI the dividend
rate sh Ill bs frs declared upon the value
Of each stock subscription of date the pre-
cediny July lst or January lst, or upon
19ch portion OF sam, as not withlraWl,
an then ia its discretion the Board IN " |
declare "a further dividend at the sane ,r
lower rate upon the current stock sub
scriptions pail in during the p:ecedln.
six months, or upon such portion Of sane
am )unt aud time of each payne nt. |
ARrICLE II.
Loans to stockholders.
1t shall at all ii mes be entirely within |
the discretion Of the R0arl of Directors to |
lend to any st0cKh ,l1er not eXceedin |
nine tenths Of the with travail VI ue of hi,
stock payments, or to advance him al. or |
art Of the par va!us Of his stock, design
ateI respectively ~ Installme 1T LIAM,
AMI ~ stock Loans; with fail auth Drity |
to IN IKE such ruiss. equations AMI stipu
lations to govern sail loaus Or q Nv ,nces in
may see proper.
ln,talment Loans.
Any owner Of Full Paid, In stalim mt or
Dayton Stock. not aIrea ly pledged a,
desiring to obtain u loan upoa
the cash withdrawal value thereof, must
present written application for su n
amount as b, de 'lres. not exceed n! niue
tenths Of It's with travail value; must exec
cute a written pie &c Of tbs stock upon
wlich The loan is made. together with all
p tym snts OF lnstalln oats anl divi len ls
present an fu .ure thereon; and III list
fur b IF execute his note in ftvor Of tn,
corp ration f)r the fll am,anL Of the
loan with interest at the rate II elgnt PER
c mt per lnnun from late untll PAL |, AMI
10 be plvsole within one year. The $50
retary shall htYe full auth 'rity to m Ike
such loans with tut referenc. to III, B,irI;
pr wi led that at any III ,eting the Bolrd
may require future ap plIcaiiOns to he re-
|erred to it for APP )rovai AID may at any
II letting H. the interest at lesser rate
han eign5 per ceul per annu II.
Stock Loans.
At any meeting of the Board Of Direc-
.or,, the Board sh Ill b i've tn rtghc to of-r
% advance the par value Of Installment or
Dayton stock, to be secure by its pie lye
IN allltionIl mortgage OF real estate.
fae offer shall BE- IN, de in open meeting
md the rate OF interest per annun stated;
lad all apple ,tions subm tie for same
INST be III writing. In awarding stoc1
. ms, preference. shall Ds gwen % the
to;kholtsr offering to ply voluntary
premium tn srefor, either discDlnt or .
onus, no part of watch shall be reD4tcd
n tle event OF repayment of loan.