The St. Mary banner., 1917-01-27
to be in writing, and each no.

aDpllCaC1OI TO De IN WTIIluS, auu eaCu mo-
tice of withdrawal be registered aud
numbered by the secretary in the order Of
its receipt and withdrawing stOckholders
paid in rotation out Of the first unaDpro-
priatei money in the Treasury, provided
(1) that at no time can any stocknoider or
stock holders demand In any month to be
paid for Withdrawals OF stock more than
one half of the current receipts for that
month nor (2) before the expiration OF
thirty davs from the date OF filing with the
secretary their written notice OF with
drawal
Withdrawals OF Stock Payments to
Liquldate Indebtedness Of Cor
pOration.
In the event any stockhoder fails to APP
pear and settle any interest or premium
payments or fines, on or before the date
same Is due, or any other indebtedness
within ten DAYS from dat1 OF notil cation.
the Secretary shall have the authority the
following day or subsequently not Soon
er paid to withdraw from stock payments
made heretofore by said stockhoider. or
from anv other fluids In tne han1> OF fhe
corporation to his credit, the amount due
and to impute same As provided in Article
s of this charter. subject to the stock
holders right to have correction, therear-
ter made if any inaccuracy is prov:nsn
said charges or imputation, without dam
ages.
Transfer of Stock.
No shares will be transferred except on
the books Of the corporation, and the per-
son to whom the shares are SO transferred
shall receipt for same and shall thereby
recognize the charter binding upon him
or her.
On the death Of any stockholder his or
her legal representative shall be entitled
to assume control of said stock, and trans
fer the same to his Or her name.
Vrausfor Or TnSt llImpnt Stock to
Dayton Stock.
Upon the request OF any owner OF In
stallment stock unpledged; or by mutual
consent of the Board and the owner OF
pledged instalment stock; or whenever
any Installment stock, pledged or free
monthly payments thereon, and the owner
of same fails to pay arrearage within ten
days from notifications; the Boarl N y,
without impalriny any of the rights OF tue
owner to membership, transfer the with
drawal value thereof from Installment t.
Dayton Stock. exchanging the same mum
Der Of ID ton shares for the same number
OF Installm mt shares, cancellins the shares
| received and issuing the new shares, sub
ject to such pledges AS existed against the
shares accepted In exchahy. aud cancelled.
ARFICLE3.
Dividends.
At the close of busih tss, June 3)th and
December 3lst Of each year, sD,ctively
| the Directors shall ascert tin the profits Of
| the corporation for the six III )nths period
| then en- ling. aud out of such profits, they
| shall II deduct all expenses and losses, ,
| then ri Set aside to funds for "Contin
gent losses" and "Reserve", such amGlnt>
| as they deem best, u It'll sad fun Is shall
| amount respectively To such percentage OF
| all outstanding loans. AS shall be fixed by
the Board, which shall not be less than
| tn 1t required by law, then t3) App)rtion
| the dividend stue To Full Paid STOCK, at a
rate to be at that time tiXe |, whlcn my
be less but shall not exceed that app)r-
| toned to the other classes OF stock. then
| (4) The balance Of said profits III who'll
or in p,rt may be declared as dvlden Is t.
Installment AMI Dayton st ,ckhollers, and
| [5l Any balance remaining shall be
| placed to the credit OF un lividel profits,
and at any dividend periol the Board may
declare the undivided profits in whole or
| in part AS a dividend.
! All dividends in each year paid to Full
Paid Stock aud credited to lnstalmen
an Dlyton Stock shall be of dates janu
ary 2ni and July 2ni; and the dividend
rate shall be first declared upon the value
of each stock subscription of date the pre-
ceding July lst or January lst, or upon
| such portion of same AS not withdraw
! AMI then in its discretion the Board may
declare further dividend at the same Jr
| a lower rate upon the current stock SUBJ
| ScTlptiOus pau III uuIluS INC " oCcut"e
six months, or upon such portion OF same
as not Withdrawn, computed upon the
amount and time of each payment.
| ARTICLE 10.
| Loans to stockholders.
1t shall at all times be entirely within
| the discretion of the Board Of Directors to
| lend to any stockholder not exceeding
nine tenths of the Withdrawal value OF hi,
stock payments, or to advance him al. or
| part of the par value of his stock. design
| ateI respectively II lnstallmeut Loans,
and p stock Loans; with full authority
! to IN AXE such rules regulations and Stipu
latious to govern said loans or advances in
| general and in each individual case, as it
may see proper.
In,tallment Loans.
Any owner of Full PAIL Installm ent or
j Dayton Stock, not already pledged Is
| security. desiring to obtain a loan upon
the cash withdrawal value thereof, must
present written application for suhh
| amount as b. desires. not exceed ne ulns
| tenths of its with travail value; must exe-
cute written pledge of the stock upon
| which the loan Is made. together with all
payments OF lnstallnsnts aud divi len Is
present AMI fu oure thereon; aud mast
| further execute his note in favor Of the
| corp Jration f)r the full amount Of the
loan with interest at the rate Of eight per
cent per annum from date until pad, aud
| to be payable within one yetr. rhc Sec
| retary shall htYe fun auth 'rty to IN Ike
| such loans without referenc, to the Board;
provl led that at any meeting the Board
| may require future applications to be re
| ferred to it for ap proval AID may at any
| meeting fix the interest at Il lesser rate
| than eight per cent per annun.
Stock Loans.
| At any meeting Of the Board of Direc
| tors, the Board shall have the right to Offer
| to advance the par value Of InstaIment Or
Dayton stock. to be secured by its pledge
| and additional mortgage OF real estate.
rne offer shall be made in open meeting
and AL applications submitted for same
| must be lnswritin5. In awarding stoch
| 10 ms, preferenc, shall be gwen 20 the
| stockholier Offering to pay a voluntary
| kre mum therefor, either q disc)unt OF