The herald., 1920-12-02
CHARTER

menus WI" -A'| corporation '. '''. '..'.
ions ana fAr ~lo'Nh"la'r1 '"'f''i
ARTICLE " apitM Stock iI'n:"n!-.
-'apltl Nto"k.-Ihr capitol stock ~ 'a'.
ASSOC! nation i MED af ten Ui.l.". dollars.
y. shares issued prior o. '.'"n"g d.
l'-0. shall remain A. ISSUED. AIS provided
~ -N''', '' - "l l"'' mar TOO. ''
--' - ','' go >... ""'' N.."''
go I,'I ", w. IN. TO q" ''- NH i,
w. NV ,.'' '"'' .,-.' ''...' So. l' 100
49, . ''' ''''.'''
''..' ~ '"''' "' CIV ''"'''.
lu~i.IiW"ut shares ln>'a!tiu'n' shares
shall %" paid for iu monthly payments 90
not less ihau MY cents per share H.r
month. When shares arr pledged Hs go.
"uri' Tor rra, estate loans. 'is monthly
payments rat" hH m. ~harrH lHrr ~.H.I
3D." imputed as HEREINAFTER pr"FI.-. ar.
amy #adi'lnNH pay W"nl~ may N' HIl" "'
any time. "r jn any amount. at o." option
OF %" shareholder
Fun Paid stock. Fun paid ~t..t -.al.
Dee issued from time ru time. a~ 'ar Board
/ Of Directors may determine. shall D.. paid
I 'Hr in fun when issued. shall receive aI''
u'ud~ iu cash. and may be- withdrawn or
0I'l"d lu. a~ hereinafter provided.
Dividend, Al IN. end of r,.-v sis,
months m. profits of fN. Association 81. IN
rD credited To- rA. several kinds n. ,,..
/ iu krouurtiuu 10 Tho, .gpifal invested and
after such sums shall have. hrau -,' aside.
for account II Reserve. SUR 'u~ ~ other
fUud> H> ih" Board shall deem r'. GI,I
'"ud~ shall! b" declared. and the amount
tu" on iu~'ailmcu' shares shall h. credited
. thereon IN such manner a~ 10. Board u.H.
. determine, and IA" amount 6u. uu f..
paid ~'"'h shall b" paid Geo Tho N"l.'-- 100
cash. The dividends declared !F DE-. Board
shall Voc final and conclusive upon Hli stock
holders.
. dividends Paid ga TuU .- \yi,lFr,.,.r
. Nh dividends credited i'm pusShonh~ of th.
Association after September l~t IgII. shall
. De considered on withdrawal of shares at
. face value.
! Distribution ON Dissolution Whom pa,
/ ,orror.tinu Shall h.. Ii,.nI,.5 aud IT,. -
/ fairs Hquitat,d. an tho fund, shall be- III.
. yld"d among the shareholders. u..ordiu.
. 20 their respective interests
Liquidation. Whenever all tho install
. I'ut shares outstanding shall hr worth
/ par or far" value. rh" business and affairs
, Of III" Association shall %, Iiuuldar,d hN
; three commissioners selected hy the BOARD
? of Directors from among tl. shareholders
lmpUfation of Payments Payments on
iu~iallmont shares 9ui interest shall hr
. du" aud payahl" al the. Office. of IA, A~~p.
J citation. and HIl payments shan be- i'm.
I pufrd. J. To the reimbursement NJ mon
4 "y~ paid for account OF the shareholder
f To tn" settlement of fines. 3 To N" set
element Of interest du" TO the install
/ m"ut ON shares. Provided that the ORDER
/ OF imputalion may %" changed go the H.
! rr"tioU Of the Board of Directors
reissues Nh"n IN" iuN amount Of th"
/ r,'illI' >lo' ms h'''n suns Fl',H. i.'
.'.'.''" l'iE ISSUE "'" N""I'N from 'liu' 10
l'",'' III PI',' OH ~hHF'S NHl.h may uHt
mainr"d or haN" been cancelled, forfeited
3 OF HIHlua''u.
Limit of lloldiuGS.-No member of this
] Association shall D.. limited ia his hold
ing~ of its shares: but this provision shall
d not interfere with IA" right of the Board
: J." call III shares. 49, herein provided.
Right {" can in Shares. Should there d."
an accumulation of funds beyond the use
of the Association. tn" Board shall have"
N" right. ut its option. 10 call in for re-
d"mptiOn unpl"dgrd iu>tallment shares or
full paid stock. the latter subject 10 the
| 'uh1ltl"hS hereinafter SCI torIh. shares
Nn,'iL '' ''lI'I III ny dlI"ll!lthl' OF IN ~H'H
"'H'r manner as tne hoAFd or directors
may u'I"TInlh'. hach lh>'alIh'ht Shar"
,'"'i NE I'HS'Hltu PluS lH''S'>'' ndS'I on
'H' i'SI u'Nidthu ana 'ayh I"'l paId Shar"
>HaI De redeemed at MS rae" or par Nalu'.
pIuH interest at me Tal' d! >lN per cent
. P'l iHlHA from IH' HdIe OF It's ldSI wv
"'Hu'
ARTICLE N.-DirectOrS and Their Pow
rr>.-The corporate powers of the AS>Ocia-
tion shall be exercised by twenty-five hi
r"rtOrS, each of whom shall own At least
i've shares of the stock of tn" corpora
| ton, and who shall be elected by the
I stockholders on the third Thursday in
/ March annually: each share of stock rep
| resented at said election and not in default
| being entitled TO one vote.
| Method of Election -Notice of said
! .I.,tinn shall be given fnr .t L.,st our
| week by puhIicntion i'm one or more news
| p1prrs pnbIi,b.d in tho civ Of New or
/ I,~,ns said nIrrtion shall Inc Lv ballot and
/ shall Toe held AT The douiciIr of this cor
: poration. under the supervision of three
! riorkboIJ.rS onnoiptaJ Inv tho Ea,rd If
/ Directors az th. last preceding rr.,uly r
| meeting thereof Thu stockholders rrcriy-
ing "A majority of the votes cast shah be