Page 6 Advertisements Column 1

Southland Times, Issue 1713, 11 March 1873, Page 6 (Supplement)

Public W •tfoe. to the length of time he has been a holder of such unadvanced shares — shareholders of three years' standing receiving three-tenths of the said profits, four years four-tenths, and so on increasing «Kje~tentb for each succeeding year.^ The remainder of the profits standing at the credit of any shareholder withdrawing shall be credited to "•Reserved Profits" account [excepting in the withdrawal of A shares, when the balaneeof profits accruing to the Society shall be credited •to " Eeserved Profits" account A.] Applications for withdrawal shall be considered and granted by the Committee in the order of priority of the date* on which these applications •hall have been received by the Secretary, and payment shall be made to such applicants as aeon as the Committee shall have sufficient funds at -their disposal, and not otherwise. XVIII.— AS TO MBMSBBS BECOMING LUJTATIC. In case any member (not having received any advance) becomes lunatic, or of unsound mind (and as evidence thereof a medical practitioner's •certificate shall beseemed sufficient), it shall be lawful for the Trustees to refund tbe amount paid in by such member, together with the same proportion of profit* as members withdrawing are entitled to, and the Society shall not be -answerable for the misapplication or the nonapplication of the moaey so paid. XIX.— 'DEATH Or SHAREHOLDERS. -Shares of the Society, on which no advance has been made, -shall, on the death of a shareholder, belong to his or her executors or administrators with all tbe benefits and under all tbe conditions thereto attached. Upon the death of a shareholder holding shares on which an advance has been made, the party having right to the property in respect of which the advance has been made shall be deemed to ibe the shareholder, and shall be liable to fulfil 4he whole obligations incumbent on such deceased .-shareholder to the time of his or her death. XX* —TRUSTEES. William Hugh Nurse/ Esq., Samuel Hodgikinsoa, Esq., and Lacblan M'Gillivray, Esq., -and the survivors and survivor of them, or *uch other person or persons as may be appointed to act with or after them, or any of them, shall be the Trustees of the Society ; and in case of the death or resignation of any or all of the before-named Trustees, the Committee •hall cause to be called a special meeting of the shareholders,. who shall appoint Trustees in bis or their room, and all the interest and power of the original Trustees or Trustee, shall vest in •uoh new Trustees or Trustee immediately on his •or their appointment, alone or jointly with the surviving '. or continuing Trustee or Trustees as ,ihe case may be. All monies belonging to the Society shall be lodged in the name of the Trustees of the Society in such Bank as the Soßety may from time to time appoint. All deeds, writings, and securities to and from ■the Society shall be made and taken in the name -of the Trustees for the time being ; those in favor of the Society shall be deposited in a box •or iron chest to be lodged with the Society's "bankers, or such person as the Committee may appoint. The Trustees shall not be answerable for the •other or others of them, or for the acts, deeds, or defaults of the other or others of -them? but each and «very one of them only for <his own act*, deeds, neglects, or defaults respeottively.; and <tbey -or any of them shall not be ac•eountable for any banker or other person with whom any part of the money' or property (belonging to Ibis Society shall be deposited, or for aay misfortune, loss, or damage, which may "happen in the execution of the powers and trusts <hei«in -contained, or in relation thereunto, except tbe same saall Itappen by or through their own <wilful default, respectively. In case it «hall be necessary or expedient to ■bring or defend any action, suit, or other pro•eeediof at law or in equity, touching or concern* ing the property «r assets, rights or claims ef the Society, «r touching or concerning the breach or non-performance of any of the articles, matters, and things herein contained, or of the conduct of any member or officer of the Society, the same •hall be brought or defended by or in the name of tbe Trustees for the time being, aad they shall be indemnified from all loss or damage that may be sustained by them in -consequence thereof ; but j no sueh proceedings shall be taken or defended until the approbation of tbe majority of the Society present at a epeoial meetiag to be convened for that purpose shall be first had and obtained. Upon the resignation of any Trustee or Trustees, he or they may require a bond or other -deed of release and indemnity from the Society, ••curing him or them from all future liability on account thereof, which bond or deed the Comaaittee for the time being are hereby authorised to execute and deliver, signed by the President and two of their number, for and on account and behalf of all the shareholders ef this Society ; and which shall be as effectual to bind them and the property acd effect* of the Society, as if made, executed, and delivered by eash member thereof. XXI.— SOUOITOB. A Solicitor or Legal Agent may be appointed bj the Society, who shall examine the Title Deed* of property offered as security, and prepare mortgages and other writings when necessary ; and tarnish the Committee with all necessary instructions relating to sueh properties as may be otexed or conveyed in security; the cost of which •ball be borne by the parties proposing *ucb properties. xxn. — ivstetob. Jl Horvejer may be appointed by the Comaaittee, who shall examine all properties on which his opinion may he required j and within one week after be hat been requested to value aay property, he •hall report thereon in writing to *be Committee. Be shall receive such remune* xaMom fox his service* as the Committee may