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disposes of funds left in hand or in current account; it decrees the regulations relative to the organization of the services, as well as regulation of administration and the internal management •it fixes and modifies the tariff, under Government approval; it appoints suspends and dismisses all agents and employees, determines their powers fixes their pay salaries, and allowances, and, if it is required, the amount of their security (fidelty guarantee); it consents to the restitution of the security; it authorizes all actions at law; it negotiates comes to terms, or refers to arbitration concerning all things connected with the society; it touches and receives all moneys due to the society; it gives withdrawal of all mortgage-deeds, and surrenders the actual rights covered by the'documents; it gives equally withdrawal of distress warrants and attachments, the whole without having to be justified by the extinction of the debts to the society; it furnishes an annual report upon the society's operations and position to the Government The preceding does not limit the powers of the administrative council, which is invested with all the rights which may be lawfully conferred upon it. Clause 18 —The administrative council meets on the summoning of the president, or at the request of two of its members. The presence of a majority of the members is necessary to form a quorum. Decisions are carried by a majority of those present, and in the event of a tie the chairman has a casting-vote. Clause 19 —The president can suspend the execution of any decision which appears to him contrary to law, the present statutes, or the interests of the State. He advises the Government accordingly, and if within a fortnight of that advice the Government does not legislate the decision may be carried out. Clause 20 —The deliberations of the administrative council are recorded in a minute-book kept at the headquarters. This book is signed by the members who have taken part m the discussion. The copies or abstracts are signed by the president and by th«j general manager In case of obstruction by the president the copies or abstract are signed in his room and stead by the vice-president or by two administrators. Clause 21.—The Government has the right to have all registers and information produced if it judge it necessary to exercise its control over the operations of the society. Clause 22 —General Manager : The director-general is nominated and may be retired by the King His salary is fixed by a decision of the administrative council, approved by the Government. He has in addition the right of 4 per cent, on the profits in excess of the first dividend due to the shareholders, but this additional sum. must not exceed 10,000 francs. Clause 23 —The general manager is responsible for carrying out the decisions of the administrative council He assists with a consultative voice at the meetings of the council. The daily management of the affairs of the society is confided to him. He represents the society m all its dealings from day to day, for which he renders an account to the council. He acts m all legal actions. He signs all conventions and acts resolved upon by the council. Clause 24.—Supervising committee : — Old. New - The supervising committee is composed of six The supervising committee is composed of nine commissioners elected and retired by the commissioners elected and retired by the general meeting. general meeting. Each province must be represented. The appointment of the commissioners is annual, As before. and may be indefinitely renewed. Members shall record the number of their attend- As before. ances at meetings, for which the allowance shall be fixed by the general meeting. Clause 25 The committee gives it advice on matters submitted to it by the administrative council The 'members have unlimited right of supervision over all operations of the society. It can peruse, but not remove, the books and correspondence, minute-book, and generally all documents The right of individual supervision may be exercised by one or more of the members delegated by the committee. There is submitted to them each half-year a short statement of the financial position. The committee may submit to the general meeting the result of their mission, with the suggestions they consider desirable, and make known to them the method by which they have conducted the investigation. Chapter IV. —Accounts', etc. Clause 26 \ special account is kept for each line conceded. It includes the expense of establishment, upkeep, and working. The share of each line in the general expenses of administration of the National Society is determined according to the proportion which it supplied of the gross revenue of all the lines. Clause 27 The surplus over expenses by which a line should settle its account will be advanced by the National Society. It will be advanced at its risk and peril, save that it may deduct the amount advanced from the first profits which the same line produces during the following years If the National Society abandons the working of a line before having recouped itself for the whole of its advances the part not recovered remains a charge, and will be deducted from its reserves.