wm ^ .^^ ^7^-^^^-t >►. IMAGE EVALUATION TEST TARGET {MT-3) 1.0 I.I 1.25 |50 '™^" ■U Kb 2.5 2.2 12.0 il ill 1.6 Photographic Sciences Corporation 23 WEST MAIN STREET WEBSTER, N.Y. 14580 (716) 872-4503 CIHM/ICMH Microfiche Series. CIKM/iCiVIH Collection de microfiches. Canadian Institute for Historical Microreproductions / Institut Canadian de microreproductions historiqsas ■ . '3 Technical and Bibliographic Notaa/Notea tachniquaa at bibliographiquaa Tha Instituta haa attamptad to obtain tha bast original copy available for filming. Faaturaa of this copy which may ba bibliographicaily unique, which may alter any of the images In the reproduction, or which may significantly change the iisuai method of filming, are choc^ad oelow. Q Coloured covers/ Couvertura de couleur I I Covers damaged/ Couvertura endommagte Covers restored and/or laminated/ Couverture restaurde et/ou pellicula Cover title missing/ Le titre d« couverture manque Coloured maps/ Cartes gtegraphiques en couleur Coloured ink (i.e. other than blue or black)/ Encra de couleur (i.e. autre aue bleue ou noirei Coloured plataa and/or illuatrations/ Planchea e^ou illrjatrations en couleur Bound with oiher material/ RelM avec d'autres documents D n a Tight binding may cause shadows or distortion along interior margin/ La r« liure sarrie paut cauaer da I'ombre ou de la distorsion le long de In marge intirieure Blank leaves added during restoration may appear within ths text. Whenever possible, these heve been omitted from filming/ II se peut que certainas pages blanches ajouttea lors dune restauration apparaisaent dans le texte. mais. lorsque eels Atait possible, ces pages n'ont pea iti fi(m*es. Additional comments:/ Commentaires supplimentaires: L'Institut a microfilm* le meilleur examplaire qu'il lui a «ti possible de se procurer. Las details de cet exemplaire qui sont peut-itre uniques du point de vue bibliographique, qui peu jent modifier unw image reproduite, ou qui peuvent exiger une modification dans la m^thoda normale de filmage sont indiqute ci-dessous. P"^ Coloured pages/ Pages de couleur Pagos damaged/ Pagea endommagies Pages restored and/oi Pages restaurias at/ou pellicul^es Pages discoloured, stained or futtai Pages dicolories, tachattes ou fiquies Pages de\fached/ Pages ditachies r~~| Pagos damaged/ j I Pages restored and/or laminated/ i~~n Pages discoloured, stained or funed/ I I Pages de\fached/ Showthrough/ Transparence I I Quality of print varies/ Qualiti inigale de t'impression Includes supplementary material/ Comprend du material supplimentaire Only edition available/ Seuie Mition disponible The I to th □ Pages wholly or partially obscured by errata slips, tissues, etc.. have been refilmed to ensure the best possible image/ Les pages totalement ou partiellement obscurcies par un feuillet d'srrata. une pelure. etc., ont M fllmies A nouveau de facon d obtenir la meiileure image possible. The i poss of th filmi Origi begii the I sion, othe first sion. or ill The I shall TINL whic Map: diffs entir begii right requi meth This item is filmed at the reduction ratio checked below/ Ce document est film* au .>ux de reduction indiqui ci-dessous. 10X 14X 18X 22X 2ex 30X 12X 16X 20X J LI 24X 28X 32X The copy filmed here has been reproduced thanks to the generosity of: Seminary of Quebec Library L'exempiaire filmi fut >eproduit grflce d la gAnArositA de: Siminaire d** Quebec BibliothAque The images appearing here are the best quality possible considering the condition and legibility of the original copy and in keeping with the filming contract specificationt. Les images suivantes ont 6tA raproduites avec le plus grand soin, compte tenu de la condition at de la nettet6 de l'exempiaire filmA, at en conformity avec les conditions du contrat de filmage. Original copies in printed paper covers are filmed beginning with the front cover and ending on the last paga with a printed or illustrated impres* sion. or the back cover when appropriate. AM other original copies are filmed beginning on the first page with a printed or illustrated impres- sion, and ending on the last page with a printed or illustrated impression. Las axamplriras originaux dont la couverture en papiar ast ImprimAa sont filmAs en commenqant par la premier plat at en tarminant soit par la derniira page qui comporte une empreinte d'impression ou d'illustration, soit par la second plat, salon le cas. Tous les autres exemplaires originaux sont filmis en commen^ant par la premlAre page qui comporte une empreinte d'imprevsion ou d'illustration et en tarminant par la derniire page qui comporte une telle empreinte. The last recorded frame on aach microfiche shall contain the symbol •— »- (meaning "CON- TINUED "). or the symbol V (meaning 'END"), whichever applies. Un des symboles suivants apparaitra sur la derniire image de cheque microfiche, selon le cas: le symbole ^^ signifie "A SUIVRE", le symbole V signifie "FIN". Maps, plates, ciiarts, etc., may be filmed at different reduction ratios. Those too large to be entirely included in one exposure are filmed beginning in the upfmr left hand corner, left to right and top to bottom, as many frames as required. The following diagrams illustrate tha method: Les cartes, planches, tableaux, etc., peuvent dtre filmaa A des taux de reduction diffirsnts. Lorsqua la document est trop grand pour Atre raproduit en un seui clichA. il est fiimA it partir da I'angia supAriaur gauche, t9 gauche A droitt, et d« haut en has. en prenant le nombre d'imagas nicasaaire. Lea diagrammer suivants llluatrant la mithode. 1 2 3 1 f IE MONmBAL 'J AN ACT m THE PROVINCIAt. LECIII^TUHi IN i845i ■B >,.. THE MONTREAL BUILDING SOCIETY. XncocporateO bg ACT OF THE PROVINCIAL LEGISLATURE IN 1845. For the purpose of enabling each Member thereof to receive out of the Funds of the Society, the amount or value of his or her Share or Shares therein, to erect or purchase one or more Dwelling House or Houses, &c. &c. MONTREAL : PRINTED BY STARKE AND CO. 1845. Mt « PROSPFX'TUS OP TUB MONTREAL BUILDING SOCIETY. INCORPORATKO BY ACT OF PARMA MEN T. Bivettova^ JOHN LEEMING, ESQ. ROBERT SCOTT, ESQ. C. H. CASTLE, ESQ. J. T. BRONDGEEST, ESQ. J. M, TOBIN, ESQ. JOHN T. BADGLEY, Treasurer and Secretary. GEORGE GRUNDY, Assistant Secretary. W. N. CRAWFORI . ubtic. WILLIAM SPEAR Shares £lOO each — I per Share — Entrance i:c bscription 10s. id, per Share. The object of this Society is to enable individuals to invest their savings in the purchase or erection of Buildings. A Tenant, in about ten years, pays his Landlord in rent, a sum equivalent to the value of the House he occupies, and yet, at the expiration of that period he has no interest in the property — but by becoming a member of this Society, he will be enabled to purchase or build a house, by means of a loan granted to him foi that parpo.-.*-, repayable by monthly instalments, little if any more, than the rent which he otherwise would be paying ; with this advantage that he becomes the proprietor in ten or twelve years, and frequently in much less time. The working of the Society is as follows : — Each member pays a monthly subscription of ten shillings for each share of £100 subscribed for ; thus a holder of one share can borrow or purchase £100 — five shares, £500, and so on in proportiou to the number of shares he holds. The money which the Society will have to loan, will be offered to competition monthly, when each member will have an opportunity of purchasing to the extent of his shares. The borrower or purchaser, before receiving the amount, must deposit with the Secretary, the par- ticulars of his securities, which will then ba visited by the Inspector, and the titles investigated, and should both prove satisfactory, the money is ad- vanced, charged at the rate of six per cent per annum. Should the borrower desire to ereci a Dwelling House, the money is advanced as the building progresses. The utmost safety and protection from risk, are offered to the Capitalists, (as none but Landed or Building Security will be received ; Personal se- curity, however unexceptioutible, will not in any -— V. mr^fm case be taken), but the great and r-iiiMiiij- "j ( of this Society, is to provide for individuals of mo- derate ii-eomes, facilities, whereby, they may have it in their power to invest a portion of their earn- ings in a safe, advantageous and beneficial manner, and to hold out to those classes, an inducement to the exercise of industrious and economical habits, in the prospect of providing for themselves and families, comfortable dwellings from their savings. Owing to the late period of the Session, at which this Society obtained its Act of Incorporation, the Books 01 the Society will not be opened for the transaction of business, before the 1 : '*♦ October next. But parties wishing to avail themselves of its advantages, have an opportunity of obtaining Copies of the Act of Incorporation and By-Laws by applying to Wm. N. Crawford, Esq., Notary Public, St. Gabriel Street, who will also receive the names of intending Subscribers. NOTICE. For the convenience of Subscribers to the Building Society and others, the undersigned has OPENED a REFERENCE or MEMORANDUM BOOK of particulars of Vacant or other Lots for Sale in the City or its neighbourhood. The advantages of this method to both Buyers and Sellers are evident, and the latter are respectfully invited to furnish descriptions, prices, &c. of their Freeholds to W. N. CRAWFORD, N. P. 25, ST, GABRIEL STREET. to Ot pi m B( H L< th tn or B< M m( th on no a I th an en or wa th( fill wii AN ACT . For the Incorporation of certain individuals under the name and style of " The Mont- real Building Society'* WHEREAS it is desirable to afford encouragement Preamble, and protection to the establishment of certain Societies commonly called « Building Societies^" hr the purpose of raising by small periodical subscriptions, a fund to assist the Members thereof, among the industrious and other classes, in obtaining a small Freehold or Leasehold property ; and the persons hereinafter mentioned, have prayed to be incorporated as a Society for such purposes, m the City of Montreal — Be it therefore enacted, &c. that David Davidson, Cha£, a society H. Castle, John T. Brondgeest, John M. Tobin, John "["^the""* Leeming, John T. Badgley, and Georere Grundv. and P"":hMe their several respective heirs, executors, curators, adminis- trators, successors, and assigns, shall be and are hereby ordained, constituted and declared to be a Corporation, Body Corporate and Politic by the name and style of The Montreal Building Society, for the purpose of raising by monthly or other subscriptions of the several Members of the said Society, and in shares not exceeding the value of one hundred pounds for each share, (such subscriptions not to exceed twenty shillings per month for each share,) a stock or fund for the purpose of enabling each Member thereof to receive out of the funds of the said Society the amount or value of his or her share or shares therein, to erect or purchase one or more dwelling house or houses, or other Freehold or Leasehold Estate, to be secured by way of mortgage or otherwise to the said Society, until the amount or value of his or her Shares shall have been fully repaid to the said Society with the interest thereon, with all fines or other payments incurred in respect there- erection of dwelling houses. 8 Frovito, of,- —and to and for the several Members of the said Society, from time to time to assemble together, and to make, ordain and constitute such proper and wholesome rules and regulations for the government and guidance of the same, as the major part of the Members of the said Society so assembled together shall deem meet, so as such Rules shall not be repugnant to the express provisions of this Act, and to the general Laws of this Province, and to impose and inflict such reasonable fines, penalties and for- feitures upon the several Members o* the said Society who shall offend against any such rules, as the Members may think fit, to be respectively paid to such uses for the benefit of the said Society, as the said Society by such rules shall direct, and also from time to time amend and alter such rules as occasion may require, or annul or repeal the same, and to make new rules in lieu thereof, under such restrictions as are in this Act contained ; Provided that no Member shall receive or be entitled to receive from the funds of the said Society any interest or dividend by way of annual or other periodical profit upon any shares in the said Society, until the amount or value of his or her share shall have been realized, except on the withdrawal of such Member according to the Rules of the said Society then in force. Bnnu8, Sec. not to be uturious. Appoiiit> ment of Directori. II. And be it enacted, That it shall andmay be law- ful to and for the said Society to have and receive from any Member or Members, such sum or sums of money by way of Bonus on any share or shares, for the privilege of receiving the same in advance prior to the same being re- alized, and also any interest for the share or shares so re- ceived or any part thereof, without being subject or liable on account thereof, to any of the forfeitures or penalties imposed by an Act or Acts of Parliament, or by any Laws in force in that part of the Province heretofoie called Lower Canada, relating to Usury. III. And be it enacted. That the said Society, shall and may from time to time, elect and appoint any number of the Members of the said Society to be a Board of Direc- tors, (who shall choose a President and Vice-President,) the number thereof to be declared in the Rules of the m 9 re- I'owew of Director* to be de- clared in tlie Rulet of (he So. cietjr, and of particu. lar one* entered in a book. said Society, and shall and may delegate to such Directors all or any of the powers given by this Act to be executed, who being so delegated shall continue to act as such Directors for and during such time as shall be appointed by the said Society, for general purposes, the powers of such Directors being first declared in and bv the Rules of the said Society, confirmed as aforesaid ; in aW cases where Directors shall be appointed for any particular purpose, the powers delegated to such Directors shall be reduced to writing and entered into a book, by the Secretary or Uerk ot the said Society, and a majority of the number of such Directors shall at all times be necessary to concur in any act of such Directors, and shall in all things dele- gated to them act for and in the name of the said Society ; and all acts and orders of such Directors, under the powers delegated to them, shall have the like force and effect as the acts and orders of the said Society at any General Meeting thereof, could or might have had in pursuance of this Act ; Provided always, that the transactions of such Directors shall be entered in a book belonging to the said bociety, and shall from time to time and at all timas be subject and liable to the review, allowance and disallowance and control of the said Society, in such manner and form as the said Society shall by their general Rules, confirmed as aforesaid, have directed and appointed or shall in like manner direct and appoint. IV. And be it enacted. That the said Society, so to society in be established as aforesaid, before any of (he Rules thereof deXTthe sha be confirmed in the manner hereinafter directed, Z^T sha I, in or by one or more of the Rules to be so confirmed, declare all and every the interests and purposes for which said Society is intended to be established, and shall also m and by such Rules, direct all and every the uses and purposes to which the money which shall from time to time be subscribed, paid or given to or for the use or bene- fit of the said Society, or which shall arise therefrom, or m any wise shall belong to the said Society, shall be ap- propriated and applied, and in what shares and proportions, and under what circumstances, any member of such So- ciety, or other person, shall or may become entitled to the same, or any part thereof; Provided, that the applica- „ ' I r " Proviia FroviM. Olrectori controlahle by the So- ciety, r ■\ Ru\e« of the Society to be en- tered in a book o|ien to public inspectioi. 10 tion tliereof shall not in any wise be repugnant to the uses, nterests and purposes of the said Sooety, or any of them obe decTareS as aforesaid; and all such R«^s..du"ng he continuance of the same, shall be complied with and enforced, and the monies so subscribed, paid or given, or so arising to or for the use or benefit of tl^ said Society, or belonging thereto, shall not be diverted or misapplied either by the Treasurer or Directors, or any other Officer or Member of the said Society entrusted therewith, under such penalty or forfeiture as the said Society shall by any Rule impose and inflict for such offence. V And be it enacted, That the Rules for the man- agement of the said Society shall be entered >nto a book, tS be kept by an Officer of the said Society appointed for that purpose, and which book shall be open at a 1 season- able Ues fir the inspection of the Members of the said Society; but nevertheless nothing contained herem shall extend to prevent any alteration in, or amendment of, any such Rules in the whole or in part, or makuig any new Rules for the management of the said Socie y, in such maniL as by the Rubs of the said Society shall from time to time be provided. VI. And be it enacted. That all Rules from time to time made and in force for the management of the said Society as aforesaid, and confirmed and recorded as ^ore- said, shall be binding on the several Members and Officers of the said Society, and the several contributors thereto, and their representatives, all of whom shall be deemed and taken to have full notic3 thereof by such connrmation and record as aforesaid ; and the entry of such Rules m the book or books of the said Society as aforesaid, or a true COPY of the same, examined with the original, and proved to be a true copy, shall be received as evidence of such Rules respectively, in all cases, and no certiorari, suspen- sion, advocation, reduction, or other legal process shall be brought or allowed to remove any such Rules into any ot Her^Majesty's Courts of Record. VII And be it enacted. That no Rule confirmed in firKuYe i^anner aforesaid, shall be altered, rescinded or repealed, tobe.alier- Rules when con- firmed and recorded to be binding on mem- t)erg and ofHcers. Entry or copy of the rules to be received in evidence. 11 unless at a General Meeting of the Members of the said ^ .u. b, fc)r>ciety as aforesaid, convened by public notice, written or " 8^^""" printed, signed by the Secretary or President of the said '""^"'"'y Society, m pursuance of a requisition for that purpose by not, less than twenty members of the said Society, which requisition shall state the objects for which the meeting is called, and shall be addressed to the President and Direc- tors; whereupon each member shall be notified of .he proposed alterations through the Post-Office, within fifteen days, such meeting to consist of not less than one-third of the Shareholders, three-fourths of whom must concur in such alterations or repeal. <5 Ji"> '^"^ ^^'* ^"u ^'^^', '^^^* *^^ ^"'^^ of the said Ru,e,.haU Jsociety formed under the authority of this Act, shall spe- K'U'"' cify the place or places at which it is intended that the h¥^ r said Society shall hold its meetings, and shall contain pro- offlce.r' visions with respect to the powers and duties of the Mem- bers at large, and of such Officers as may be appointed tor the management of the affairs of said Society. IX. And be it enacted, That the Directors of the said Director. feociety, shall and may from time to time, at any of their "fflceT'"' usual meetings, elect and appoint such person or persons to be Officers of the said Society, as they shall think pro- per, and grant such salaries and emoluments as they may deem fit, and pay such necessary expenses attending the management of said Society, as may be incurred, and shall and may from time to time elect, when it shall be deemed necessary to carry into execution the purposes of the said Society, for such space of time, and for such purposes as shall be fixed and established by the Rules of the said Society, and may from time tc time discharge such person and persons, and elect and appoint others in the room of those who shall vacate or die, or be so discharged ; and all and every such Officer or other person whatsoever, who Shall be appointed to any office, in any wise touching or con- cerning the receipt, management or expenditure of any sum of money collected for the purposes of the said So- ciety before he shall be admit*. H to take upon him the execution of any such office or trust, shall become bound in a bond m such form and for such an amount as the Di- Securities to be given for offlcei of trust, if required. 12 11 1:1 rectors may determine, with two sufficient sureties, for the just and faithful execution of such oOice of trust, and for rendering a just and true account, according to the Rules of the said Society, and in all matters lawful to pay obedi- ence to the same. X. And be it enacted. That it shall and may be law- rea"«utl ful for the Said Society to take and hold any real estate, SUfor"ii: or securities thereon, bond fide mortgaged, assigned or hy- ta"»".nu pothecated to the said Society, either to secure the pay- money^'"' ment of the shares subscribed for by its Members, or to secure the payment of any advances made by, or debts due to the said Society, and may also proceed on such mortgages, assignments or other securities, for the reco- very of the monies thereby secured, either at Law or in Equity, or otherwise, and that the said Society shall have the power of investing, in the names of the President and Treasurer for the time being, any surplus funds in the stocks of any of the chartered Banks or other public se- curities of the Province, and that all dividends, interests and proceeds arising therefrom, shall be brought to ac- count and applied to and for the use of the said Society, according to the Rules thereof. XI. And be it enacted. That if any person appointed to any office by the said Society, and being entrusted with, and having in his or her hands or possession, by virtue of his or her said office, any monies or effects belonging to the said Society, or any deeds or securities relating to the same, shall die or become a bankrupt or insolvent, his or ?*«:"_*!??.! her executors or administrators, or assigns, or other per- sons having a legal right, shall, within fifteen days after demand made by the order of the Directors of the said Society, or the major part of them assembled at any meet- ing thereof, deliver over all things belonging to the said Society, to such persons as the said Society shall appoint, and shall pay out of the estates, assets or effects of such person, all sums of money remaining due, which such per- son received by virtue of his or her said office, before any of his or her other debts are paid or satisfied, and all such assets, estates and effects shall be bound to the payment provuo. and discharge thereof accordingly : Provided always, that &c. to pay money due to theSocU ety (before any other debts) by individual! holding of- fice in such Society. 13 the same be not paid or satisfied to the prejudice of mort- gages or privileges on real estate, and of liens or privileges on personal estate only, duly executed previous to the ap- pointment of any such officer. XII. And be it enacted. That all real and heritable property, monies, goods, chattels and effects whatever, and all titles, securities for money or other obligatory instru- ments, and evidences or muniments, and all other effects whatever, and all rights or claims belonging to or had by the said Society, shall be vested in the President and Treasurer of the said Society for the time being, for the use and benefit of the said Society and the respective Members thereof, their respective heirs, executors or ad- ministrators, according to their respective claims and inter- ests, and after the death or removal of any President or Treasurer, shall vest in the succeeding President and Treasurer for the same estate and interest, as the former President and Treasurer had therein, and subject to the same trusts, without any assignment or conveyance what- ever, and also shall for all purposes of action or suit, as well criminal and civil, in law as in equity, in any wise touching or concerning the same, be deemed and taken to be, and shall in every such proceeding (when necessary) . be stated to be the property of the persons appointed to the offices of President and Treasurer of the said Society for the time being, in the proper names of such President and Treasurer, without further description, and such per- sons shall, and they are hereby authorised to bring or to defend, or cause to be brought or defended, any action, suit or prosecution, criminal as well as civil, in law or in equity touching or concerning the property, right or claim aforesaid, of or belonging to, or had by the said Society, and in all cases concerning the property, right or claim aforesaid of the said Society, may sue and be sued, plead and be impleaded in their proper names as President and Treasurer of the said Society, without other description, and no such suit, action or prosecution shall be discon- tinued or abated by the death of such persons, or their removal from the offices of President and Treasurer, but shall continue in the proper name of the persons commen- cing the same, any law, usage or custom to the contrary EffecU of thei)ocie '^'" f'''' ""'^r'^ be exonerated ""' saTsocief ^ ^ '" °" ^° *^^ liabilities of the rliS So^ifv'ch.n"'^ ^^i' enacted, That the Rules of the said of fund, to omcer thereof, shall once in every year at east, prenare - n,e.. or cause to be prepared, a general statement of IheZJs and eftects of or belonging to the said Society, specifying 'I y:7^^.^"«^o^y o; possession the said funds ir effects shall be then renriaming, together with an account uf all and every the various sums of money received and expen- ded by or on account of the said Society, since the pub- lication of the preceding periodical statement; and every such periodical statement shall be attested by two or more Members of the said Society, appointed Auditors for Xt purpose, who shall not be Directors, and shall be counter- Signed by thr. Secretary or Clerk of the said Society, and every Member shall be entitled to receive from the said diarge!' ^ """^^ '"'^ ^^""^''^^ '^^^^^^^^^ ^^^h«"^ fKJ^r* . u "n u ® '* enacted, That the word « Society" in tlA fj^^ understood to include the said Building Society and Institution, the word " Rules" to includf Rules, Orders and Regulations, and every word importing the singular number, shall extend and be applied to several persons and things as well as one person and thiw! and bodies corporate as well as individuals, and everfword mporting the plural number, shall extend and be IpTed tLr LT" "' *^"!f '• ^' ^^" ^' '^'^'^^ persons and things, and every word importing the masculine render only, shall extend and be applied to a female as well as a male, the words "Real Estate" shall extend and apply to Construc- tion of Act SiHRHlar number. Plural number. Gender. 15 gages and hypotheques and ?n "^l'^ '° Privileges, mort- upon personal estate and nrL f^f/ll^*' «"^ P"'^i>3ges cIud/Mem'uers and Hn^nT U V^^^'ber" shall ?n- Actsnallexte dto Ai?eri;i'^^^ ^"^ that this make them subLt th«l ? * ^^"'^^ns and females, both to benefits given SeLvti.'rr 'V''''[' '^'"^ '<> «" the in the most benefic Si L /^"' "^"^ 'h^" be construed by intended '''^ "'"""'' ^^'^ P'-°'»°t«'ng theends there- 1 ?^Ii'M^i;S^^ be deem. General rule. rd a public Act VnH"k°!.' ^^^ ""' '*<=' ^h'" be deem- r., . as such hv „li I..™"" *"? »» judicially taken nnfi™ „f pEo! as such by all Juds™ Ju,l.. ^A^t"' '"''™ •«"'« "f -. wit/ou. .He sS M^Sl^sK r^^^ BYE-LAWS BEQULATTNO THE MONTREAL BUILDING SOCIETY. I. — That the Stock of this Society shall consist of Shares of £100 currency e?ch, payable by monthly pay- ments of ten shillings per each share, on the first Monday of each month, commencieng the first of October next. II. — That a general meeting of the shareholders shall be held, at the office of the Society, on the first Tuesday in the month of August in each year, for the purpose of electing Directors and for all other general purposes relating to the management of the Society ; and at the said general annual meetings, shall be submitted a full and clear statement of the affairs of the Society for the previous twelve months. III. — That the affairs of the Society shall be under the control and management of five Directors, with authority to add to their numbers. IV. — That a Treasurer shall be appointed, who will also perform the duties of Secretary, and who will have the control and management of the office duties belonging to the Society. V. — That for the election of Directors, every shareholder holding 5 shares or less, shall be entitled to record J vote. If he hold 6, 7, 8, or 9 shares, 2 votes. If 10 shares 3 votes. If 15 shares, 4 votes. If 20 shares, 5 votes. 17 But no shareholder shall be entitled to more than five votes. VL—That ♦he elections shall be by ballot; and the Di- rectors so elected, shall, on refusing to serve, be subject to a hne not exceeding twenty-five shillings. AH other questions at general meetings shall be decided by a ma- jority of members actually present,-the Chairman having a casting vote, in addition to his vote as a member. »v, Ti"i:~"P*-V^^ majority of the Directors, one of whom shall be President or Vice-Piesident, shall constitute a quorum. In the absence of both President and Vice- President, the Directors shall appoint a Chairman pro tern. and be competent to transact the business of the Society on Board days; it shall also be comp3tent for the Sec- retary, with the concurrence of the President, or in his absence the Vice-President, to convene an extra meeting of the Board of Directors, whenever business of sufficient importance shall make it necessary. VIII — That the Treasurer and Secretary shall be em- powered to receive and pay all monies owing to or due by the Society, and his receipt shall in all cases discharge the person paying the same. It is also incumbent upon the Treasurer and Secretary to keep a proper cash book, where all monies received and payments made are to be regularly and correctly entered ; and that he deposits daily with the Bank such funds as he may receive ; and that no monies can be drawn from said Bank without having the signature of the President, countersigned by the Treasurer. IX.— That the proceedings of the Society shall be entered m a minute book, detailing the transactions of the Society each day ; the minutes to be signed by (he President or Vice-President, as well as Treasurer and feecretary. X.— That books shall be opened for keeping the ac- counts of the Society; also a registry, wherein the name and pla^ of abode of each Shareholder shall be entered by the Treasurer and Secretary. 18 XL— That each member changing his or her residence, shall give notice to the Secretary in writing, vvithin one month after such change, or be fined 25. 6d. at the sub- sequent monthly meeting. XII. That there shall be two or more inspectors, whose duties will be to examine and determine the value of all property offered to the Society as security for Joans, and to report the same in writing, stating their opinion of its value the same to be inserted in the minute book. XIII. That every member shall, until the object of this Society hf- attained, or so long as he or she shall con- tinue to be a member, pay ten shillings per share per month ; and in default thei-eof, shall pay a fine of 3d. per share for the 1st month, Qd. " " 2nd " 1^. « « 3rd « doubling the fine for each succeeding month, till the expiration of the first six months. XI v.— That any member being ddsifoUs of withdrawing from the Society, may, on giving one month's notice in writing to the Secretary, be allowed to-do so, and receive bacVe the net money by him or her sut?scr4bed, less ar- rears, fines, interest, and a forfeiture c^. tWfetity bhilhngs per share. XV. That each purchaser of shares, at the monthly sale, shall deposit with the Treasurer five pounds, which shall be forfeited, unless he produce, within ten days, security satisfactory to the Board. \VI.— ' 'hut after inspection of the property proposed, the pui chaser shall, if the security be approved, execute a mortgage or transfer, before the Notary of the Society, to the saSsfaction of the Directors, at his or her own cost, securing the re-payment of . i monies advanced, with interest" at the rate of six per cent, per annum, which mortgage shall contain a covenant by the mortgagor to insure his buildings comprised therein from loss by fire for the full amount of his or her advances, which policies _ '\ I 19 of insurance must be re^^ularly end'^rsed over and de- posited with the Treasurer and Secretaiy ; and also a power to the Society, in case the mortgagor shall neglect to pay his or her subscriptions, fines, and forfeitures to the Society for the space of six months successively, to collect the rents and proceeds thereo., and to sell such premises by public auction or private sale, on the most advantageous terms, without any further consent or con- currence of the mortgagor, and apply the proceeds, after payment of all expenses attending such sale, to the re- payment of all monies advanced, as shall remain unpaid, with the interest and fines up to the day of payment. XVII.^ — That after such mortgage or transfer shall have been executed, together with such policies of insurance, and other securities, as thv Directors may require, the mortgagor shall at once receive the amount of the share or shares purchased by him or he'*, deducting therefrom the bonus on said money; or if he or she be building a dwelling-house or houses, such amount will be advanced upon a certificate fr&m the inspectors as the Directors shall determine, ^according to the progress of the work erecting, — the builders' privileges being al ransferred to the Society. -' - ■. , - ' XVIIL--That^**® ^'''®<^*°''^ ^^*^^ ^^^® the power to renew from time to time, already effected insurances from loss by fire, of all buildings mortgaged to the Society, and to pay the grobnd fents of all premises mortgaged out of the funds of the Society, as such policies and rents be- come due ; which policies of insurance and rents shall be charged to the mortgagor, and repaid by him when the following month's subscriptions fall due, or forfeiture of 2s. 6d. tor each month in default. XIX. — That any person hereafter entering the Society, (except as transferee, legatee, or legal representat e,) shall pay the full amount of subscriptions which shall have been paid by the original shareholders from the date of the formation of the Society ; those joining within six months, shall pay interest only, and after that, a propor- tionate bonus besides, according to a scale to be drawn up hereafter. 20 XX —That all premiums or bonuses, fines or forfeitures, and interest, shall form the general fund of the Society. XXL-That a meeting shall be held, on the first Monday of every month for the disposal of such funds as the Society may have to loan, of which due notice will be given. XXII.— That all persons, upon taking shares in the Society, must sign the Bye-Laws in the minute book. XXIII.— That any shareholder may transfer his or her share or shares, the^ame and place of abode of such ranferee, legatee, or legal representative, shall be in- serted in the registry boSk, a memorandum of which he or he sLl sign,^nd also these Bye-Laws, upon payment Ss^feTper each share, and he or she shall thereupon be deemed to be the original shareholder. XXIV.— It shall also be in the power of the Di- rectors to make such arrangements with any of the char tered Banks of this city, for the deposit of their mones and securities, as well as the conducting of the financial concerns of the society, as they may deem necessary. XXV —That the President, Vice President, and the Di- rectors, 'named at the formation of this Society, and those hereafter to be named, shall be indemnified out of the funds of the Society or otherwise by the members thereof from all costs and charges of prepanng -"d^^^^^^J^^^^^ these presents, as well as all expenses ^^^'^^^^^^^y J^ after be .ncurred in the formation and conducting of the Society. 21 COVENANT. And for the due and faithful observance and performance of all and every the Articles, Rules, and Regulations, each of the members of the Society, who have here- unto set and subscribed their hands and seals, doth hereby, for himself and herself, and his and her heirs executors, and administrators, and for his and her own acts and deeds only, covenent and declare with and to all others and every of them, that he and she, and his and her heirs, executors, administrators and assigns, shall and will faithfully and truly observe and perform and keep all and singular the Rules, Articbs and Re- gulations hereinbefore contained, and which on his and her part are and ought to be observed, prepared and kept. As witness their hands and seals.