IMAGE EVALUATION TEST TARGET (MT-3) h c (meaning "CON- TINUED"), or the symbol y (meaning "END"), whichever applies. Un des symboies suivants apparaitra sur la dernidre image de cheque microfiche, selon le cas: le symbols — ► signifie "A SUIVRE", le symbols V signifie "FIN". Maps, plates, charts, etc., may be filmed at different reduction ratios. Those too large to be entirely included in one exposure are filmed beginning in the upper left hand corner, left to right and top to bottom, as many frames as required. The following diagrams illustrate the method: Les cartes, planches, tableaux, etc., peuvent §tre film6s A des taux de reduction diff Arents. Lorsque le document est trop grand pour Atre reproduit en un seul clichA, il est fiimA A partir de I'angle supArieur gauche, de gauche A dro'iie, et de haut en bas, en prenant le nombre d'images nAcessaire. Les diagrammes suivants illustrent la mAthode. 1 2 3 1 2 3 4 5 6 THE CHURCH OF ENGLAND AND METROPOLITAN BUILDIN(J 1 • SOCIETY. INCORPORATED FEBRUARY 23, 1850, In accordance mth the ulct of the Provincial Legislature, 9 Vic. Chap. 90. TORONTO: PRINTED AT THE CANADA GAZETTE OFFICE. 1850. < ■ ■■■ M 1)1 ^ THE CHURCH OF ENGLAND AND METROPOLITAN BUILDING SOCIETY. iV? INCORPORATED FEBRUARY 23, 1850, In accordance with the Act of the Provincial Legislature, 9 Vic. Chap. 90. TORONTO: PRINTED AT THE CANADA GAZETTE OFflCK. 1850. Ci) Mon THE The ] JAlVll S. B. Wl the IB ve; whic! as a are \ PROSPECTUS or THE €[)ttrcl) of (ffnglanb anb lltetropoUtan SuUlimfi ^onclg. Incorporated FeBRUiRT 23, 1850, In accordance with the Act of the Provincial Legislature, 9 Vic. Chap. 90, SHARES £lft lOg. each. Monthly SubscripUonB, Is, 3d. per Share; Entrance Fee, Is. 3d. per Share; Transfer Fee, 6d. per Share. JOHN ARNOLD, Esq. President. JAMES BEAVEN, D. D. Vice- President. directors; THE HON. W. CAYLEY, The Rev. STEPHEN LETT, ll. d. JAMES M. STRACHAN, Esft. S. B. HARMAN, Esq. GEORGE BROCK, Esq. P. M. VANKOUGHNET, Esq. G. W. ALLAN, Esq. Mr. GEORGE A. BARBER, Secretary and Treasurer. Solicitors — Messrs. Hjcath and Irving, Bankers— Bauk of Upper Canada. Office — Albany Chambers, While the usefulness of Building Societies, whether as furnishing the opportunity for safe investment, or capitalizing real property, is very generally admitted, it is also felt that the large amount which each share in the existing Societies represents, operates as a denial of the benefits they are intended to confer to all who are unable to pay the present minimum monthly instalment : IT Jy fte establishment of the Ph. u Mo.rop„,i,a„ Building SooU,-,^,"!' "i ^''«"""' and ■r "' 7^ •«. 'hi' impediment, bl t?" '" '*""'^«' «' Shares from £100 each, the standi. f"'« ""« ''^'ue of 'ote generally i„ „,«, 0^,2^0^";^ ""'""' "PPears noj «;»'« field of operaion, a„V!nP ''"""•"""San.ucr •''■".«ion of . Class of i d mLTs;? "^ """ ''" ""e ""» young and thriving coun n- 1:,^' T' ""'"•''ous i„ r: ------ ^'Sr^rp-^^^^^ •'"^ "o 'h-»Pportofa c:„":'';7''---ofcon,r;'„! "■^ e'^ction of churches, parsot J f ""^ ^'"■™™'y. or ■ke coming more .mmedirte;:^;;; ;f""-'—> an J'the « Church of England Buildin. Sol. f'^^ ^"^ '"'«"! of be furnished by subscribing fl!.^' ""^ "PPo^'unily will "ameof such Institution, a. ^sr,;'"""^ '"'='«» '» ^ "harge of giving permaien a? T"""^ " ""arterl especial interest. °' '"^ '» «>e object of their Viewed as a mean= „f • . ^r^is; T^-^ SsIt; --- • '-.theneddiss:;ar."'^"™<"' » ""o -''Clt,^: I They possess to a certain a f «<^vance m^y' b; ^^ ^''^-^ ^«'^ Z? "* personal securitv_m ^ ' '""n but on resl • . """y *e pnviie J f rror^"^* ">» ti'i':^ t™ t' --«^li..upe„or to personal ,7c„ri7 of England and! •ed to remove, as ;ing the value of, 'ch appears now nbracing a much f^e door for the ost numerous in ' same time the *vith pecuniary •^ a plan will '"ate gradual manner of a us of contribu- ^niversitjr, or ouses, and the ' and intent of Portunity will hares in the ' or quarterly '®ct of their >a^ property, >een a/ready "■s and the *o require •haracter of bhshmenf. the accu- setout at lent they place of ' through P.tufi tU I. t/iijij security. The interest paid by Savings Banks on deposits is limited to five per cent, those Institutions being restricted in their investments to Bank Stock and Government Debenturee, while the premiums permitted by Statutory enactment to be received by Building Societies in making loans to their Stockholders, raise the average of interest in favor of the depositor with the latter to 10 and 12 per cent. The following short paragraph taken from the prospectus published by the Toronto Building Society may not inappropriately be quoted by way of conclusion to these remarks. « As institutions of this nature have stood the test of a quarter of a century's experience in England (where abundance of money could always be had at a low rate of interest), their principles having, during that period, been thoroughly and satisfactorily elucidated, it is but reasonable to assume that in this country, where the comparative scarcity of money increases its value in direct proportion, the profits and advantages arising from a society of the same description, properly conducted, will place its success beyond a doubt. The rules of the Church of England and Metropolitan Building Society, have been compiled from those of the Toronto, Upper Canada, and other Societies, which have now for some time been in successful operaticn, with such alterations and additions as experience has shewn to be desirable or as have been deemed essential to the accomplishment of the objects which this society has more particularly in view. •^ CH proj esta and in c are desi tion or li rec( gOO( pai filia api me no mc as at thi RULES or THS / CHURCH 01 ENGLAND AND METROPOLITAN BUI-LDING SOCIETY. I. That the intents and purposes for which this Society is projected are to enable the members thereof to contribute to the establishment and endowment of a Churcn of England University, and to build and endow Churches, Parsonages and Schoolhouses in connection with the Church of England. But although these are its principal objects, it is not intended to exclude parties desirous of investing funds therein with a view either to the acquisi- tion of freehold or leasehold property, the removal of incumbrances or liabilities upon property already held by them, or the benefit of receiving the amount of their shares in advance upon furnishing good mortgage security. II. That all moneys which shall, from time to time, be subscribed, paid*, or given to or for the use or benefit of the society, or which shall in anywise belong to the society, shM: be appropriated and applied, in the first place, in loans or advances to the several members, and towards the necessary expenses of the society ; but no member shall be entitled to receive, by way of loan or advance, more than the amount of his share or shares subscribed for, except as hereinafter provided : if not taken up among the members, any funds may be otherwise invested for the benefit of the society, at the discretion of the directors, of which members may, never- theless, avail themselves. ' ^JJ Th 1 '"'«■•«»« upon the TJ '^"'^ "<" '^«« 'lian T ^"^"' ^''"""ce .hei J '"bacribed f ' ^"'f P"" ™'='"»'mber ofl '" "Paj^en, ofbi! ''""P^r cemurn per «n ^'^^"^ ^"d (hat inJ ''""* «^ such ''^''^^ ^or the nextVnr"™ '' '''" ^"^vved u^^' '* ^^^ ^^^e o ■"anagement of » 7 ""^ '«"='>^emdent, the ^'e power to '"j shal/ be '•d days. ot; ind at ^ "• person VIII. That the Directors elected at the formation of the society, >r hereafter to be elected, shall continue in office till the election of eir successors, unless in case of disqualification or resignation. IX. That the Directors may make arrangements with any of the chartered banks doing business in the city of Toronto, for the ■deposit of moneys and securities belonging to the society, and for conducting other financial concerns, as they shall from time to time deem necessary. X. That a seneral annual meeting of the members shall be held at the office or rooms of the society, or such place as the Board of Directors may appoint, on tlie first Monday in the month of M^ .:h in each year, for the purpose of electing Directors to serve for the ensuing year, and for all other general purposes relating to the management of the socic*v ; and at each of the said general annual meetings, shall be submitted a full and clear statement of the affairs of the society for the previous twelve months. XI. That extra general meetings of the members of the society, may be called by the Board of Directors, for the purpose of supplying vacancies in the board, and for other purposes, upon the members being notified of such meeting through the Post Office, or otherwise, at the discretion of the board. XII. That all questions at the annual or other general meetings of the society (except the election of Directors, as before mentioned), shall be decided by a majority of members present, either in person or by proxy ; the chairman having a casting vote in addition to his vote as a member. XIII. That a Treasurer shall be appointed, who shall also perform the duties of Secretary, and who, before entering upon his office, shall furnish security to the satisfaction of the Board of Directors, for the due performance of his duties. XIV. That the Secretary and Treasurer shall be empowered to receive and pay all moneys for and on behalf of the society, and H) ^" receipt shalj i„ ai, ca«e« h. ^ ^««Pacashbook, wheTan ^'"'^^^'^"*^'«^^^^^^ He shall , are to be rp -h p„^„,e according tlTr^: AiX. That th*» C«»eep« as ,ra„sZ? u""" ''*"'""'"« " '"«"''- of ,he - • 11 ^- iJe shall also ' payments made fjall deposit daily anfc without the ce or illness, of the accounts, Society. Je entered In a of Directore signed by the the Secretaiy me of « The ' Institution, or persons, connection this society J subscribe he number D the Form lareholder, )se. 56 duty it ty offered ort his or boots of society, ' pay an XXII. That all persons, upon taking shares in the society, shall sign the rules in a book to be kept for that purpose. XXni. That every member shall, so long as he shall continue to be a member, and until the objects of the society be attained, pay Is.' 3d. per share per month, on or before the day appointed for that purpose j and in default thereof, shall pay a fine of •Id. per share for the 1st month, 2d. " « 2nd month, 3d. « « 3rd month, and so on, encreasing the monthly fine one penny for each succeeding month, until the expiration of one year, after which time, if the instalments remain unpaid, the share or shares of such member, or his representative shall be forfeited. XXIV. That at the time of paying each of the monthly sub- scriptions, each member shall pay therewith towards the expenses of management, 2d. for the first two shares, and Id. for every additional share. * XXV. That each member changing his residence shall, within three calendar months thereafter, give notice in. writing to the Secretary of such change, and of his new place of abode and address, or in default thereof be fined Is. 3d. XXVI. That meetings shall be held on such days as the Board of Directors may from time to time appoint for that purpose, for the disposal of such funds as the society may have to lend or advance, of which due notice shall be given. XXVII. That each purchaser or borrower, at every such meeting, shall, on or before the next day, deposit with the Treasurer the sum of 10s. for each share so purchased or borrowed; which deposit shall be forfeited unless he produce, within thirty days from the day of meeting, security satisfactory to the Board of Directors. XXVIII. That the Directors shall be authorized so soon as the Society shall have entered upon its fourth year, to appropriate one fourth, or a larger amount in proportion as the Society approaches the term of its existence, of the monthly funds at their disposal for the f2 parpose of buying in thfi - neglect to pay his subscriptions, Cj^ " T ""^ ""'^•eagor shall »'== months successively, ,„ take nnl '^*'""-e=. fc' the Space of '» collect the .„„ and'S bCoT::; ''^ 7" '^^ ■"""^'^^ P-W.0 auction or private sale T '.b ° '"' '""'' P'^^'^es by w.«.out any further consen.rcn " '"°^"«'™""'gcous terms, *» apply the proceeds (arte deducrin"' "' "^ ""^'^'^o'' "-"i of whatever may be dL to the '"5 ''''""'^' '" ''^ '"'^'"''■" XXX. That after snrh »« ^ -ccuted, togother wi h surfof.-"' ?""■" '"""' '"'- ^-^n -curities as the director : ay Itrtll-"" """^ °*" rece,ve the amount of the sharrir '\"""'S'S'>r shM a. once a vanced deducting the bonusTg^drreH^^^ more buildings be in progress of er.t ^ *"'"" = »' "" <>»• aerwi« r^ „ Mcieiy. ° *" ^•""^'ion, conduct, JTL ^'" ^" ''='P»''*» ^^I.n«.,eD- ■ "'"' ""'-™ or .he '-o-CZft!"^"'' """'-e 'hem on r*"" ""^ "'^■» ^ «'-^« -*e^tir,::r'^- - '^'•' «-e, ...n m all expenses »gemejjt of the "Je, fix a scale 3 may redeem ne footing as AN ACT To encourage the establishment of certain Societies^ commonly called Building Societies, in that part of the Province of Canada formerly constituting Uj>per Canada, [Passed 18th May, 1846.] WHEREAS it is desirable to afford encouragement and Preamble, protection to tlie establishment of certain societies, commonly called Building Societies, for the purpose of raising by small periodical subscriptions a fund to enable the mem- bers thereof to obtain unincumbered freehold or leasehold property ; — And whereas, by an act passed in the eighth year of Her Majesty's reign, certain persons were incorpo- rated as a society for such purposes in the city of Montreal, by the name and style of " The Montreal Building Society j" and provisions were made for the conduct and management of that society, and certain privileges and immunities conferred upon it j and whereas it is expedient to encourage the formation of similar societies throughout that part of this Province heretofore constituting the Province of Upper Canada, whenever the inhabitants of any particular locality may be desirous of availing themselves of the provi- sions of this act;— Be it therefore enacted, &c.. That when, and so soon as, any twenty persons or upwards, y^j^g^ t^g^ty in that part of this Province heretofore constituting the persons shaU Province of Upper Canada, shall have agreed to con-J^fuJeaBuUd- stitute themselves a Building Society, and shall have signed jng ^^^^^ ^ and executed, under their respective hands and seals, aQo,pojation declaration of their wish and intention so to constitute for that^pw- themselves such building society, and shall have deposited tavmgcom- the same with the Clerk of the Peace in the district in plied with cer- y 16 S: '■""""■ "Woh «hey shall reside r»h , «Mbee„««ed.ort?rL'":,r'? "■»" ""P-" pence), such pe„„„3, a„d ,3, 1"'° '''"""^ ^"^ «« »nw,vards become meX™!.*- J" P'"°"» «' may -hall beonlained, constitutedrrnd 1 "'^""°" ""'' "''«"'• ■"V <=<"Po™tion, body cop',1 1 f'^'' '" '"'' "'"' ^^al ""d "tyle, as a building sod^ a V""; '' '"■='> ''«™ fepo3,ied as aforesaid shalt'„K^"'"'' <'«<='aratio„ so -ame by which the persons .„ ^'" ''^"'"^d «> be .hr -ef-^-oiety ,0 l>X:ZlTr""' '"^ -- -e^- ^'eh ^hare). a stock Tfund r.f'"'"^ ?«' "'""for each membenhereof ,„ ,eleL' I {"'"'"' °' enabling -e.e,y ,he amount or va „e fh"* b "' '""'^ "^'"e^aid 'o erect or purchase one or mo,e d T " """^' •herein, :; ""- '•-hold or leaseh l" Itet r '°''"' "' "<»-» of mortgage or otherwise .„ 1 ' ''^ "''='"'ed by war ;moun. or valu. „f h,:'! « ^^ T''' ^-iety „n«l Z f""y paid ,0 .he said socie y L h T ''"'" '"'^e been "nd with all fines „r liabiH ^'^ ""^ '"'e^w thereon ™'e« shall no, be repugnan „ i " "'^'' =° =" a-ch Calt'' " '? "■« ^^"e'rafla: of . T'^ ''"--'""' of Canada ; and to impose anT^ L "'^ l^™vince or of r7n„= penalties and forfeltLs ll^T """' ""'""""'^ «- «"") -ciety who shall offZ a ' If """' "'^""'e- of the' against any such rules, as the 17 fJg such deposit hillings and six "•sons as may 'ety, and their 'ors and assigns, o be, and shaJl by such name declaration so ••ed to be the ' same desire of raising by f the several ot exceeding share (such ■^ month for of enabhng s of the said res therein, B or houses, ?d by way ■ until the have been *t thereon, 5t thereof J le several assemble *h proper ^'ernment "lembere • as such isions of >f Upper e fines, ! of the i as the majority of 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 to 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 con- tained; Provided, that no member shall receive or be entitled Proviso, to receive from the funds of such society any interest or dividend, by way of annual or other periodical profit upon any share or shares in the said society, until the amount or value of his share or shares shall have been realized ; except on the withdrawal of such member according to the rules of the said society then in force. IT. And be it enacted. That it shall and maybe lawful S^jcty may ^ to and for every such society to have and receive from any es from mem- member or members, such sum or sums of money by way ^[^J^jthovrt^ of bonus on any share or shares, for the privilege of to penalties in- receiving the same in advance prior to the same being ^^^^ j^^^^ realized, besides interest for the share or shares so received, or any part thereof, without being subject or liable on account thereof to any of the forfeitures or penalties imposed by any act or acts of Parliament, or by any laws in force in that part of the Province heretofore Upper Canada, relating to usury. III. And be it enacted, That every such society shall Society to ' , , . ^ , elect from time and may, from time to time, elect and appomt any number t^, ^^^ of the members of the said society to be a board of directors ^j'^^^J^J^ (who shall choose a President and Vice-President), the number and qualification thereof to be declared in the rules of such society ; and shall and may delegate to such directors all or any of the powers given by this act to be executed ; and such directors, being so elected and appointed, shall continue to act for and during such time as shall be appointed by the rules of such society, the powers of such ectors being first declared in and by the said rules ; and 2 Proviso. 18 in all daaes wi.ere directors shall h„ . • particular purpose, Ibe po«-er, IL, /'*'"""'*'' ^"^ '"'r reduced .0 writing and enteTI^rff'"'^ '" ">«•" ^ha" be Clerk of the ,aid Salt" I'l ""' '' "■" ^'""'^-'y or limes be necessary to concur in »T'°* ^'"^°'" '''^" »' «« «"d .hey shall in J, iuZZZZ'Z:' ""=" ^-""^ •he name of such Society • Zu "" "=' '"'"• ""d i" • belonging to such society and sh» f ^'"''"' '» " ^ook all times be subject Jlmt^l "'""' '" ""« "»<' « disallowance of such socie.y^l ' ^ T' '""^""^ «"<• «uch society shall by their Ge eril B,r ?"' ""'' ^""^ <^ appointed, or shall i„ lik/™7 i "'^' ''*™ directed and Rules t„i^ IV a', . ■"'""" direct and appoint Jiare purposes "^- ^"d be it enacted. Thai » cs'jt ::?' 'f ^-^ - '"•"-'-•d sha I, ^ „; cz ""' ^""^'^ »» «t«bli];w, "''<' '•'■'es. declare all and every , hi , """^ o*" '^eir *c. '^hich such societyisinteX' ,'*"•' P''^P'''««'-<>' "'- in and by such rules d'ect a 'T'^''"^''^''. -d shall purposes to which the money 1th ^nr ""' "^^ ""<' be subscribed, paid or given to „f f ""° ""•« '» «"« 'he said society, or whfch sh 1 " j^: f^ T "' "eneat of. ""f shall belong to the said so ilth ,, 't " '" '"y »nd applied, and in what shares oT' ^ Wropriated -hat circumstances any m ^r of "T"^'""' "" ""^^ person, shall or may bZ^,jLj^ """"y> «' other part thereof: Provided, haT the a t "'."'«-"'« or any notinanywise be repugnant o,h 'PP''0»"on thereof shall of -eh society, „r al! Tf XL o'b:? '^T "' '"'^^^ ""d all such rules, durin. "l '-i '"^ ''''"■'"^^^'''' "Oal. be compiled with and'enf^e^"."'::^^,:'" '"« ''-e, ^" J and the moneys so Proviso. 'ointed for any them shall be he Secretary or the number of eof shall at all 3uch directors, act for and in •rders of such -m, shall have rders of such or might have ays, that the ^ in a book to time and at 'ovvance and and form as directed and point. society so lore of their Purposes for h and shall eiises and me to time f benefit of. or in any- propriated md under or other ne or any f^eof shall purposes foresaid ; 'e same, >neys so [subscribed, paid or given, or bo arising to or for the use or [benefit of the said society, or belonging therelo, shall not [be diverted or misapplied either by the Treasurer or Directors, or any other officer or member of such society entrusted therewith, under such penalty or forfeiture as such ! society shall by any rule enforce and inflict for such offence. V. And be it enacted, That the rules for the management Rules to be of every such society shall be entered and recorded in a3[^*pp;",J book to be kept for that purpose, vjrhich book shall be open that purpose, at all seasonable times for the inspection of ihe members of such society ; but nevertheless, nothing contained herein shall extend to prevent any alteration in or amendment of any such rules, in the whole or in part, or making any new rules for the management of such society in such manner as by the rules of the said society shall from time to time be provided. VI. And be it enacted. That all rules from time to time ^j^|,Y„g°„^® made and in force for the management of such society, ^^nj^ers and and entered and recorded as aforesaid, shall be binding on oilers of the several members and officers of the said society, and the several contributors thereto, and iheir representatives, all of whom shall be deemed and taken to have full notice thereof, by such entry and record as aforesaid ; and the entry of such rules in 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 or other legal process shall be brought or allowed to remove any such rules into any of Her Majesty's Courts of Record. VII. And be it enacted, That no rule entered as aforesaid R^^^^'^he^ ^^ shall be altered, rescinded or repealed, unless at a general ^^^^^^i meet- « ^, 1 -- _f u o/^i■.•■o♦TT onnvpnfid hv inss only. meeting ot the raemuuis ot su-n i:^^i^-j, • .• - public notice written or printed, signed by the Secretary or President of the said Society, in pursuance of a requisition 20 for »".ioh .he meeting « Xz tj ^^'^ '"'^«'=" <•- President ,„H Director ; «-heZ„„ ^ *'''''^'*'' '» ^e "o. fied of .he proposed XS" *"''»«">'»' 'hall be ""'bin fifteen daye; >.cH^^Z'"""^ "•« ^o'' Office, one-third of the .harebo7C^^ ^rT "^ "'' ^'^ '^"^^ Meeting must concur in J^' '^"^<'->^'"^' of which ft"le«tD»pj. yjTT .„. . . *"*^'-''<"is or repeal «fj plw!. of 5 '^ '"•■*"'' be it enacted, That. (,„ , «.«t„.g. Socety shall specfy ,he , ., .7 , ™''' ""^ ^''^'T 'nch ■"•ended that the said Zj^^lZ f ,7 " ""'•'" ■' « !^f «<•"•-!" provisions witi' ^^l^ "^ '^ '"<'»'">8». and dufes of the Membe„ « large aTof ."" ""'"^'^ '"«' ■ bo appointed for the manag^mLn. !f [.'"t"*"^" " "ay Society. 'agement of the affaire of the said Directors lo TY i j . •PI»inio(Hce„ „ ^ -^nd be it enacted. That th. j- »f Soc,«y. Socety shall and may foLtH . "'""' °^ ^'^ auch "^ual Meetings, eleCandTpp ^ ° '"""' ""^"y 'f 'hei «o bo officer of the said "^S L ^T " ^^o-" proper, and grant such saUra^ '' ^ """^ """" "ay deem fit, and pay such 1' """'""'on'a as they •ho management of .he/aMr "^ '^P'"^«» «'onding and shall and may from time .0.-"' T "'^ "« ""™™'' i doomed necessary to!^, ^mo """' '^''™ ''^^all be' •be said Society,' f„, uTh .pac?!;';"" '"« P-"Po^os of Poiposesassfci! :,« fixedand *. ,• , '™ ""'' '""^ ^"oh «a,d Society, ..,-! .. /from '*^'*^<'''y •ho rules of the n PO^on or pe,.ons, and elecld ap '" ""^'^''oharge such of those who shall vacate, or die Tk °'^" '" "■« "o" a 1 and every such officer or <«W '° '''''''''"««'' > a«d «hall be appointed to any offic!, '""'"' "'"'"'--^. who concerning the receipt, mana.™'? '°^""'' ""■<=hi"g or ^un. of money collated rTr:' '"""'"'"" "^ ^^ -«vj Belort! he shall be adm.Hi,/* \ ,"" '^^ """ ^^^<^ OKocuUon of any such-office tS IT:""" •'™ •*" irust, shall become bound SI the members of ' the objects for addressed to the member shall be Ihe Post Office, o' not less than ths of which peal. of every such t which it is meetings, and ' powers and Seers as may ■8 of the said ' every such any of their or persons may think nts as they 's attending 5 incurred J » it shall be >urposes of ' for such ulesofthe arge such ' the room ■gedj and 'Ver, who iching or e of any , the said him the le bound ,c8, he or of n a bond .^ such form and for such amount as the directors ,may determine, with two sufficient sureties, for the just and llaiAful xecution of such office or truBt, and for rendering a Est and true account according to the rdes of the sjud (Society, and in all matters lauful to pay obedience to the 'T' And be it enacted, That it shall and may be la.^^ful ^-^^^^^^ for e'very such Society to take and hold any real state >ritp^^ securities thereon, ion A /^e mortgaged, or ansign. to tbem^rtg^g^^ said society, either to secure the V-V^^ J ±^^ ^^^^Zs.., subscribed for by its mem^^rs, or to secure the payiuent o ^ any loans or advances n ade by, or debts due to > ^ch society, and they may also proceed on such mort assignments or other securities, for the recovery o moneys thereby secured, e iher at law or in equit. otherwise, and that such society shall have the pow investing in the names of the President and Treasurei or the time being, any surplus lands in the stocks of an. >f the chartered banks or other public securities of ^ Province, and that all dividends, interest and proceeds arising therefrom, shall be brought to account and applied to and for the use of the said soc ety, according to the rules thereof. Xr. And be it enacted, That f any person "PPO'.'J^^d *° M^^^f^n anv office ly such society, an. being entrusted with and _^ ^^B^, „, having in his bands or posses, on, by virtue of l»s sa.d.he Soae^ office, any moneys or effects bekngingto such socie y, or ^^^_,„^ ^^j,. any deeds or securities relating to the -">«' f " -S" "■"'• or become bankrupt or insolvent, h.s he.rs, executors, curators, administrators or assigns, or other person having a legal right, shall, within fifteen da; s after demand made by «,e order of the Directors of such society or the major part , , 1 _. *;«« ♦Kprp.nf. deliver over all of them assemblea a; any uic..ang, .. ;, things belonging to the said Society, to such persons as the said Directors shall appoint. 22 Property vee. Yrr a . M m Presi. ^"- And be it enacted Ti... ,. dentanilTrea- goods, chattel. """^toa, Jhata^ fe-i .... "eu-g. ev,de„ces or muni J„,"3:^'': , °^ 'g»"»y instrument, Id' a • ng .s and claims l.Cj„l\T::f:T '^'""«-'. and 'hall be vested in ,l,e president" ^ "^ ^^ """^ «ocie,r »oe'ety for the time being for I. '■^"^"•^^ of the safd ^"i society and the — "'" "'"' "»««« of the -Pectivee^ecutors, adSlr'^" '''"">'' '"^^ th«' respective claims and inte^lr T'^"'' ^''•""•'''■''g lo removal of any president "r I' ' "'''' ""'''^«*<>' ™coeedi„gpre.ide„tandtLa' iTf 7 ''"^' ^«^' » the ""orast as the former p^^en^' '"' '"o »=""« estate and anO subject to the same tr^"' "' T^'^' "ad the^in conveyance whatever ; and I L 'h^^ r"^ ""^'^nment or' in r °"""' " *^«" "'■"'"^ a° ct ''■ 'T "" P'"-P°^«' of '"anywise touching or concern :! ''"^ " '"equity, and taken to be, and ah=., ^^ ">« same, be deL . "^--ary) be sttted '4" ^^^ -ch proce^dtVS appointed to the offices „f """. /''''Pe"/ of the Ve^„*" 'aid society for the tt; 2"^' "" "^asurer~ P-^sident and treasu"' S V^ ""P^' "ames of ulh '"f persons shall, and 'hev , ",^ """"' ''^^''"P'ion, and "'defend, „r caus^ to be toul '"^Z""'--''' 'o'br n. ^P^^aded in their pr„p;,;;j;f ''« sued, pfed and he of h aid society, wifhou Xlr"'"-' a"d treasure sm^ action, or prosecution sClb..'''''™' ""'' "osuch oftces of president or trep=„re. T T ^'"°™' '"''om th« --"ame Of the pe^onstint: ::'::■•-« 6 i"e same, any 23 estate, moneys, ^r, and aJI titles, istruments and whatever, and such society, •er of the said benefit of the thereof, their > according to the death or vest in the ' estate and had therein, 'signment or purposes of ' in equity, he deemed h'ng (when 'e persons irer of the ss of such 'tJon, and ^ to bring y action, 'aw or in «>• claim ety, and 'foresaid and be rcasurer f o such abated >m the in the h any siw usage or custom to the contrary notwithstanding; and .le succeeding president and treasurer shall have the same rights and liabilities, and shall pay or receive like costs, as if the action or suit or prosecution had been commenced in Iheir names for the benefit of or to be satisfied out of the Ifunds of the said society. \ XIII. And be it enacted. That in all such actions, s"^*®^**^*^ and prosecmions as aforesaid, the secretary of such society ^^^^^g" shall be a competent witness, notwithstanding he may also be treasurer of the said society, and that his name may have been used in such action, suit or prosecution as such treasurer. XIV. And be it enacted. That the president, vice- Pjesi^dent.^&c., president and directors of every such society shall, in their j,onsible for private capacity, be exonerated from all responsibility in Mties of relation to the liabilities of such society. XV. And be it enacted. That the rules of every such Treasurerjo^ society shall provide that the treasurer or other principal j^gJJJ ^f funds officer thereof, shall, once at least in every year, prepare or every year, cause to be prepared a general statement of the funds and effects of or belonging to the said Society ; specifying in whose custody or possession the said funds or effects shall then be remaining together with an account of all and every the various sums of money received and expended by or on account of the said society, since the publication 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 that purpose, who shall not be directors, and shall be counter- signed by the secretary or clerk of the said society, and every member shall be entitled to receive from the said society, a copy of such periodical statement, without charge, XVI. And be it enacted^ That the word " society" in interpretation this act shall be understood to include and to mean building clause. Public Act; 24 society and institution ests.hr u . I oMere, by-Jaws and resulaiinn. '*' "» '"dude rale. rPorate as well as J^ZZKT "' '^'■'^' »<> S *« plural number, shall extend ^^'^ '^»«J '"■Port.C eveiy word importing .k« **"»"» w *e Church of E„ , . '" '■' ^"''«<="be Society— an^ „ England and M . r--.,:! rr/,""™^^ '•°-e?;;r:^'' «*». constitute me a m . "^"^^py ;„ „ . ' "'"trngs, e„,rie, ^ t'ie said day 0/ T^ :y. ^ave made, f«^j and by constitute and '"' Attorney to subscribe »" Bui/ding y name to gs, entries, ^^e^ullyto hereby my ^^ of the *yd and '* to the soever ' m or 'Sjiis