n- IMAGE EVALUATION TEST TARGET (MT-3} ^^. ^ 1.0 I.I 1.25 2.2 US |9« II •a u I. 1.4 1.6 p% ^ /}. 7 (?m. Photographic Sciences Corporation \ ^ \ \ LV \ 4sy^ ^v\ 23 WEST MAIN STRUT WEBSTER, NY. 14580 (716) B73-4903 # ^ CIHM/ICMH Microfiche Series. CIHM/iCI\/IH Collection de microfiches. Canadian ImtitHM lor HMorical Microraproductlona / Instltut Canadian da microfapraduotlona htotoiiquaa Tfchnieal ani •vv^ II I'OAf/^^^ «»FFirK ; ol'lMjsiTK riTY MAI.!., \U\ MU\t\t RI€H19IOI¥D-Sr., [4 Herald Steaiit Presses, LoikIdii. i » iwmp & Invtistm^nt mcrdcttj. nrCOBf OSATED 1872, B7 ACT OF f ABIIAUSKT. • ♦ • tIFITIL on MELIOl MLLIIS. l!^' mwmm .w . lm#li FAYABLS ONE DOLLAR PER MONTH. > » > STOCKHOLDERS RECEIVE PERIODICAL DIVIDENDS -•-^•- IIOAKUOF UIRKCTOIIS: I>AN1KL MACKIK, Ksy.. • JAS. B. 8TRATHY, Esq., Collector of Custonw, COLIN MUNRO, Esq., Sheriff County of Kiglo SAMUEL PETERS, Civil Engineer. W. F. HARPER, Manager Merchants Bank- JOHN BURNETT (of Burnett* Elliott). H. WATEBMAN(ofH.Wat()nnan&Bro.,) Atlantic Petroleum Work*. THOMAS BEATTIE (of Thos. BeatUe & Co.) HENRY TAYLOR, Banker. JOS. ATKINSON (of J. Atkinson & Co.,) President Board of Trade. W. R. MEREDITH, M. P. P. (of Scatcherd& Meredith, Barristers ) A. JOHNSTON, Ee*., Banker, Strathroy. lUNKMBS— MERCHANTS' BANK OF CANADA. Solicitor— E. J. PARKE. SKCaKTAHY— P. B. LEYS. PaBSiBBat. TIcb-Pbm. OFFICE:— Opposite City Hall, Bichmond Street, London, Oat. SAYINGS BANK BRANCH. Liberal rates of interest paid on Deposits. The whole Capital of the Society being for investment on Real Estate, render th'.* ^couri^y to the depositor in the Savings Bank complete and permanent. THE OBJECTS OF THE ■:o:- The Object for which this Society is established is to assist those persons furnishing good Mortgage security on Beal Estate, in the acquisition of Free- hold Property, in the erection of Buildings, and in otherwise improving the same ; and in the removal of incumbarnces on property already held by them ; and to provide for those having money for invest- ment, a convenient and profitable mode of invest- ing their savings or capital. The organization of this Society has been received by the public with so much favor and confidence as to make it manifest that the beneficial effects of Building Societies, formed under the permanent system, are well understood both by large and small capitalists* To the Shareholders of the Society it will be suf- ficient to state that all payments on Stock derive an immediate benefit lirom the earnings of the Society; and any possible loss being divided over .the whole capital of the Company, is rendered all but imperceptible to the individual Shareholder. No director is allowed, under any circumstances, either directly or indirectly, to become a borrower from the Society. All proper information will be given, and, if necessary, forms of application for stock provided. F. B. LEYS, Sec. AND Treas., London, Ontario. s the e the 8: liabili to en! in ad and t and r UN, I II. |of th I eithei fandi I Ea scrip k full t tfllff. itablished Mortgage 1 of Pree- gs, and in i removal by them; 3r invest- ofinvest- received mfidence effecta of irmanent Lrge and 1 be suf- derive of the ed over lered all Lolder. stances, >rrower and, if ovided. CAS., titario. THE DOMINION I •••o:- M'ffZS^B* r *n * NAME AND OBJECTS OP THE SOCIETY, HIS SOCIETY shall be called the "Dominion Savings and Investment Society," and the intents and purposes for which it is established are to assist the members thereof in the ac» quisition of freehold or leasehold property; in the erection of buildings and otherwise improving the same ; and in the removal of incumbrances or liabilities upon property already held by them; md to enable them to receive the amount of their shti-es in advance, upon furnishing good mortgage security; and to facilitate the accumulation and the borrowing j and redemption of capital. .i UNADVANCED SHARES— MODE AND TIME OF PAYMENT. II. — The capital stock of the Society shall consist of the unadvanced shares of the members thereof, either in the course of accumulation or fully paid up and invested as fixed or permanent capital. Each member shall pay thereon a monthly sub- scription of one dollar per share for and during the full term of four years, or four dollars per share for TU£ DOMINION 8AVINQB — r one year, to coramenco and be paid on and from the jafter first day of any month in or after which he shall befcer admitted in respect of each new share, and shall alsophe pay on entering, a deposit of two dollars per share,JBhan making the total payments on each unadvanced share jsubsc Fifty Dollars. After each share shall have beenfthe 1 fully paid up, the amount so paid, with the net accu mulated profits thereon, shall be due and payable tojmone the holder thereof, and may then either be withdrawn |8es8ic from the Society or invested therein as fixed or per-jwho manent capital. fin " su I time VI mone to red III. — Monthly subscriptions, and all repayments, \ fines and other payments, shall be paid at the Socie- ty's office on the first day of every month, or, when the first day falls oo Sunday, or a legal holiday, then on the day following; or to any of the Society's agents authorized to receive the same, three days previously, until otherwise ordered by the Direetors.| and t IV. — All persons upon taking stock in the Society |*'®^. shall sign the rules, in a book to be kept for that | ^"^la purpose, and shiall then elect the term in which such " share or shares shall be paid up. The time for which shares may have been originally taken up, may, on the application of the holder thereof, be changed to any other time, on such terms as the Directors may from time to time determine. And the Direct- ors shall have the power from time to time to limit the number of new shares taken, or to charge a premium V , thereon, such premiums to form a part of the general | ^^ funds of the Society. ^ ^"^ ' on m< may ' VI be s benel long SHAREHOLDERS PAYING IN ADVANCE. V. — Shareholders making an iiWftiediate deposit of tooney for the purpose of meeting in advance their monthly dues, shall be allowed interest on the amount | so deposited, or so much thereof as shall remain becoi purcl with* mem take' bv t AND INTJS8TMENT SOCIETT. and from thejafter deducting instalments due, at the rate, of six jh he shall befcer cent, per annum, or such lower or higher rate ai^ and shall alsoShe Directors may from time to time determine; or ars per share,iBhareholderf» paying any certain number of monthly Ivanced share jsubscriptions in advance, may, with the consent of all have beenlthe Directors, be allowed a like number of additional the net accu-|month8* credit without being subject to fines. All id payable to^moneys paid by members, or which may be in pos- be withdrawn fsession of the Society, belonging to any member fixed or per- N'ho may be in arrear, shall be applied to his account jin such manner as the Directors may from time to itime direct, repayments, > at the Socie-I POWKR TO BORROW OR RECEIVE MOJ^EY ON ith, or, when j DEPOSIT, holiday, then | VI.— The Directors are authorized to borrow "®^^^^6t'y's|money for the use, and on the assets of the Society; , three days f to receive money on deposit, in largQ or small ^ump, ne Directors.! J^ud to pay such interest therefor, and under sqph 1 the Society I ^^^"'^^^^"'^ ^^ ^hey may, from time to time, deem ept for that! ^^^^^^^^® » ^^^ ^^ ^^^^ ^^ invest such money, either 1 which such | ^" mortgage of real estate, or in any other way thpy rhe time fori "^^J think best for the interests thereof. be cha™^^ I APPLICATION OF FUNDS. J Directors I VII.— All moneys which shall from timp to time the Direct-I ^^® subscribed, paid, or given to or for the use or e to limit the! ^^^^^^ ^^ ^^® Society, or which shall in any wisiQ be* 3 a premium V^"^ ^^ ^*' ®^^^^' ^^^®^ providing for the payment of "the ffenerali ^^® expenses and liabilities thereof, be apprppriated ° I and applied in paying off such shares as shall have I become due and payable to the holders thereof^ in the ANCE. I purchase of such shares as meipbers may desire to e deposit ofi withdraw, and in loans or advances to the several Ivance their I n^embers. Should the funds of the Society not be the amount I taken up by the members at the usual rat^s charged hall remain I ^y ^^*® Directors, such funds may be otherwise in- e THS DOMINION SAVINGS Tested for the benefit of the Society at the discretion ' Dirj of the Directors, of which members may nevertheless . visi avail themselves. DIVISION OF PROFITS. VII.— The financial position of the Society shall be ascertained on the 30th day of June» 1874, and on the 80th of June in each year thereafter ; and the profits and losses shall then be apportioned equitably and equally between the investing mennbers, in pro- portion to the value of their shares, and the time for which they shall have been members in respect there- of. But, if the Directors shall consider it for the advantage and well-being of the Society to set apart a portion of such profits for contingencies, they shall have the power to do so, and the same shall form a part of the general funds. Such portion of the net profits thus ascertained and apportioned as shall ap- pertain to shares which shall not have been fully paid up. shall be placed to the credit of such shares, to be payable, together with the principal sum, on their becoming due ; and such portion of the net pro- fits, thus ascertained and apportioned, as shall apper- tain to shares which shall have been fully paid up and invested as fixed or permanent capital or shares, shall be payable to the holder of such share or shares. And if the directors shall in their discretion see fit to declare a dividend at a semi-annual period, or to make a less reservation for contingencies or shares which, when paid up, shall be invested as fixed or permanent capital, than on such shares, as when paid up are withdrawn, they shall have power to do so. And on shares becoming due during the currency of any year, the same proportion of profits shall be pay- able as would have been paid at the date of the pre- vious annual statement, imless in the opinion of the i I I] to getl ) timt S the i ^^^] I and 1 totl I in p be ii func part Dirt reta * ^^»e 1 I in P' I T pvo\ the ent and upo l»er€ prol I of s I a SI I tior I insT 1 ^^' *# one ; tori i^ dec ■)/ AND INVESTMENT SOCIETY. be discretion nevertheless ociety shall ,1874, and )r; and the id equitably era, in pro- ihe time for jpect there- r it for the o set apart , they shall ball form a of the net 8 shall ap- been fully ich shares, il sum, on le net pro- all apper- ) i d up and 1 ■ 11 aresj'shall )r shares. see fit to od, or to or shares i fixed or <^hen paid to do so. rrency of 1 be pay. ' the pre- >n of the Directors there are circumstances which render ad- visable an increased or decreased amount. RESERVE FUND. IX. — The Reserve Fund shall consist of the assets to be set apart by the Directors as such fund, to- gether with such sums as the Directors shall from lime to time direct to be deducted or retained under the powers hereinafter conferred upon them, and to- p^ether with the profits and increase of such assets and sums. And the said Reserve fund shall belong to the holders of Permanent Shares for the time being, in proportion to the number of their shares, and shall be invested and re-invested in like manner as the other funds of the Society, and the same, or any part or parts thereof, may, according to the judgment of the Directors, from time to time, or at any time, be either retained as such Reserve Fund, or divided among the holders of permanent shares for the time being, in proportion to the number of their shares. The Directors may, from time to time, retain such proportion as may at such time seem expedient, of the ascertained net profits undivided on the perman- ent shares, and add the same to the Reserve Fund; and the Directors shall hereafter, from time to time, upon the conversion into permanent >itock of any share hereafter to mature, deduct and retain out of the ^profits, payable in respect of such stock at the time of such conversion, and add to the said Reserve Fund a sum bearing as near as may be, the same propor- tion to the par value of such stock as the then exist- insj- reserve fund shall bear to the par value of the whole number of the existing permanent shares, and one rate for this purpose shall be struck by the Direc- tors half-yearly or oftener, if they shall at any time deem it expedient to alter the existing rate. 8 TIIK DOMINION SAVINGS TRANSFER OF SHARES. | in tl X. — Any shareholder may transfer his share or ' ex shares, by causing an entry of such transfer to be of made in the books of the Society, in such manner as be the Directors may appoint, and thereupon the trans- ' . feree (after signing the rules) shall be entitled to all | ^ the privileges of the original shareholder. 1 WITHDRAWAL OF SHARES. 'I ^^ XL — Any member being desirous of withdrawing fi] from the Society part or the whole of his unadvanced ^ ^ shares, provided such shares shall not have been in- ai vested as fixed or permanent capital, may, at the v\ discretion of the directors, be allovved to do so, and n may receive back the net amount of his monthly sub- g scriptions paid up, with compound interest at six per ; e cent, per annum, calculated half yearly, deducting any u fines, interest or forfeiture due or paid thereon.. Pro- n vided that no member shall be entitled to receive in- ^ \ terest on any share on which less than six monthly f subscriptions shall have been paid. But the Directors \ may pay a higher rate of interest than six per cent. ] to members withdrawing, if they think it advisable to t do so. REGISTER OF SHAREHOLDERS. XII. — The name and place of abode of each share- holder shall be entered in a registry book to be kept 1 for that purpose; and any member changing his . residence shall, within one calendar month thereafter, )f give notice in writing to the Secretary of such change, t and of his new place of abode and address, or in de- fault thereof be fined fifty cents. XIIL— In the case of the denth or insanity of any member, tho legatee or legal representative of such member shall, before becoming entitled to the privi- leges of an original shareholder, procure his place of abode and the particnlars of his title to be registered AND INVESTMENT SOCIETY. 9 s share or nsfer to be manner as the trans- itled to all thdrawing ladvanced 3 been in- y, at the lo so, and ithly 8iib- ^t six per ictingany ^n.. Pro. eceive in- monthly Directors per cent, nsable to \ih share- be kept ging his ereafter, change, 3r in de- ^ of any of such le privi- place of wintered }f in the books of the Society, and shall at the same time exhibit the will or probate thereof, or grant of letters of administration or other document (as the case may be) for the inspection and satisfaction of the Directors. MODE OF OBTAINING AN ADVANCE OF MONEY. XIV. — Any member entitling himself to an advance of a share or Shares, shall give notice, in writing, to the Secretary, of the situation, tenure, description and full particulars of the property proposed to be mort- gaged by each member to the Society, in such form as the Directors shall prescribe , and shall deposit with the Secretary all necessary title deeds and docu- ments relating thereto, and also such sum as the Secretary may consider requisite to meet any necessary expenses. Should any Shareholder decline to take up the amount awarded him, or fail to complete the necessary securities to the satisfaction of the Directors within one month, such member shall pay a fine of fifty cents per month, if required by the Directors, whether any deposit has been made or not; and the Directors may otherwise dispose of the money granted to such member. ADVANCES -HOW MADE AND ON WHAT SECURITY. XV. — The Directors shall have the power to regu- late the amounts applicable for advances, the time and manner of making the same, the interest and bonus payable thereon, and the time and amount of the repayments to be made in respect thereof. The repayments on advanced Shares shall be for a fixed period, in respect of each share and shall not be liable to the contingency of losses or profits in the business of the Society; and after a shnre hns been advanced to any member, he shall take no part in the management of the affairs of the Society in respect thereof. 10 THO DOMINION SAVINOH 1 I XVI. — The Directors may accept property situated anywhere within the limits of the Province of Onta- rio, or the unadvanced Shares of any member of the Society as security for loans. The Society shall have a first lien on all shares held by any member indebted or liable to the Society for the amount of such debt or liability. XVII. — All mortgnge deeds and securitiee to the Society shall be prepared in such form and contain such clauses, provisoes and agreements as the Solici- tors for the Society shall think fit, with the approval of the Directors ; and that in case the mortgngor shall at any time or times neglect or refuse to pay his re- payments, fines, or other payments for the space of six months successively, then the Directors may,either with or without the concurrence of the mortgagor, appoint a person or perejon^, with salary or commis- sion as they may think proper, to collect the rents and profits of the mortgaged premises, with the same power of enforcing payment as the mortgagor himself may possess ; also, power to sell and dispose of such premises, by public auction, or private sale, when the Directors shall think proper. And that in case the mortgagor shall be himself the actual occupier of such mortgaged premises, then the mortgage deed may contain stipulations that he shall become tenant to the Society, at a fair rent to be named in such deed ; and the Directors shall have power to distrain as be- tween landlord and tenant. And the Directors shall have power to make such arrangements for the re- pairing or keeping in repair, or for finishing or putting in order any buildings or other improvements, or for taking care of and managing generally, the mort- gaged property, as they shall deem expedient; and all charges or expenses attending the same shall be paid by the mortgagor, and shall be a charge upon t!ie mortgaged property. And when any sale shall I the - Soc ari6 !> mil anc ANP INVESTMENT SOClKTY. 11 y situated ! of Oiita- )er of the shall have indebted uch debt ee to the i contain he Solici- approvid gor shall ly his re- space of ay,either Ttgagor, comrnis- ents and le same himself of such 'hen the case the of such ed may nant to 1 deed ; 1 as he- rs shall the re- :)utting , or for mort- ; and lall be 3 upon i3 shall i take place of any property mortgaged to the Society, the Directors shall have power to retain and apply so 1 much of the purchase money as will be necessary to ^ pay the same sum as would be required to redeem ' the property, pursuant to the provisions contained in :■! these rules ; together with all other payments, moneys and expenses due to the Society, and to pay the sur- . plus thereof to the mortgagor, or whoever shall ap- pear to be entitled to receive the same. INSURANCE ON MORTGAGED PREMISES. XVIII. — All property secured to the Society con- sisting of buildings, shall be insured by the mortgagor, if required by the Directors, in such sum and office as they shall think advisable ; and the policy or poli- cies shall be in the name of, or shall be assigned over to the Society. In case any member, having execu- ted a mortgage to the Society, shall make default in ) payment of the expenses which maybe incurred, in and about insuring, and keeping insured, the mort- gaged premises, or of the ground rent or other pay- ments to which the said property may be subject, pursuant to the covenant in the mortgage deed, he shall pay such fine as he would have incurred for the non-payment of an equal amount of re-payments, at the time appointed for the payment thereof; the Society not to be responsible for any consequences arising from any omi^ision in the payment of the pre- 1> mium, or other payment due on any policy of Insur- 2 ance. I XIX. — Every member executing a mortgage to the I Society, shall, if required at the time of such eiecu- I tion, give to the Secretary a written statement of all # such particulars relating to the property comprised % in such mortgage, as are usually required by Insur- I ance companies ; and if at any subsequent period any trade shall be commorured, or erection made, or other 12 THE DOMINION SAVINGS ti matter or thing shall take place which would in any way affect the validity of the Policy of Insurance, the like statement shall be given ; and the member ne- glecting to give such statement shall pay a fine, at the discretion of the Directors, of not more than twenty- five cents, but not less than three cents per week for each share ; and the Directors shall, if they think fit to do so, at least once in every year, appoint some competent person to obtain all the information he can with respect to trades, &c., carried on in and about the mortgaged premises, and to report to the Direct- ors accordingly. XX. — In case of damage by fire, the Directors shall receive from the Insurance Office, the amount payable in respect of such damage ; and the receipt of the Secretary and Treasurer of the Society shall be a sufficient discharge to the Insurance Office for the money therein expressed to be received; and the Directors shall have full power to settle and adjust with the Insurance Office any question relating to such insurance, and to accept the amount to be paid by the Insurance Office, in respect to the damage done to the premises ; or to make such arrangements with the Insurance Office as to the rebuilding or re- pairing of the said premises, or relating thereto, as the Directors shall think reasonable. XXI. — The Directors shall; at their discretion, either lay out the money which shall be received from any Insurance Office as aforesaid, or any part thereof, in repairing the damage done to the premises ; or pay the same to the mortgagor or his representative ; or retain and apply the same, or such part thereof, as they sliall think fit, in or towards payment and satis- faction of the amount which shall be due irom the mortgagor to the Society, nnd pay the surplus, if any, AND INVESTMENT SOCIETY, 13 lid in any ranee, the mber ne- ine, at the n twenty- week for ' think fit •int some on he can nd about le Direct- Directors ) amount e receipt 3ty shall Office for and the 3 adjust ating to be paid damage ^ements g or re- >reto, as cretion, ed from thereof, or pay ive; or re ->f, as d satis- om the , if any, to the mortgagor, or to such other person as be shall (by writing) direct to receive the same. SALE, EXCHANGE, OR REDEMPTION OF PROPERTY MORTGAGED. XXII. — If any member who shall have executed a mortgage to the Society shall desire to sell the mort- gaged property, subject to the mortgage, he shall be at liberty to do so, with the consent of the Directors, upon first duly transterring the shares secured by such mortgage to the intended purchaser, in manner provided by these rules ; and upon such transfer being completed, and all arrears due to the Society, from the mortgagor, being paid, and the conveyance to the purchaser executed, such purchaser shall thenceforth become liable to pay all repayments payable in re- spect of such shares : and the Directors may grant lo the original mortgagor, and at his cost and charges, a release from all future liability in respect thereof. XXIII. — It shall be lawful for any member, having executed a mortgage in favor of the Society, to sub- Btitute,at his own expense, and subject to the approval of the Directors, any other property, as security to the Society, in lieu of the property originally mort gaged. XIV. — If any member shall desire to have his roperty discharged from a mortgage to the Society,^ before the expiration of the full term for which it has been taken, he shall be allowed to do so on payment of all repayments, and any fines and other sums due in respect thereof, up to the time of the redemption of such mortgage, and of the present value of the future repayments, calculated to the end of the term, and discounted at such rate of interest, and on such terms as the Directors may determine. XXV. — On the redemption of any security by a member, or when all repayments have been made by 14 TJIE DOMINION' SAVINOS him on advances pursuant to these rules, a full dis- charge of such security shall be executed, and the same shall be delivered to such member, with all other deeds and documents deposited by him in connection with such security: and such discharge shall be prepared, and the necessary signatures obtained, and any matters relating thereto transacted, by the Soli- citor to the Society at the expense of such member. FINES. XXVI. — The fines for the non-payment of the monthly or other repayments or subscription on ad- vanced or unadvanced shares on the day on which the same are made payable by the rules of the So- ciety, or of any moneys whatsoever, due and payable by any member, until otherwise ordered by the Di- rectors, shall be at the rate of one cent in the dollar per month on the amount due, and the same shall accrue and be payable immediately after the monthly subscription day, and shall be chargeable to such member until all arrears are paid. But the Directors shall have the power from time to time to increase or reduce the fines for the non-payment of money due, to an amount not exceeding two cents nor less than one cent in the dollar per month, if they shall see fit. When the fines on unadvanced shares shall equal the amount of subscriptions paid thereon, such share or shares, and the interest of any member in respect thereof shall be forfeited to the Society. Provided that after any share shall be in default, the Directors shall have power to recover from such shareholder the amount due to the Society by an action of debt in any court of competent jurisdiction. BANKING ARRANGEMENTS. XXVII. — The Directors may make such arrange- ments with any of the Chartered Banks doing busi- AND INVESTMENT SOClETi'. 15 ness in the City of London, or any Banking Company in Great Britain, for the deposits of moneys and se- curities belonging to the Society, and for conducting other financial matters as they shall from time to time deem necessary. XXVIII. — No money shall be drawn from the bank without the signature of the President, or, in case of his absence or illness, of the Vice-President ; or a Director named by the President for the pur- pose, and of the Treasurer or other person duly authorized by the Directors. GENERAL MEETINGS. XXIX. — A general annual meeting of the members shall be held at the office or rooms of the Society, or auch place as the Directors may appoint, on the first Wednesday in the month of August in each year — the next meeting in 1874 — for the purpose of electing six Directors to serve for the ensuing two years, and for all other geneaal purposes relating to the manage- ment of the Society ; and at each of the said general annual meetings shall be submitted a full and clear statement of the affiiirs of the Society for the year ending on the thirtieth day of June previous. XXX. — Extra general meetings of the members of the Society may be called by the Directors, upon the members being notified of such meeting, through the Post Office, or otherwise, at the discretion of the I; Directors. Any ordinary or special meeting of the members or Directors may be adjourned, from time to time, and such business may be transacted at such adjourned meetings as might have been transacted at the original meetings from which the adjournment took place. VOTING. XXXL— The election of Directors shall be by ballot. IG •niK DOMINION S A VINOS and such election and all questions at the annual or other general meetings of the Society, except when otherwise provided by statute — each member being entitled to as many votes as he holds unadvanced shares — shall be decided by a majoiity of the members holding unadvanced shares,either in person or by some other member as his proxy represented at the meeting, the Chairman of any meeting, either of the Directors or members, to have a casting vote in addition to his vote as a member or Director. DIRECTORS. XXXII. — The affairs of the Society shall be under thecontrolandmanagementof a Board of twelve Direc- tors (of whom five shall form a quorum for the trans- action of business), who shall hold not less than twenty- five unadvanced shares each ; and who shall choose from among themselves a President and Vice-Presi- dent. No Director shall hold the office of Treasurer, Surveyor, or Solicitor of the Society. The Directors shall be elected for the term of two years, six to retire annually, but shall be eligible for re-election ; the six who shall retire at the first annual meeting of the Society, to be decided by lot, as the Directors may determine. XXXIII. — The Directors elected at the formation of the Society, or hereafter to be elected, shall continue in office till the election of their successors, unless in case of disqualification or resignation. XXXIV. — The Directors shall, at a special meeting to be called for that purpose, or at any other meeting, if all the remaining Directors be present, have power to fill up any vacancy that may arise in their own body in the course of the term of two years, by a vote of not less than two-thirds of the Directors present ; and the Board shall have power to make any By-Laws and Re- gulations for the guidance of the Society, its Officers, AND INVESTMKNT SOCIETY. 17 Agents, and Shareholders, provided such regulations are not inconsistent with the general rules or the Acts under which the Society is incorporated. XXXV. — In the absence of both the President smd Vice-President, the Directors present, at any meeting of the Board, shall have the power to appoint a Cluiir- man, pro tern., and with such Chairman shall be com- petent to transact the business of the Society. XXXVI. — If any Director shall die, or resign, or become incapable to act as Director, or become bank- rupt, or insolvent, or compound with his creditors, or cease to hold the required number of unudvanced Shares, or be removed from his office by a resolution of a special general meeting of the members, or shall for three months successively be absent from the meet- ings of the Board, without the consent of the Director**, he shall thereupon cease to be a Dire-tor of the Soci- ety; and the Directors may appoint another member of the Society to be a Director in his place, as herein- before provided ; and no Director shall, at any meet- ing of the Board, take part in any discussion, or vote on any question, in which he shall be personally inter- ested. XXXVII. —The Directors shall be indemnified out of the funds of the Society, or otherwise, from all ex- penses in reference to the formation, conduct, and management af the Society. SOLICITORS. XXXVIII.— A Solicitor shall be appointed, who shall transact such necessary business of the Society as the Directors may require, for which he shall re- ceive a fair and reasonable allowance. XXXIX. — The Solicitor shall investigate the title to any property offered by any member as security to the Society, and shall in all cases render to the Direc- tors a report, in writing, whether such title be deemed A 18 THE DOMINION SAYINOS by him good and sufficient for the purposes of the Society ; and shall prepare all necessary mortgage deeds and instruments in favor of the Society, The Solicitors and Surveyor's fees, and other charges shall, in all cases, bep:iid by the member on whose account they may be incurred. sp:cretary and treasurer. XL. — A Treasurer shall be appointed, who shall also perform the duties of Secretary, and who shall be empowered to receive and pay all moneys for and on behalf of the Society, and his receipt shall, in all cases, be a sufficient discharge ; and he shall deposit with the Bank all such moneys as he shall have on hand, when they amount to $100. He shall attend all meetings of the Directors or members of the Soci- ety ; enter minutes of all resolutions or proceedings in the minute book,and shall keep the accounts in order (in proper books to be provided for that purpose), and prepare the same; or a balance-sheet thereof, for the inspection and signature of the Auditors. He shall summon the Directors to all meetings (by circular), and issue all circulars and notices to members which may, from time to time, be thought necessary by the Directors; conduct the correspondence of the Society, and perform all other duties that the nature of his office may require. XLI. — The proceedings of the Society shall be en- tered in a minute book, in detail, in such a manner as the Directors may, from time to time, direct ; such entries to be signed by the President, Vice-President, or Chairman,as well as by the Secretary and Treasurer. APPRAISERS. XLII. —Persons approved by the Directors may, from time to time, be appointed as appraisers, who shall receive proposals for loans, examine the property ) offered conside a repor perty, y quired, and wh( think re nary dt other m ment of be held by the authoris underta to a pel order of be a g(H purpose XLII Treasur offices fc purpose Directoi INSPE • XLH appoint books a have po Agents to pay t munerat scriptior when di AND INVESTMENT SOCIETY. 19 ) offered as security to the Society if the Directors shall consider it necessary, and shall render to the Directors a report in writing, of the state and value of such pro- perty, with such further particulars as may be re- quired, in such form as the Directors shall prescribe, and who shall be paid such fees as the Directors shall think reasonable. It shall not be a part of the ordi- nary duties of an appraiser to receive subscriptions or other moneys on account of the Society, and no pay* ment of money, or undertaking by an Appraiser shall be held to be a payment made to or an undertaking by the Society, unless such Appraiser be specially authorized to receive such payment, or contract such undertaking. And any payment made by the Society to a person holding the office of Appraiser on the order of an}' member or other person, shall be held to be a good and sufficient payment to all intents and purposes whatsoever. CHANGE OF OFFICERS. XLIII. — Neither the Solicitors, nor Secretary and Treasurer, shall be removed from their respective offices except at a meeting specially convened for that purpose, and by a majority of the whole Board of Directors. INSPECTION OF ACCOUNTS AND APPOINTMENT OF AGENTS. XLIV. The Directors shall, from time to time, appoint one or more of their members to inspect the books and accounts Kept by the Secretary ; and shall have power to appoint persons as special or general Agents to transact the business for the Society, and to pay them out of the funds of the Society such re- muneration as they shall think reasonable ; and sub- scriptions or other moneys may be paid to such Agents when duly authorized to receive the same ; and such 20 TUK DOMINION SAVINGS Agents shall transmit the same, with an account, to the Secretary, without delay, according to their in- structions. No agent or appraiser of the Society shall have, or shall be held to have, power to bind the So- ciety in any way, beyond what he shall be authorized and instructed by the Directors. WHEN AND HOW THE SOCIETY MAY BK DISSOLVED. XLV. — No dissoluton of this Society shall take place unless its affairs be deranged; or its principles prove inadequate to promote its objects, or its funds be insufficient to meet the claims, or from any other such cause, rendering the dissolution absolutely ne- cessary, and then only by a vote of at least two-thirds of the members present, either in person or by proxy, at a special general meeting to be called for that purpose. CONSTRUCTION OF RULES. XLVI. — In the practical application of these Rules^ or any Rules hereafter to be made in virtue theieof, the construction put upon them by the Board of Di- rectors shall be final and conclusive. Every word in the singular number shall be applicable to the plural, and every word importing the masculine gender shall, where necessary, be understood to mean a ferpale as well as a male, unless there be something in the sub- ject-matter or context repugnant to such construction. t A \ o p n S o o *o o ^' I te C O" a p 3. 5' 0'? O c < 13 a. 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