Page 3 Advertisements Column 5

Thames Star, Volume VII, Issue 1962, 19 April 1875, Page 3

Meetings Grahamstown, 19th April, 1875. TO THE SECBETABY 01? THE THAMES LAND, BUILDING, AND INVESTMENT SOCIETY (Pebmanent). SIR,, —"We, tho undersigned Shareholders in the above-named Society, request that you will call a General Meeting of. the Society, for the purpose of altering Eules Nos. 1, 2, 3, 4, 6, 7,12,13, 14, 15, 16j 19, 20, 21, and 22, which, -with the proposed alterations, will read as follows :— FORMATION OF THE SOCIETY. This Society shall be called the "Thames Land, Building, and Investment Society, Permanent." OBJECTS OF THE SOCIETY. The objects of the Society are :—To afford facilities for the safe and profitable investment of small savings; to assist its members, by advances, for the purchase cf freehold or leasehold property ; for the redemption of existing mortgages; for building upon, or otherwise improving property already in their possession, or for. any. ooft' purpose for which capital can be applied in accordance with the Building and Land Societies Act. The capital of the Society shall be created by means of monthly •payments from its Members of not less than five •hillings per share; and by payments, made in advance, on account of any share or shares. RULE I. MEMBERS. 1. The Society shall consist of Investing and Borrowing members. 2. Persens of all ages may become members of tho Society, but shall not be entitled to talre part in its meetings or hold office unless i over twenty-one years of age. . RULE 11. 1. The Society shall hold its meetings the First Monday in each month, at such place as the Committee may from time to time appoint. 2. The general or special meetings of the Society shall be held at such time and place as tho Committee may determine, seven days' notice thereof being given by advertisement signed by the chairman or secretary, in at least two issues of a Thames newspaper, with^a statement of the business proposed to be transacted at such meeting, end the chairman of any meeting shall have power to adjourn the same, or to extend the term thereof to an hour to be determined on at such meeting. 3. Twelve investing members shall form a quorum at any general or special meeting of this Society. All questions shall be decided by a majority of votes, and the sense of the meeting taken by a show of hands, or by a' division, or by ballot if demanded by fire members present. Should a ballot be demanded', the voting shall be as follows :—Two scrutineers shall be elected by those present, and the secretary shall deliver to each member entitled to vote a paper signed by himself, and having on it, in writing, the number of votes to which the member is entitled according to the following scale :— The holder of 1 to 5 shares to have 1 vote „ 6 „ 10 „ 2 votes 11 „20 „ 3 „ „ 21 shares and .upwards 4 „ The ballot shall be kept open for such time,-as the chairman shall consider necessary for all the members present to vote, at the end of which time the scrutineers shall open the ballot box, count the votes, and. report to the chairman, who shall declare the result. 4. An annual meeting of the r Society shall be held in the month of August in each year, at, which a report of the proceedings of the Society and audited accounts up to the end of the preceding financial year shall be submitted by the committee, and the annual election of office-bearers shall take place. 5. It shall be competent for any seven investing members to sign a requisition to the secretary to call a special general meeting, and the secretary shall do so by advertisement, as before described. Provided that the object of the meeting be distinctly stated both -in the requisition and in the advertisement, and no other business shall then be entered upon except that for which the meeting has been convened, but should a majority of the shareholders so convened decide that tho ' meeting has been called on insufficient or frivolous grounds, the requisitionists shall bear whatever expenses may have been thereby ■ incurred, and on their failing to pay the amount it shall be deducted proportionately from whatever monies may stand to their credit in the books of tho Society. „ OFFICERS. 6. The business of the Society shall be conducted by three trustees, a committee of seven members, a solicitor, a treasurer, a secretary, and two auditors. _ , . ■: , : RULE 111. TRUSTEES. 1. All deeds, writings, and securities, to and from the. Society shall be.made and taken as to or from the trustees, and all such deeds, writings, or securities shall be deposited in such secure and convenient place as may be determined upon by the Committee, and the same shall not be removed therefrom without an order from the committee. 2. All payments which the committee may order shall be paid'by cheque (the better to preserve secrecy, payable to a number,) signed by one trustee, one member of committee, "and the secretary." 3. When any trustee shall become a borrower,-or do any act moving from himself, then all his securities and undertakings shall be' made over to the other trustees for the time being. 4. In case any or either of the present trustees, or any future trustee or trustees appointed during the' continuance of this Society shall die, be desirous of resigning, or become incapable of acting, or go to reside more than four miles from the town of Grahamstown, or become from any other reason unable to perform the duties without inconvenience to the committee, or, in the opinion of the committee, be guilty ol any gross neglect, pr improper conduct, or become bankrupt, ! or insolvent, or compound with hi#creditors, the secretary shall convene i a special meeting of the committee (and when any complaint is made i aeainst any trustee, such trustee shall have notice from the secretary four clear days before such meeting), and the committee shall hear and determine the subject matter of such notice, and may expel, or remove,: or declare vacant the office, or accept the resignation of such trustee., ■■■< ' 5. In case of the death, resignation, or removal of any trustee, the; committee shall have power, from time to time, to fill up. such a vacancy, and the trust property shall vest m the surviving, or continuine, and newly appointed trustees; provided, nevertheless, that it shall not be imperative on the committee to fill up such vacancy until the number of trustees have been reduced to one, and in the meantime -until the appointment .of such new trustee or trustees, the trust; property shall vest in the surviving or continuing trustees or trustee,----i and the trustees or trustee, for the time being, shall be qualified to :do; all acts the same as if the original number were in existence. ; ■;:., 6. In the event of the committee deeming it requisite to,bring.any action or suit, or commence any legal proceedings on behalf,of the", society respecting the property, or claims, or any othei matter concerning the interest of the Society, the same shall be brought by and in the names of the trustees, and they shall be borne harmless,'and indemnified by the Society from any loss or damage which they, or one, or any mere of them may sustain in reference thereto; but no such action, suit, or proceeding shall be commenced by tho trustees,, or any of them, without the sanction and consent of the committee. RULE IV. COMMITTEE. j 1. The committed shall consist of seven investing members, of whom four shall form a quorum. 2. At each yearly general meeting in the month of August, two of the committee shall retire in rotation, and two others elected. The members so retiring shall be eligible for re-election. 3 No member shall be qualified to serve on the committee unless he bo the holder of at least four investing or paid up shares, and should any member of the committee become bankrupt or insolvent, or compound with his creditors, he shall immediately cease to be a member of the committee. 4. Each member of the committee shall be separately elected, and any vacancy that may occur in the committee in the intermediate - periods between annual elections shall be filled up by the residue of the committee, for the time being, the member so appointed taking the place of the one for whom he is substituted. / 5. The committee shall meet once in every month, or oftener if necessary, in such place, and at such times as they may deem fit; and the minutes of the preceding meeting having been read from the minute-book, the banker's book shall be produced, and" the amount deposited since last meeting shall be ascertained, and entered as the first minute. The committee shall have power to appoint sub-committees for various purposes, to consist of not less that three members. 6. Any three members of the committee shall'have power to call a special meeting off the committee, after giving three clear days' notice to the chairman or secretary, and stating the object [for which the meeting is to be called. 7. N6 member of the committee shall be present when the votes are taken on any question which relates to his individual interest or conduct. " • 8. Two members of the committee in rotation (to bo called stewards) shall attend the monthly meotinfts of the Society, and receive all monies, and shall be jointly responsible for tho amount and quality thereof, and at the close of the meeting shall account for, and pay over tho same to the treasurer, who shall give an acknowledgment, for the same.' • •'',„, r, * 9. Each .member of the committee shall be entitled to receive, out of the funds of the Society, the sum of two shillings and sixpence for each meeting which he may attend during the year, provided he is in attendance before the business of the meeting has commenced.