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The Pamphlet Collection of Sir Robert Stout: Volume 7

XIII. Investment Shares

XIII. Investment Shares.

1. Investment Shares shall be of the ultimate value of

Investment shares value

£50, and Half Shares of the ultimate value of £25; and page 10

fixed at £50, and half-shares £25.

no member shall hold in his own right more than 100 Shares. Every member holding an Investment Share shall pay on each such share the sum of 2s. 6d. per week, or 10s. 10d. per month, until such share with interest and profits added shall be of the value of £50, and the holder of every half share shall pay on each such half share the sum of 1s. 3d. per week, or 5s. 5d. per month, until such share with interest and profits added shall be of the value of £25. The payment shall be made at the offices of the Society between the hours of ton and four in the day, and the monthly payment not later than the third Monday in each month. Every member neglecting to pay the amount of his subscription by the due date

Fines on investment shares.

shall be fined for each share or half share as follows :— 3d. for the first month; Gd. for the second month; 9d. for the third month; Is. for the fourth month, and so on in proportion for any longer period. Every member continuing to neglect the

Weekly or monthly payments.

payment of his weekly or monthly subscriptions until the fines incurred thereby shall equal all the moneys invested by him, exclusive of the entrance and other fees, shall thereupon cease to be a member of the Society, and shall forfeit his interest therein. If any member shall be in arrear in respect of his subscriptions or fines for more than one month, every payment that shall afterwards be made, if not sufficient to discharge the whole thereof, shall be applied first to the liquidation of fines, afterwards for the first monthly subscription clue, and then in discharge of each subscription in arrear.

Subscriptions on investment shares may be received in advance.

2. The Board of Directors may, in their discretion, receive subscriptions on Investment Shares in advance, and may allow such discounts on such payments as they shall from time to time determine.
3. Whenever the money available for allotment shall exceed

Issue of shares to cease.

the amount required for the purposes of the Society the Board of Directors may (at a special meeting of the said Board to be convened for that purpose) resolve that no shares shall be issued for such period as shall be determined at such meeting, and a copy of such resolution shall forthwith be posted in the office of the Society.