| 936 vote of thanks to the brethren of the committee for their very arduous labor, in the production of the articles which had now been read, and which had occupied the committee some sixteen hours. This vote was most heartily and unanimously carried.
Elder Thomas Wilson, president of the committee, then returned thanks.
Elder Hedlock rose to express his gratification at the result of the committee, so far, and as he had been the first to suggest the plan, he felt much to rejoice at the prospect of its ultimate success.
It was then voted that Brother Brown read the articles one by one for the consideration of the conference.
AFTERNOON SERVICE.
The service being opened as usual, the following articles were for the time being agreed upon. We shall not here present the remarks made upon each as it passed, but merely quote each article as it was decided upon.
1. That this Joint Stock Company be called "The Mutual Benefit Association."
2. That it shall have for its objects the establishing of those branches of manufacture in America, which will be most beneficial, and return to the stockholders the greatest amount of profit, requiring at the same time the least amount of capital in erecting and carrying on its operations.
3. That this association shall bring over food and provision from America, that the members may have abundance of those things both cheap and good, at a price considerably beneath that at which such provision are usually supplied, that thus a saving far exceeding the weekly payment for one share shall be effected.
4. That its capital shall consist of not less than thirty thousand pounds, divided into sixty thousand shares of ten shillings each: that a deposit of one shilling per share shall be paid within two months from the date hereof, or within one month from the date of the application for shares at any future period; the remainder to be paid in equal parts, weekly or monthly, during the following eighteen months.
5. That each shareholder, shall have one vote, and one only, in all matters connected with the business of the Mutual Benefit Association.
6. That a committee of fifteen directors shall be chosen to manage the affairs of this association; that every male shareholder, aged twenty-five years, shall be eligible to become a director. That this committee have full power to manage the affairs of this society. That they be appointed for twelve months; that four retire annually by ballot, and another be chosen in the same manner to fill up the vacancy.
7. That each district shall have a committee of management consisting of a President, Secretary, Treasurer, and four members, who shall have the power to organize every branch in a similar manner by the general voice of the said district.
8. That the annual meeting shall be the time for transacting the business of this association, viz: on or after the 6th of April in each year, and that the expenses of each delegate be paid out of the general fund.
9. That the collections of shares shall be made weekly or monthly as may be convenient for each district, and that these instalments [installments] shall be paid to the treasurer thereof, he giving a printed receipt to each member: that these check-books shall be sent to the general committee on or before each annual meeting, and that a minute-book be properly kept and signed by the officers of every said district, which shall be returned at the same time, and that for the sake of uniformity, these books be provided by the directors out of the funds.
10. That the cash paid by members, on account of their shares, shall be remitted by the treasurer of each district to the treasurer of the Committee of Directors, on the first Wednesday of every month, in Post-office orders or Bank of England seven days' post-bills according to the amount.
11. That the treasurer of each district see that he receive a printed receipt for each monthly payment, signed by the three chief directors or managers at Liverpool, viz: the president and the two trustees or cash-keepers hereinafter mentioned.
12. That the said cash orders shall be paid and remitted in the names of these three chief officers, whose names must be endorsed by them on the same, before they can be cashed.
13. That all the monies belonging to this society shall be kept in some bank, chosen by the directors in Liverpool, in the name of the said three principal directors or trustees for this association, whose united signatures shall be attached to every document for deposits, or drafts, or receipts: and that the petty cash be kept in a safe, in the said company's office, under two keys, one kept by each of the said trustees hereinafter named.
14. That every member shall have the liberty of selling his or her share to other members; that any shareholder may increase his or her share at any time by paying the amount paid up, and any bonus that may have been declared or added on the same; and that should the amount of shares demanded exceed sixty thousand,
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