« AnteriorContinuar »
made, and all dividends thereon shall an extra dividend shall be declared. be immediately added to the princi. This is because the object of the pal ; in which case compound inter- Institution is to aid and assist the est will be gained.
poorer and middling classes of But people who have paid money society. in, may become sick, or otherwise Monies may be deposited by any vant their money. It is therefore person for the benefit of a minor or provided, that they may take it out other person, and not subject to be on the first Wednesdays of March, withdrawn, if they please so to orJune, September and December, by der at the time of putting the same giving notice to the Treasurer one in. week beforehand.
This plan will be particularly useThe reason of this regulation is ful to seamen bound on a voyage, this : if the money could be called or soldiers, or other persons who for on every day, the Trustees could come in possession of money, renot lend it out, or employ it to the ceived by way of wages, prize mon. advantage of those who make the ey, or gifts and gratuities, for which deposit.
they have no immediate use, and Monies put in, will be entered in which they may wish to have remain a book of the corporation, and also for future necessities. in a book to be given to those who Widows and children may also in. put it in. This book will be the evi- this way be provided for. dence of their property, and as valid man intending to marry at a future as a note of hand. When monies day, and young women who may exare called out, this book given to pect to change their condition, can the depositor, must be brought to here safely lay up a sum against a the office to have the payment enter- time when they may want it more. ed. Depositors may take out the Deposits made at any time bemoney themselves, or in case of ab- tween the quarters ending the first sence or sickness, it will be paid to Wednesdays of March, June, Septheir order, properly witnessed and tember and December, will not be accompanied by the book.
put upon interest, till the first WedIf persons die, who own money nesday of the quarter succeeding in the Society for Savings, the the deposit. The reason is, that it money will go to their heirs, or per would be impracticable to compute sons to whom they may have given interest on numerous deposits unless it by will, with certainty. It cannot it is made to commence from a few be placed where it will be more fixed periods. safe, as it respects the honor and fidelity of management.
The following tables show how much Persons who put in money, must the smallest savings may amount to in 5 sign the rules, and agree to conform years, and also in 10 years. to them. This is necessary for the paid in as soon as they amount to one
Twenty-five cents a week laid by, and security of all parties,
dollar, and continued for 10 years, may No sum above two hundred dol- produce as follows: lars can be received in the course In 1 year to of any one year from one depositor ; and the Trustees have a right to
3 years to
4 years to pay off any depositor the whole or
5 years to any part of his deposit, whenever 10 years to
2 years to
13, 18 27, 03 41, 58 56, 84 72, 90 166,00
26, 47 54, 23
OF THE SOCIETY FOR SAVINGS.
50 cents saved and deposited in the same ciety, and until others are chosen in manner may amount
their room, lo 1 year to
4. The Treasurer's office shall 2 years to 3 years to
83, 48 be kept in some central place in the 4 years to
114, 12 city of Hartford, and shall be open 5 years to
146, 30 every Wednesday, from 2 to 5 10 years to
333, 10 o'clock, P. M. 1 dollar saved each week may amount 5. The Board of Direction, shall In 1 year
meet at least twice in every year, 2 years to
108, 54 3 years to
166, 92 on the day next preceding the days 4 years to
228, 23 on which dividends are to be decla5 years to
292, 60 red, and at all other times when a 10 years to
666, 06 meeting shall be requested by the OBJECT AND BY-LAWS President, a Vice-President, or two
Trustees. 1. The primary objects of the 6. Dividends shall be declared Institution, are to aid the industri- on the first Wednesdays of June and ous, economical, and worthy ; to December, annually, at the rate of protect them from the extravagance five per centper annum, on all deof the profligate, the snares of the posits, not less than three dollars, vicious, and to bless them with com- which shall have been deposited six petency, respectability, and happi- months : and on all deposits of not
less than three dollars, which shall 2. The Board of Direction shall have been deposited three months consist of a President, twelve Vice- or more, and less than six months, Presidents, and twenty-four Trus- the same per rata, dividend, shall be tees, to be chosen at the annual, or declared for the term of three other general meeting of the Socie- months ; but dividend shall be ty, and shall hold their offices until cast or made on any fractions of a the next annual meeting, and until dollar. others are chosen in their room. 7. No interest or dividend shall
3. The Board of Direction, for be cast or made on any sums withthe time being, shall have power to drawn before the dividend is made, put to use the funds of the Society; and since the last previous dividend. to elect such officers as the inter 8. At the end of every three ests of the Society may require, years, to be computed from the first from among the members of the cor- Wednesday of December, 1819, poration ; to ordain and establish there shall be declared a dividend of By-laws, for the regulation of the all the profits which may have acBoard ; to determine what number crued within the said three years, of the Board shall constitute a quo- and not already divided, after derum to transact business ; to deter- ducting the necessary expenses of mine the amount of the Treasurer's the institution, and any sums that bond, and the sufficiency of his sure may be necessary to keep good the ty, and may fill any vacancy which capital deposited, and such dividend may happen in the Board, by elec- shall be paid to the depositors, tion from the members of the Socie- whose deposits shall severally ty. And all officers elected by the amount to the sum of three dollars ; Board, shall hold their offices until provided said deposits shall have the next annual meeting of the So- been with said Society for the term
of one year, at least, next preced-sitor may designate the time for ing the time of declaring said extra which it is made, and all dividends dividend : but in making said divi- thereon shall be immediately added dend, no regard shall be had to any to the principal. fractional parts of a year, but each 13. In case of the death of a desum deposited in any year, shall be positor, if the credits to such deporeferred, for the purpose of calcula- sitor in the Society, shall be less ting its proportion of extra dividend, than fifty dollars, the same shall be to the first Wednesday of December paid to the legatee, or next of kin, or next, following, the time of said legal representative, without the deposit.
expence of the probate of any will, 9. The Board of Direction, with or of letter of administration, and in one month next following any ex- such payment shall discharge the tra dividend, may pay off to any de- Corporation. positor the whole of his or her de 14. The Treasurer of the Socieposits.
ty, before he enters on the duties of 10. All deposits shall be entered his office, shall give a bond with in the books of the Corporation, sureties for the faithful performand a duplicate shall be given to each ance of the duties of the trust impodepositor, in which his deposits sed in him. shall be entered by an officer of the 15. No addition to, or alteration Corporation or Direction, and such of these By-laws shall be made, exentries shall be the only evidence cept in general meeting of the Soof the deposits.
ciety. And every depositor, on 11. Dividends and monies with-making the first deposit, shall be redrawn, shall be paid only to the de- quired to subscribe to the By-laws positor or the depositor's order or of the Society, and shall thereby be legal representative ; but neither considered to give his or her assent the principal nor the interest of any to, and shall be bound by all By. deposit shall be paid to any person, laws and regulations, which shall unless the depositor's book of en- afterwards be ordained and estabtries, made by an officer of the Cor- lished by the Society, in manner poration or of the Direction, shall aforesaid, as well as to the By-law be presented, that such payments and regulations then in force. may be entered therein. “And no
16. A meeting of the Society, money shall be withdrawn from the may be called at the pleasure of the Society, except on the first Wed. President, and shall be called at the nesdays of June, September, De- desire of two Vice-Presidents, or cember, and March, and on one three Trustees, or any six members week's notice of the intention to of the Society. draw being giving to the Treasurer. 17. There shall annually be apAnd no depositor shall. at any time pointed a Secretary, who shall hold withdraw a sum less than five dol- his office for one year, and until anlars, unless such depositor's whole other is chosen in his room. deposit is less than five dollars.
12. Dividends not called for within three months from the declara
RECTION tion, shall be added to the princpal, and thereafter be entitled to divi.
1. The Board of Direction dends as original deposits. And shall be divided into Committees when a deposit is made, the depo-' of three, whereof a Vice-Presi
BY-LAWS OF THE BOARD OF DI
dent shall be one, and to each the Society, to either of the banks Committee, the Board at their in the city of Hartford, or to infirst meeting, shallassign a month- dividuals, on good personal seculy tour of duty.
rity ; provided however, a pre2. Any two of the monthly ference shall be given to the Committee shall be a quorum to banks, if they, or either of them, transact business; and in case of will allow for the loan, at the rate the death or the absence of more of six per cent. per annum, and than one of the members of a will semi-annually settle the inmonthly Committee, while on a terest account: and no monies tour of duty, it shall be tlie duty shall be loaned to individuals for of the Clerk of the Board, to no- a longer period than ninety days: tify two or more of the Commit- and in case the money can be tee assigned to the next month, to loaned to either of the banks, fill the vacancy, and so proceed the Committee for the month from month to month, until the shall make the deposits. vacancy shall be filled.
9. The Treasurer shall make 3. Al motions before the Board, up his accounts semi-annually on shall, when desired, be made in the first Wednesdays of June and writing, and no motion shall be December, to which time the rediscussed or voted upon, until it gular meeting of the Board, shall has been seconded.
be adjourned, and a Committee 4. At the end of every month, previously chosen, shall examthe Committee, whose tour of ine the same, and attach their duty shall have expired, shall draw certificate thereto. up a written reportof their doings, 10. The monthly Committee, and of the state of the Society, shall meet every Thursday, at and shall lodge the same with 12 o'clock at noon, at the office the Clerk of the Board, for the of the Treasurer, to examine the use of the succeeding Commit- receipts of monies deposited, and tees, and to be laid before the dispose of the same agreeable to Board of Direction at their next the 8th article. meeting.
11. There shall be appointed 5. All reports of Committees, annually, a Clerk of the Board. appointed by the Board, shall be 12. Seven members of the in writing, and signed by the Com- Board, (two of whom must be mittee making the report. Vice-Presidents,) shall form a
6. Gentlemen addressing the quorum for the transaction of buchair, may sit while making observations.
7. The Clerk of the Board, shall give notice to each month
AMERICAN ARTISTS. ly Committee, when its tour of What American does not feel duty commences.
proud of the laurels which have 8. A standing Committee shall been recently entwined round the be appointed to loan the funds of brow of Columbia ? Not reaped
by the sword of slaughter--not to be Perfection !!!. But no patstained with human blood--but ron stepped forward to encourplucked by the plastic hand of age the inventor, who was retardgenius, from the blushing bowers ed in his progress, by all the obof peace and innocence.
We stacles which prejudice and povhave often boasted, that the arms erty, (those implacable foes of of Americans, have taught haugh- genius,) could throw in the glority Britain a lesson, which she will ous path he wished to tread. He not soon forget. But a still high- persevered, however, with a gier boast is ours. We have taught ant stride. Prejudice was annibiBritain, and the world, that for lated, and poverty diverted by the which future generations shall liberality of a few enterprising bless the name of Columbia. We Printers in Philadelphia and Newhave taught her arts, that will York. He fought his way man. tend to diffuse knowledge, virtue, fully, until he found himself ele. and consequently, happiness, to vated above the immediate asthe human family. This is a boast saults of want. But, the paterthat far excels that of martial or nal hand of his own government naval exploits.
was not stretched forth to his aša To American genius, Europesistance ; and he was compelled is indebted for the present per- to offer that blessing to Europe, fection of the Quadrant and the which his beloved America knew Steam-boat. To the same source, not how to appreciate. has England lately applied for as England received him, as she sistance in the beautiful art of En- did our West, and many others, graving, in order to check a sweep-who have been driven to her by ing torrent of corruption, which the same causes, and who have her own ingenuity has laboured sought her for the same purpose. in vain to oppose.
The COLUMBIAN PRESS, was adBut, we have yet higher claims mired and adopted, and the name on her gratitude and applause. of Clymer, enrolled on the glit: Columbia has given her the Press, tering tablet of fame. the medium through which all hu But the benefits of his inven. man knowledge flows. We have tion, are not confined to the fastgiven her a Press, that will for- anchored Isle. The great empire ever perpetuate our name ; à of Russia, is to be enlightened by Press, which she has cheerfully his genius, and extensive regions, adopted, instead of the rude and now sunk in the gloom of ignobarbarous machine, which has rance and barbarism, will owe heretofore supplied its place. their renovation to an American
And here we feel a glow of Artist. Alexander has done what confusion on the cheek, for the our government neglected-he * ingratitude of Republics." The has adopted the COLUMBIAN COLUMBIAN Press, was invented Press, as a national blessing, and by our countryman Mr. Clymer, rewarded the artist with a forseveral years ago. It was investi- j tune. gated, tried, and acknowledged It is true, that we have not