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7. To spread amongst its members a practical knowlerlge of the elementary 

 principles of economic science and to teach them respect for their engagements 

 established by their signatures, as also the advantages inevitably derived by those 

 who faithfully fulfil the obligations they have undertaken ; 



8. To create and foster mutual confidence between shareholders by means of 

 economic relations based on the security of warranties of a high character, inas- 

 much as they are founded in a very gret measure, on morality, honesty, order, 

 love of work and prudence ; 



9. To gradually procure them— by persevering efforts towards securing economy 

 andconsequently a just measure of credit — that economic independence which in- 

 spires and fosters the feelings of personal dignity and convinces one of the need 

 of relying above all upon one-elf to improve one's position and raise oneself in the 

 social ?cale. 



Operations of the Levis Society. 



The objects of the society are sufficient to indicate the nature 

 of its primary functions. In the first place it encourages savings 

 by the formation of a capital made up of shares which are small 

 in amount, payable in weekly or monthly instalments, and on the 

 basis of which the division of the year's profits is made. Secondly, 

 it receives from its members deposits of any amount of not less 

 than 5 cents, on which interest is allowed; and, thirdly, it grants 

 loans, makes discounts and advances to members on their own 

 signature and the personal security of other members of the society. 

 The society is restricted in its operations to doing business with 

 its members only, and the membership is restricted to a certain 

 area. 



SHARES AND SHAREHOLDING. 



To become a shareholder and thereby a member of the society, 

 persons desiring to become such must be accepted by the society 

 in the first instance. Applications for allotment of stock are re- 

 quired to be submitted to a council of administration appointed at 

 a general meeting of members of the society, which council may 

 require every application to be seconded by two shareholders. 

 Every shareholder must be reputed as of good habits, sober and 

 punctual in payments. Either men or women may become share- 

 holders, but female shareholders are not allowed to hold office. 

 Shareholders are liable for the debts of the society only to the 

 amount of their shares, and each share entitles the holder to a 

 proportion of the yearly profits. The shares are of the value of 

 $5 each and amounts may be paid in weekly or monthly instal- 

 ments, and until the full amount of the share has been paid off, the 

 holder is not entitled to participate in profits. A fee of 10 cents 

 is charged as an entrance tax on each share subscribed for. 



Any shareholder may cease to belong to the society and with- 

 draw the instalments he has paid on the shares subscribed by him 

 by giving a written notice of thirty days to the council of adminis- 

 tration, and a member may be expelled if he becomes bankrupt or 

 insolvent or his property is liquidated judicially because of refusal 

 to pay his debts, or failure punctually to fulfil obligations he has 

 undertaken towards the society, or has in other ways attempted to 

 abuse the privileges of the society or deceive its officers. Instal- 

 ments paid by a shareholder up to his expulsion are repaid him, 



