164 BUSINESS OPERATIONS AND ORGANIZATIONS. 



ART. 24. At all meetings of the stockholders one vote shall be counted for 

 each share of stock not exceeding fifty share, and one additional vote shall be 

 counted for each twenty-five shares, or fractional part of twenty-five shares in ex 

 cess of fifty, upon which all called assessments have been paid. Each stockholder 

 may be represented at any meeting of the stockholders by a proxy, who must also 

 be a stockholder; provided said proxy shall have filed his credentials with the 

 Cashier at least ten days next proceeding each meeting; provided further that 

 no person shall be allowed to hold proxies representing more than one hundred 

 votes. 



AET. 25. The Board of Directors shall have power to regulate, from time to 

 time, the rate of interest to be charged upon loans and allowed upon deposits. 



AET. 26. All transfers of stock shall be subject to all debts and equities in 

 favor of the Corporation, against the person or corporations making such trans 

 fer, and existing or arising prior to the regular transfer thereof upon the books 

 of the Corporation; and no transfer of shares shall be made upon the books of 

 the Corporation, until all dues and demands thereon, due to the Corporation 

 from the party or parties representing such shares, shall have been paid. 



AET. 27. All transfers of stock shall be made on the books of the Corporation, 

 and no tiansfer shall be binding on the Corporation until so entered, or until all 

 assessments thereon have been paid. No stock that has been transferred on the 

 books of the Corporation within thirty days next preceding any meeting of the 

 stockholders, shall be entitled to representation at said meeting. 



AET. 28. Certificates of stock shall be issued to the original stockholders ot 

 this Bank, to the number of shares by each subscribed in the original articles of 

 association, as evidence to each of the number of shares by him owned in the 

 capital stock, and the manner of transferring shares shall be by endorsement and 

 delivery of the certificates thereof, such endorsement being by the signature of 

 the proprietor, or his or her attorney, or legal representative. No stock shall be 

 transferred without the surrender of the certificate, and upon such surrender the 

 word &quot;cancelled&quot; shall be written across the face of the certificate by the 

 Cashier, and the signature of the officers shall be erased, and such certificate so 

 cancelled, shall be preserved by pasting the same to the stub from which it was 

 torn in the Certificate Book. The transfer books shall be closed for two days 

 prior to the annual meeting and the payment of dividends, and the dividends 

 shall be paid to the stockholders in whose names the stock shall stand when the 

 books are closed. 



AET. 29. The officers of the Bank are sttfctly prohibited from loaning its 

 funds on mining stocks. 



AET. 30. The Board of Directors shall have power to dispose of the stock of 

 the Bank at rates not less than the par value, and after the first of October, 1874, 

 may fix such premiums on the stock as in their judgment may be deemed just. 



AET. 31. All persons subscribing to the capital stock of the Bank, are required 

 to sign their names to the By-Laws. 



The bank went into operation on the first of August, 1874, at 

 415 California street, San Francisco. Beautiful and commodi 

 ous rooms, with the necessary private rooms attached, accom 

 modate both the bank, the Executive Committee, Secretary, 

 and other officers of the State Grange. Amid the surging 

 throng of capitalists, speculators, and schemers, which crowd 

 the money-changers highway, is set the financial headquarters 

 of our most important industry. It was created for the Patrons, 

 with especial reference to small stockholders; $2,517,000 of the 

 capital stock has been taken up, $2,000,000 is on deposit in the 

 bank. Its stock is owned by one thousand five hundred and 

 forty-three Patrons of Husbandry, and the number of deposit 

 ors is correspondingly large. It is managed by the following 

 Board of Directors: 



