AWARD OF THE FISHERY COMMISSION. 34").; 



at erne thousand dollars each ; and for each of such shares held by the 

 stockholders a promissory note of two hundred dollars, payable on 

 demand, with satisfactory security, shall be given to the Company, and 

 upon each amount of said two hundred dollars, assessment may be 

 levied by the Directors for such sums as may from time to time be re- 

 quired for the use of the Company. 



Article 9. All stock notes shall be signed and endorsed before any 

 application for insurance cau be received. 



Article 10. Any responsible person who has property to the amount 

 of five hundred dollars to be insured, may take one-half a share of the 

 stock of the Company, and one share for each additional thousand dol- 

 lars he may wish to have insured. 



Article 11. After the closing of the stock book, no person shall retire 

 from the Company, or cease to be a member thereof, but shall be firmly 

 held until the business of the Company for the year shall be settled. 



Article 12. All matters relating to the government of the Company 

 shall be decided by the Directors in all cases where they are not 

 instructed by the stockholders at a regularly notified meeting. 



Article 13. The Directors shall call meetings of the stockholders at 

 such times as they may think proper. And upon notice in writing signed 

 by five or more stockholders, it shall be the duty of the Secretary to call 

 a meeting as requested by them. 



Article 14. Special meetings of stockholders shall be notified either 

 verbally or by leaving a written or printed notice at each stockholder's 

 place of business two days before the time of holding such meeting. 



Article 15. Each stockholder shall be entitled to one vote for each 

 share of stock held by him, and in case a person is the holder of a single 

 half share, he shall be entitled to one vote. 



Article 16. No alteration shall be made in the laws for the government 

 of this Company, except at a regularly notified meeting of the stock- 

 holders, two -thirds of the number of stockholders to constitute a quo- 

 rum for the transaction of business, and two-thirds present acting in 

 the affirmative to decide. 



Article 17. No loss will be allowed by this Company on the hull of a 

 vessel, unless said loss or damage shall amount to the following percent- 

 age on the whole value of the vessel as valued in the policy, after de- 

 ducting one-third for new, viz.: 



A vessel valued at $7,500 and upwards, 5 per cent. 

 " " from 7,000 to $7,500, 6 per cent. 



" " " 6,500 to 7,000, 64 per cent. 



" < 6,000 to 6,500, 7" per cent. 



" " " 5,500 to 6,000, 74 per cent. 



" ** 5,000 to 5,500, 8~ per cent. 



" 4,500 to 5,000, 9 per cent. 



" " 4,000 to 4,500, 94 per cent. 



" 3,500 to 4,000, 104 per cent. 



" " 3,000 to 3,500, 11" per cent. 



2,500 to 3,000, 12 percent. 



" " 2,000 to 2,500, 14 per cent. 



" " 1,500 to 2,000, 18 per cent. 



* " " 1,000 to 1,500, 25 per cent. 



All under 1,000 30 per cent. 



Cables, anchors and boat to be at the risk of the owners iu all cases, 

 except a total loss of vessel. 



Sails, rigging, masts, and all other appurtenances belonging to the 

 vessel to be at the risk of the owners in all cases, except the loss on 



