CO-OPERATION IN THE UNION. 343 



the Board of Directors to meet any emergency that may 

 arise between the regular annual meetings of the County 

 Trustee Stockholders. 



13. All moneys arising from subscriptions to stock, 

 dues and initiation fees, shall be forwarded to the Treas- 

 urer selected, first by the Board of Trustees, and afterward 

 by the stockholders, who shall issue his receipt for the 

 same, together with a certificate stating the amount of 

 stock subscribed and the amount paid in, to the Secretary 

 of the subordinate body subscribing the same; and the 

 business manager shall issue to each member of said body, 

 who has contributed $i or more, a certificate of mem- 

 bership in the Farmers' and Laborers' Exchange of 

 Arkansas, and said certificate shall entitle such member 

 to all the benefits of the Exchange together with a vote 

 in the selection of its Trustee Stockholder. Said certifi- 

 cate shall not be transferable, and any members using it 

 or permitting it to be used for the benefit of any other 

 person not entitled to the benefit of the Exchange, shall 

 forfeit the same with all the privileges to which said cer- 

 tificate entitles him. 



14. No person who has not contributed $i or 

 more to the Exchange fund shall be entitled to the 

 benefits thereof. And no member who has contributed 

 more than $i shall be entitled to any special privi- 

 leges, either in voting for Trustee Stockholders or extra 

 privileges in trade. 



15. The money raised for the purpose herein set 

 forth shall constitute a trust-fund, which shall be used for 

 the purposes herein mentioned, and for no other purpose. 

 It shall at all times be subject to the disposal of the Board 

 of Directors and the General Manager of the Exchange, 

 who shall act under and in accordance with the instruc- 

 tions of the Board of Directors. A two-thirds majority of 

 the Stockholders shall have power to dissolve this cor- 



