| 92 "Art. 12. Two thirds of the managers shall form a quorum to act at the semiannual meetings, and any number of the seven, the committee of the managers, with the Treasurer and Secretary, or either of them, may form a quorum to transact business at the weekly meetings, and in case none of the seven are present at the weekly meetings, the Treasurer and Secretary must transact the business.
"Art. 13. The managers shall have power to enact such by-laws as they may deem necessary from time to time, provided they do not infringe upon these articles of agreement.
"Art. 14. All notes given by said society, shall be signed by the Treasurer and Secretary thereof, and we, the individual members of said firm, hereby hold ourselves bound for the redemption of all such notes.
"Art. 15. The notes given for the benefit of said society shall be given to the Treasurer in the following form: 'Ninety days after date, we jointly, and severally, promise to pay A. B. or order,--dollars and--cents, value received.' A record of which shall be made in the books at the time, of the amount, and by whom given, and when due, and deposited with the files and papers of said society.
"Art. 16. Any article in this agreement may be altered at any time, annulled, added unto, or expunged by the vote of two thirds of the members of said society, except the fourteenth article; that shall remain unaltered during the existence of said company. For the true and faithful fulfillment of the above covenant and agreement, we individually bind ourselves to each other, under the penal sum of one hundred thousand dollars. In witness whereof we have hereunto set our hands and seals, the day and date first above written."-Millennial Star, vol. 15, pp. 843, 844.
A close inspection of Article 14 of the foregoing should convince anyone that the purpose of this company was not fraudulent, for they, the members of the firm, held themselves individually responsible for the redemption of every note signed by the Treasurer and Secretary of the society. Men do not usually involve all they have in an effort to defraud.
Again: Article 16 binds them to each other severally and
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