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Article PROSPECTUS OF A PLAN ← Page 3 of 5 →
Note: This text has been automatically extracted via Optical Character Recognition (OCR) software.
Prospectus Of A Plan
holders' certificates might be transferable by endorsement ; but all transfers must be registered at the Mont-de-Piete ' . Shareholders mi ght , at the expiration of three years , withdraw the amount of their shares , on giving three months' notice . The profits are to be divided into two equal shares , one to belong to the hospital , the other to the shareholders . The portion belonging to the hospital to be applied , firstly , to the completing the number of sharesuntil the subscribed shall
necessary , sum amount to £ 24 , 000 . It is next to be applied to the payment of such shareholders as are willing to withdraw ; then to the purchase of the shares of the other shareholders , who shall be bound to receive the subscribed principal sums , according to the order of their shares , which shall he determined by lot . Thus , the whole of the shares would eventually belong to the hospital .
Trustees of charities mi ght lend the funds of their establishments , and receive eight per cent . ; but they should be bound to receive the principal , when all private shareholders should be paid . The same regulations apply to the guardians of the estates of minors , the committee of lunatics , the treasurers of municipal and other corporations . Persons wishing to leave money at the Mont-de-Piete for safe keeping , shall receive transferable tokens of credit , and such interest as might be agreed between the and the
upon owners governors of the establishment , & c . This institution had the effect of banishing pauperism from Bordeaux and its neighbourhood . The shares of the subscribers of the ori ginal fund were , in a few years , bought by the fructification of the funds ; which , pending the whole of this period , supported all the necessary charities at Bordeaux . From the same fund , with the assistance of some donations , the hospital in that city , said to be the finest in Europe , has latelbeen leted and
y comp endowed . All former pawnbrokers' establishments were superseded , and the funds of the new institutions were lent on pledges , or personal security , to humble but respectable and industrious persons . The interest of the money paid b y borrowers , deducting the expenses of management , are applied to the benefit of the community at large , in charities and public works . The Mont-de-Piete was opened in Limerick , 17 th March , 1837 , and it appears from the general report published May 31 ,
1838—That the profits obtained b y interest , at the £ s . d . date of December , 1837 , were 335 2 7 A Ditto ditto ditto January , 1838 , — 50 7 Of Ditto ditto ditto February " — 53 11 6 ^ Ditto ditto ditto March " 83 0 lot Ditto ditto ditto April " 93 18 g Ditto ditto ditto May 31 st " — 120 9 4 ,
In Hi months— £ 736 10 2 | The report shows that the increase of capital was , during the last five months £ 888 14 3 And that the profits during the same period were .. 401 7 7 This shows an increase of profit of than £ 80 month
average more per , or of about £ 1000 a year . The population of Limerick , not being equal to half the population ot Edinburgh and Leith , it mayreasonably be anticipated , that if three benevolent loan banks were established in Edinburgh , and one in Leith ,
Note: This text has been automatically extracted via Optical Character Recognition (OCR) software.
Prospectus Of A Plan
holders' certificates might be transferable by endorsement ; but all transfers must be registered at the Mont-de-Piete ' . Shareholders mi ght , at the expiration of three years , withdraw the amount of their shares , on giving three months' notice . The profits are to be divided into two equal shares , one to belong to the hospital , the other to the shareholders . The portion belonging to the hospital to be applied , firstly , to the completing the number of sharesuntil the subscribed shall
necessary , sum amount to £ 24 , 000 . It is next to be applied to the payment of such shareholders as are willing to withdraw ; then to the purchase of the shares of the other shareholders , who shall be bound to receive the subscribed principal sums , according to the order of their shares , which shall he determined by lot . Thus , the whole of the shares would eventually belong to the hospital .
Trustees of charities mi ght lend the funds of their establishments , and receive eight per cent . ; but they should be bound to receive the principal , when all private shareholders should be paid . The same regulations apply to the guardians of the estates of minors , the committee of lunatics , the treasurers of municipal and other corporations . Persons wishing to leave money at the Mont-de-Piete for safe keeping , shall receive transferable tokens of credit , and such interest as might be agreed between the and the
upon owners governors of the establishment , & c . This institution had the effect of banishing pauperism from Bordeaux and its neighbourhood . The shares of the subscribers of the ori ginal fund were , in a few years , bought by the fructification of the funds ; which , pending the whole of this period , supported all the necessary charities at Bordeaux . From the same fund , with the assistance of some donations , the hospital in that city , said to be the finest in Europe , has latelbeen leted and
y comp endowed . All former pawnbrokers' establishments were superseded , and the funds of the new institutions were lent on pledges , or personal security , to humble but respectable and industrious persons . The interest of the money paid b y borrowers , deducting the expenses of management , are applied to the benefit of the community at large , in charities and public works . The Mont-de-Piete was opened in Limerick , 17 th March , 1837 , and it appears from the general report published May 31 ,
1838—That the profits obtained b y interest , at the £ s . d . date of December , 1837 , were 335 2 7 A Ditto ditto ditto January , 1838 , — 50 7 Of Ditto ditto ditto February " — 53 11 6 ^ Ditto ditto ditto March " 83 0 lot Ditto ditto ditto April " 93 18 g Ditto ditto ditto May 31 st " — 120 9 4 ,
In Hi months— £ 736 10 2 | The report shows that the increase of capital was , during the last five months £ 888 14 3 And that the profits during the same period were .. 401 7 7 This shows an increase of profit of than £ 80 month
average more per , or of about £ 1000 a year . The population of Limerick , not being equal to half the population ot Edinburgh and Leith , it mayreasonably be anticipated , that if three benevolent loan banks were established in Edinburgh , and one in Leith ,