577
the Governor for his advice and decision
The following
are
the terms or
conditions which have been mutually
arrived at
The business of the Man to Sang Company shall consist of One thousand four hundred shares, that is to say, Van Chun Wai and others 400 shares, See Sing Khai and others 400 shares, each share paying $1,000 capital, making $400,000 in all.
From the date of the partnership of this company, each shareholder shall first pay $400 per share as capital to be paid within one month, the balance of capital, that is to say $600, shall be retained by each shareholder until such time when the same shall be called for. The manager may at any time call a meeting of the Directors to discuss and decide upon making the call, of which previous notice will be given, and the time fixed to collect the same.
The capital which has been paid shall bear interest at the rate of 12 per cent per annum, which interest shall be paid from the day when the capital is paid.
If a shareholder shall be unable to pay the capital due on his share, interest shall be reckoned at the rate of $1 per $100 per month from the date due until paid.
If the time for payment is long...