PRICE AND EXPORT AGREEMENTS OF FOREIGN COMBINATIONS. 489

client during the preceding year, or in the months preceding his loss, if such loss
shall take place in the course of the first business year of the participation.
Any client who has given no orders to the members of the association for
8 period of two years shall be supposed to have dealt with a nonmember and
the present article shall be applicable to him.
ABTICLE XVII (A).

Each of the coparticipants shall pay into the hands of the manager within
eight days following the expiration of each month a sum equal to 13 per cent
of the gross amount of the invoices made out by him at the tariff of the
participation during the preceding month. Provided always that in the case
of contracts for forward delivery in hand at the date of signing these presents,
the prices of which are at least 15 per cent less than those of the new tariff,
the sum to be paid shall be reduced three-quarters of a per cent only, calculated
bn the tariff prices.
The sums thus paid shall serve to pay the expenses necessitated by the execution
 of these presents, to protect, when necessary, the general interests of the
association or even the private interests of one of the members in so far as
regards his manufacture of metallic capsules,
The balance shall be paid to the credit of the open account by the manager
in the name of each of the members, and shall be returned to him at the expiration
 of the association.
It must be clearly understood that the above-named expenses must be borne
by each member in proportion to his share in the participation.
ARTICLE XVII (B).

As soon as the reserve funds constituted by the payments provided under
Article XVII shall amount to 200,000 francs the rate at which these payments
are made shall be reduced to 1 per cent.
ArTIicLE XVIIL

The undersigned manufacturers appoint Mr. ——— as manager of their
participation association, which he hereby accepts.
The duration of the office of the manager shall be equal to that of the association.
 He shall, however, be liable to dismissal for incapacity or for bad
conduct on such a decision being arrived at by a majority of three-fourths of
the members of the association voting by show of hands only.
In this event, as also in that in which his functions should cease owing to
the premature dissolution of the association of participation, the manager
will have no right to any claim for damages.
The manager may control as and when he may deem fit the accuracy of the
amount of business which each member shall state to have been done by him,
and particularly the accuracy of the memoranda mentioned in paragraph 1
of Article XV.
Each of the coparticipants declares that he is willing to, submit to any
mode of inquiry prescribed by him and particularly to the examination of
their books and correspondence on the spot and to send all account books and
documents which may be requested.
ARTICLE XIX.

The manager shall, with the approbation of the committee, engage the staff
necessary for the management of the participation; shall control, either personally
 or through anyone approved by the committee whom he may appoint,
the operations prescribed and regulated by the present agreement; shall pronounce
 and apply the penalties provided by the contract; and shall in short
do everything which may be necessary and requisite for the loyal and exact
execution of these presents. The manager must act as regards third parties
in his own name and for his account without mentioning to such third parties
his connection with the members of the participation.
ARTICLE XX.

The accounts drawn up by the manager shall be controlled by the technical
committee of four members hereinafter mentioned or by such expert to whom
they may delegate their power.