48 
II,—PRIVATE FIRMS AND COMPANIES. 
of the wages or salary of each member, and of each 
employee under 16 years of age.” 
It is provided that “ all sums received by the Society, under 
arrangements of or with Gilbert Brothers, for sharing profits with 
its employees, shall he treated as capital and not as income of this 
Society. They shall be invested according to the rule with 
respect to investment set forth below and credited in the books 
of the Society, as follows: — 
“ (1.) Each member of the Society shall be credited with 
the amount received by the Society as dividend or 
bonus on his wages or salary, such amounts not to be 
withdrawn so long as he is a member of the Society 
and has less than £200 fully paid-up in the shares of 
the Society; but, whenever there is a sufficient sum 
standing to his credit, enough shall be transferred to 
his share account to create a fully paid-up share in the 
Society until he has £200 fully paid-up in the shares 
of the Society; and application for membership of the 
Society shall be taken to include application from time 
to - time for any such share or shares. 
“ (2.) Any amount received by the Society in respect of an 
employee under 16 years of age shall be entered in his 
name until he is 16 years of age. If he then, or within 
one year afterwards, becomes a member, it shall be 
transferred to his share account, and otherwise to 
Part B. 
“ (3.) The Society shall hold that part of its capital repre 
senting Part B as a Non-Members’ Provident Fund 
for the benefit of all employees of Gilbert Brothers, 
who, from time to time, are not members of the 
Society, or their wives, children, or widows, or persons 
dependent on them, to be administered under regu 
lations made by the committee of management of the 
Society from time to time and approved by the 
managing partners of Gilbert Brothers.” 
Shares are to be of two kinds, “ Invested ” and “ Accumulated.” 
The latter shall be shares paid-up in the manner stated above under 
(1) and (2). All other shares shall be called Invested Shares. 
Invested Shares shall have preference both as to payment of 
dividend and in case of a dissolution of the Society. No person 
shall hold more than £100 in Invested Shares. 
The capital of the Society, except such sums as may appear to 
the Committee to be likely to be necessary to meet the current 
expenses of the Society, and to pay out any of its members who 
may at any time cease to be employees of Gilbert Brothers for 
at least six months, or to satisfy the purposes for which the Non- 
Members’ Provident Fund is held, shall, in furtherance of its 
objects, be applied in augmentation of the Society’s share or 
interest in Gilbert Brothers as a limited partner therein, or in 
the purchase of the whole of such business. Subject to the above, 
the Committee may invest in the manner provided in the general 
rules.