after mentioned, after applying from these profits
sufficient to cover six per cent. per annum upon
their stock subscribed for in semi-annual payments
to the stockholders, and the stipulated interest
upon all outstanding scrip of the Company thirty
per cent of the residue of the profits of each year
shall be paid in cash to the stockholders as a divi-
dend upon their stock, and the remaining seventy
per cent. thereof shall be apportioned among the
customers of the company, and scrip issued there-
for as in the next section provided.

Sec. 10. And be it enacted, That there shall an-
nually, at the time of ascertaining of profits
aforesaid, be credited in the books of said company
to each person or firm who shall have paid any
premiums to said company, which shall have been
earned during the preceding year, such a portion
of said seventy per cent. of profits ascertained as
aforesaid, as the amount of such earned premiums
daring such year paid by such person or firm (and
not returned) shall be of the whole amount of
premiums earned by said company (less returned
premiums) or risks terminating as aforesaid; and
thereupon the said company shall issue to such
persons or firms respectively, certificates declaring
him or them, or his or their assigns, to be entitled
to a portion of the invested funds of said company
equal to the amount so credited to him or them on
the books of the company as aforesaid) and also to
the receipt annually out of the interest or income
derived by said company from the investment of
said profits of an interest not exceeding six per
cent. per annum, and said certificates shall also
contain a proviso, that the amount named therein
is liable for any future losses of said company, as
provided in this charter; and also a proviso for
the conversion of the same into stock of said com-
pany in the case therefor in this charter provided.
But no person or firm shall be credited with, or
receive a certificate for a share of profits less than
two dollars, nor for any fractional excesses over
even twos of dollars; and all such share less than
two dollars, and such fractional excesses over ever
twos of dollars, shall be carried to the contingent
fund of said company, and applied on account of
charges and expenses. The fund represented by
48

Certificates of
profits to be is-
sued.