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The East River Savings Institution



As Amended October 9th, 1899.

THE CHARTER, or act of Incorporation of this Institution, and all legislative amendments thereto, and all Laws in relation to Savings Banks now in force, and hereafter to be passed, shall form and be a part of the By-Laws of the Board of Trustees of this institution.


Section 1. Whereas, the number of Trustees Reducing the Number of named in the Act incorporating this Institution Trustees; is twenty-eight (28), and as it is deemed Management and Meetings advisable to reduce said number, therefore of the Board. Resolved, that such reduction be effected gradually as vacancies occur, by death, resignation or forfeiture, until the number of said Trustees shall be reduced to twenty-one (21).

Sec. 2. The Institution shall be under the management and direction of the Board of Trustees and its officers, duly elected or appointed pursuant to its Charter and By-Laws.

Sec. 3. The regular meetings of the Board shall be held on the second Monday of each month, and the regular meeting in January shall be denominated the annual meeting. A quorum at any meeting shall consist of not less than seven Trustees, of whom the President shall be one; or in his absence he may be resented in forming a quorum by either of the Vice-Presidents in their order.


Sec. 4. At the annual meeting the Board of Trustees shall elect from their number by ballot, a President, two Vice-Presidents, who shall be designated on the ballots First and Second VicePresidents, and five members of the Finance Committee who, together with the President and the two Vice-Presidents, shall constitute such Committee; four of whom shall form a quorum.

The persons so elected shall hold their respective offices for one year, or until their successors shall have been duly elected.

Sec. 5. Extra meetings may be called by the President, or, in his absence, by one of the VicePresidents, or on the written request of five Trustees.


At the regular meetings the following shall Order of

be the order of business:

1. Reading the minutes of the last regular and any subsequent meetings of the Board.

2. Reading the minutes of the Finance Com


3. Secretary's report and general statement. 4. Reports of Committees.

5. Unfinished business.

6. New business.



Their Duties.

Section 1. The President shall preside at all Officers and meetings of the Board, and nominate all committees, unless otherwise provided for, and shall be ex-officio a member thereof; he shall have charge of all mortgages, stocks, scrip, and other property of the Institution, except the bonds (of which the Secretary shall have charge). He shall also have charge of the common seal, which he is hereby authorized to affix to satisfaction-pieces of mortgages and transfers, whenever the same shall become necessary. All satisfactions of bonds and mortgages shall be signed by the President and countersigned by the Secretary, or Assistant Secretary.

Clerks, Etc.

Sec. 2. It shall be the duty of the President to notify, in writing, the bank or banks in which the moneys of the Institution may be deposited not to pay any check unless the same be drawn and countersigned in the manner directed in and by Section 2 of Article VI.

Sec. 3. The First Vice-President shall, in the absence or inability of the President to act, perform the duties pertaining to the office of President, and in case of the absence or inability of the First Vice-President, the Second Vice-President shall perform such duties.


Section 1. The Trustees shall appoint a Secretary, Assistant Secretary, Accountant, Clerks, and such other persons as they may deem necessary, who shall hold their respective offices during the pleasure of the Board, and receive such compensation as the Board may direct. Before entering on the duties of their office respectively, they shall take and subscribe the following oath or affirmation:

I do solemnly swear (or affirm) in presence of the ever living God, that I will, to the best of my abilities, perform all such duties and services as shall be given me in charge, by virtue of my appointment to the office of-of THE EAST RIVER SAVINGS INSTITUTION of the City of New York; and that I will faithfully apply and protect

the funds and property of the Institution and account for the same, under the control of the President and Board of Trustees.

Sec. 2. The Secretary, Assistant Secretary and the other employees shall give bonds in such penal sums, with such good and sufficient securities as may from time to time be required and approved by the President and Finance Committee.

Sec. 3. It shall be the duty of the Secretary to attend at the Institution during the hours of business, and at such other times as may be necessary; he shall keep an account of all moneys received and paid out, collect the principal and interest of all loans and debts due the Institution, and deposit the same to the credit of The East River Savings Institution, in such bank or banks as the Finance Committee may direct, subject to the approval of the Board of Trustees; he shall make or cause to be made, the necessary entries in the pass-books of dealers and in the books of the Institution, and see that they be properly kept; he shall receive all applications, and submit them to the appropriate Committees; notify the Trustees and Committees of all meetings, be present and keep the minutes of such meetings, and prepare a monthly statement of the business of the Bank

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