"In order that this department may be developed with the greatest sincerity and simplicity and with the utmost security an arrangement has been made with Charles Pratt whereby they have deposited $50000 of L,S Bonds as then its equivalent with Brooklyn Trust Company as security for their Bank to faithfully perform the following agreement –

First: They engage to become the general treasurers. Financial agents of the different members a who may form in an effort to save money or to buy a home, a depositors and to organize such different departments as may seem best adapted to help realize the above object.

Second: They engage also to take charge of the moneys deposited with them and to invest or keep it invested in real property or bond then stage a good dividend paying securities and to hold themselves ready at all times to repay upon thirty days’ notice any tall sum of money that shall here been invested with them or with any societies formed to carry out this purpose.

Third: In addition to the payment of the principal they are to pay interest at such rates as agreed on all sums that have been deposited with them and to all such other things as may be provided for in the sales of the associated.

Fourth: This agreement cannot be terminated without satisfactory notice and all the surplus profits of every kind after providing for actual express shall belong to the members."

From the subsequent pages, detailing out the operation of the Thrift