The Delaware gazette — Wilmington [Del.], 1810-04-14 00:00:00, page 1

THE DELAWARE GAZETTE.
SATURDAY, APRIL 14, 1810.
WILMINGTON
NO. 80
VOL. I.]
Wilmington Si Brandywine Bank.
up,
derof
AGREEABLY to adjournment the citizen« o
the Borough of Wilmington end 1 « ™ani«y,
met on the 17th inst.»t the house of Edward
The Chairman and Secretary, appointed at last
Meeting, took their seat* »
shall
The minutes of laat Meeting being read, Urn
ier,
of
Committee appointed lor the purpose
them
drafting Articles of Association for the pro
iected institution, made their report, which
such
being read by paragraph*, and maturely con
ively
sidered, were unanimously adopted, as fol
be
lows s ,
The Articles of Association,
or
tions
GT the
that
BankofWilmington ^Brandywine.
TO all whom these presents shall come,
or
cx
to whom they in any wise concern, Be it made
known and made manifest, That We, thesub
•cribers, have formed a Company or limited
the
Partnership, and do hereby associate and agree
with each other to conduct business under the
t
The PRESIDENT and
name and title of
DIRECTORS of the BANK of WILMING
TON and BRANDYWINE."
And We do hereby mutually covenant, de
the
clare end agree. That the following
mk!
aes
shall bo the fundamental articles of this our As
case
sociation and agreement with each other, by
which we, and all persons who at any time may
ent
transact business with the said company shall
he bound and concluded.
ARTICLE I.
The capital stock of the said company shall
no
consist of Two Hundred Thousand Dollars, in
of the United Stales, and shall be divi
money
any
ded in shares of Fifty Dollars each ; the amount
of the shares subscribed for shaU, be paid by
the several respective subscriber* into the
hands of the Directors, herein after named, in
gold or silver, or in Bank notes equivalent
thereto, in the following manner, to wit :
Fite Dollars shall be paid on each share at the
time of subscribing these articles, and Five
Dollars shall be paid on each share on every
succeeding thirty days, until the payment oi
Twenty-five dollars, on each share »o subscri
bed is completed ; and in cait ol non-payment
may
of the said sums of money at the time or times
specified, when they become payable, the share
or shares subscribed for, and upon which Mich
default of payment arises, shall be forfeited to
at
the company, together with nH and every sum
held
•r sums of money previously paid thereon : and
der
the remaining Twenty Five Dollurs, on each
ond every share so subscribed, shall be called
for and demanded at such time and place and
to
in'such proportions as the Directors herein el
for
ver mentioned, shall order and direct ; the)
,'ious notice of
giving at least thirty days prev
such payment, in the most public muntierthat
circumstances and the nature of the case will
And in case of non-payment of the
pdimt.
or
residue, or any part thereof, at the time or
or dividends on
times so required, the interest
all monies previously puid on such shares shall
of
be forfeited to the Company.
ARTICLE If.
That the following persons are hereby con
stituted and appointed Directors of said Rank,
and shall continue to hold their respective of
fices until the first Monday of April, one thous
and, eight hundred and eleven, and until they,
their successors shall be duly elected, as
or
herein after provided.
ARTICLE 111.
Should any vacancy at any time happen a
mong the Directors, by death, resignation or
otherwise, the remaining Directors, for the
time being, shall elect a Director to fill such
vacancy until the next election ; and on the
said first Monday in April, 1811, and on every
succeeding year, a general meeting ol the
Stockholders of the said Bunk shall be holden
at such place as the Board of Directors shall
appoint, by notice given in the most public
manner the nature of the case will admit, at
least fifteen days next antecedent to such meet
ing, for the purpose of electing nine Directors
for the ensuing year ; and the said Directors,
«hu» elected, shall, at their first meeting after
such election in each year, choose one of their
number ns President : Provided, that in case it
should happen at any time that an election of
Directors should not be made upon any day
when, pursuant to these articles, it ought to
have been made, it shall be lawful, and the Di
rectors for the time being are hereby required,
within ten days after such neglect to call a
eeting of the stockholders, for the purpose of
holding ami making an election of Directors, in
such manner as a majority of them sind direct
and appoint.
ARTICLE IV.
None but s Stockholder, being a citizen of,
and residing in the State of Delaware, shall be
eligible as a Director ; and no Director ol any
other Bank, or partner of such Director, shall
be, at the same time, a Director of this Bank ;
and if any one of the Directors, after being e
lccled, shall, at any time, during the term for
which he shall have been chosen, cease to be
a Stockholder, or be elected or chosen a Direct
or of in any other Bank, the remaining Direct
ors, or a majority of them shall (after having
«aûsfaotory information of the same) at their
t.vtt meeting, pass an order declaring him thus
"''.qualified, and no longer a Director of the '
tsid ftank ; and shall liurthwith proceed to fill
up, b; v a new élection hi» place for the remain
derof the time for which he shall have been
electa d. Provided always, that it shall not be
lawful to re-elect more than seven of the Di
rector* of the former year,
ARTICLE V.
The h'oard of Directors for the time being
as
to
shall hav. e power to elect a President and Cash
ier, and m ich other officers and Clerks under
them as at tall be necessary for executing the
by
business ot ' the Company, and to allow them
such comp ensation for their service* respect
ively as the y may deem reasonable, and shall
be capable ô f exercising such other powers and
authorities, a rid of making, revising, altering
or annulling i dl such Bye Laws and Regulati
tions for the Government of the Company,and
that of their olTicers and affairs as they, or a
majority of the m shall, from time to time,think
pedient—not inconsistent with law or these
cx
Article* of Ass. tciation ;antl to use,employ, and
dispose of the J oint Stock,Funds or Property of
the Company (i object only to the restriction
herein containea 1 ) as to them, or a majority of
hem shall aecia expedient.
t
.ARTICLE VI.
Kot less than five Directors shall form a
Bob«! for the tran saction of business, of whom
of
the President shah 1 always be one, except
ca
aes of sickness or necessary absence ; in which
case hi* place may be supplied by any other
Director wl'.'om the majority of Directors pres
ent shall non.'inatc for that purpose.
ARTICLE Vlj.
One share in the stock of this bank shall be
sufficient to entitle tit e bolder to one vote, but
no person or persons b.idy corporate or other
wise, shall be entitled to more than ten votes at
any election, agreeably ti > the following ratio—
5 .shares 1 vote.
From 1 to
10 do.
2 do.
From 5 to
3 do.
20 o'o.
F rom 10 to
4 do.
30 do.
From 20 to
do.
From 30 to 40 do.
6 do.
50 do
From 40 to
7 do.
From 50 to 60 do.
8 do.
From 60 to 70 do.
y do.
F'roin 70 to 80 do.
.10 do.
From 80 to 100 do.
Stockholders resident within the United States
or
may vote by proxy upon such tertras and condi
to
tions as may be prescribed by the bye laws and
ordinancas of the association, but no share or
shares shall confer the right of suffrage (except
at the first election,) which shall not have been
held under a regular transfer at least three calen
to
der month« previous to the day of the election.
ARTICLE VIII.
A majority of the directors shall liave power
all a general meeting of the stockholders,
to
relative to the Concern of the com
for purposes
pany giving at least thirty days notice in the
the
papers of this place, or in such other the
news
t
mort public manner that the circumstances may
admit and specifying in such notices the object
or objects of such meeting.
AL L 1GLL IX. ate
The cashier before he enters upon the «luttes
of his office, «hall be required to give bond with
sureties to the satisfaction ol the dl
two or more
.rotors in such sum as the board of diieitois
ws order and direct, from
may by their bye la
time to time, with condition for the faithtul per
formance of his duties.
ARTICLE X.
That in case of the death, disqualification,
removal or resignation of the president, the di
rectors shall appoint one from their number to
fill the vacancy, who shall hold the office during
the remainder" of his term for which his predc
clectcd.
cessor was
ARTICLE XI.
The shares of the capital stock shall be trans
ferable on the books of the company, according
to such rules, as conformable to law, may lie es
tablished in that respect, by the board of direc
tors.
ARTICLE XII.
No transfer of stock in this company shall be
: sidered as binding upon the company, unless
cons
at
made in a book or books kept for that purpose
by the company,and it is further expressly agreed
and declared that any stockholder who shall
transfer in manner aforesaid, all his stock or
shares whatever shall thenceforth cease to be a
member of this company, and any person
or
it
persons whatever who shall accept a transfer of
of
any stock or share in this company shall thence
fcSrth become and be a member of this company,
to
according to the articles of association.
ARTICLE XIII.
That the lands, tenement«, and hereditaments
a
which it shall be lawful for the said company to
of
hold, shall be only such as shall be necessary for
in
its immediate accommodation, in relation to the
convenient transacting of its business, and such
shall have been bona fide mortgaged to the
as
company by way of security, or conveyed to it,
of,
or to some person in trust, for the use of the
be
company in satisfaction or security for money
any
actually loaned, or advanced, or in satisfaction
of, or security for debts previously contacted
;
with, or due to the said company or purchased
e
at sales, upon judgments which shall have been
for
obtained for such debts, ami in every instance in
be
which the company may become owners or
claimants of lands, tenements, or hereditaments,
tire board of directors are empowered to sell or
dispose of the same in such manner as they shall
their
deem beneficial for the use of the company,
thus
ARTICLE XIV.
the '
The company shall ia n* case be owner» oy
fill
any sh'p- or vessel«, or directly or indirectly be
concerned in commerce, or insurance or in the im
portation or exportation, purchase or talc of any
goods, wares, or merchandize whatever, (hills of
exchange, and bullion only excepted,) except
such ships, vessels, goods, wares, or merchandize,
tn
as shall he truly transferred, conveyed or pledged
to them by way of security for money actually
loaned and advanced, or for debts due owing, or
growing due to the said company, ot purchased
by them to secure inch «it bis, so due to the said
company, or to effect insurance on the property
that may belong, or be thus pledged to the said
company for its security.
ARTICLE XV.
All bills, bonds, notes, and every contractant!
engagement on behalf of the company, shall be
signed by the president, and countersigned or at
a
tested by the catilicr of the company, and the
funds of the company ahull in no case de held
responsible for any contract or engagement what
ever, unless the same shall be so signed, counter
signed or attested as aforesaid, and the books pa
pers, correspondence, and the funds of the com
pany, shall at all times be subject to the inspec
tion of the directors.
ARTICLE XVI.
Dividends of the profits of the company, or
of so much of the said profils as shall fie deemed
expedient and proper, shall be declared and paid
half yearly during the months of January and
July in every ye .r, ext ept the first dividend which
shal 1 be declaied in the month of January eigh
teen hundred and eh ven, arid the said dividends
shall from tin.e to time be determined by a ma
jority of the director*, at a meeting to be held
for that purpose, und «hall in no case exceed the
amount of the nett profits actually acquired by
the company, so that the capital stock thereof,
shall never be impaired by dividends.
ARTICLE XVII.
If the said directors shall at any time wilfully
and knowingly make or declare any dividend
which shall impair the said capital stock, all di
rectors who shall be present at the making or
declaring such dividend and assenting thereto,
shall be liable in their individual capacities to the
company, for the amount or propoiaon of the
said stock, so divided by the said directors, and
each director who shall be present at the making
or declaring of such dividend, shall be deemed
to have consented thereto, unless he shall imme
diately declare, in writing his dissent, on the min
utes of the proceedings of the hoard.
ARTICLE XVIII.
It is hereby expressly and explicitly declared
to he the object of the personsjwho associate under
the firm of the president and directors of the
Bank of Wilmington and Brandywine, that the
property or joint stock ot said company (exclu
sive of t'ne dividends to be made m the manner
herein mentioned,) shall alone he responsible for
the debts and engagements of the company, and
t liât no person who shall or may deal with the
said company, or to whom they shall or may
become in any wise indebted, shall on any pre
tenet whatever have recourse against the seper
ate property of any present or future member of
the company, or against their persons, but all ^
persons accepting any bond, hill, note, or other
contract of this company, signed by the jiresi
dent, and countersigned by the cashier of the
company for the time being or dealing with it in
any manner whatsoever, thereby give credit re
spectivcly to one joint stock or properly of said
company, and thereby disavow having recourse
on any present or futuic member of this coitipa
ny except as abovementioned and all suits brought
against tl is company (if any shall be,) shall be
brought against the president for the time being,
and in case of his death, or removal from office
pending any such suits against him, measures
shall be taken at the expence of the company for
substituting his successor in office as defend
ant, so that persons having any demands upon
the company may not be prejudiced or delayed
by that event, or if the person seeing shall go on
against the person first named as defendant (not
withstanding his death or removal from office,)
this company shall take no advantage by writ of
error or otherwise of such proceeding on that
account, & all recoveries had in manneraforesaid
shall be conclusive upon the company, so far as
to render the company's said joint stock or pro
perty liable thereby and no further, and the com
pany shall immediately pay the amount of such
a
recovery out of their joint stock, but not other
wise, and in case of any suit at law, the presi
dent shall sign his appearance or file common
bail thereto, it being expressly understood and
declared that all persons dealing with tiie said
company agree to these terms, and ate to be
bound, thereby.
ARTICLE XIX.
to
The directors shall keep fair and regular en
tries in a book provided for that purpose of their
proceedings, and on any question where ton di'
rectors shall require it, the yeas and nays of the
directors voting shall be duly inserted on their
it,
minutes, and those minutes be at all times on
demand produced to the stockholders when at
a "eneral meeting the same shall be required.
ARTICLE XX.
The association shall continue until the twen
tieth day of January, one thousand eight hun
dred and forty and no longer.—but the proprie
in
tors of two-thirds of the capital stock of the
or
company may by their concurring votes at a
general meeting to he called forthat express pur.
or
pose, dissolve the same at any prior period, pro
vided that notice of such meeting and of its oh.
ject shall be published in the news-papers of the
oy borough of Wilmington, anil stdi other, th„
most public notice the nature of the case maf
require for at least six months previous to tha
time appointed for such meeting.
ARTICLE XXL
These articles of agreement shall be published
tn the news-papers of the borough of Wilming
ton lor one month, and lor the further informa
tion of all persons who may transact business
with, or in any manner give credit to this com
pany every bond, bill, note or other instrument
of contract by the effect or terms of which the
company may he charged or held liable for the
payment of money, shall specially declare in such
manner as the board of directors may prescribe,
that payment shall be made out of the joint
funds of this company, according to the present
articles of this association, and not otherwise, and
a copy of the 18th article of this association
shall be inserted in the bank book of every per
son depositing money or other valuable property
with the company for safe custody, or a printed
copy shall be delivered to every person before
any such deposit sha.l have been icceived.
And it is expressly declared that
no engage
ment can be legally made in the name of the said
company unless it contains a limitation or re
striction to the effect above recited, and the
com
pany hereby expressly disavow all responsibility
for any debt or engagement which may be made
in their name, not containing a limitation, or re
striction to the effect aforesaid.
ARTICLE XXII.
Immediately on the dissolution of this associa
tion effectual measures shall he taken by th
e ex
isting directors for closing all the concerns of the
company, and for dividing the capital and profits
which may remain among the stockholders in
proportion to their respective interests.
In witness whereof wit have hereunto set
our names and firms the day of
in the year of our Lord, one thouaand eight hur.*
dre.l and ten.
Wilmington, March 21.
1m
Dissolut ion of Partnership.
7TTTHE partnership of llredun l
.)• Jlice is thi
't dissolved by mutual consent.
All persons
having demands against said firm are requested
to present them ; and those indebted are desired
to make payment to either of the subscribers.
Thomas Brarlun,
Washington Rice.
Wilmington, Feb. 20, 1810, 66 tf
WASHINGTON RICE,
ESPECTFUf.LY informs the old
Clts
IL1L miners of Bradun & Rice, and the public
generally, that he has purr based the stock of the
said firm, and will continue the Grocery busi
ness, at the same stores, where his friends and
customers may be supplied with articles in hi
line, Wholesale and Retail, on reasonable terms.
February 24.
If
P a + en t WasTvinP* Machines
tollt i. luUUUCs.
^ I ^HIh subscriber - respectfully informs his
Jl friends and the public In general, that he
has, some time ago, purchased an exclusive right
of making and vending Patent JVashing Machines
throughout the hundreds of Brandywine and
Christiana, in New-Castlc county, a number of
which machines he has alrpady made, which
have been tried by divers persons and highly ap
proved of, as they save a great part of the labour
of washing in the usual way, and are less injuri
ous to clothes. He will continue to make ami
bave a supply of them on hand, which he will
sell on reasonable terms to such as favour him
with their custom ; and will also sell to any per
son a right to make and use them within the
the hundreds aforesaid,
ABRAM G EST.
Wilmington, Jan. 21,1809.
tf
BREWING.
T HEs ubscriber having commented Brewing
for the season, begs leave to inform his
Town and Country Customers that he ha*
STRONG Sr TADLE DE Ell of an excellent
quality constantly on hand, which he will dis
pose of at the usual prices. All orders will b«
promptly attended to.
Joseph B. Shipley,
Wilmington, A at. 1, 1809.
John Dixon
AVING succeeded Warners L?
7 ar
H
hert in the grocery business, at the
lately occupied by them on Market
stores
street wharf ; offers for sale on the most
mode: ate terms,for cash or the usual credit,
A General Assortment oj Groceries.
And hopes by a strict attention to busi
ness, to merit a share of the public patron
age.
The Packet, Sloop Hope, Capt.
Milner, with good acwmmodations for
passengers, will ply between this Town Sc
Philadelphia as usual—all freight sent by
said packet will be carefully attended to.
Wilmington, July 8, 1809.
a
Horse Bills,
Struck off at an hour's notice, at the Office *f this
the
rrt-Elegant Horse flutes.
Gazette.
th„