The Delaware gazette — Wilmington [Del.], 1810-04-07 00:00:00, page 1

THE DELAWARE GAZETTE.
WILMINGTON SATURDAY, APRIL 7, 1810.
NO. 78
VOL. l.J
Wilmington St Brandywine Bank.
AGREEABLY to adjournment the citizens of
the Borough of Wilmington, and its vicinity,
the 17th inst. at the house of Edward
met on
Thomas. . .
The Chairman anil Secretary, appointed at Iasi
Meeting, took their seats : _
The minutes ol last Meeting being read, the
of
Committee appointed lor the purpose
drafting Articles of Association for the pro
jected institution, made their report, which
being read by paragraphs, and maturely con
sidered, wem unanimously adopted, as fol
lows :
The Articles of Association,
OF THE
Bankof Wilmington y>B randy wine.
TO all whom these presents shall come,
or
to whom they in any wise concern, Be it made
known and made manifest, That We, thesub
scribers, have formed a Company or limited
Partnership, and do hereby associate and agree
■with each other to conduct business under the
and title of " The PRESIDENT and
mini'
DIREfc TORS of the BANE of WILMING
TON and BRANDYWINE."
And We do hereby mutually covenant, de
clare sud agree, That the following are and
shall be the fundamental arlicle&of this our As
sociation and agreement with each other, by
which we, and all persons who at any lime may
transact business with the said company shall
be bound and concluded.
AR TICLE I.
f the said company shall
The capital stock
consist of Tivo Hundred T/iuUsaml IJotturs , in
money of the United States, und sludi be divi
ded in shares of J-iftp Dollars each ; the amount
of the shares subscribed lor shall tie paid be
subscribers into the
tliii several respective
hands of the Directors, herein after mimed, in
Bank notes equivalent
or in
gold or silver,
thereto, in the following manner, to wit :
r; v e Dolluis shall be paid on each share at the
these articles, and Pive
time of subscribing
Dollars -hall he paid on each share on every
succeeding ihiity days, until the payment of
Twenty-five dollars, on each share so subscri
if nun-payment
bed is completed ; and in case
ol the said sums ol money at the time or tunes
specified, when they become payable, the share
{
or share, subscribed lor, and upt n w ech such ,
j
default of payment arises, shad he lorfcited to
I
the company, together with a,l and every sum
I
sums of money previously paid thereon : and
or
the remaining 1 went y rive Dollars, (
olt eacn
end every share so subscribed, sh.nl be culler:
!
I
for anil demanded at such time and piano and
in such proportions as the Directors herein id- |
ver mentioned, shall order avid uirect ; they
giving at least thirty days previous notice
1
such payment, in the most puulic niuntierthat
circumstances and the nature ol the case will
And in case ol non-payment of the
admit.
residue, or any part thereol, at tf.e time or
times r.u required, the interest or dividends on
all monies previously paid on such shares shall
be forfeited to lire Company.
ARTICLE II.
That the following persons are hereby
con
stituted and appointed Directors of said Bank,
and shall continue to hold their respective of
fices until tlie first Monday of April, one thous
and, eight hundred and eleven, and until they,
or their successors shall be duly ulected,
:
herein after provided.
article in.
Sliouhl any vacancy nt any time happen a
mong the Directors, try death, resignation or
Directors, for the
otherwise, the remaining
fill such
time being, shall eletl a Director
a
vac nicy until the next election; and on the
said first Monday in April, 1811, and ou every
succeeding year, a general meeting ol the
1 the said Bunk shall be holden
Stockholder
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
'.east fifteen days next antecedent to such meet
ing, for the purpose of electing nine Directors
far the ensuing year ; and the said Directors,
thus elected, shall, at their first meeting after
such election in each year, choose one of their
number as 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 afrer Mich neglect to call r
meeting of the stockholders, for the purpose ol
election of Director's, in
nil making
lioUEu
an
such manner as a majority of them sind direct
and appoint.
ARTICLE IV.
None but a Sure-kho'der, being a ehrten of,
in the State of Delaware, shall be
, 1 ( 1 : 11 !
n
Dire, tor; and no Director ol any
i'cle
Rank, oi partner of such Director, shall
ot I
the same time, a Director of this Bank ;
lit
and if any one ill tiie Directors, after being e
h' led, shall, at any time, (luring the term for
"hich Ire shall have I, .-en chosen, cease to be
r chosen a Direct
a ''stockholder, tu he e
ad
the remaining Direct
or or ill any otl
Bank.
ors, nr a majority of them shall (after having
•atistactory infoi-mainm of the same) at their
t'cvt nwetin
rdst declaring him thus
puss an
disrnniliSed,
ser a Director cf the
ml no I
said Bank
tbvt )>«Uh proceed to fill
and
up, by a new election ''is place for the remain
der of the time for which he shall have been
elected. Provided always, that it shall not In;
lawful to re-elect more than seven of the Di
rectors of the former year.
ARTICLE V.
The Board of Directors for the time being
shall have power to elect a President and Cash
ier, and such other officers and Clerks under
them as shall be necessary for executing the
business of the Company, and to allow them
such compensation for their services respect
ively as Urey may deem reasonable, and shall
be capable of exercising such other powers and
authorities, and of making, revising, altering
or annulling'oll such Bye Laws and Regulati
tions for the Government oT the Compatiy.and
that of their officers and affairs as they, or a
sjority of them shall, from time to time,think
in
expedient—not inconsistent with law or these
Articles of Association ; and to use,employ, and
disposent the Joint block,funds or Property of
the Company (subject only to the restriction
herein contained) as to them, ora majority of
them shall seem expedient.
ARTICLE VI.
Not less than five Directors shall form a
Board for ihe transaction of business, of whom
the President shall always be one, except in ca
ses of sickness or necessary absence ; in which
case his place may be supplied by any other
Director whom the majority of Directors pres
ent shall nominate for that purpose.
ARTICLE VII.
One share in the stock of this bank shall be
sufficient to entitle the holder to one vote, but
persons body corporate or other
no person or
ise, shall he entitled to more than ten votes at
atio—
any election, agreeably to the following i
5 shares 1 vote.
From t to
do.
! 0 do.
From 1 to
3 do.
From 10 to 20 do.
30 do. 4 do.
From 20 to
From 30 to 40 do.
(to.
10 do. G do.
From 40 t
(iO do. 7 do.
From .10 t
From liO to 70 do. 8 do.
From 70 to 80 do. f) do,»
Fioin 80 to 100 do. 10 do.
Stockholders resident within the United States
may vote by proxy upon Mich terms and condi
tions as may be prescribed by the bye laws and
{ ordinances of tha association, but no share or
j shares >'iiall reifer the right of suffrage (except
,
I at the first election,) which shall not have been
I held under a regular transfer at least three calen
der months previous tn the d ly of the election.
ARTICLE VIII.
! A majority of Ihe directors shall have power
I to call a gener .1 meeting <>f tr.e stockholders,
|
for purposes relative to the concern of the coni'
piny giving at least thirty days notice in the
newspapers of this place, or in such other the
manner that the circumstances may
most public
admit and specifying in such notices the object
or objects of su,b meeting.
ARTICLE IX.
The .cashier before lie enters upon the duties
of his office, shall be required to give bond with
two nr more sureties to the satisfaction of the di
rectors in such sum as the board of directors
may by their bye laws order and direct, from
time to time, with condition for the faithful per
formance of his duties.
ÀRTICLE 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
f his term for which his prede
the remainder
ccssor was elected.
ARTICLE XI.
7'lie shares of the capital stock shall be trans
ferable on the books of the company, according
to such rides, as conformable to law, may be es
tablished in that respect, by the board of direc
tors.
ARTICLE XII.
No transfer of stock in this company shall be
considered as binding upon the company, unless
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
persons whatever who shall accept a transfer of
any stock or share in this company shall thencc
fcA'th become and be a member of this company,
according to the articles of association.
ARTICLE XIII.
That the lands, tenements, and hereditaments
which it shall be lawful for the said company to
hold, shall he only such as shall he necessary for
its immediate accommodation, in relation to the
convenient transacting of its business, and such
as shall have been bona fide mortgaged to the
company by way of security, or conveyed to it,
or to some person in tiust, for the use of the
company in satisfaction or security for money
actually loaned, or advanced, or in satisfaction
of. or security for debts previously contsicted
with, or due to the said company or purchased
es, upon judgments which shall have been
at
obtained for such debts, and in every instance in
which the company may become owners or
claimants of lands, tenements, or hereditaments,
the board of directors are empowered to seller
dispose of the same in such manner as they shall
deem beneficial for the use of the company.
ARTICLE XIV.
The company shall in no case be owners o/
any ships or vessels, or directly or indirectly he
concerned in commette, or insurance or in the im
portation or exportation, purchase or sale of any (
goods, wares, or merchandize whatever, (lulls of
exchange, and bullion only excepted,) except
such slop«, vessels, goods, wares, or merchandize,
as shall be truly transferred, conveyed or pledged
to them by way of secu ity for money actually
loaned and advanced, or for debts due owing, or
growing due to the said company, or purchased
by them to secure such debts, so due to the said
company, nr to effect insurance on the property
that may belong, or be thus pledged to the said
company for its secuiity.
ARTICLE XV.
All bills, bonds, notes, and every contract and
engagement on behalf of the company, shall he
signed by the president, and countersigned or at
tested by the cashier of the company, and «lie
funds of the company shall in no case be 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 tire funds of the conj
psny, shall at all times be subject to the inspec
tion of the directors.
ARTICLE XVr.
Dividends of the profits of the company, or
of so much of the said profits as shall he deemed
expedient and proper, shall be declared and paid
half yearly during the months of January and
July in every year, except the firs; dividend which
shall be declared in the month of January eigh
teen hundred and eleven, and the said dividends
shall from time to time be determined by a ma
jority of the directors, at a meeting to be held
for that purpose, and shall in no case exceed the
an.ouut of the nett profits actually acquired hy
the company, so that the capital stock thcr.of,
shall never be impaired hy dividends.
ARTICLE XVfl.
If the said directors shall at any time wilfully
and knowingly make or der l ire any dividend
which shall impair tile said capital stock, all d
rec tor* who shall Ire present at the making or
declaring such dividend and assenting-thereto,
shall be I able in their individual capacities to the
company, for the amount nr proportion of the
said stock, *o divided tiy the said directors, and
each director who shall be present at the making
or declaring of such dividend, s.vil be deemed
tO'have consented thereto, unless he shall imme
diately declare m writing his dissent, on the min
utes of the proceedings of 'he board.
ARTICLE XVIII.
It is hereby expressly and Explicitly declared
to hr the object of the persons, who associate under
the firm of tt.e president and directors of the
Bank of Wilmington and Brandywine, that the
property or joint stock ot said company (exclu'
-ivcof the dividends to Ire made in the manner
herein mentioned,) shall alone he responsible for
the debts and engagements of the company, and
that no person who shall or may deal with tire
said company, or to whom they shall or may
become in any wise indebted, shall on any pre
tence whatever have recourse against the ieper
ate property of any present or future member of
the company, or against their persons, but all
persons accepting any bond, bill, ngtc, or other
contract of this company,-signed by the presi
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
spectively to one joint stock or property of said
company, and thereby disavow having recourse
on any present or futute member of this compa
ny except as abovementioned and all suits brought
against this company (if any shall be,) shall he
brought against the president for tire time being,
and in case of his death, or removal from office
pending any such suits agfinst him, measures
shall be taken at the cxpcncc 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 sueing 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, Sr all recoveries had in manner aforesaid
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
recovery out of their joint stock, but not other
wise, and in case of any suit at law, ttic presi
dent shall sign his appearance or file common
hail thereto, it being expressly understood and
declared that all persons dealing with the said
company agree to these terms, and are to be
bound thereby.
ARTICLE XIX.
The directors shall keep fair and regular re
tries in a book provided for that purpose of their
proceedings, and on any question where too di"
rectors shall require it, the yeas and nays of the
directors voting shall be duly inserted on their
minutes, and those minutes be at »11 times on
demand produced to the stockholders when at
a general 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 foitv and no longer—but the proprie
tors of two-thirds of the capital stock of the
company may by their concurring votes at a
general meeting to be called for that express pur
pose, dissolve tiic same at any prior period, pro
vided that notice of sueli meeting r.nd of its ob.
ject allai 1 be published in the news-papers of tile
o/ borough of Wilmington, asd such other, tb u
most public notice the nature of the case may
require for at least six months previous to the
time appointed lor such meeting.
ARTICLE XXL
These articles of agreement shall be published
in the news-papers ol the borough of Wilming
ton for one month, and lor the further informa
tion ol 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 be charged or held liable for the
payment of money, shall specially declare in such
manner as the board of directors may prescribe,
that payment shaH be made out of the joint
funds of this company, according to the present
articles of this association, and r.ot'other wise, and
a copy of the 18th article of this
association
shall be inserted in the bank book of every pet
son depositing money r* other valuable property
with the company ror safe custody, or a printed
copy shall be delivered to every person before
any such deposit shs.l have been received.
And it is expressly dit hired ihat.^io engage
ment ran be legally madf jo the uamc ofthc.siid
company unless it contains a limitation or re
•striction to the eli'ect above recited, and tire com
P*ny hereby expressly disavow edi responsibility
for any debt or engagement which may be made
in their name, not containing à limitation, or re
striction to the c/iect aforesaid.
ARTICLE XXII.
Immediately on the dissolution of this associa
tion elfcctual measures shall be taker, by the
I
isting directors for closing all the concerns of fra
company, and for dividing the capital and profil
winch may remain among the stockholders i..
proportion to their respective interests.
In witness whereof ws have hereunto s '.
our names and films the
(lav of
in tlie year oi our Lord, one thousand eight hun
dred and ten.
Wilmington, March 21
1m
Dissolut ion of Partnership.
HI IHE partnership of Braiun Sr Rire is ti ■
_1L dissolved by mutual consent. All perse ,
having demands against said firm are reques
ts pr< nt them ; and those indebted are desiini
to make payment to cither of the subreribers.
Thomas Bradttn,
Washington Rice.
Wilmington, Feb. 20, 1810. GG tf
WASHINGTON RICE,
Ï î) ESPECTFUF.LY informs the old
rev
ID turners of Bradun Sc Rice, and the pub!
generally, that he has purchased the stock oft 1
said firm, and will continue the Grocety bi
ness, at ihe same stores, where bis friends a
customers may be supplied with articles in I
line, Wholesale and Retail, on reasonable tern ..
February 21.
tf
P-vheE t Wllsh i D inn
__ lalllil.., did L-llllL...
TTTMIE subscriber respectfully informs 1 ■
* friends and the public in general, that 1 •
has, some time ago, purchased an exclusive rig..
of making and vending Patent Washing Muchi.i,
throughout the hundreds of Brandywine an,
Christiana, in New-Cast!e county, a number c
which machines he has already made, whirl
have been tried by divers persons and highly aj
proved of, as they save a great part of the labor ■
of washing in the usual Way, and are less injuri.
ous to clothes. He will continue to make urn -
have a supply of them on hand, which lie wit
sell on reasonable terms to such as favour him
with their custom ; and will also sell to any pri
son a right to make and use them within the
the hundreds aforesaid.
ABRAM GEST.
Wilmington, Jan. 21,1 809.
tf
BREWING.
r T"MlE* ubscriber having commented Brewing
J- far the season, begs leave to inform his
Town and Country Customers that he has
STRONG Sr TABLE BEER of an excellent
quality constantly on hand, which he will dis
pose of at the usual prices. All orders will be
promptly attended to.
Joseph B. Shipley,
Wilmington, Nov. 1, 1807.
John Dixon
AYTNG succeeded Warners Es 3 Tor
H
bert in the grocery business, at the
stores lately occupied by them on Market
street wharf j offers for sale on the most
moderate terms,for cash or the usual credit,
A General Assortment oj Groceries.
And hopes by a strict attention to busi
to merit a share of the public patron
ness
age.
The Packet, Sloop Hopr Capt.
Milner, with good accommodations 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.
Horse Bills
Struck off at an hour's notice, at the GE<
. e of this
G-cette, g j»Eleg»iu Hurse f.jrusju.