The Delaware gazette — Wilmington [Del.], 1810-04-11 00:00:00, page 1

THE DELAWARE GAZETTE.
WILMINGTON, WEDNESDAY, APRIL II, J8JO.
NO. 79
VOL. I.J
Cite
Wilmington & Brandywine Bank.
up,
der
AGREEABLY to adjournment the citizens of
the Borough of Wilmington, and i^ vic.m.y,
met on the 17th inst.at the houseof Edwai d
The Chairman and Secretary, appointed at last
Meeting, took their seat» :
The minutes of last Meeting being read, the
Committee appointed lor the purpose of
drafting Articles of Association for the pro
jected institution, made their report, which
being read by paragraphs, and maturely con
sidered, were unanimously adopted, as fol
be
lows t
The Articles of Association,
OF THE
BankofWilmington ^Brandywine.
TO all whom these presents shali come, ^
or
to whom they in any wise concern, Be it maue
known and made manifest, That We, thesub
sferibers, have formed a Company or limited
"Partnership, and do hereby associate an I agree
With each other to conduct business under the
name and title of "The PRESIDENT and
DIRECTORS of (he BANK ofWILMING
TON and BRANDYWINE."
And We do hereby mutually covenant, de
clare rnd agree, That the following are and
shall be the fundamental articles of this our As
sociation and agreement with each other, by
Which we, and all persons who at any time may
transact business with the said company shall
he hound and concluded.
ARTICLE I.
The capital stock of the said company shall
-ons''st of Two Hundred Thousand Dollars, in
monev of the United States, and shall be divi
ded in shares of 1'ifniDo/lrns each ; the amount
'ff the shares subscribed for shall be paid by
«fr* several respective subscribers into the
h vnds of the Directors, herein aficr named, in
co i «] or silver, or in Bank notes equivalent
thereto, In the following manner, to wit :
Five' Dollars shall be paid on each share at the
time of subscribing these articles, and. Inn
, Sl \atl he paid cn each share on every
succ-eding '^ys, until the payment ol
."r" : five dollars, on each share so stfbscrt
i i is completed ; and in case of non-payment
efth- said sunis of money at the time or times
spec lied, when they become payable the share
spec nett, -, j c. - pndupen which sue!)
,he remaining Twenty Five Dollars, on each
or
and every share so subscribed, shall ^ called
far and demanded at suet time and put x ami
in suet, proportions its the D'.reclois het eu al
ter mentioned, shall order and dutet , the
giving af least thirty days 'previous not.ee ol
such payment, in itie most pub.tc mannet that
►.tances and the nature of the case will
ct re um
f the
admit. Andin case of non-payment
residue, or any part thereof, at the tune cr
dividends on
times so required, the interest or
shares shall
all monies previously paid on
such
be forfeited to the Company.
ARTICLE II.
That the following persons are hereby con
stituted and appointed Directors of »aid Bank,
hold tlieir respective ol
and shall continue to
frees until the Srst Monday of April, one thous
and, eight hundred and eleven, and until they,
or their successors shall be duly elected, as
herein after provided.
AR TICLE III.
happen a
Should any vacancy at any tnn
gnation or
mon g the Directors, by death,
rt
for the
otherwise, the remaining Directors,
fill tuch
time being, shall elect a Director to
nntil the next election ; and on Hie
vacancy
said first Monday in April, 1«! L a:l<1 on every
succeeding year, a general meeting ol m
Stockholders of the said Rank shall be hohlen
at such place as the Board of Directors
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
fur 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
that an electien of
should happen at any lime
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 Dr
rectors for the time being are hereby required , 1
within ten days after such neglect to call a
meeting of the stockholders, for the purpose of
holding and making an election of Directors, in
MV manner us a majority of them fchai direct
.tui appoint.
111
ARTICLE IV.
Nope hut a Stockholder, being a citizen of,
■■ ml residing in the State of Delaware, shall be
eligible a« a Diret tor ; and no Directof of any
other Rank, or partner cf such Director, shall
at the same time, a Director of this Bank ;
■tu
and if any one of the Directors, after being c
nny time, «luring the term for
E'-ted, shali, a
been chosen, cease to be
Which he shall have
e elected or chosen a Direct
« Stockholder, m
Bank, the remaining Direct
or or in any otlre
a!*
nrs, or a majority of them shall (niter having
satisfactory itiforniotion of the same) at their
'• tt meeting, pass nn order dedaring him tints
"Sfi'ialified
nd no lont/cr a Director of the
''■••»I ÇUnk ; and shall foi thwith proceed to fill
up, by a new election his place for the remain
der of the time for which he shall have been
elected. Provided always, that it shall not be
lawful to re-elect more lh rn seven of the Di.
|
rector« of the former year.
ARTICÜE V.
The Board of Directors for the time being
as
shall have power to elect a President and Cash
t«
ier, and such other officers and Clerks under
them as «hall be necessary for executing the
business of the Company, and to alio
them
such compensation for their services respect
ively as they may deem reasonable, and 'shall
be capable of exercising such other powers and
authorities, and of making, revising, altering
of-«Tuitlifmg »ll »ueb-Uyt Law« and Kegulali
tions for the Government of the Company,aud
that of their officers and affairs as they, or a
majority of them shall, from time to time,think
expedient—not inconsistent with law or these
At tides of Association ;and to use.empioj, and
dispose of the Joint Stock,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 the transaction ofbusiness, of whom
the President shall always be one, except in ca
ses of sickness or necessary absence ; in which
his, place may b; supplied by any other
case
Director whom the majority of Diicctors pres
ent shall nominate for that purpose.
ARTICLE VIE
One share in the stock of this bank shall be
sufficient to entitle the holder.to one vote, hut
i.o person or persons body corporate or other
wise, shall be entitled to more than ten votes at
any election, agreeably to the following ratio—
A shares 1 vote.
Erom 1 to
2 do.
10 do.
From 5 to
From 10 to
3 do.
20 do.
4 do.
SO do.
Erom 20 to
n 30 to 4') do.
do.
5
T re
c>
tio.
From 40 to Ô0 do.
From 50 to (iO fo.
do.
70 do.
From (>0 to
8 do.
SO do.
From "0 ti
■I
10 do.
From 80 to 100 do.
Stockholders resident within the United States
may vote by proxy upon 'u-.n terms and condi
tions as may be prescribed by 'he bye laws and
ordinances of the association, but no
«hire or
shares shall confer the right of suffrage (except
at the first election,) which shall not have been
held under* regular transfer at lea«t three calen
der months previous to the day of the election.
ARTICLE VIIL
A majority of the directors shall hive power
to call a general meeting of the stockholders,
for purposes relative to the concern of the com'
it le««t thirty day« notice in the
party giving
or in such other the
newspapers of this plane,
manner 'lint the circumstances may
most public
specifying in such notices the object
admit and s
or objects of such
■eting.
ARTICLE J\.
1'hc c islfier before he enters upon the «in'ics
of Ins office, «hall be required to give bond with
two nr more sureties to the satisfaction of the di
rectors in such sum as the board of «Tiret tors
nws order and direct, from
may by tlieir bye
time to time, with condition for the faithful per
formance of his duties.
ARTICLE X
of the death, disqualification,
That In ra
removal or resignation of the piesident, the di
rectors shall appoint one from tlieir number to
fill the vacancy, who shall hold the office during
the remainder of his term far which his prede
cessor was elected.
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 be es
tablished in that respect, by the board of direc
tors.
ARTICLE XII.
No transfer of stock in this company shall he
considered as binding upon the company, unless
made in a book or hooks 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 thence
forth become and be a member of this company,
according to the articles of association.
ARTICLE XIII.
, 1
That the lands, tenements, and hereditaments
which it shall be lawful for the said company to
hold, shall be only such as shall be necessaiy for
its immediate acc.mmodation, in relation to «lie
convenient transacting of its business, and such
as shall have bren bona fide mortgaged to the
company by way of security, or conveyed to it,
or to some persbts irt' trust, for the use of rhe
company in satisfaction or security for money
actually loaned, or advanced, or in satisfaction
of, or security for deb« previously contacted
;
with, or due to the said company or purchased
at sales, upon judgments which shall have been
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 sell or
dispose of thé same in such mannerns they! shall
deem beneficial for the vise of the company.
ARTICLE XIV.
The company shall in nw case be owner* iy
any sli p 8 or vessels, or directly or indirectly be
ennee-ned in commerce,or insurance or in the im
portation or exportation, purchase or wie of any
| rods, wafer, or merchandize whatever, (bills of
ext'.ang', and bnllion only excepted,) except
such ships, «'cassis. g«jnda, wares,or merchandize,
as shall he truly transferred, conveyed or pledged
t« then by way of security f a money actually
loar.cii and advanced, or foe «lehrs due owing, or
growing •'uc to the i".id company, or purchased
by them tc secure suth dilrte, so «luÄ to It,«; s :d
Company, ai' to effect insurance oh the pmprm
that may belong, or he thus pledged to the said
-
company for its seenriiv.
ARTICLE XV'.
AÎ! bill«, bonds, notes, and every contractent]
«tp.p-ruit un behalf o£ the company, shall be
signed :.y the president, anti countersigned of at
a
test::! by the cashier of the company, and the
furls
if the company shall in no care be held
responsible for any contract or engagement what
ev,r, unless the same shall be so signed, counter
signed or attested as aforesaid, and the hooks pa
pers, correspondence, and the firm ht of the com
pany, shali at all times he subject to the inspec
tion of the diret bus.
ARTICLE XVL
Dividends
of the profits of the company,
or
of so ninth of the said profils as shall be deemed
expedient and. proper, shali be declared and paid
half yearly during the months of Janunty and
July in every year, except the first dividend which
shall be declared ir. the month of January eigh
teen hundred and eleven, and the said dividends
shall from time to time he determined by a ma
jority of the director«, at a meeting to he held
for that purpose, and shall in no case exceed the
amount of the nett profits at tually acquired by
the company, so that the capital stock thereof,
shall never be impaired by do blends.
ARTICLE XVÎI.
If the said directors shall :it any time wilfully
ami knowingly make or declare any dividend
which shall impair the said capital stock, all di
rectors who shall fie present at the making or
decl aring such di-idend and assenting thereto,
shall he liable in their individual capacities to the
company, for the amount or proportion of the
said stock, sb divided by the said directors, and
each director who shall be present at the making
nr declaring of such dividend, 'shall be deemed
to have consente«! thereto, unless be shall imme
diately declare in writing iris dissent, on the min
utes of the proceedings of the board.
AR TICLE Y VIII.
It is hereby expressly and explicitly declared
rev bv tn« ob}*«: oVrWc per«
sh
the firm of the president and d
nors of the
Bank of Wilmington-and Bra.«dy wine, that the
property or joint stork of said company (exclu
sive of the dividends to he made in the
manner
hetem mentioned,) shall alone he 'sponsible for
the debts and engagements of the company, -at!'.!
that no person who shall or may deal with the
said company, m to whom they shall nr may
become in Jny wise indebted, shill cn any pre
tence whatever have recourse against the seper
y of any present or future member-of
ate property
the company
ir.st their persons, but all
persons accepting any bond, bill, nute, or othci
contract of this company., signtd by the presi
dent, ar.d countersigned .by the cashier of the
company for the time being er «leafing with it in
any manner whatsoever, thereby give credit re
spectively to one joint stock or property of sai l
company, and thereby disavow bavin«
recourse
on any present or futuic member of tin« compa
ny except as abovementioned and all suits brought
against this company (if any shall he.) shall be
brought against the president for the time being,
and in case of h'.s death, or removal from office
pending any such suits against him, measure«
shall be taken at the ex-pence of the company for
substituting his successor in office as defend
ant, so that persons having any demands upon
the company may not he prejudiced or delayed
by that event, cr if the person sueing shall go on
against the person first named ai 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 man ner aforesaid
shall be conclusive upon the company, so far as
to fender 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, .the presi
dent shall sign his appearance ar $trcommon*
bad thereto, it being expressly nnders'oo I and
dc.laf'ed. that all persons,, dealing vv'qh the said
company agree to thejie terms, and arc to be
bound thereby. A J
AR'meï.'E XIX.
The dlrectors shall keep fair and regular en
tries in a hook provided for that purpose of their
proceedings, ar.-l on any question where tori di
rectors shall require it, the year, and navs of the
directors voting shall be duiy inserted on their
minutes, and those minutes be at all times on
demand produced to the stockholders when at
a general meeting the same shall he required.
" ARTICLE XX.
The association shall continue until the twen
tieth day of January, one thousand eight h
ni
deed and fortv and no longer—but the proprie
tors of tWo-fhir«is of the capital stock of the
company may by their concurring votes at a
general meeting to be called forthat express pur.
pose, dissolve the same at any prior period, pro
vided that notice of such meeting and of its ob.
jec.t shall be published in the news-papers of th
iy borough of Wilmington, and such other, ti).
most public notice the nature of the case may
require for at least sis .months previous to the
time sopointed foi inceNnnr.
ARTICLE XXL
T hese articles of agreement shall he published
in the news-pa peri of the borough of Wilming
ton .'or One month, and for the fuithcr informa
ti
, *'• P —ons who may transact business
'.'. I II , or in any manner give credit to this com
piny every bond, bill, note or other instrument "■
cl contract by the effect or terms of which the '
c'-mp.iny may be charged-or held liable f j the
- n mr„t of money, shall specially declare in such
r
manner as the board of director« may prescribe
that payment shail be made cut of the joint
funds of thi- company, according to the present
article« of tins asFocbuor, acdnnt otherwise, ami
a copy of the 18th artielc «if this association
shall be inserted in the bank book Of every, per
y.tr
son depositing money or other valuable property
with liie company for safe custody, or a printed
copy Shall be delivered to every '"person'before
any such deposit shi'1 have been received.
.And it is ex
'XprcBsiy (krittle! that no eno'a'yp-»
ment can be JegMIy made in the nariie of the s»a!
company unless it contains a limitation or re
striction to the effect above recited, arid the com
pany hereby expressly disavow all responsibility
for any défit or engagement which may be made
in their name, not containing a limitation,
or îe
striction to the effect aforesaid.
ARTICLE XXII.
. Immediately on the dissolution of this associtf*
tion effectual measures shall he taken by the ex
isting directors tor closing all the concerns of tb
company, and for dividing the capital and profits
which may remain among the stockholders in
proportion to their respective interests.
1m witness whereof we have hereunto set
our names and firms the day of
in the year of our Lord, one thousand eight hun*
drerl and ten.
Wilmington, March 21':
1 m
Dissolution of Partnership.
~1IIL partnership rf T-ran un <$* Rice is thi*
i
dissolved by mutual consent,
All nerson
g demands against said firm
liavin
are requester!
■scut them ; and those indebt
to
eel are desired
t
to make payment to enherof the subscribers.
Thomas Bradun,
Washington Rice.
Wilmington, Feb. 2'J, 1310. (iff tf
UV. shin ETON Ri CE,
iJPSPUiTFLLLY informs the old
c.u«
JlJiE miners of Br.ndun k Rice, and ih- publb
generally, that hr has purchased the stock of :h
said firm, and will continue the Grocer«
busi
ness, at the same stores. Where his friend
customers may he supplied with articles in h'
line, Wholesale and Retail, on reasonable terms
February 2 t.
if
Patent Washing Machines.
r K A ME subscriber respect!'
informs hi*
ri friends aiuLtbe public ir
ncr.il, that he
has, some time ago, purchased
x cl iis
gnt
of making and vending VatenlWksi
Mttchinc\
throughout the hundreds of Brandywine and
Christiana, in Ncw-Castle county, a number oi
which machines he has already made, which
have been tried by divers persons and highly ap
proved of, ?s they save a great part ol the labour
of washing in the
d way, and are less injuri
tint':
ous to clothes.
He
vilkcontinne to make and
have a Supply of them on band, 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, Î 80?« .
tf
BREWING.
r l'IEs ubsççiber having commenced Brewing
for the season j begs leave to ti.forin hie
Town and Country Customer« that he has
S7 !tONil fi- TAHI.E I1F.F.R of an excellent
quality constantly on hand, which lie will dis
pose* of at the usual piiccs. All orders will be
promptly attended to.
Joseph B. Shipley,
rrrv
-?//» Nov. Î, 1809.
rw/A
John Dixon
T T«WING 6ucce>*(le(] Warners L? Tor*
il belt in the grocery business, at the
stores lately occupied by them on Market
street wharf ; offers for sale on the most
moderate terms,tor «.r.sh or the usual credit,
A General Assär 'rient oj Groceries.
And hones by a strict attention to busi
ness, to merit a share of the public patron
age.
The Packet, Si.oop Hope, Capt.
Milner, with pood p.ccwmmodations for
passengers, will ply between this Town 8e
Philadelphia as usual—all freight sent hr
said packet will be carefully attended to.
Wilmington, July 8, 1809.
Horse Bills,
Struck off at an hour's notice, at the Office of thi.%
Gaeett*, q^J*E!egant Horse figures.