Norfolk gazette and publick ledger — Norfolk [Va.], 1810-03-30 00:00:00, page 2

bj Mr,, !**•
f
flimteof Repress* •
titka oj iht Utktitd SfaUt •/' Jmei ica 'in Congftu
auombUd, That a 1mnk of the United States shell
be established, the capital stork ^hereof that] not
exceed 'twenty millions of dollars, divided into fifty
thmtsuud shares, tar h there being four hundred
dollars. And th« *Ob*rrrptinn« tow:irds ronstitut
ittft the Mid stork shaft on the first Monday of Or
Caber nest, be opened at Forttmountb in the state
twr nest,
•yte-H.
Hampshire, fur eight hundred and sixty
MBfhere
es ; at Boston, in the state of Massmhu
•etttTwr tw
tero thousand nine hum is l and fifty shares;
at , in the state «,f Connfeitrutt, for
one thousand two hundred and fifteen share* ; at
Providence, in the slate of Rhode Island, for three
hundred and forty seven shares ; at , in
the state of Vermont, for six hundred end ninety
foug shares; lit , in the state of New
York, for two thousand nine hundred and fifty
•hares ; at Trenton, in the state of N«.w Jersey,
for one thousand and forty five shares; at Phil.idtl
phia, in the si ate of Pennsylvania, for three tlo'u
Mnd ooe hundred and twenty-fit* shares; at D.i
ytr, in the State of Delaware, for three hundred
SUld forty-seven shares; at Baltimore, in the stale
of Maryland, lor one thousand five hundred and
OOd sixty two shares ; at Richmond, in the state
of Virginia, for tinee thousand eight hundred and
und twenty shares; at Raleigh, in the state of
North Carolina, lor two thousand and eighty-two
snarer; at mariesion, in the stated isouili Caro
lina, l*r one thousand three hundred end eighiy
eight chares ; at Mtlledgeville, in the state uf Geor
gia, for six hundred and ninety-1 our shares ; at
JLexinglpn, in the stale of Kenturky, for one thou
sand and forty-lire shares; at Knoxville, in toe
State of Tennessee, for five bundled and twenty-two
share,, f and at - , in the slate of Ohio,
far three hundred and forty seven shares, under the
. superintendence of each state of such persons, not
less than three, eg shall he appointed for that pur
pose by the president of toe United Stoles, (who is
hereby authorised to appoint the said persons ac
cordingly) which subscriptions shall continue open,
•ntil the whole uf the said stock shall have been
subscribed.
Sec. 2. And be it further enncled, That it shall
be lawful for any prison, being a citizen of the U.
States, ot of tbe territory thereof, co-partnership
composed of such persons or body politic, incorpo
rated within tbe United States, to subscribe for so
many.(hares, as he, she or they think fit, nut ex
ceeding one thousand, except as shall hereafter be
^provided in relation to the United States, and the
^states respectively ; and that the sums respective
Jpr subscribed except on behalf of tbe United States,
and the respective elates, shall be paya! le in gold
or silver, and shall be paya It- in four <-qu-l jnsUl
aaente, at the distance of six calender months Irani
each other; tbe first whereof shall be pikl at the
lime of subscripuon. *
§fr Sec. 3- And be it further enacted, That all those
leho ehall become subscribers to ihesaidbank, tbeir
■uccessors and assigns, shall be and are hereby ere
atedend made a corporation and body politic, by
the name and stile of tbe President, Directors and
Company of the Bank of tha United States ; and
shall so continue, until the fourth day of March, in
the year of our Lord, one thousand eight hundred
and fifty ; and by that name, shall be, and arc
hereby made able and capable in law, In have, pur
chase, receive, possess, enjoy and retain to them
«od their successors, hinds, riots, t-nements, here
ditaments, goods, chatties and effects of ahat kind,
nature or quality soever, to an amount not exceed
ing in the whole thirty miliums of dollars, including
•ibe amount of the capital stork aforesaid ; and the
aamy to sell, grant, demise, alu-n or dispose of; to
aue*and be sued, plead arid be iinp1e .fi d, answer
and be answered, defend and be defend, fi, in court*
of record, or any other place whatsoever. And
•Ho to make, have and use a common seal, and the
%une to break, alter and renew, at their pleasure;
and also to ordain, establish nod put in execution
•uch bye-laws, ordinances end regulations, as shall
•cem necessary andronvenient for the government
of the said corporation, not heiug contrary* to law,
'•r to tbe constitution thereof (lor which purpose.
general meeting! of tlie st..c khotd»rs shaft and may
be called by (he diiretors, ami in the manner here
inafter specified) and generally to do und execute
•II and singular acts*witters.and things, which u>
them it shall or may appertain to do ; sut jert m
Verlhclest to the rule* ami restrictions, limitations,
-Mid provisions hereinafter prescribed and declar 'd.
- Sec. 4. Aud be it further enacted, That for the
•Mil ordering of the uft.iiis of the said corporation,
there shall he twenty-live directors ; for twenty of
whom there shell be an election on the 6rst Mon
day in Jartuory in each year, by the stockholders or
proprietors of the capital stork of the said corpora
lion, and by plurality of the suits actually given,
•od five of whom shall be appointed as is iirninif.
ided ; and those ehn shall be duly chosen
flection, and appointed as prov:ci«>d, shall
Irlaof serving as directors, bv virtue of such
choice and appointment until the end or expiration
•fib* Monday in Jenu-iry next ensuing the time of
•tick,election, and no longer. And the said direr,
tori, at their jiist meeting after each election, shall
choose one of their members us president,
Ser. 5. And be it father tnacieJ, That at the
expiration of twenty days after the opening of the
•aid subscriptions, it shall he the duty of the per
•ona Igping the sup«intend.M»ce of the same to
^UtsinU «0 account to the scoretai y of the treasu
re of the amount of subscriptions upon their books
IMpM lively, and of the money actually paid, on
'CCCMHrt of such subscription*, and as soon as it
•hall appear to turn that the t urn of four millions of
tdo!)ars nave been actually received cu account of
.Saberrsptteo* to said stock, he shall cause due pub
Jirk nolle*'thereof to be given. and he shall at the
it) like manner notify • time and place
Philadelphia at the distance of
the time of atirh notideution for
s election of twenty directors ; end
iwful Aw *urh election*to be then and
irapee who sbait he then and
,m—... Wilh &sadiret Ursio U nn
CsMMUMiaaert of the sinking fund
— -- v- % of them, ar#
ipointment at
rttfe
Wm<*
i*«?a the same.
Sec. J. Anri he it further enacted. That the fol
lowing restrict i>fts, limitations ami provisions,
shiil! form and if tHWlamental articles ot the con
stitution of the s ,i«J corporation, vi*.
1. The number of votes ta which each stockhol
der shall he entitled, shall heaccording to the num
ber of sliaris ne shall hold, in the proportions fol
lowing, that is to say : For one share and not more
than two shares, one vote : For every two shares
ahuve two, and not exceeding ten, one vote : For
every lour shares above ten, and not exceeding thir
ty, one vote: For every six shares above thirty,
and not exceeding sixty, one vote : For every eight
shares above sixty, and not exceeding one hundred,
one vote : And loi every ten shares above one him
tired, one vote : hut no person, co-partnership or
body politick, shail be entitled to a greater nuinner
llutn thirty votes, except in relation to the slot k
subscribed by the respective stales, in which case
the numbet of votes in the ratio aforesaid, shall be
limitted to one hundred. And after the first electi
on, no share or shares shall confer a right of sutliuge
which shall not have been bnld-n three calendar
months previous to the day ol electtua. Stockhol
ders actually resident within the United States, and
none other, may vote in elections by pioxy.
2. Not more than three lotnths of the directors
in office, chosen by the slonkHoldcrs, nor more
than thne tilths of those appointed by the commis
sioners ol the sinking fund, the president excepted,
shall he eligible or capable of appointment lor the
n xt succeeding year—Hut the director whosuallhe
presid-nr at the lime of an election, may always he
re-elec ted or re-appointed as the case may he.
3. None but a stockholder, being the owner of
live shares, end being a citizen of the United States
and resident therein, shall he capable of being cho
sen or appointed as a dirprtor.
4. No director shall he entitled to any emolu
ment, unless the same shall have treeii allowed by
toe stockholders at a general meeting. The stock
holders shall make such romp, nsatinn to the presi
tent tor his extraordinary attendance at the bank,
as shall appear to them reasonable.
5. No less than seven directors shall constitute
a board for the transaction of business, of whom
the president shall always he one, except in case of
sickness, or necessary absence ; in which case his
place may he supplied by any cither director, whom
he, hy writ ng under his name, shall nominate for
the purpose.
6. A number of stockholders, not less than sixty,
•ho, together shall be proprietors of two hundred
si.ares or upwards, shall have power at any lime to
call a general meeting of the stockholders, for pur
poses relative to the institution, giving at least ten
w-eks notice, 111 t wo puhlirk Gazettes of the place
where the hank is kept, and specifying, in such no
ticc, the object or objects of such meeting.
7. l .vf-ry rasliiei or treasurer, before he enters
upon the duties of his office, shall be lequired
to give bond, with two or more sureties, to
the satisfaction of the directors, in a sum not lest
than fifty thousand dollars, with condition for his
g nid behavior.
8. The lands, tenemmts,& hereditaments which it
shall be lawful for lit- said Corporation to hold, shiill
be only such as shall be requisite lor its immediate
accommodation in relation to the convenient trans
action of business, and such as shall have been bona
fide mortgaged to it by way of security, or convey
ed to to it in satisfaction of debts previously con
tracted in the course of its dealings, or purchased at
sales upon judgments which shall have been obtain
ed for such debts.
9. The total amount of the debts, which, the said
corporation shall at any time owe, whether by bond,
bill, note, nr other contract, shall not exceed the
sum of twenty millions of dollars. Over and above
the mouies then actually deposited in the batik for
safe keeping, unless the contracting any greater
debt sb.dl have been previously authorised by a law
of the Uuited States. In case ofexress, the direc
tors, under whose administration it shall happen,
shall be liable for the same, iu their natural and pri
vate capacities, and an action of debt may in such
rase be brought against them, their or any of their
heirs, executors or administrators, in any court of
record of tbf United States, or either of them, hy a
ny creditor or creditors of the said corporation, and
[ may be prosecuted to judgment and execution ; any
I condition, covenant or agreement, to the contrary
notwithstanding. Bat this shall not be construed to
exempt the said corporation, or the lands, tene
ments, goods or chattels of the tame, front being al
so liable for and chargeable with the said excess.
Such of the said directors, who may have been ab
sent when the laid excess was contracted nr created
nr who may have diasmtvd from the resolution or
act, whereby thy same was to caut reeled or created,
may respectively exonerate themselves from being
sotfclhle, by fortbaeith giving notice of the feet, and
of their absence or dissent, to the President of the
1)d|L|4 Statefn aa4to lb# ilockkoUiri it a meiil
Hwb choice tad appointment anlil the end or expir
ration of the MonO«} m January next ensuing the
time of making tbc Wiw, nsut shall forthwith
thereafter commence the operations of the skid bank
,4f tic i»|d city oif Philadelphia: PmsidedyThai in
raw ft should at any Homs happen, that an tler lion
or appointment of directors should not be made, up
on any day Wbfn puisnant to tint act it ought to
have been made, the said corporation shall not for
tbat cause be deemed to be dissolved ; tat it shall
be lawful on any other day to hold or make an elec
tion or appointment of directors in stub manner us
shall have been regulated by the l*ws and ordinan
ces of the said corporation* not inconsistent with
this act: And provided further, That in rase oftr
dealh, res ^nation, absence fnnn the Unit o States,
or the removal of a director by the stockholders of
one of those chosen t>v them, or of the death, re
signution, absence from the Ui.ii'eiiSt.it s, >r the
removal of a director by a majority of the t, minis
sioners of the sinking fund of one of those .li
ed by them, bis place may be filled up by a n w
choii p or appointment (as the rase may be) lor Ur
remainder ol the year,
Ser. 6'. And he it further evicted, That the di
rectors for the time bung shall Inve power to ap
point such officers, clerks, and servants, under
them, as shall be necessary lor executing the busi
ness of the said corporatiou, and to allow them
such, compensation, for their services respectively,
as ahc.ll be reasonable : and shall he capable of ex
ercising soeii other powers and authomns, for the
well auvernin; and ordering of the atiairs o' the
said corporation, as shall he described, fixed and
determined hv the laws, regulations ana ordinan
meeting, which UteyOwH Waye'powtr to «U for
n»l purpose. •* - .
10. The said corporation shall hot bent liberty to
purchase any public debt whatsoever, nor shall di
rectly or indirectly deal or trade in any thing, ex
ce|)t bills of exchange, gold nr silver bullion, or in
the sale of 'goods realty and truly pledged for money
lent and m>i r< deemalie in doe time ; or of goods
which shall, be the produce nf its lands. Nei
ther shall the said rorporntion take more than six
per centum per annum, for or open loans or dis
counts.
11. No loan shall be made by the said corporati
''ti, toi the use or on arcounl of the government of
tile United Stales, to an amount exceeding one hun
dred thousand dollars, or of any particular state to
n amount ext eedtng fifty thousand d»II,.rg, or of
any foreign prinreor slate, unless previously authe
r si'd by a l.*\v nf the United States.
12. the stork of the said corporation shall be as
signable and transferable according to socb rules as
shall be instituted in that behalf, by the laws and
‘•rdinaar es of the same ; except the stork subscrib
ed Ly the several staus, tvbicb shall uol be assigna
ble or transferable either in law or equity.
13. The bills obligatory and of credit, under the
seal id the said corporation, which shall be made to
any person or persons, shall be assignable by en
dorsement thereupon, under the hand or hands of
such person or persons, and of his, her or their as
signee or assignees, and so as absolutely to trans
| !er and vest the property in each and every assignee
j or assignors successively, and to enable such as
signee or assignees to bring and maintain an action
thereupon, in bis, her or their own tmme '*r names.
And bills or notes, which may be issued by order
of the corporation, signed by the president and
countersigned by the pnnripu! cashier or treasurer
thereof, promising the payment of money to any
person or persons, his, her, or their order, or to
beurer, though not under the seal of the said cor
poration, shall he binding and obligatory upon the
same, in the like manner, and with the like force
and effect, as upon any private person or persons,
it issued by him or them, in his, her or their pri
vate or natural rapacity nr capacities ; and shall he
assignable and negotiable, in like manner, as it they
were so issued by such private person or persons :
1 hat is to say, those which shall lie payable to any
person or persons, bis, her or their order ; shall
be assignable by tndorsem-nt, in like manner, and
with tiie like effect, as toreign bills ol exchange
now are : And those which are payable to bearer
shall lie negotiable and assignable ! v delivery only.
14. Hall yearly dividends shall be made of so
rnneh ol the profits of the bank, as shall appear to
the directors advisable; and once in every three
years, the directors shall lay before tbe stockhold
ers, at a general meeting, for their information, an
exart and particular statement of the debts, which
shall have remained unpaid after the expiration of
the origins! credit, for a period of treble the term
of that credit; and of the sui plus of profit, if anv,
after deducting losses and dividends. It time shall
be a failure in the payment of any part of any sum,
subscribed by any person, cop irtnership or body
politick, except in case of the states who shall be
respectively entitled to a dividend proportioned to
tbe payment actually ruade bv them, tbe party fail
ing shall lose the benefit of any dividend winch may
have accrued, prior to the time of m king such
payment, or which may accrue while there he a de
fault in payment ol any part of the subscription mo
ney which is payable.
15. it shall be lawful for the directors afoiesaid
to establish offices wheresoever they shall think
lit within the United States, or the territories there
of, fir the purpose of discount and deposit only,
and upon the same terms, tmd in the same manner,
as shall he practised at the bank, and to commit
the management of the said orifices and the making
the said discounts to such persons under sorb agree
ment and subject to such regulations as they shall
deem proper ; not being contrary to law or the con
stitution of the hank. And it shall be the duty of
the said director's, to establish su"h offices of dis
count and deposit in each oi ih'* stairs respectively,
the legislature whereof m.cy require ti e same to be
done. And the legislatuies ol the states respective
ly shall have a right to require of the said directors
the establishment of an office aloresaid within the
state, atsucb place as the directors may fix, with
a capital not exceeding for the states respectively,
the sum hereafter limited ; that is to s«y, for the
state of New Hampshire, two hundred thousand
dollars ; for the state of Massachusetts, seven hon
dred thousand dolluis ; for the state of Cniinertirutt, i
two hundred and ninety thousand dollars ; for the
State of Rhode Island, two hundred thousand dol
lars ; for the state of Vermont, one hundred and fif
ly thousand dollars; for the state of New York,
seven hundred thousand dollars ; for the state of
New Jersey, two hundred and fifty thous• d dol
lars; for the state of Delaware, one hundred thou
sand dollars ; for the state of Maryland, live
hundred thousand dollars ; for the state of Virgi
nia, eight hundred thousand dollars ; for the. state
of North Carolina, live hundred thousand dollars ;
for the state of South Carolina, four hundred thou
sand dollars ; for the stale ot Georgia, two hundred
thousand dollars; for the state of Kentucky, two
hundred and fifty thousand dollars ; for the state ot
Tennessee, oue hundred and fifty thousand dollars ;
and for the stale ol Ohio, two hundred thousand
dollars.
16. The oflirer at the head of the treasury de
partment of the United Stales, shall be furnished
from lime to time as often as he may require, not
exeeeding once a week, with statements of the a
mount of the capital stock of the said corporation, j
and of tbe debts due to the same ; of the monies
deposited therein ; of the notes in circulation, and
of cash in hand; aud shall have a right to inspect
such general accounts in the books of the hank, as
shall relate to the said statements : Provided, That
this shall not be construed to imply a right of in
specting the account of any individual or individu
als wiib tbe hank.
Sec.. 8. And be it further enacted, That if the
said corporation or any person or persons for or to
the use of tbe same, shall deal or trade in buying
or selling any goods, wares, merchandize, or rooi
wodtUes, whatsoever,contrary to the provisions of
this act*all and every person aiyj persons, by whom i
toy order «r direction for so dealing nr trading shell j
have bsco,given, and all and awry person or per-j
sons who shall have been concerned as parties or!
•gents thereto, shall forfeit and lose treble tbe va-1
hie of the goods, wares, merchandize and com mo-:
ditie* ii which sack dtaiiag and unde shall have j
br#o, u>e inform^
nd the other half thereof to the use |rf the Unit**
Slate#, top* recovered wifb costae* .strive
5ec. 9. And be it further enacted, that if the
sttld Cur point too shall advance and lend any sum,
for the use or on uccoot* of the government of the
United States, to an amount exceeding one hundred
thousand dollars ; or ofany particular state to as
amount exceeding fifty thousand dollars { or of any
foreign ptince ur state,(unless previously authorised,
thereto by a law of the United States (all and every
person and persons, by and with whose order, agree*
ment, consent, approbation or connivance, auch
unlawful advance or loan shall have been made, up
on conviction thereof, shall forfeit and pay; lor e
vcry such offence, treble the value or amount of the
sum or sums which shall have been so unlawfully
advanced or lent i one fifth thereof to ti e use of tba
United States ; to be disposed of by law and not o*
therwise.
oer. id. stria ne rrjvrtner enactea, lbat to* lulls
or notes of the said corporation, otiginally niady
payable, 01 which shall have become payable on de
mand, in gold and silver coin, shall be receivable ia
all payments to the United States.
Sec. 1J. And be it further enacted. That it shall
be lawful for the president of the United Stales, at
any time or times, within two years from the time
ot the passing of this act, to cause a subscription
to be made to the stock of the said corporation, as
part of the aforesaid capital stock of twenty milli
ons of dollars, on behalf of the United States, to
an amount not exceeding four millions of dollars,
to be paid out of the monies in the treasury not
otherwise appropriated, or which may be borrowed
by virtue of this act ; and it shall be lawful for the
president to borrow lroin the said bank for the pur*
pe.se aforesaid a sum or sums not exceeding in
the whole lour millions of dollars, which the said
hank is hereby authorised to lend, reimborseahle in
ten years, by tquul anpual instalments, or at any
time sooner, or in any greater proportion that tho
government may think fit.
tec. 12. And be it further enacted, That it shall
be lawful for the legislatures of the states at-any
time or times within three to cause a sub
scription to be made to the stork of the said compu
tation, as part of the aforesaid capital stock of.
twenty millions of dollars, on behalf Of the states
to en amount not exceeding six millions of dollars,
to be appropriated among the stales respectively as
follows, that is to say :
The state of New Hampshire, five hundred and
twenty shares; the state of Massachusetts, sevea
hundred and seventy shares ; the state of Connecti
cut seven hundred and thirty shares; the state oi
Rfode Island, two hundred and leu shares ; tha.
s:ale of Vermont, four hundred and sixteen shares;
the state of New-York, seventeen hundred and se
venty shares; the state of New Jersey, six hundred
and twenty-five shares ; the state ol Pennsyvanta,
eighteen hundred and seventy five shares; tha
the state oi Delaware, two hundred and ten shares^
the slate of Maryland, nine hundred shares: tha
state of Virginia, two thousand shares; the stale
ol North Carolina, twelve hundred and filty shares;
the slate oi South Carolina, eight hundred and
thirty-three shares ; the state of Georgia, four hun
dred and fifty-three shares; the state of Kentucky,
six hundred and twenty-five shares; the state of
Tennessee, four hundred and fifty three shotes; tha
slate ol Ohio, three hundred and sixty shares;
which said subscription may, as the legislatures of
the states shall judge proper, be paid in any equal
annual instalments within ten years; the first in
stalment to lie paid at the time of subscribing, and
the subsequent instalments at a distance of tuna
not greater than one year fr..m each other succes
sively ; Provided, That if any state shall decline or
neglect subscribing within the period herein limited,
or neglect to pay the whole amount of its subscrip
tions within ten years from the lime of subscribing,
in such case itsbull be lawful lor the United Slate*
to dispose of or make any regulations they may
judge proper inresp ct to any shares not subscribed,
or any instalment remaining unpaid.
Sec. 13. And be it further enacted. That tha
hank herein provided for, shall take effect and ha
established on the fourth day of March next; and
th*t no oth-r bank shall be established by any fu
ture law ol the United Stales, during the continu
ance of the corporation hereby crested; for which
the faith of the United States ts hereby pledged.
Just Landing from on board the S/oops Laura and
Ably Ann, from New-York,
10 chests Hyson 1 TEAS,
20 do. Hyson Skin Co/ the latest imperial^.
10 do. Yount; Hyson j one,
40 hogsheads Muscovada 7 CITr, . D
10 do. Loaf jbUGAK,
100 boxes Mould Candies,
4000 pieces Nankeens,
2 bales Muslins,
4 boxes Glass Tumblers, &c.
9 pipes Country Gin, superior quality,
5 casks Hoes.
And in Store,
Imperial and G anpowdcr TEA&
400 boxes Soap,
8 pipes London particular Tenerife Wine.
For Sale by
William Hull, Jun.
No. 8, Wide VVatei^Stree*
March 26. 4
CADIZ SALT. **
IN STORE,
9000 'bushels excellent Cadiz SALT,
which will be sold low and on a liberal credit.—}
Apply to
Robert Maitland.
March 28. 3w
FRESH TEAS.
Just landed from the Packet Ruing States, Captain
Gilbert, from New-York,
10 half cheats Young Hyson,
10 half clwsts Hvson, f (imported lea. S*^
20 small boxes Hyson, f 1810.
S chest* Gunpowder, J
Mackinder SC White.
Who have for Salt tn Store.
45 hhds. prime Petersburg Tobacco*
26 bales Virginia Cottue,
30 boxes Raising. #
L: ?*“*&■>* *