The enquirer. [volume] (Richmond, Va.) 1804-1815, 1804-10-24

for afkine you ifa cllim 70 izds-5ro.t. nav rib
ehiona and iotaandtA, was ever hc.t,rs made I'M
Der law, the nearing OF which was 70 Cbyi.
GUS Ignorant O! The pertc-, whotc vain ii,gc-
nuity hrit iIgseiieo, aa>i t!0fe who ilippo-feSr
this itep at ufnrpaticn, Cannot l;e f;fpcGea of
other motives thai: jlch - TIE .xsfcr %. tie cafa
and the law warrant. in Tie i,sc.,iga,.or &c
tins fublett u NAY not he iDprol,S, to ore iaiiy
+. that the etabli!hp,ert uf ibis B,;k is foync,t,
OF taie,'s iaSv 2ftlr Virginia leeiQar,rs. wb,ea
attic II allows of bye laws ard REGULATIONS Cor
inc well ordering the afTaii OF tie bark, ]: IKE
wie torbids nns nytJingeArra! of THE Ia4v of TIE
LHate from which it follows, that the. Stock ,ol.
GERS, Directors, and all the Officers united. are
not competent, by any regulation, compronlifc.
or eitahh!ilHent, 10 RE hcs5q picic,ion oe ire
Charter which incorporates chem P.sdipr the
law we find, fec. S. that II Directors, with me
I11afnrcr, are cho:e;,, for swell ordering The
ab"'rsot this corporation" and TINT Directors
Tor tie Branches are to be clcfcn in .i. nls-,.
nsr with thoi;. at Richmond who, a; their Grf
meeting fIbicouent 10 tire eicttsp are 70 flea
D., a Preiidsnt from their own body.-Then f,,-
lows proogo, declaring that the fra election
o., mai! bc regulated as Ter directed ia the. Int
i. terpa't oFiec. g. tie exception above sluds,ito
IS wh,-iy provided for, as is evident from tge
I. h'hk commencing ITS operation u,uch earlier
'nah would have hrerthe cafe, had they waited
the general election. bnt fortunately. for our
1gGy- DIRECTORS, tier cf;ces lrd fnec.i ,.u-
'i:s c!oie with fiction. The cir,-.nnasrces
twhich rendered an exception in tt.gir favor nc
longer exiting, their excl:fiye digrites live rot
beyond the Iiris day Of January 1905 OF ra.her
iuch as exit IN favor Cf the Richmond Dirs,9-
ors are io mputely dtlineaiet As not TO admit az
uonot. However mortif.ipg it may be taus
ifuddeny to be deprived OF the power aud pride
OF Office, yet the law has 60 pronounced IL: yo,
mutt 1uornit: and a. this new ara of things.
permit me to hope, that idle a:sIyios ..Y;n eeris
TO trouble. s''.''
Before proceed further with IRE l.vv. i NAV
De wen to remark, that in al GETS s,isrs bv the
aet duties are impoied OF pr;vilc,fses given to
tne Richmond Directors fuhGquent to tire inIf
election, they are fprcialy deiignatssl as the D.,
Oiretfors, or the DIRECTORS nfs,eisid. or fore
dehr1pt,ve e%preiiion is adopted 10 diffi4ys;,h
them from the other Dire Gtors, ard in ali ~, -
where the term Directors is rci ,,ererally il ~,
IiudSs nor only thote Of tie Richmond PAM,
ont all who are rcqufte at the Branches rs x
this place. What contribution then Glail &c put
Oh the 1th lection which is" Aact be it far
ther enacted, That the directors Cor the si,nebc
'ne' man nave power to sppoipt 6,cR officers
CLERKS and irrvants under them, AS fall lIl
cenary for executing the bulineis Of the fsi,i cor
Pofation and to allow them fnch co.nret,fa-
tion FOR Their ttrvices ref2rctively, as a.an BE-
lrcatona5e; and ihal be capable Of cxerc;ine, al
Z l-etyf
ing the affairs ofthe fad corporation as ti,a;; h.
preier1oed by fbe L0zOS, Ordinances anJ Rep,la-
f,on5 Of the /aane." VIII any reafonahie man fa,,
that the exprefion D,etFovy for RE ti,a~ b.;,g
is united to the II Directors and Treafuryr
If fuch be the correct doctrine, then YOU are
pound "nder the estre.6 evord5 cr tb. lr1v, no;
onlv to choo1e the GATHER, but you are eqs.llv
tor the words G4cb officers as &aN be ree.aa,
,hciudes az 7Ubo are n:ca7a,y and it is equal
~ true, that you, and you alone mn q, ne .
Iariet at aIltbeoBFcerJ. The languaeeoftbe law
admits not OF doubt; it is ALTO Dc;ifve. aud
being 10, cannot DC contravened et er, by com
promfe.
If this be a correct view of the fubject, s that
IL Isl am bold to affirm, you are then placed IN
the dilemma of chofing eveyy c9s2t;ci oAzcsF f;g
ire SrH''fbes and fixing tier Salaries, Which,
would contradict fcveral decara.ory parts of
the law, or as is certainly proper, rehnoufh
your claims and be contented to well ord.r
the affairs OF the corporation, under fucb aerep
nehts, ana iubJet TO fueh regulations as ihalti,r
deemed proper; according TO the bye laws
wh'Gh meeting OF Stockholders may eltabl.h,
not beng Contrary to the law of the fate. That
che Claim is unfounded is evident that ii wooid
be un9olitIc could be eafy proven bat as
more time has been already flowed on fb;s
fubJect than was frif intended, fha ak 4 few
tqueitionS, leaving the foutions to every candi,t
mind
J.. If It is hereiIary that there fhould be ref.
Ponholiity from the Branch to the Mother Bank
land that 1t is admit), cannot the bve lave i'm
lpoteit as duty on the proper officers By At
tachlng forfeiture Of Office to delinquency?
2: Can any kind of Responsibility be coscciy-
ca FOR the well ordering of this corporation,
which the Bye laws cannot reach
3. Should the officers be chofen by the Rich
prehend?
I 4: Should the Directors give infruetions or
ceniure their officers, they not liable to CON-
tempt as being merely nominal dircI7ort?
8. Would 1t not be degrading to the Branch
Directors to have every difference with their
officers adjufted by reference to the Richmond
Directors
! A thoniand other views might be taken of
this iubect to prove the impolicy and indeiicaey
of the attempt. MRRChTCD