The enquirer. [volume] (Richmond, Va.) 1804-1815, 1804-08-22
ARTICLES OF ASSOCIATION
OF THE
pank Of Dotornat.

TO all 7c5or7 b5 prslnts Pail eos7e, in any rOs
BETT KNOWN, And it is hereby proclaimed, that
the ubfcribers, aIociatng together have formed
company OF limited partnerihip, and do mutually a.
gree with each ether and hereby Find ourlelves to
conduct the bufneis of the company under the name
and file ofs The PRECEDENT and Directors of the Bank
of Potomac, and conformably the rules and regu-
laons herein after fPeched Aud by thee our funda-
mental articles of aiociation, 80 and
gree, with each other that We perfons, who
ny time hereafter, may ranfact bufnels with faid
company ihall he bound and concluded.
Ar rIcLE /. The cooartnerlhip ihal be, and con-
tinue for the term Of twenty years. from, and at
the opening Of the fubicrption unlels charter Is
fooner obtaned but the propretors Of two thirds of
the Capital Stock of the Company, may by their con-
curing general meeting, to be called, for
that exPreis purpofe, dilove the fame at any prior
period ProoiIr1 That notice Of luch meeting aud
its Object, fla be publhed in one or more of the a
!exandria newspapers for fix months previous thereto
and If the Preient and Directors at their Tt meeting
after the election in the a year of the aor ead term
thirds of thai body hal concur in the opinion
that viii be proper ard expedent continue the CO.
plrtnerihip for i further limited term not exceeding
twenty years, they all have power to decide on
the fame, and hall Immediately make known their de-
ciiion by publication nthe feveral Alexandria newt
papers. Andthe Preiident and Directors are hereby
authorized At any time apply for, and accept fuch
charter may ne agreed upon with the concurrence
OF nine members of thatbody
Art 9. The capital flock of the company llal con-
Gtt of Five Hundred Thouiand Dollars money of the
United States be divided into flares of One Hun
dred Dollars eac and to be paid in the manner fol-
loving, that is fay twenty dollars each fhare
TO be paid the time of fbcrbing thirty dollars in
ninety days after the opening OF the fubfcrpon twe-
t i've dollars in one hundred and tfty days thereafter
and the remaining twenty five dollars in two hundred
and ten days aud failure to make pun9ualy any
payment after the ir, iall incur forfeiture of all
that thali have been previouly paid on fuck hare.
Art 8. The coplrtnerihp ilia traniatt its bufneis
IN the townof Alexandria, in Virginia. within one
mile hereirom, Pro9i2d, charter fould at any time
be obtained from the State OF Virginia and fhai
commence It's operations (oon after the payment of
the econd inltalnent as circumstances Will permit
Art. T. The iubcription flalI be opened in Alexan-
dria, on Wednefdly the fifth day Of September next
for the whole flock Of the company, under the di-
reGlion of
EljGa 5anncy Cpt5bsr. PozgeH,
william fIfa5pgb, HCiia17 HaytGo,ae
TbomdS SzUanE, Thomas Yo4peX
CbarLef Lee, Tneob Ra6Jnaa
feG8b Rid4ie, sfaoget III Ho2,.
WMLiqm Hodg5n,, Robert ToDag,
t,6'7eaf JHaa.y' fa,1ss Keiib, fUn'
innef Pgf!0u, ....
majority of them And the conlnlifioners afore-
iad iha open the Inscription books at ten O'Clock
a M. and they ihail continue open until four O'clock
r. M and ihall remain open between thofe hours for
one day at ea and for the of three-days unlel
fooner filled And if it fhould happen that more than
the itpulaed number of flares ioud be flbfcrbed on
the rit day, then the Commiioners aforeiad are to
apporton them among the fubicribers, by deductins
from the hgheit fubcriptions, until they are reduced
TO tile proper NUMBER if more perlons fubicrbe than
there are flares, the commiloners are to ca lots TO
IN yVh thpy H,all heIc
perfons bodies corporate otherwfe fall be permit
ted to iubicribe the fr day OF opening the books
tor more than twenty flares; and if the fock be
ali taken the firt day, the books fa remain open
on the iecond day. the fame terms as on the frt
but 1t the ubicrption be filled on the fecond day.
then the Comiiioners may permit any perfon orper-
IONS, bodies corporate otberwe TO fubfcribe for
any number of flares until the whole number Ss
Piete The Cou1miiloners after having decided to
whom the flares may belong, will ilIe receipts To the
different Stockholders for the monies received ofheu
az the time of fubfcrbng which receipts with the ORR
gnal inbicrption, fhall be deemed good evidence of
the quantity Of flock to which each fbcrber hal be
entitled III this company.
Art s. The affairs of the company fh1ll be conducted
by twelve Directors, and PrcGdent whole place if
choe1 from among their number hall be fupplied bv
that body and fix Of the directors with the prefdept
HALL form board or quorum, for tranlactng ali the
buiineiS Of the company; ordinary dcounts may be
done by the Prcdent, ana any five of the Directors
In cafe OF his fcknes neceiIary abfence his place
may be iuPpied by any Director, whom he, by Wri-
ting under his hand may nominate for that purpofe
or IN cafe Of his not making fuch nominations the ma
Jorty OF the board may appoint Predent to acl du-
ring his abfence and the Directors who may be ap-
pointed at the fra election a hold their ieats IN
I'll the iecond Monday in November, one thoufand
eight hundred and five, and the Directors from and
after that period ha be elected for one year, by the
Stockholders for the time being, and each Director
hAll be Stakeholder at the time Of election and al
ceaie to be Director, if he fhould ceafe to be
Stakeholder, and no Director of any Other
Bank ihal at the fame time be Director of this Bank
And the number of votes to which each Stockholder
ihal be entitled lhal be in proportion to the tock
ne may hold, follows: For one flare and not ex
csedng two flares EACH for every two ares
above two and not exceeding ten, one vote for eve
~ iour hares above ten and not exceeding thirty one