The enquirer. [volume] (Richmond, Va.) 1804-1815, 1804-08-08
ARTICLES OF ASSOCIATION
OF THE
Da,a1Es Of feototnac,
20 aN7rbon ~5 SrJFnts saR come, or in airy zyjs tor

70 ali 7p5on tJ SrgFrts saR come, in airy 7g:
BE IT KNOWN, And j. is hereby proclaimed, that
we the fubicrbers, aiociatng together have formed
company or limited partnerhip, and do mutually a.
gree with each other, and hereby bind ourfelves
condnd the bufines of the company under the
and file of" The PRECEDENT and Directors of the Bank
Potomac" and copformably to the rules and regu-
tons herein after fpecifed. Andby thele our fnda-
raental articles of aociaton, do covenant and
rec, with each other, shat we & all perions, who
riy time hereafter may traniad buGneis with faid
iompany fhaI DE bound and concluded
ARTICLE /. The copartnerihip lhall be, and con-
tinue for the term OF twenty years, from, and aft
ter the opening Of the Gubcription, unefs charter is
fooner Obtained; but the Pr6pretors of two thirds of
the CAPITAL Stock of the Company, may by their
curing votes at general meeting, be called, for
that express purpote diholve the fame any prior
period PySV!4t&, That notice of iuch meeting and
its object, ihal be pubhed in one or more of the A
lexandria newspapers for fix months previous thereto
and the PRECEDENT and Directors their fri meeting
after the election III the lat year Of the aforeiad term
or two thirds OF that body ihal concur in the opinion
that 1t will be proper and expedent continue the CO.
partnerihip for further limited term not exceeding
twenty years, they fha have power TO decide on
the fame, and ha immediately make known their de-
ciou by publication IN the ievera Alexandria newt
papers. Audthe Prefdent and Directors are hereby
III IOe apply lot, ana accept tuch
charter may he agreed upon with the concurrence
Of nine members Of that body.
Art ?. The capital flock OF the company fnall con-
FIJI of Five Hundred Thouiand Dollars, money of the
United States; to be divided into flares of One Hun
Jred Dollars each, and to be paid in the manner fol-
lowing, that is to fay twenty dollars each fhare
to be paid The time OF ubicrbng, thirty dollars in
ninety days after the opening of the fbcrption TWEEN
~ five dollars in hundred and fifty days thereafter
and the remaining twenty five dollars in hundred
and ten days; and failure to make puncfually any
payment after the FRI, nall incur forfeiture of all
that fhall have beeh previouly paid on fuch ihare
Art. 3. The coDartnerhip ihal trauaGt its buiines
iii tie townof Alexandria, in Virginia. within one
mile thereirom, Pyogid4 charter lhould at any time
&c obtained from the State Of Virginia and ihall
commence its operations as oon after the payment of
the fecond ntlLncnt ascircumlances viii permit
Art. L. The f5fcription hall be opened in Alexan-
dra, on Wednesday the fifth day Of September next,
for the whole Rock of the company, under the di-
receion of
Eliza Jaaney, CufLbert PozveY
W/ihiam Fif%LRg6, WHiam Harf/5orRe,
Tb9mas SqcaHa, TBo1as To7peH
CbsrLss Lee, Taeob H1fnan,
J9itbb Ridde, fa1gs5 H. Ha9e,
WiIfo~ HodgsoH, RoLeyt lTonag,
PLi0aa' J1oay, James Keith, Jun.
ffzues Pattou, . ....
or majority OF them. And the commilioners aGore-
fad. ihail open the ubfripon books at ten O'Clock
A NJ and they hall continue open until four o'clock,
p. M. and iha remain open between thoe hours for
day Leaf and for the term of three-davs 1ilefs
fooner filed And iii fhould happen that more than
the ipuated number Of flares lhoud be fubcrbed on
the rit day then the Commiioners aforeGl;d are to
apPortiou them among the fublcribers, BIZ deducting
from the hghe iubicriptiocs, until they reduced
to the proper number if more perfons ibcrbe than
thcre gares, the commioners to cat lots TO
decide to whom they hal belong. But no perfon or
Perions bodies corporate otherw, ihall be permit
ted to tubcribe the irt day OF opening the books,
for more than twenty flares and it the Rccis be
not ali taken the fr1 day, the books ihal remain open
or the iecofd day, the fame terms as OH the 6r
bu il the ubfcriptOn be filled on the lecond day.
then the Comm',oners may permit any peron or per-
Ions bodies corporate oberwiie to iubfcribe for
any number Of fhares until the Whole number is COM
Plete. The ComnuRioners after having decided TO
whom the hares may belong, viii ue receipts 20 the
different Stockholders for the monies received them
q the time OF ubicrbing which receipts with tie ORR
graz inb!crpon, ihIil be deemed good evidence of
the quantity ofaock which each luberiber fhal be
entitled IN this company
AZ. s. TIE affairs Of the company hal be conducted
by twelve Directors. and a PrcGdcnt .yhor. place Il
cnoieU from ancn, ther number, hall he ruppl;ed by
That bocy ard Il, Of the dircdors with The prefdeni
tali form hoard quorum for traufaGing all the
!linets Of the company; ordinary dir ounss may be
ne by he TrsfiJent, and any FIVE ii the Directors
caIe 81 his iiclu.is ntoc!ary abtence his place
y be ltppIied by any Director whom be- Sy Wri-
th 9 under his hand ray nominate Tor that puroele
on " cafe Of lbs not making iuch nomination, the ma
~ y d 'e board may appoint PRECEDENT 20 a6l de-
TN MS sbierce; Ipd the Direc,or, who may he ap-
20 ted e the iiro e,e6ion lha hold their oats WI
u re iecond Monday il November one .houfsud
20 hundred and I'VE, ard The DIRECTOR fro-r and
su thai period mall De eledsd for orc ...r bv the
tholoef3 for the time bling. ard e.cr Direslor
Ha be 5tocs 3de- ~ de time Of election, ard nail
'sa to he Director, II Ire fouid cegsc to b.
o.khoder, and no DircE,or Of any other
tnai At the fame time be a Director Of ihi. Bank
Hm the number Of votes to whcS each StoclhoIder
be entitled ihali be in proportion TO the nock
'e' ny hold, as follows: For one are AID not eA-