Berkeley and Jefferson intelligencer. [volume] (Martinsburg, Va.) 1802-1810, 1807-02-13

sSnail take place. aItcI SSu uoAaho Vn Sees'
share shall have been paid up; and ~ J,
is requisite that means shall be taken to
secure the regular paymentof after calls,
therefore, If any stockholder shall fail to
make regular payment Of any instalment
or cali after ten dollars on each share
shall have been paid, such stockholder's
money. Ia bank shall remain, free from
interest, and not entitled to dividend an.
I'll such instalment or call shall be made
good, and the dividend theresfter 20 be
paid to such stockholder, Gas well upon
the money regularly paid, as upon that
paid after dcfaul0 shall be calculated on
klyfrom the time when said instalmeht
shah Be made good. I: ~ ssIss
article 6. sNosnb scriber or stoekhol.
der, or member Of the said company,
shall be answerable in his person or indi-
vidual property for any contract or en-
gagement Of the said company, or for q.
ny losses, deficiencies OF failures Of the
capital stock Of the said company, but the
whole of the said capital stock, together
with all property, rights and credits. be-
longing to the said Institution, and no.
thing more, shall at all times be answer.
able for the demands against The said
COMPANY. ~ -. = = = =
Ar.cie7. The affairs Of the bank shall
be managed bv ten directors and a presi-
dent, seven Of whom. and the president,
shall reside in Washington county one
ia baltimore county, one in Frederick
county, and one in; Allegauy county |;
these directors shall be- chosen by the
stockholders in person or by proxy, in
Hagers! Town, on the FIRST Monday in
May, 1905, and on the first Monday in
May in every year thereafter; and when
the state acquires the right Of choosing a
director, the stockholders shall choose
one director less in Washington county |;
and until the election for directors, a. a.
foresaid, in order that this institution
may 60 into operation as soon a. convent
entity maybe, the affairs of the bank shall
BE conductedby Nathaniel Rochester, As
president and Ellie Williams, Thomas
Sprigg, William Fitzhush, Charles
Carroll, Jacob Zeller, Samuel Hughes,
jun. Williams Hsysen, Samuel C,agett,
(Baltlmore9 John M'Pherson. Frede-
rick. Town) and William M..Siahon,
{ Anegauy) as directors. who shall have
the power to appoint a eashierand such
other officers as they shall dsen, neeessa-
ry,- and shall act in an orherthings rela-
tive to this institutrou, as fully as the
president and directors. hereafter to be
appointed by the stockholders, shall be
authorised 10 do. except that the COM
Pensation 10 be allowed TO, the president
Of the bank shall be fixed and determined
BY the FIRST directors to be chosen by the
stockholders. o., - 4 !. :, ~ i.
Astieie Q. In choosing directors. the
stockholders shall be entitled ID vote as
follows; For one share, and not exceed
ing two, one vote for every two shares
above two, and not exceeding ten, one
vote !; for every four shares above ten,
and not exceeding thirty. one vote for
every ak shares above thirty, aud not
exeeeding sixty, one vote for every
eight shares above sixty, and not exceed.
ing one hundred. onevote and for eve.
~ ten shares above one hundred, one
vote butn Pesson or body polite shall
be entitled 20 = greater number than thir,
~ votes and all votes At elections FOR
directors shall:be BY ballot, delivered in
person or by proxy EsFS-S: i - a
II Ariicie9. No person shall be admitted
to take his seat as director, unless he
shall be ut the time n storkholder.: and If
he shall q. any time cease 70 be a stock
holder, he shall cease to be a director. -
Article 10. If the, president shall be
chosen hereafter out Of the number ofdi-
reetors, his place shalibe supplied BY the
directors from amongthe stockholders |;
if vacancy shall at any time happen a.
mong the directors, by death. srsigna-
ton or otherwise, the directors shall e
lect another 10 ill the vacancy fofsthe re-
mainder Of the year, from among the
sseockholderss and in, case Of sickness, or
"a II u