Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1808-06-24

till pthSi .SttlCNIS SAdti ttsO tfkC Il similar
oath or affirmation; and the said president
and directors, as well as the clerk, book
keepers and olher officers, shall, besides,
give bonds with security: that is 20 say, the
president and each director in such sun as
shall be directed by general meeting of
the stockholders; and the clerks, book
keepers and other officers in such sums as
shall be 81 sfactory TO the president and
directors, for ;lie faithful discharge of their
DATES, in their respective stations.
ARTICLE z.
| The original subscribers to this associa-
ton and the assignees, transferees and legal
representatives OF all such original subscri
bers forever, shall be taken and deemed to
all intents and purposes to be members of
the company, and shall be entitledto all the
rights, benefits and advantages 10 arse m
any manner iherefrom, or from the proper
| ~, works and capital ock thereof, in pro-
| portion to the amount of their stock and in
terests respectively; provided that no.
transfer or assignment of the capital stock
shall be valid but in entire share or shares,
and be made on the books of>the company
and in such manner as the president and
directors shall appoint; and every person
or persons having So transferred or assign
led the whole of his, her or their interest
and stock in the said company, Shall there
l
the said company, to all intenrs and purpo.
ses
ARTICLE II
! The president and directors so soon as
the progress of the works and the state of
the funds viii permit, shall make, declare
and pay TO the stockholders, or their legal
representatives, yearly dividends on the
stock of the company, reserving, however,
| ont OF the income Of the company's proper
ty, such sum annually, as they shall judge
! necessary or prudent, for repairs improve
ments and contingencies and for such fur
ther augmentations as shalt BE directed by
general meeting
ARTICLE XII.
| The president and directors are hereby
Il requireu and fully empowered 90 draft and
present petition in the name and on be-
hall OF shis company, TO the leg stature of
the state o. Virginia, praying that an act
may pass to lncorpora this company con-
formally 10 these articles of association.
ARTICLE XIII.
It's hereby declared expressly, and made
part of this association, that all persons who
deal or contract with the said company, or
with the presden and directors thereof on
IT'S account, in any manner whatsoever, do
so deal and contract on the sole credit of
lthe capital stock, common property and
JOINT funds of the said company, and not on
, {the private or individual credit of the said
! president and directors, or any of them, or
oi the stockholders or any of them, and do
expressly relinquish and dsclaim all right
aud pretence Of right to look TO or receive
any thing from, the individual property or
persons Of the said president, directors, or
stockholders, or any of them by reason, or
an account of any such contract to VIII CHI
effect there shall be clause inserted in all
contracts, writings, or obligations to be
: made by the president and directors IN pur-
suAnee' OF these articles, with any person or
: lpersons whomsOever--lnless an act of in
| corporation snail be obtained.
ARTICLE XIV.
, And in case any person or persons, or bo-
: dy or bodies corporate, should wish TO com
) mence any action or suit at law or in equi-
= ty, agains the said president and directors,
/ or either, or any of them, on account of any
act, matter or thing done by the SAID pre- :.
: sdent or directors in pursuance Of the pow
er to them hereby given the SAID president
: shalt De and IS hereby authorised torece We,
S accept and ackro ledge service Of process
(; IN every such suit or action; and 20 cause
: all pr oper and needlul de ence to be made
= therein, at the cost oil the COMPANY or "a
: submit the matter so in spute 70 arbtra-
3 ton, IN such manner as he Shall thiuk pro-
per; and 20 pay and d scharge out of the
JOINT tu ds thereof, all and every sum or
r SONS of money, that may be adjudged. detin-
( cd or awarded in any such action, suit or
S controye rsy, to be paid by the said pre,,-
B, deDt and directors and in every respect 70
= perform, conform 20, and fulfil every such
!, Judgement, decree and award, as Can be
done by means of the capital stock, Joint
: funds, and common property of the said
company!
d ARTICLE XIV.
j. This association shall continue for TWEEN
c ~ years from the day on which the first
+ general meeting shall be held-but the Pro.
= prictors of two thirds of the Capital Stock
# OF the Company, may, by their concurring
: votes In that ratio, at general meetifg tC
be called for that express purpose, dissolve
he same atanyprior period, provided thai
y notice Of such meeting and its objects shall
= be published in four newspapers Or there
o be so many or more, in the Civ OF Rich.
y mond--and in some newspaper Of there b,
ono printed at each pace respectively
Il where Books have been directed 20 be o.
lpened or by Handbills posted up at sucf
, lpiaces, for at least six months previous e
5, The time Of such meeting.
L. ARTICLE wv.
u Immediately on the Dissolution of Chi
d Association, effec,ual measures shall be Ia
ken by the President and Directors then