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


This association shall take effect I'D be
binding on the parties as soon as seventy
live thousand collars shall be subscribed
lf0r--the commissioners at Richmond ha-
lvng ascertaned this fact, shall call Il
meeting of the subscribers TO be held in
the capitol at some early and convenient
day, giving due notice thereof in the pub
lie prints or Otherwise.
That majority Of subscribers being
present or of shares being duly represented
iby proxy appointed under hand and seal
and attested by one witness at the least,
shall constitute peeting-but fifty shares
being present as aforesaid. may adjourn
from day to day for ten DAYS to obtain
meeting OF the company, to wit: majo-
rity OF the Subscribers or of shares renre-
seated as aforesaid.
That general meeting thus convened,
shall have power 30 make such rules and
regulations tor the direction and govern
ment OF the President and Directors, as to
them shall seem proper, and to alter or
amend the sans at their pleasure.
A general meeting of the stockholders,
for the porpose aforesaid shall be held an
nually on the second Monday in January,
at such place i'll or near the city of Rich
mnnd as the President and Direc ors for
gene raj meeting, and at every annual gene
raj meeting so be held thereafter as afore-
said. there shall be chosen by the stock
holders, by ballot, president and as many
Directors as they may deem necessary, TO
serve until successors to them be chosen
and duly qualified.
Each general meeting may continue by
'dionrnment until the business be gone thro'
the books, accounts, contracts, materials,
machinery AMI all the property of the COM
1any, shall be subject to the inspection
and examination of the stockholders, or a
committee appointed by them at any pc
neral or called meeting.
ARTICLE II.
The number o votes to which stock
holder shall be entitled, shall be IS fol
lows: VIZ For every share not eXcee ding
ten shares. one vote: and for every three
shares more than ten, one vo ;-no share
or shares, shall confer right of suffrage,
which shall not have been held four cai-n-
dar months previous to the day Of election.
except at the first election None bur
stockholders being citizens of the United
States and residing within the city of
Rchmond, or the immediate vicinity
thereof shall be eligible as President or
Directors.
l.
In case of she necessary absence. death.
resignation, removal from the state. or by
any other means, The president shall be
unable 10 act, the director standing first
IN order shall act as president and the
remaining directors may appoint from
among the stockholders resident as afore-
SAID, another director; and in case of a
vacancy In their own body from any of the
foregoing causes, the remaining directors
may al IN such vacancy, till the next cleo
ton in course.
ARTICLE VIII
The president and directors and their sue.
cessors, or a majority of them, under the
rules and regulations which are or NAV be
entered into by general meeting, shall
have power,
To purchase and hold i'm fee simple
or otherwise, lands and real esta:es suita-
bic TOR the erection of The necessary work.
and for the accomplishments their under.
taking, as they shall judge necessary ant
proper
=. 10 prepare or procure, adopt and ex.
ecute, such plan orphans as they shall thinl
most advantageous and effectual Tor esta.
bhshing and carrying on the manufacture.
which are The objects of this association
commencing first with the carding and som
-'to 80 '-s'-'N'' CIV HO''t ~ luNdilS O4tue lat
{ est improved labor.savlng machines, to be-
put N mot ON 10y water: and 70 the dyine
and fuiling of cloths
{ ). TO make al bye-laws, rules and re
( guiauops, n conformity with such as are OF
ilnay be hXed by general mecling, or tb,
/ wei ordering and conducting he business
! OF the CO.. paay ; and such internalby laws
rules and regulations, 60 alter, change or an
nui ~ their pleasure subJect nevertheless
\ 10 the reyision and correction of the stock
holders "a geustal mee,ing, or at a call
ea meeting 10 NJ held for fhat purpose, b,
any hity or poge 81 OK old rs, PROVIDED
I there be present at such meeting S. khold
ers holding two thousand ia res IN "a,
! whole, or their proxies--and that lou
weeks no}ce be gwen IN at least TWO news
I papers printed 10 the cry OF K chmond O
such meeting; and Of the alteration or re
/ peal intended TO be proposed ,hereat.
I 10 appoint and remove at their plea
sure, al clerks, superintendants, agents o.
other oifcers appcuded by them for carry
ing on the business Of the said company: +
hH and pay cut O.. the fun S of the compan,
the compsn' tions OF ali such clerks, super
intenddsts. agents, otherofficers, artists an,
laDorcrs as may be SO employed.
S. 10 m Ike contracts for all the neces
isary rev materials, engines and machines
AVID 20 dispose Of the articles when manu-
+ taciured in such manner, AS to them shall
seem most beneficial TO the institution an
interest OF the company.