Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1808-05-31

Htruments OF writing shall be filed with The
clerk OF the said company, and by him be
safely Kept among the records and docu-
nents appertaining to his Office !; and as
soon us quorum Of the said company and
board OF directors shall be formed as afore
said, all the powers, authority, and duties
whatsoever by this aet vested in the said
BOARD OF commissioners, shall cease and de.
termne, and ihenceforward becom. vested
IN The directors, for the time being, Of the
SAID company, under such limitations and
restrictions, as the said company RAY ;hink
ut 10 prescribe. Aud the sad board of
commissioners shall account tn the said
company at the FIRST meeting of the same.
Tor all monies received BIZ them or their
gents, on account of such subscriptions.
and shall immediately pay over the same
to the treasurer of the said company, or
10 such other person or persons as the said
company may direct and appoint the said
company, nevertheless, to allow all lust
credits for monies actually and necessarily
expended by the said board of commissi.
oners' IN the execution of their said trust
and duties.
Sec. 4. ind be 10 further enacted, That
there shall be annually holden on the first
Monday IN January meeting Of the said
company, for the purpose of eleefne five
directors, clerk, and treasurer; and
the said Company, shall have power, at
any meeting legally called and constituted,
tn pursuance of this ACT, to dsplace any
OF their directors or officers, and TO supDly
oy new election or appointments, all va
cancies that may happen among the direc.
'ors, or officers of the company and the
'a'd company shall have power to pres.
cfihe and regulate the power and duties
81 The sald directors, and of all other off.
GERS OF the company and a majority of
ne sad directors may from time to tins.
elect one of their body as president, ano
may Professionally supply, by their own G..
ircsion, any vacancies that may hsppcn a.
mig any officers of The company an,
The persons so elected by the said dr.,
tars may continue III Office till the mex lie
gal meel'og ofthe com any and the dircc.
tors OF The said company, { be elected In
pursuance ct his a6i, shall, unless sooner
displaced by the said company, continue
inoftice unti the first Monday in J,nusr
aex; succeeding their eIeci On. and fro1,
$3.50 NNpN'a q CiSSktOu SHAH Dc
made by the said company.
Sec. S. IND be it further enacted, That
a meeting ottne sad company may at any
time be called by a majority of the direca.
oFs oil the company, for the time berg or
6y one third Of the members or the said
company, or by the proprie iors of one thifd
OF the shares actually subscpbed for. or
the legal representatives or successors of
such fDsmbers CT proprietors Pryvided
"oR0e0er' That no meeting OF the said com.
Panyi shall be legal or valid, unIess quo.
rum shall be formed, consisting IF the ma.
Jorily ot the members of ihe said comDa.
ny, or OF the prOprieto,s of al Ieas, two
thirds OF the number of shares ACTUALLY
subscribed for. their legal representatives
successors orpgoxies, nor unless the place
being within the town of Alexandria, J and
'he tine OF such meeting be previously adj.
'ertIsed tor three weeks successfully, in
)ne or more gazettes in the city of Wash.
ing'on. and Alexandria.
Sec. 6. Ind be tt further enacted, That
every director, CLERK, and treasurer before
he acts as such, shall take an oath or az.
iirmaIIon, for the due execution of his Of
| fics.
Sec. z. ind he IL further enacted, That
the said shares shall be negotiable and
transferable from one to another, by as.
signments IN writing, executed before two
witnesses at the least, and authenticated
and registered, as the said company may
prescribe and direct in their bye laws and
regulations.
Sec 8. lind be il further enacted. That
he amount of each share shall be paid by
instruments of ten dollars, at such times
as the said directors, for the time being
shall appoint; and in case any ins,alment
or instruments shall not be paid at the
time appointed, or within ten DAYS there.
alter, the same may BE recovered in the
name ct the company, by warrant from
justice OF the peace, if the amount due
shall not exceed twenty dollars and ifthe
sum so due shall exceed twenty dollars.
he same may be recovered by motion, in
he name OF the said company, on ter
lays notice, in any court of record in the
county where the debtor may be found
md IN ell such warrants and motions the
certificate Of the clerk Of the said com.
,any shall be conclusive evidence of the
ietendant's being a member Of the com
)any, aud prima lacie evidence Of the
mount due on the shares held by such de.