Alexandria daily gazette, commercial & political. [volume] (Alexandria [Va.]) 1808-1812, 1809-10-17
Articles Of Association,
Far the establishment Of a TRADING COM
PAsY zv;thin the t0zv,s q alexandria, to
be aenominatea ~
The Linen Importing Company
of Alexandra.

~ this .dsSot iQtlo7s, is to Introduce tor Sale
nv the bale or package to the town OF Alex
andria,srom different parts OF Europe, Linens
of different descriptions, and particularly Ger-
han and Irish Linens
mi. 2---1he Capital Stock OF the ConPa-
nv shall consist OF one hundred ana tJty ha0'-
sand dollars, to be divided into three thousand
shares OF TRY dollars each, andto be Payaose
In ,hc following manner, VIZ. two doi'afs 70
be paid at the time Of subscribing, sixteen COZ
lars when called for by the directors, sixteen
dollars in not less than six months thereafter
and the remaining sixteen dollars III not Tess
than SIX months from the date OF the preceea-
ing payment. g
.frt. 3,--As soon as one thousand shares OF
the said Capital Stock shall have been suo
scribed for, meeting of the otockholaeFs
shalt be called by public notice in the Aiexan-
.dria Newspaper 10 meet in the said town at
the Court House, eitherin persen, or oy az
torneY duly authorised: At WHICH meeuhtt..
the. stockholders, either personally or thfo
their attorneys, shall elect by ballot, SIX OF
their own BODY to act as Directors OF the SAID
Company for one year: At such meeting
each subscriber shall be entitled to as many
votes as he may mold shares. Similar cleo
tions shall take place annually o<ltae same day
or on the Gay following I'm case OF It's being
Sunday during the existence OF TINS asSocia-
ton But no stockhoider shall yote AZ any
eleciion, upon stock, upon which there shall
be due and unpaid any arrearaScs OF the pay
ments Called Tor.
.Frt. 4.-The Directors when SO appointed
shall proceed without delay, to choose from
their own BODY or the list Of stockholders,
President who shall in the manner hereby
declared, conduct the affairs OF the Company
for Que year and who shall BE allowed ior his
services, out of the funds OF the saldCompany,
salary to be fixed by the said Directors pre-
y;ous to his election, and to commence upon
the arrival ofthe FIRST Goo.is that may De I'M
ported, or sooner ifthe Directors shall SO de-
eide. In case Of vacancy In the direction at any
fine BY death, resignation, OIL otherwise, such
vacancy shall Immediately be filed by the
board of President aad Directors; and IN the
same manner shall be filled any vacancy which
nav arise in consequence OF the death or re-
Slgnauou OF the PrUo he beard OF PTeS't 9
Directors Shall from time to ime choose such
clerks& other servants Of theCompany,as they
may think necessary, and make reasonable
allowance to the same for thely services.
.4rt. S, The board of President and Direc-
tors shall have power 10 appropriate the funds
of the Company in such manner as they may
think proper, and generally to do and perform
ali lawful acts, not inconsistent with he fin"-
da1nentas articles OF this association. But, they
shall at no time have contracted the ComPa-
ny's name, for the payment Acknowledgement
mo In al,,ount the actual capital called In, TN
less it be by a particular order, sanctioned by
tina president and TWO thirds of the Directors,
or by the whole number OF Directors, nor
shall the President and Directors have autho-
rity to CONTRACT debts III the name OF the
Company, SOFAS 10 owe at any time greater
sum than S75,oQ0, exclusive OF their duty
bonds and premiums OF insurance.
.Arf. 6.-A President and three Directors
Shall constitute board for the transaction OF
ordinary business, but concurrence Oh tour
Directors with the President, shall be neccssa-
ry to the appropriation OF monies In the tirst
instance for the purchase OF Goods or Produce
of any kind The President shall have power
under the control of the board, to transact all
the business Of the Company In relation to the
management and sale of Goods, and receipt
or recovery ofmonies due.
.frt. THE board of President and Nj
rectors shall from time TO time declare Di-
vidend of SO much of the profits of the bust
ness as they shall deem ADVISABLE. A state
meat ofthe affairs of the Company shall once
in each year, at least, at period to be fixed
by the President and Directors, be submitted
to the inspection of the Stockholders. No
question shall be agitated at the board touching
dividend of profits, or appropriation of mo-
ney in the purchase OF Goods, without notice
thereof having been given at proceeding
board.
.frt. s.-The Stock of the Company shall
be transferable on their books, out no dlvi-
dend can at any time be claimed upon stock,