Alexandria daily gazette, commercial & political. [volume] (Alexandria [Va.]) 1808-1812, 1809-10-20
Articles Of Association,


4 OF this .HSSOt 7aIzO7l, ID - 'i''iouuN 49,,
)by the bale or package TO the town OF Az
andria,trom different partsof Europe' Luz
of different descriptions, and particularly uei-
man and Irish Linens. .-
! MT 2--The Capital Stock OF the Coi,P"
! nv shall, consist of one hundred an0.Jy '"o"I
sand dolars,to be divided into three thousai,u
shares of fifty dollars each, andto be Pa . .s
in The following manner, VIZ. TWO ooi'"'
lbe ,aid at the time of subscl ibing' SIXTEEN uoi
lars when called for by the directors si"te."
dollars in not less than six months tne'eai'ei'
and the remaining sixteen dollars III llo' 'esS
than SIX months from the date OF the preceeu-
ling payment d sh,res Of
the said Capital Stock shall have been SUD :
scribsd for, meeting OF the otocknouol
shall be called by public notice IN the A'eAa'l-
dria Newspaper, TO meet In the saio 'o"" ~
the Cour, House, either in person, or oy az
tornev duly authorised At which meeehs
the Stockholders, either personally, OF lhro >
their attorneys, shall elect by ba!lot' SIX OF
their own body to act as Directors OF me salo
Company for one year: AT such hee.ins
each subscriber Shall be entitled 10 as many
votes as he may hold shares. Similar ei1'
tons shall. take place annually on the sa'ne Wy
or on the day following lin case OF It's Oei''s
Sunday, during The existence OF this assocla-
t;oo. Hut no stockholder shall vote at any
! e,,c,;on. u,or stock, upon which there Shall
be due and unpaid amy arreara5es OF inc pay
mentS called tor
| Hyt. 4.-The Directors when so apPol.''ou
shall proceed without delay, TO choose n'''l
their own body or the list OF stocNnoiec!''
President who shall in the manner hereby
| declared, conduct the affairs OF tie lonP"i!
FIR one wear, and no Shall be allowed Tor MS
services. ont ofthe funds of the saidCompany'
salary to be ixed by the said Directors pre-
I lions 10 his election, and to commence upon
the arrival of the first Goods that may De iih
! norted, or sooner if the Directors shall 50 de-
eide. In case of vacanc; in the direction at any
time b, death, resignation, OF OTHERWISE SUN
vacancy shall Immediately be hliea D! INC
| hoard Of President and Directors; and In the
same manner shall be filed any vacancy "nlGh
NAV arise in consequence of the death or re-
sipnatiou Of the Pres the board OF fHcst x
| Directors small from tlMe tonne choose sue"
! cIerks& other servants OF theCompahy'aS s:'e!
NAV think necessary, and make reasoilaole
allowance to the same for their services.
| .5rt. 8. The board Of President and Dlrec-
! tors shall have power to appropriate the 1uhds
Of tbe Company in such manner as thcy may
] think proper, and generally to do and perform
Al, lawful acts, not inconsistent with the nun
,ar,entsl articles of this association. But, they
I shall at no time have contracted III the oompa-
! ny's name, for,he payment OF monies; excee cd
| ing in amount the actual capital caiea l'l' ui
( less it be by particular order, Sanctioned oy
! the nrasident aud two thirds OF the Directors,
/ or hy the whole number of Directors, nor
| shall the President and Directors have autho-
ritv to contract debts in the name OF the
{,omnanv. SO as to owe at any time greater
sum than SIS 900, exclusive OF their outy
bonds and premiums OF insurance
.srt, Ga President and three Direct ~
shall constitute board for the transaction OF
| ordinary business. but concurrence OF iour
J Directors with the Presldent,shailoe neccssa-
nv to the appropriation OF monies IN the hrst
! instance for the purchase OF Goods or produce
Of apv kind. The President shall have power
under the control of the board, to transact all
the business OF the Company IN relation 70 the
management and sale of Goods, and receipt
or recovery ofmonles due. -.
| Art. 1.-The board OF President ana Dl-
rectors shall from time TO time decla'c VI
vdend of so much Of the profits OF the busl-
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 hxed
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. ~
.Art. s.-The Stock of the Company shall
he transferable on their books, but no divl-
dend can at any time be claimed upon stock,