The Delaware gazette., 1810-04-04
The articles Of Association,
OF f

TO all whom these presents shall come, or
to whom they in any wise concern, lie 1t made
known and made manifest, That We, thcsub-
scrihers, have formed Company or limited
Partnership, and do hereby associate and agree
with each other to conduct business under the
name and title OF The PRESIDENT and
DIRECTORS of the BANK Of WHINING
TON and BRANDYWINE."
And We do hereby mutually covenant, de-
clare end agree, That the following are and
shall be the Fundamental articles of this onr As
ssciation and agreement with each other, by
which we, and all persons who at any time may
,ransac. business with the said company shall
be bound and concluded.
ARTICLE !.
The capital stock of the said company shall
consist of T7,o Hundred Thousand Dollars, in
money Of the United States, ehd shall be divi-
ded in shares Of Flf0DoNars each the amount
of the shares subscribed for shalt be raid by
the several respective subscribers into the
hands of the Directors, herein alter named, in
gold or silver, or in Bank notes equivalent
thereto, in the following manner, 10 wit;
Five DoiiGys shall be paid on each share at the
time Of subscribing these articles, and ftue
Dollars shall be pad on each share on every
succeeding Thirty days, until the payment OF
Twcn,y-hv dollars, on each share SO subscri-
bed is completed and in case OF non payment
of the said sums ofpopey al the time or times
specified, when they become payable, the share
or shares subscribed Tor, and upon which such
default OF payment arises, shall be forfeited to
the company, together with all and every sum
or sums of money previously paid thereon and
the remaining Twenty Five Dollars, on each
and every share SO subscribed, shall be called
for and demanded at such time and place and
in such proportions as the Directors herein al
ter mentioned, shall order and direct; they
giving at least thirty days previous notice of
such payment, in the most public mannerth
circumstances and the nature of the case will
admit. And in case of non-payment Of the
residue, or any part thereof, at the time or
dimes so required, the interest or dividends on
all monies previously paid on such shares shall
be forfeited to the Company.
ARTICLE II.
That the following persons are hereby con-
s,ituted and appointed Directors Of said Bank,
and shall continue to hold their respective Of
fices until the first Monday of April, one theus-
and, eight hundred and eleven, and until they,
or their successors shall be duly elected, as
herein alter provided.
ARTICLE III.
Should any vacancy at any time happen a.
mong the Directors, by death, resignation or
otherwise, the remaining Directors, for the
time being, shall elect Director to fill such
vacancy until the next election and On the
said first Monday in April, / 81 |, and on every
succeeding year, general meeijng Of the
Stockholders OF the said Bank sha bldcn
at such place as the Board of Mali
a?point, by notice given in y hblic
manner the nature of the cks hit, q,
least fifteen days next anteceA Eh meet
ing, for the purpose OF eIecting hfN Directors
for the ensuing ye1r and the said Directors,
thus elected, shall, at their first meeting after
sacA election in each year, choose one Of their
humber as Presidents Provided, that in case it
should happen at any time that an election oi
directors should not be made upon any day
when, pursuant to these articles, il ought to
have been made, it shall be lawful, and the Dir
reciors torihe time being are hereby required,
within ten days AFTER such neglect to call a
ncefing Of The stockholders, for the purpose OF
holding ard making an election Of Directors, in
such manner as a majority of them shal direct
and appoint.
ARTICLE ".
None but Siockhotcr, being citizen oi,
and residing in the State of Delaware, shall be
eligible as Director; and no Director of any
o'nef fbank, or partner OF such Director, shal
oe, NJ the same time, "a Director OF this Bank
ana II any one OF the Directors, after Icing e.
ieste,l' shall, at any time, during the term for
"nch he shall havc been chosen, cease to be
NocSholiler, Or be elected or chosen Direct
VI or In any other Bank, the remaining Direct
o's' or majority Of them shall (aIter having
satisfactory information of the same) at their
M seA' meeting. pass an order declaring him thus
a',,]uahiied, and no longer Director of the
'"'s -'ank and shsl forthwith procced to fl!