Alexandria daily gazette, commercial & political. [volume] (Alexandria [Va.]) 1808-1812, 1810-09-25

n Stock hotdct u LAC . - 81 is's
bd' Isou,snd dollars. But if any person
hse ~ +. elected as President or Director
inOu'Nh hall no, at the time of his cleo
who qualified under this and the fore
ION .rt,cIe. he shall be allowed thirty
SonS 20 qualify himself, and during the
CAV Il his disqualification he shall not ex.
i'fn :, nsrfo.m any of the duties apPer-
a .;oo 20 his appointment, but if he does
ts'n%9 ,b;n this period qualify himself as a.
au ".;d his appointments shall be deemed
'ol y and the Board of President and Di-
'0'u @rs may proceed to fill the vacancy.
i'' Irt;cIe 10. The President and Directors
,.n.s soon as they may deem 1t sSpedl-
' !. declare dividend OF profits, and every
,% s,.sr thereafter, shall make and declare
p' "S dividends of profit as they may deem
'u .n,r-but no dividend shall be declared
pr. .rn, By majority of all the Directors.
III, drt:cls IL. A majority THE whole num-
/. If directors shall be necessary in the
so;s. Of the President and Cashier, but
~. members with the President may
institute Board tor sransacting the ordi-
..,v bu,inrss Of the Bank.
- i,t;cle y. The President and Directors
shall keep book in which their proceed
;nas >, their meetings as Board, shall be
r.onlsrIy recorded, aud upon every question
.S;ch may occur, the ayes and noes there
n,oo shall be noted, which record book
.bap at all times be open tolhe inspection of
any Stockho|der, not being director, Off
,.r or servant of any other Bank. who shall
!, months previous to his application be
4, PROPRIETOR of stock 10 The amount of
tire. thousand dollars.
Article Is. Any number O. Stockholders,
not exceeding twenty, owning together,
sock TO the amount of fifty thousand dol
lars, for the space of six months, shall he at
liberty csil a meeting at any time OF the
Stockholders, & may appoint three of their
number as a committee 10 examine into the
safe < condition of the bank, & the manner
in which lis affairs have been conducted
Previdtd that no member Of such committee
sha BE- director, president or other officer
Orservqut of any other Bank.
Article Is The President and Cashier
shall respectively give bond and security,
and also take an oath for the faithful dis
charge of their duties-she President in the
sun Of twenty thousand dollars, and the
Cashier in the sum of thirty thousand dol
lrs; the other officers and servants shall
4 slso take an oath and enter ir,o bond S Sc
'urIty, in such sums as the President and
Directors may prescribe.
dn;cie IS. The total amount Of Bank
Aates and all other engagements of the
Bsnk tor the payment OF money, shall ne,
Yer exceed the amount of Bank Capital, and
theamouut Of monies deposited in Bank for
safe keeping: 1t being the decided intention
o. this article, that the engagements of the
Bank for the payment of money, shall in no
Instance whatever exceed its actual and e.
hu-n| means of payment.
6'tcle 16. All bills, bocds, notes and
very contract or engagement on behalf of
ne Company tor the payment Of money,
snail De signed by the President and coun-
s'lgned by the Cashier, and the funds of
The Company shah in no case be liable for
LysoOfract or engagement, unless the same
'al be signed and countersigued as afore-
drt'cie II, The Shares Of the Capital
'"ck shall be transferable at any tim-, &C
t0'l'ng to such rules as may be established
Swe President and Directors. But no
sS shall be transferred, the holder there
sa,oting indebted to the Bank; until such
~ NV DC satisfied, except the President and
Il N"Fctors shall otherwise order it.
Is n'Hcle Is. Every Stakeholder, whether
f. .~ 50 BY original subscription or BY trans
snan be considered as a member Of :his
V,lauon, and when he ceases 20 be a
q ~,Aaolder he shall cease TO be member.
"'cle 10. 1t shall be the. duty of the
,.aSssdent, { in whose absence the Directors