Alexandria daily gazette, commercial & political. [volume] (Alexandria [Va.]) 1808-1812, 1810-09-28
i articles of ARociation.
Articles of AffOclatlOn>
Forming Company Of limited Partnership,
to establish a Bank 1uithia the 1o1vn q
dlexandrio, to be dealomiaated the
FARMERS BANK
ALEXANDPLA.

ny or limited Partnerships aiiu w
by associate and agree with each other -
/. conduct the business in the manner herelhai-
ter described and specified by and under tHe
name and style of The President ana O1Tec-
tors Of the FARMERS Bank Of .4[eraHdraa, ana
we do hereby mutually covenant anu agree
8 thar the following rules and restrictions shaii
he the Fundamental, articles OF tins our asses
ciation and agreement with each other, by
:, which we and all persons who at any time
hereafter may transact business with the SAID
$ company shall be bound and concluded
.4rsirie l. The capital stock OF the sad
: company may consist Of One Million, OF Dol
lars, divided into shares of Fifty Dollars each,
20 be paid as follows Five dollars on each
share IT the time of subscribing; five dollars
more within tEpty days thereafter; ten dol
lars more within forty FIVE days thereafter;
ten dollars more within sixty days thereafter;
ten dollars more within ninety days thereat-
ter, and the reisaining ten dollars within one
hundred and twenty days from the time OF,
substfibing-snd the subscriptions towards
constituting the said stock shall be opened at
Brooks City Tavern in the town of Alexan-
dra, on Saturday the twentieth day OF &c
tober, 1910, and continue open from ten
O'clock in tho forenoon until three O'Clock IN
the afternoon, under the superintendent OF
7aopsas Su0,an, Charles 1. Cattett, Jacoo
s Morgan, Richar! NJ Sco!t. George Dsneole,
Re6eyt Patton, Jr. Newton Heene, JoAm itzch.
ter and Robsrt I. Taylor, or SO many OF
them as may be present: And If greater
number of sh.ires shall be subscribed Khan y
directed by this article, the excess shall be
deducted from each subscriber, III proportion
TO the number by them respectively subscilb'
ed--But if the whole number OF shares shall
not bic subscribed within the period above
mentioned, the Commissioners shall close
the subscription book, which shall remain
closed until the election of the President anu
Directors, and so continue closed until the
said President and Directors shall think pro-
per to open it, who may < shall! have power
to prescribe the terms and mode OF payment,
ant;tne number of shares to be subscribed Tor
iroln time to time until the aforesaid capital
oil one Million ofDoIlars siE,ll be fully sub
scr;bed or until the said President and Di-
rectors shall at full meeting OF their Board,
when all the members thereof shall have had
at least ten days previous notice of such meet
ing, and It's object, determine finally 10 close
the said subscription of which determine
tion they shall give six weeks public Notice,
in soHlc newspaper published within the
town OF Alexandria; which determination, so
had and published, shall be binding and con-
c;uSiye upon all the members Of this assocla-
ton.
.4rsicie 2, The subscription being closed as
aforesaid, the Commissioners or any three
CO them, shall forthwith advertise meeting
ofthe subscribers, for the purpose OF eiectlng
fifteen Directors, one third of whom at least
shall be citizens of the Commonwealth Of
Virginia 10 organize and conduct the affairs
OF the Said associations giving eight days no
tice thereof, and Of the time and place where
such election Shall be held
.4rtiete 3. The Directors at their first meet
ing Shall choose President out of their own
body, and shall have power also to appoint
such officers and servants under them as may
be necessary for executing the business of
the Bank, aud shall allow them such Compen-
sation fer their services respectively, IS shall
be reasonable ProVlded. that the aggregate
amount Of such allowance, shall never exceed
one per cent. upon the capital stock.
-4rttcie 4, The President and Directors
shall determine the manner of doing business,
and the rules and forms TO be pursued, and
dispose ofthe money and credit Of the Bank,
In such manner as shall seem to them best
calculated to promote the interest of the pro-
prietors.
article S. The second election of Directors
shall take place on the first Monday in Janu-
AIRY, 1912, aud an election each year thereaE-
ter, on tho first Monday in January, in the
!, town of Alexandria, at such place and under
such regulators as the President and Direct
ors for the time being may prescribe.
.irticle S. Stockholders shall vote at all
elections for Directors by ballot, in person or
by proxy, and the numbcrof votes to which
each shall be entitled, snail be according to
-. cIn.lI hold