Alexandria daily gazette, commercial & political. [volume] (Alexandria [Va.]) 1808-1812, 1810-10-01
Articles of Aliociation
Articles of Alteration
Feru,;ag a Company of limited Part',eTshtp -.
10 establish Bank ruitbin the 1oSOn 81
ALssuadrie, to Be Demonstrated the
FARMERS BANK
OF
5.ALEXdNDRA.

sby associate and agree with each other 70
conduct the business in the manner hereihal-
Hef described and specified by and under the
Sn,me and style OF The President and D'Tee-
krors of the Faraers Bank Of .4leranaraa' a'la
we do hereby mutually covenant ana a5'eT
that the following rules and restrictions s""il
he the fundamental articles OF this our asso'
cation and agreement with each other, by
-yhich we and all persons who at any uns
s hereafter may transact business with the SAID
.comnanv shall be bound and concluded.
4rticie /. The capital stock OF the said
4,coonanv NAV consist of One Million ofDol-
lars divided into shares OF FIFTY Dollars eaca'
TO be paid as follows Five dollars on each
s snare at the time of subscribing hve aoiiarS
more within thirty days thereafter ten ool-
lars more within forty five days thereafter
ten dollars more within sixty days thereafter;
fen dollars more within ninety days theres'-
ter. and the remaining ten dollars WITHIN one
hundred and twenty days from the time OF
subscribing-And the subscriptions towards
constituting the said stock shall be opened at
Brooks City Tavern in the town OF Alsxaf-
, .dria, on Saturday the twentieth DAY OF &c
.tober, 1910, and continue open from Ten
o'clock In the forenoon until three o CLOCK IA
the afternoon, under the superlntehuanCe "a
Y8omas Sgrann, Charles I. Catie1, 1aco0
Morgan. Richard M Scott, George Dcneale,
RoSert Pattog, Jr. Newton Kesne, John RfcA.
eey and Ro5ert l. Taylor, or so many OF
them as may be present: And it greater
numher Of shares shall be subscribed thah Is
1 dlrectetlby this article, the excess sha'l DC
deducted from each subscriber, IN proportion
10 tlfc number by them respectively subscrio.
ed-Rat if the whole number OF shares Shall
Z not be subscribed within the period ABOVE
mestioDed, the Commissioners shall Close
the subscription book, which shall remain
closed until the election of the President and
D;rectors, and so continue closed until the
..i,l president and Directors shall think pro-
ncr 70 omen it, who may & shall have power
r. rrrscribe the terms and mode OF payment,
and the number of shares to be subscribed ioF,
from time to time until the aforesaid capltai
OF one Million of Dollars shall be July SUD
scr;bed. or until the said President anu Oh
rectors shall at full Iaceting of their Board,
when ali the members thereof shall have had
at least ten days previous notice OF such meet
in,, and its object, determine finally to close
the said subscription OF which detelhll'a-
ton they shall give six weeks puoiic houCe'
in some newspaper published ~'Inln 'ne
iowa OF Alexandria which DETERMINATIONS 81
had and published, shall be binolng ana con-
elusive upon all the members OF tins assoehA'
= t on.
4,zicIe 2. The subscription being closed as
aforesaid, the Commissioners or any thiee
of,bam, shall forthwith advertise meeting
ofthe subscribers, Tor the purpose OF electlhg
Gfteep y directors, one third OF whom at least
shall he citizens of the Commonwealth OF
VIRGINIA, 10 organize and conduct the affairs
oft6e said association, giving eight days no
tee thereof, and of the time and place where
such election shall be held.
4yticls 8. The Directors attheir hrst meet
inc 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, and shall allow them such copPen-
sation fer their services respectively, asshail
be reasonable: Provided, that the aggregate
amount OF such allowance, shall never exceed
one per cent. upon the capital stock
.4rhcle 4. The President and Directors
S~shall determine the manner of doing business,
and the rules and forms to be pursued, and
dispose of the money and credit OF the BANK
5 in such manner as shall seem to them best
calculatedt TO promote the interest OF the pro-
prietors.
.dy!icle S. The second election of Directors
: shall take place on the first Monday IN Jan,i-
:, ary, 1912, and an election each year thereat>
ter, on the first Monday in January, In the
town OF Alexandra, at such place and under
such regulation as the President and Direct
ors for the time. being may prescribe.
.4rnele s. Stockholders shall vote at all
elections for Directors by ballot, in person or
by proxy, and the number of votes to which
-. u Ii L = ent;tlad shall he according to