The Delaware gazette., 1810-04-18
The articles Of Association,
oFTHE

RankOf w llmlngton rJr,raile'y Whlo'
TO all whom these presents shall come, or
60 whom thew in any wise concern, BE II made
known and made manifest, That We, thesao
scrihers, have formed Company or lliAdeo
Partnership, and do hereby associate ani agree
with each other TO conduct business unusr 'hc
name and title OF " The PitESlOLNl ana
DIRECrONS OF the BANk OF WiLMlN''-
TON and BRANDIWlNE."
And We do hereby mutually covenant, oe-
clare end agree, That the following are anu
shall be the Fundamental articles oil tins oar AS
sociation and agreement with each other, by
which we, and all persons who at any time may
transact business with the said company shall
be bound and concluded.
ARTlCLEI |.
The capital stock of the said company shall
conss, IF Tsyo Hundred Wousand DoAafS, in
money of the United States, and shall be divl-
ded in shares of fIlfyD0Hafs each the amount
of the shares subscribed for shall bs pad by
the several respective Subscribers Into the
hands Of the Directors, herein alter named, IN
nold or silver. or in Bank notea equivalent
thereto, in the following manner, to wit;
Fire Doi!ors sha:. be paid on each share "t the
tir,c Of subscribing these ARTICLES, and f;pc
DoLars shall be paid on each share on every
succeeding thnty days, untl the payment OF
Twenty-Five dollars, Ola each share SO suhscri-
bed is completed /; and in case Of non"paymeht
ofthe said sums OF money at the time .. uincs
spet fed, when they become payable, the snare
or shares subscribed for, and upon which Such
default of payment arises, shal he lotAtHei 10
the company, together with all and every sum
or sums of money previously pad thereon ana
the remaining twenty FIVE Go.ia!a' on en"n
and every share subscribed, saad ne c@!iea
fer and demanded at such time ana pace a"o
in each PROPORTIONS as the Directors herc'n 81.
ter mentioned, shall order and dYect they
giving at least thirty days previous notice oi
snch naymrnt, in the most public mannerthat
Circumstances and the nature OF the case VIII
admit. Aud in case Of non payment ot the
resduS, or any part thereof, at the time o"
times 50 required, tho interest or dividends on
all monies previously paid on such shares shall
be forfeited TO the Conpuny.
ARTICLE #.
That the following persons are hereby con
sttuted and appointed Directors OF SAID bank,
and shall Continue to hold their respective oil
fees until the first Monday OF piil, one tkous-
and, eight hundred and eleven, and until they,
or their successors shall be duly elected, as
herein after provided,
ARTICLE III.
Should any vacancy at any imc happen d.
mong the Directors, By death, resignation OF
otherwise, the remaining Directors, for tue
time being, shall elect Director to fill sucl
vacancy until the next election and en- The
said first Monday in April, 19i /, and on every
succeeding year, general meeting OF tht
Stockholders oi the sand Bank Shall be holder
at such place as the Board .. Directors sinai
appoint, by notice given in the most public
manner tho nature of the case vii, admit, a
nJ,.,,
ing, for the purpose Of electing nine Directors
for the ensuing year and the said Directors
thus elected, shall, at their first meeting alte
such election in each year, choose one OF thei
number as President Provided, that in case
should happen at any time that an e'ectian O
Directors should not be made upon any da
when, pursuantto these articles, 1t ought t
have been made, it shall be lawful, and the ID
rectors for the time being are hereby required
withia ten days after such neglect TO call
Iuccting c[ the tockholders, iop the purpose G
holding and maxim. an election OF Directors, il
such manoer majority of thcn! shal direc
M, app&ias.
ARTICLE ".
N,use but stcch holder being citizen o.
and residing IN the State Of Delaware, shall b
s.iEite as Dire, tor; and no Director ct an
other Bank, or partner Of such Director, sha
oe, n the same ,i;ae, Director Of this Bank
and il any enc OF The Directors, after being {
'Fc'ea, shall. AT any time, durng the term &c
| V'ic' hc shall have been chosen. cease to b
S,ockho!ier, or be elected @r chosen Drec
or or in any othrc Bank. the remaining Direc
er', or majority Of them shall (airer hayin
satisfactory lnferma,ion of the salre) at the
~ Ttncci:ng. pass an order decfa,ine him thu
'lhqa"i'i,ed and no LONGER Director of t.,
F'.a Hni end shall forthwit, proceed ,o e