Alexandria daily gazette, commercial & political. [volume] (Alexandria [Va.]) 1808-1812, 1810-10-01


G5a Stakeholder to the amount of at least
FIVE thousand dollars. But if any person
should be elected as President or Direcsoi
who shall not at the time OF his Geo
ton be qualified under this and the fore
going article, he shall be allowed thirty
days 10 quality himself, and during the
term Of his disqualification he shall not eS'
ereise or perfot N any of the duties apPer-
tanning to his appointment, but if he docs
not within this period qualify himself IS a.
foresaid, his appointment shall be deemed
void. and the Board of President and Dl-
yectors NAV proceed to fill the vacancy.
Article 10. The President aud directors
shall as soon as they may deem 1t expect
emit, declare dividend OF profits, and every
half wear thereafter, shall, make and declare
such dividends of profit as they may deer,
proper-but no dividend shall be declared
except by majority of all the Directors.
Article II. A majority OF the Whole num-
her of Directors shall be necessary IN the
choice of the President and Cashier, but
tbr.e members with the President may
constitute Board for trausactlng the orai-
nary business of the Bank.
Irt;cs ~. The President and Directors
shall keep book in which their proceed
mos, at their meesings as Board, shall! be
REGULARLY recorded, and upon every question
which may occur, the ayes and noes there
upon shall be noted, which record book
shall at all times be open tothe inspection OF
snv Stakeholder, not being director, Off.
Ger or servant of any osher Bank, who shall
six months previous 10 his application be
the proprietor of stock to the amount OK
three thousand dollars.
article IS. Any number Of Stockholders,
no, exceeding twenty, owning together,
stock TO the amount Of fifty thousand dol.
lars, for the space of six months, shall be at
liberty to Gala meeting at any time OF the
Stockholders, & may appoint three OF their
number as committee to examine INFO the
state & condition of the bank, & the manner
!, which its affairs have been conducted
pyoD;ded that no member Of such committee
sbal be director, presiden. or ether ofscer
or ,ervsn, of shy other Bank.
article a. The President and Cashier
shall respectively give bond and security,
and also take an oath for the faithful dis
charor of their duties--;hc President in the
snm Of twenty Thousand dollars, and the
Cashier in the sum Of thirty thousand dol.
lars. the other officers and servants shall
also take an oath and enter into bond :, Sc
curity, in such sums as the presidents ana
I1:c..,,r, ", Az 1,re5cribe,.
Article IS. The total amount OF Bank
No1es and all other engagements OF the
Bank for the payment Of money, shall ne.
yer exceed the amount Of Bank Capital, and
the amount Of monies deposited Bank for
safe keeping 1t being the decided intention
of this article, that the engagements OF the
Bank for the payment Of money, shall IN no
instance whatever exceed It's actual and et'
ficient means of payment.
article 16. All bills, bonds, notes and
every contract OF engagement on behalf OF
the Company for the payment OF money
shall! be signed by the President and couu-
tersiqned by the Cashier, and the funds OF
the Company shall in no case be liable for
any contract or engss ement, unless she same
shall be signed and countersigned as afote'
said.
article II. The Shares of the Capital
Stock shall be transferable at sny time, &C
cordine TO such rules as may be established
bv the President and Directors. But no
Stock shall be transferred, the holder there
of being indebted to the Bsnk, until such
debt be satisfied, except the President and
Directors shall otherwise order IT.
article IS: Every Stakeholder, whether
he be SO by original subscription or BY trans
fer, shall be considered as member OF This
association, and when he ceases to DC
Stockholder he shall cease to be member.
Art:cLe 10 L shnll be the duty OF the