The Delaware gazette., 1810-03-28

any ships vessels, or directly or indirectly be
concerned IN cornmerce,or insurance Or In The I'M
porfaton or eaportaion, purchase or sale Of any
Goods, ware, Or merchandise whatever, lbiils Of
exchange. and bullion only excepted,) except
such sh'ps, vessels goods, wares, merchandise,
as shall be truly transferred, conveyed or pledged
to them by way of security for money actually
loaned aud advanced, or for debts due owing, or
growing due to the said company, OF purchased
by them to secure such d, bts SO due to the said
company, or to effect insurance on the property
that may belong, - be thus pledged to the said
company for its security.
ARTICLE XIV.
All bills, bonds, notes, and every contract and
engagement or behalf of the company, shall be
signed by thetresident, and coun,ersigned or at
tested by the cashier of the company, and the
funds Of the company shall in no case be held
responsible FOR AM contract engagement what
ever, unless the same shall be so signed, couuter
sighcd or attestcd as aforesaid, and the books pa
pcts, correspondence, and the funds III the com.
pany, siall at all times be subject to the inspcc-
ton of the directofc.
ARTICLE XVI.
Dividends Of the profi.s of the company, or
Of so much Of the said profits as 81 all be deemed
expcdlcnt and proper, shall be declared and paid
malt yearly during the months of January and
July IN every year, except the first dividend which
shall be declared in the mont, Of January cigh-
teen hundred and eleven, and the said dividends
shall from time to time be determined by ma.
jority of the directors, at a meeting TO be held
Tor that purpose, and shall in no case exceed the
amount of the nett profits actually acquired by
the company, that the capital stock thereof,
shall never be impaired by dividends.
ARTICLE XVII.
II the said directors shall at any time wilfally
and knowingly make or declare any dividend,
which shall impair the said capital stock, all d.
| rectors who shall be present at the making or
declaring such dividend aud asserting thereto,
shall he liable in their individual capacltles TO the
company for the amount or proportion OF the
said stock, SO divided by the said directors and
| each director who shall be present at The making
or declaring Of such dividend, shall be deemed
to have consented thereto, unless he shall ,mme-
diatcly declare in writing his dissen on the min
utes of the proceedings of the board
ARTICLE XVIII.
II is hereby expressly and explicitly declared
to he the oajec' the psrsons,wh associate under
the flrm OF the PRESIDENT and directors Of the
Bank of Wilmington and Brandywine, that the
property or joint stock OF said company texclu-
sive OF the dividends TO be mad. in the manner
herein men'iones,) shall alone he responsible for
the debts and engagements of the company, ard
that no person who shall may deal with Il
SAID company, or 10 whom they shall or may
become III any wise indebted, shall on any pre-
fencc Whatever have recourse against the seper-
ate property Of any present or future member Of
the company, or against their persons, but all
persons accepting any bond, bill, note. or other
contract oi this company, signed by the pres-
dent, and eopntersigned by the cashier of the
company for the time being or dealing with il in
any manner whatsoever, thereby give credit ~
spectvely to one joint stock or property OF said
company, and thereby disavow having RECOURSE
on any present or future member of this cornpa
ny except =, abovem entioncd and all suit. hrougb,
against this company (f any shall bc,) shall be
brought against the president for the time being,
and in case of his death, or removal from office
pending any such suits against him, measures
shall be taken at the expence OF the company for
substituting his successor in Office as defend
anti SO thar persons having any demands upon
the company may not be pre;ndiced or e.eay ayed
oy that event, or if til. person sucing shall 90 OH
against the person first named as defendant mot
wihstandlng his death or removal from oificc,f
this company shall take no advantage BY writ Of
error or otherwise Of such proceeding en- that
account, 4 all recoveries had in manner aforesaid
shall be conclusive upon the company so far as
TO render the company's said joint stock or pro-
perty liable thereby and no further, and the COM
pany shall Immediately pay the amount of such
recovery out OF their joint stock, bu, not other
wise, and in case of any suit at law, the pres-
dent shall sign his appearance or file common
bail thereto, it being expressly understood and
declared that all persons dealing with the said
company agree to these terms, and are TO be
bound thereby.
ARTICLE XIX.
The directors shall keep fair and regular en-
tries in book provided for that purpose of their