Alexandria daily gazette, commercial & political. [volume] (Alexandria [Va.]) 1808-1812, 1810-10-12
ALEX4NDPLA.

nv or limited Partnership, and 90 mere
by associate and agree with each other 20
conduct the business in the manner herelnat-
Ter described and specified by and under tie
-na,ne and style of TIE President and Dtrtc-
TORS of the Farmers Bank Of .a!sr1ndrir, and
ne do hereby mutually covenant ana agree
thar the following rules and restrictions shaii
be the fundamental articles OF this our asso-
citation aud agreement with each other, oy
whichswe and all persons who at any time
hereafter may transact business with the SAID
company shall be bound and concluded.
.dracte l. The capital stock OF the SAID
company may consist of One Million OF Dol
lars, DIVIDED into shares OF Fifty Dollars each
70 be paid as follows - Five dollars on each
share at the rime of subscribing; Ave dollars
more within thirty 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 remaining ten dollars within one
hundred and twenty days from the Tune OF
subscribing-- the subscriptions towards
constituting the said stock shall be opened at
Trook's CIV Tavern in the town of Alexail--
f|ria. on Saturday the twentieth day OF DC
tober. 1910, and continue open from ten
O'CLOCK in tho forenoon until three O'Clock In
the afternoon, under the supefIatendahee OF
Thomas Scam, Charles 1. Catlet, JGcoo
Morgan, Richard NJ Scott, George DensaIe,
Robert Patton, III. Aesvton Keene, Jodn h9cA.
Ter aud k46crt 1. 1ay!or, or SO many OF
them as may be present /: And If greater
num5er of shares snail be subscribed lhan Is
directed by this article, the excess shall oe
deducted ircrs each subscriber, In proportion
to the number by them respectively subsciln,
ed-But IL the waoie number OF shares shall
not be subscribed within the period above
mentioned, the Commissioners shall close
the subscription book, which shall remain
closed until the election OF the President and
Directors and so continue closed until the
said President and Directors shall think pro
ner to openit, VINO may * small have power
10 prescribe the terms and mode OF payment
and the number OF shares 10 be subscribed ior,
from time to time until the aforesaid capital
Of one Million of Dollars shall be ie!ly sub
scr,bed, or until the said Presidcnt and Di-
rectors shall at full meeting OF their Board,
when allthe members thereof shall have had
AT lest ten days previous notice OF such meet
ing, and its object. determine finally to close
.he said subscription of which determine
ton they shall give six weeks pu2Ec notice,
in some newspaper published within the
town cf Alexandria which determination, SO
had and published, shall be blnding and con-
elusive upon all the members OF tAis assocla'
ion.
a .fr1iele 9. The subscription being closed as
aforesaid, the Commissioners or any three
n r. 4k. ,1lx,or
ofthe subscribers, !or the purpose OF oiactIi's
16aecn Directors, one third OF whom at least
shall be citizens Of the Commonwealth OF
VIRGINIA, to organize and conduct the affairs
sof cae said assoeiatl giving eight days no
sice thereof and Of the meand place where
ss,lah elsGt,on soaiE BE held.
.6rtieis 8. The Directors at their first meet
Sag shall choose q President out OF their own
DO ~, ant 5'as have power also to appoint
snch officers and servants under them as may
be necessary for executing the business OF
the BsDk, and shall allow them such coinpen-
>satien fer their services respectively, as shall
be reasonable ProVided. that the aggregate
amount of such allowance, shall never exceed
=one pcr cent upon the capital stock.
.Article /. The President, and Directors
shall determine the manner OF doing business,
and the rules and forms TO be pursued, and
dispose OF The money and credit fthe 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, and an election each year thereat-
ter, on the first Monday in January, in the
town Of Alexandra, at such place and under
such regulations as the President and Direct
ors for the time being may prescribe.
.6rtrcle s. Stockholders shall vote at all
elections for Directors by ballot, in person or
by proxy, and the numbcro votes 10 which