The Delaware gazette., 1810-04-14
The articles of Association,
OF THE

Bankof Wilmington q rSBrandy"ine.
TO all whom these presents shall comc' OF
to whom they in any wise concern, BE It nsae
known and made manifest, That We, the SUD-
scribers, have formed Company or limited
Partnership, and do hereby associate and agree
with each other to conduct business under the
name and title OF '' The PRESIDENT and
DIRECTORS of the BANK Of WHINING
TON and BRANDYWINE."
And We do hereby mutually covenant, de-
clare and agree, That the following arc and
shall be the fundamental articles OF this our 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.
ARTICLEI.
The capital stock Of the said company shall
consist of 7'.vo Hundred Thousand Dollars. in
money Of the United States, and shall be diyl-
ded in shares of Fifty Dollars each the amount
of the shares subscribed for shsl( be paid by
the several respective subscribers into the
hands of the Directors, herein alter named, In
vold or silver, or in Bank notes equivalent
thereto, in the following manner, to wit:
Fire Dollars shall be paid on each share at the
time of subscribing these articles, and Five
Dollars shall BE- paid on each share on every
succeeding thirty days, until the payment OF
Twenty-Five dollars, on each share 50 subscrl-
bed is completed and in case OF non-pay
of the said sums of money at the time or times
spccified, when they become payable, the share
or shares subscribed for, and upon which such
default Of payment arises. shall be forfeited to
The company, together with all md every sum
ar sums of money previously paid thereon : and
the remaining Twenty Five Dollars, on each
md every share so subscribed, shall be called
for and demanded at such time and place and
in such proportions as the Directors herein ei-
Ter men,ioned, shall order and direct; they
giving at least thirty days previous notice o'
such payment, in the most public manhertha'
circumstances and the nature Of tho case WI
admit, And in case OF non-payment OF ths
residue, or any part thereof, at the time OF
times so required, the interest or dividends OF
all monies previously paid on such shares shal
BE- forfeited to the Company.
ARTICLE II.
That the following persons are hereby con
s,ituted and appointed Directors Of said Bank
and shall continue to hold their respective OF
fees until the frs. Monday of April, one thous
and, eight hundred and eleven, and until they
or their successors shall be duly elected, a
herein after provided.
ARTICLE III.
Should any vacancy at any time happen a
mone the Directors, by death. resignation Q
otherwise, the remaining Directors, for tn
time being, shall elect Director to fill sue
vacancy until the next election and on tn
said FIRST Monday in April, lsl /, and on ever
succeeding year, general meeting OF III
Stockholders of the SAID Bank shall DC hode
al such place as the Board of Directors sha
appoint, by notice given in the most publ
manner the nature Of the case will admit,
least fifteen daysnext antecedent to such NEE
ing, for the purpose of elec,ing nine Directo
for the ensuing year and the said Director
thus elected, shall, at their first meeting aft
such election in each year, choose one OF The
number as President Provided, that in case
should happen at any time that an election
Directors should not be made upon any d
when, pursuant to these articles, 1t ought
have been made, it shall be lawful, and the l.
rectors for the time being are hereby require
within ten days after such neglect 10 call
meeting Of the stockholders, for the purpose
holding and making an election OF Directors,
such manner as majority Of them shA dire
and appoint.
ARTICLE w.
None but Stockholder, being citizen
and residing in the State of Delaware, shall
eligible as Director and no Director q! u
other Bank, or par'ner of such Director, 81,
be-, at the same time, a Director Of this Ban
and If any one of the Directors, alter being
lectrd, shall. at any time, during the term
which he shall have been chosen. cease to
Stakeholder, or be elected or chosen Dire
Or or in any other Eank, the remaining Dire
ors, or ma ajority Of them Shall (after hsv
satisfactory Information of the same) at III
hevt meeting, pass an order declaring him Il
disqualified, and no logger a Director of
sad lans; and shall forthwith proceed to