The Delaware gazette., 1810-04-07

any ships vessels, or directly or Indirectly be
concerned IN commeTce,o ,or insurance or in the i'm
portation or expectation, purchase or sale of any
goods, wares, or merchandise whatever, (hllls OF
exchange, and boilion only excepted,) except
such ships, vessels, goods, wares, or merchandise,
shall be truly transferred, conveyed or pledged
to them by way Of security for money actually
loaned and advanced or for debts due owing, or
growing due TO the said company, or purchased
by them to secure such debts, SO due to the said
company, or to effect insurance on the property
that may belong, or be thus pledged to the said
company for its security.
ARTICLE XIV.
All bills, bonds, notes, and every contract and
engagement on behalf of the company, shall be
signed by the president, and countersgned or at
| tested by the cashier of the company, and the
| funds of the company shall in no case be held
| responsible for any contract or engagement what
ever, unless the shall be so signed, counter
signed at,ested as aforesaid, and the books pa
| pers, correspondence, and the funds of the COM
pany, shall at all times be subject to the inspec-
| ton of the directors.
ARTICLE XVI.
Dividends of the profits of the company, or
of SO much of the said profits as shall be deemed
| expedcnt and proper, shall be declared and paid
half yearly during the months Of January and
July in every year, except the first dividend which
| shall be declared in the month of January cigh-,
teen hundred and eleven, and the said dividends
| shall from time to time be determined Ivy ma.
| iority of the directors, at meeting to be held
for that purpose, and shall in no case exceed the
amount of the nett profits actually acquired by
the company, SO that the capital stock th,-of
shall never be impsfcd by dividends.
| ARTICLE XVII.
| If the said directors shall at any time wilfuly
and knowingly make or declare any dividend
which shall impair the said capitll stock, all d
rectors who shall be present at ihc making or
declaring such dividend aud assents,,athereto,
shall be liable in their individual capacities to the
company, for the amount or proportion Of The
said stock, 50 divided by the said directors, and
each director who shall be pfesent at the making
or declaring Of such dividcnd, sA.ll I've deemed
] to have consented thereto, unless he shall nre-
da,ely declare IN writing his dissent, the min
| utes of the proceedings Of the board.
ARTICLE NVIlI.
| 1t is hereby expressly and explicitly declared
to be the obcc. OF The persons associate under
| the firm of the president and directors Of the
| Bank OF Wilmington and Brandywine, that the
| property or Joint stock OF said company lexciu-
7ive of the dividends to be rnatle ia the manner
herein mentioned,) shall alone be responsible for
| the debts and engagements of the company, and
! that person who shall or may deal with the
said company, or to whom they shall or may
| become in any wise indebted, shall on any pre-
tencc whatever have recourse against the sepcr-
| 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 of this company, signed by the presi-
dent, and oountersigned by the cashier of the
company for the time being or dealing with it in
any manner whatsoever, thereby give credit ie-
spectvely to one joint stock or property OF said
company, and thereby disavow having recourse
on any present or futuie member of this compa-
ny except as aforementioned and all suits brought
against this company (if any sha! be-, 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 expencc of the company for
substituting his successor in Office as defend
ant, SO that persons having any demands upon
the company may not be prejudiced or delayed
by that event, or if the person sueing shall so on
against the person first named as defendant mot
| withstandng his death or removal from office, J
this company shall take no advantage by writ OF
error or otherwise of such proceeding en- that
account, & all rccovcres 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, sndthe COM
pany shall Immediately pay the amount of such
recovery out of their ont stock, but not other.
wise, and in case of any suit at law, the presi-
dent shall sign his appearance or file common
bail thereto, 1t 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
proceedings, and on any question where too di-
| ch,u Miro L. and Of III